Monday, March 30, 2015


"Welcome to Wisconsin"


Last week, I met with Governor Walker to discuss a new proposal that I believe will bring new businesses to the state. I call my plan "Welcome to Wisconsin."

The bill proposes a 20 year tax holiday for eligible businesses. To be eligible, businesses must not produce products that directly compete with those of a current Wisconsin-based company. The bill allows corporations to receive an income or franchise tax exemption, and grants owners of “pass-through” businesses (partnerships, LLCs and S-corporations) non-refundable individual income tax credits equal to 7.65 percent of income from profits on sales of non-competing products.

Additionally, income tax revenues collected from employees of a eligible businesses will be used to decrease individual income tax rates proportionally the following year. After the 20 year sunset, the Department of Revenue will use the corporate and franchise tax revenues collected from corporations that took the exemption and decrease corporate tax rates across the state.  

“Welcome to Wisconsin” will be administered by the Forward Wisconsin Development Authority board. Board members will ensure that businesses looking to take advantage of the program do not produce a product that currently competes with that of a current Wisconsin company.

Along with right to work and the Manufacturing and Agriculture credit, I believe that this bill is one more tool that will allow us to remain at the table with a business considering relocation to the Midwest. The benefits for Wisconsin taxpayers will include more family supporting jobs, a wider spectrum of job opportunities and individual income tax reductions based on the income taxes collected from the new corporate entities.

 

 

To view my plan, please visit my website at http://legis.wisconsin.gov/assembly/59/kremer/legislative-proposals/welcome-to-wisconsin/. There you will find the actual language of the bill, along with press releases and other important information about the proposal.

 

Please feel free to contact me with any questions or feedback you may have on this proposal.

I look forward to hearing from you!

 


Video Address


Please click the picture below to watch my latest video address, in which I discuss the state budget and "Welcome to Wisconsin."

 


My Thoughts on Education


You can view my latest education and budget related opinion piece on my website. Please click here to read what I have to say about the current state of our education system in Wisconsin.


Your Feedback is Important!


As always, I hope this information is helpful to you. Please know that I welcome your feedback, questions and concerns. To contact me, you can call my office toll-free at (888) 534-0059, or email me at Rep.Kremer@legis.wisconsin.gov.

I look forward to hearing from you!

Sincerely,

 

 
     

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State Capitol,
Room 17 West - P.O. Box 8952, Madison, WI 53708
(608) 266-9175
Email:Rep.Kremer@legis.wisconsin.gov