State Codes and Statutes

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560.28

560.28 Manufacturing investment credit.

560.28(1)

(1) Definition. In this section, "full-time job" means a regular, nonseasonal full-time position in which an individual, as a condition of employment, is required to work at least 35 hours in a week.

560.28(2)

(2) Certification. The department shall promulgate rules for the certification of businesses as eligible to claim tax credits under s. 71.07 (3t), 71.28 (3t), or 71.47 (3t). The rules shall permit a business to obtain a certification only if the person satisfies one of the following conditions:

560.28(2)(a)

(a) The business has retained from December 23, 2003, 100 percent of the business's full-time jobs in this state.

560.28(2)(b)

(b) The business's average annual investment in this state since January 1, 2003, is equal to no less than 2 percent of the total book value of the business's depreciable assets in facilities that are based in this state.

560.28(2)(c)

(c) The business's average annual investment in this state since January 1, 2003, is no less than $5,000,000.

560.28(2)(d)

(d) Any other criteria that is specific to an industry, as promulgated by rule by the department of commerce, in consultation with the department of revenue.

560.28 - ANNOT.

History: 2003 a. 99.

560.28 - ANNOT.

Cross Reference: See also ch. Comm 130, Wis. adm. code.