Section 115.07. Optional successor.

 

(1)   Standard. A transferee may elect to become a successor under s. 108.16 (8) (b) , Stats., if the business transfer satisfies s. DWD 115.01 and if:

(a) The transfer included at least a transfer percentage of 25% of the transferor's total business as determined under s. DWD 115.09 ;

(b) The same financing provisions under s. 108.15 , 108.151 or 108.18 , Stats., apply to the transferee as applied to the transferor on the date of the transfer;

(c) The transferee has continued or resumed the business of the transferor either in the same establishment or elsewhere, or the transferee has employed substantially the same employees under s. DWD 115.08 as those the transferor had employed in connection with the business transferred; and

(d) The department has received a timely written application from the transferee requesting successorship status.

(2)   Written application; timely receipt; withdrawal.

(a) The department shall consider as timely under sub. (1) (d) any written application from the transferee or its representative which is received by the department on or before: July 31 of the year in which the transfer date is January 1 to March 31; October 31 of the year in which the transfer date is April 1 to June 30; January 31 of the year following the year in which the transfer date is July 1 to September 30; and April 30 of the year following the year in which the transfer date is October 1 to December 31, unless par. (b) applies. The department shall accept a late application received no more than 90 days after its due date if the transferee satisfies the department that the application was late as a result of excusable neglect.

(b) If the due date of the written application would otherwise be a Saturday, Sunday or legal holiday under state or federal law, the due date is the next following day which is not a Saturday, Sunday or legal holiday under state or federal law. The department shall also consider as timely any application which if mailed is either postmarked no later than the applicable due date or received by the department no later than 3 days after that due date.

(c) The transferee may withdraw its application requesting successorship status if a written withdrawal is received by the department before the issuance of an initial determination regarding its application or within 21 days after issuance.

History: Cr. Register, January, 1992, No. 433 , eff. 2-1-92; CR 13-106 : am. (2) (a) Register July 2014 No. 703 , eff. 8-1-14.