Wautoma, WI
Current Conditions
0:56 AM CST
Cloudy
Temperature
35°F
Dew Point
32°F
Humidity
89%
Wind
SSE at 8 mph
Barometer
29.92 in. F
Visibility
8.00 mi.
Sunrise
07:29 a.m.
Sunset
04:22 p.m.
Overnight Forecast (Midnight-7:00am)
Temperatures will range from 34 to 32 degrees with mostly cloudy skies. Winds will remain steady around 12 miles per hour from the south.
7-Day Forecast
Monday
34°F / 32°F
Light Snow
Monday
38°F / 32°F
Light Rain/Snow
Tuesday
36°F / 28°F
Scattered Showers
Wednesday
32°F / 23°F
Mostly Cloudy
Thursday
28°F / 22°F
Mostly Cloudy
Friday
33°F / 25°F
Snow
Saturday
26°F / -1°F
Light Snow
Detailed Short Term Forecast
Issued at 0:56 AM CST
Monday...Temperatures will range from a high of 34 to a low of 32 degrees with mostly cloudy skies. Winds will range between 11 and 13 miles per hour from the southsoutheast. Less than 1 inch of snow is possible.
...$dailyWea.get(0).segments.get($o).statement
Overnight ...Temperatures will range from 34 to 32 degrees with mostly cloudy skies. Winds will remain steady around 12 miles per hour from the south.
Monday...Temperatures will range from a high of 38 to a low of 32 degrees with cloudy skies. Winds will range between 10 and 18 miles per hour from the east. 0.49 inches of rain are expected. 1.00 inch of snow is expected.

New Wisconsin income tax credit kicks in for agriculture, manufacturing

Jan. 8, 2013 | 0 comments

With the start of 2013, Wisconsin's income tax law is giving a new credit to agricultural and manufacturing production. It is known as the Wisconsin Qualified Production Activities Credit.

Current Wisconsin law taxes agricultural and manufacturing net incomes at 7.9 percent. The new law will reduce that by 1.875 percentage point in 2013, 3.75 percent in 2014, 5.526 percent in 2015, and 7.5 percent in 2016, leaving the rate at .4 percent.

This incremental income tax credit was approved in the state's 2011 budget bill that was approved by the legislature and signed by Gov. Scott Walker on June 26, 2011.

It applies to the owners of productive agricultural and manufacturing entities, regardless of the type of ownership of the eligible business.

In agriculture, the tax credit belongs to the operators of agricultural land. This means that land renters, not the landlords, are eligible for the tax credit.

This credit is not available to construction firms, on the sale, rental, or leasing of land, food and beverages prepared at a retail establisment, or to utilities, engineering and architectural companies, or film producers.

It also does not apply to income that agricultural and manufacturing producers derive from investments, royalties, or other sources.

These are examples of the amount of income tax payments at the rate that applied through 2012 and what it will be in 2016 and thereafter: $9,875 and $500 on a taxable income of $125,000; $39,500 and $2,000 on a taxable income of $500,000; and $118,000 and $6,000 on a taxable income of $1.5 million.

According to the Wisconsin legislature's non-partisan fiscal bureau, income tax collections in Wisconsin would be reduced by $10.1 million in 2013 and escalating to $128.7 million annually in 2016 and beyond.

The legislation also allows the eligible entities to carry unused credits forward for up to 15 years.

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