Section 164.40. Certifications for applicants, and allocation of tax credits.

 

(1)  After receipt of the applications submitted under s. ATCP 164.30 , the department shall issue certifications for the applicants that have met the criteria in s. ATCP 164.30 (2) to (4) .

(2)  In conjunction with issuing a certification for an applicant, the department shall determine the maximum amount of tax credit that the applicant may either claim or distribute to its partners, members or shareholders.

(3)  

(a) Due to the $300,000 and $700,000 maximum totals established in s. 93.545 (2) , Stats., for allocations in fiscal years 2009-10 and thereafter, respectively, the department may allocate the tax credits in a manner that the department believes is most likely to promote economic development.

(b) In determining the allocation of tax credits under par. (a) , the department shall consider all of the following:

1. The jobs created by the project.

2. The salaries, wages and other employee benefits of the jobs created by the project.

3. The impact of the project on the meat processing industry in Wisconsin.

4. The extent to which the area served by the project is economically distressed.

5. The amount of new, eligible capital investment in the project.

6. The impact of the project on business in Wisconsin.

7. Any previous assistance from the department.

(c) The department may prorate some or all of the allocations in order to broaden the potential for promoting economic development and to address the criteria in par. (b) .

CR 10-007 : cr. Register August 2010 No. 656 , eff. 9-1-10; correction in (1), (3) (a) made under s. 13.92 (4) (b) 7. , Stats., Register October 2011 No. 670 .

Note

Under chapter 71 of the Statutes, the aggregate amount of credits that a taxpayer may claim under this chapter is $200,000; except that partnerships, limited liability companies, tax-option corporations and other multiple-owner entities are limited to an aggregate of $200,000 for a facility. Microsoft Windows NT 6.1.7601 Service Pack 1