Wautoma, WI
Current Conditions
0:56 AM CST
Cloudy
Temperature
21°F
Dew Point
16°F
Humidity
81%
Wind
CM at 0 mph
Barometer
30.20 in. F
Visibility
10.00 mi.
Sunrise
07:16 a.m.
Sunset
05:05 p.m.
Morning Forecast (7:00am-12:00pm)
Temperatures will range from 19 to 28 degrees with mostly cloudy skies. Winds will range between 5 and 9 miles per hour from the west. No precipitation is expected.
7-Day Forecast
Saturday
30°F / 12°F
Snow
Sunday
12°F / 1°F
Snow Showers
Monday
14°F / 1°F
Partly Cloudy
Tuesday
19°F / 7°F
Snow
Wednesday
9°F / -3°F
Partly Cloudy
Thursday
2°F / -3°F
Partly Cloudy
Friday
21°F / -2°F
Cloudy
Detailed Short Term Forecast
Issued at 0:56 AM CST
Saturday...Temperatures will range from a high of 30 to a low of 12 degrees with mostly cloudy skies. Winds will range between 5 and 22 miles per hour from the northeast. 3.50 inches of snow are expected.
This Afternoon ...Temperatures will range from 30 to 25 degrees with partly cloudy skies. Winds will remain steady around 6 miles per hour from the northeast. No precipitation is expected.
This Evening ...Temperatures will range from 24 to 17 degrees with cloudy skies. Winds will range between 10 and 19 miles per hour from the northeast. Expect snow accumulation of less than one inch.
Overnight ...Temperatures will range from 16 to 14 degrees with cloudy skies. Winds will range between 18 and 22 miles per hour from the northeast. Anticipate snow accumulation of 1 to 3 inches.
Sunday...Temperatures will range from a high of 12 to a low of 1 degrees with partly cloudy skies. Winds will range between 8 and 24 miles per hour from the northnortheast. 3.70 inches of snow are 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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