Business Taxes & Incentives
Wisconsin and Racine County offers business and industry a low-cost place to do business. The following is a summary of our business tax structure and statutory incentives.
TAX |
RATE |
Corporate Income (flat rate) |
7.9% |
Apportionment Formula (to become 100% based on sales beginning in 2008): |
|
Sales |
60% |
Property |
20% |
Payroll |
20% |
|
|
Sales/Use |
5% |
|
|
Pollution controls equipment |
Exempt |
Materials consumed |
Exempt |
Manufacturing energy |
100% Tax Credit |
Computer equipment |
Exempt |
Manufacturing machinery & equipment |
Exempt |
Manufacturing inventories |
Exempt |
Merchant's inventories |
Exempt |
|
|
Unemployment Compensation |
|
New employers (3 yrs.), payroll < than $500,000 |
3.05% |
New employers (3 yrs.), payroll > than $500,000 |
3.25% |
Base |
$10,500 |
Minimum/Maximum |
0.00%-9.75% |
FUTA penalty |
0% |
|
|
Workers Compensation |
|
Average in manufacturing |
$4.43/$100.00 |
|
|
Personal Income |
|
$ 0-$10,630 |
4.6% |
$10,631-$132,259 |
6.15% |
$132,260-$153,249 |
6.5% |
$153,250 + |
6.75% |
60% Capital gains exclusion |
