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Subject to the limitations under this subsection and s. 73.03 (35m) and s. 238.23, 2023 stats., and s. 560.96, 2009 stats., a business that is certified under s. 238.23 (3), 2023 stats., or s. 560.96 (3), 2009 stats., may claim as a credit against the taxes imposed under s. 71.23 an amount equal to the sum of the following, as established under s. 238.23 (3) (c), 2023 stats., or s. 560.96 (3) (c), 2009 stats.: 1. The amount of real and personal property taxes imposed under s. 70.01 that the business paid in the taxable year. 2. Ten percent of the following amounts of capital investments that are made by the business in the technology zone in the year to which the claim relates: a. The purchase price of depreciable, tangible personal property. b. The amount expended to acquire, construct, rehabilitate, remodel, or repair real property in a technology zone. 3. Fifteen percent of the amount that is spent for the first 12 months of wages for each job that is created in a technology zone after certification.
The amount of real and personal property taxes imposed under s. 70.01 that the business paid in the taxable year.
Ten percent of the following amounts of capital investments that are made by the business in the technology zone in the year to which the claim relates: a. The purchase price of depreciable, tangible personal property. b. The amount expended to acquire, construct, rehabilitate, remodel, or repair real property in a technology zone.
The purchase price of depreciable, tangible personal property.
The amount expended to acquire, construct, rehabilitate, remodel, or repair real property in a technology zone.
Fifteen percent of the amount that is spent for the first 12 months of wages for each job that is created in a technology zone after certification.
The department of revenue shall notify the department of commerce or the Wisconsin Economic Development Corporation of all claims under this subsection.
Subsection (5b) (e), (f), (g), and (h), as it applies to the credit under sub. (5b), applies to the credit under par. (a).
Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts under par. (a). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interest.
1. No amount described under par. (a) 2. may be used in the calculation of a credit under this subsection if that amount is used in the calculation of any other credit under this chapter. 2. The investments that relate to the amount described under par. (a) 2. for which a claimant makes a claim under this subsection must be retained for use in the technology zone for the period during which the claimant’s business is certified under s. 238.23 (3) or s. 560.96 (3), 2009 stats. [s. 560.96 (3), 2009 stats., or s. 238.23 (3), 2023 stats.].
No amount described under par. (a) 2. may be used in the calculation of a credit under this subsection if that amount is used in the calculation of any other credit under this chapter.
The investments that relate to the amount described under par. (a) 2. for which a claimant makes a claim under this subsection must be retained for use in the technology zone for the period during which the claimant’s business is certified under s. 238.23 (3) or s. 560.96 (3), 2009 stats. [s. 560.96 (3), 2009 stats., or s. 238.23 (3), 2023 stats.].
No credit may be allowed under this subsection unless the claimant includes with the claimant’s return: 1. A copy of the verification that the claimant’s business is certified under s. 238.23 (3) or s. 560.96 (3), 2009 stats., [s. 560.96 (3), 2009 stats., or s. 238.23 (3), 2023 stats.,] and that the business has entered into an agreement under s. 238.23 (3) (d) or s. 560.96 (3) (d), 2009 stats. [s. 560.96 (3) (d), 2009 stats., or s. 238.23 (3) (d), 2023 stats.]. 2. A statement from the department of commerce or the Wisconsin Economic Development Corporation verifying the purchase price of the investment described under par. (a) 2. and verifying that the investment fulfills the requirement under par. (e) 2.
A copy of the verification that the claimant’s business is certified under s. 238.23 (3) or s. 560.96 (3), 2009 stats., [s. 560.96 (3), 2009 stats., or s. 238.23 (3), 2023 stats.,] and that the business has entered into an agreement under s. 238.23 (3) (d) or s. 560.96 (3) (d), 2009 stats. [s. 560.96 (3) (d), 2009 stats., or s. 238.23 (3) (d), 2023 stats.].
A statement from the department of commerce or the Wisconsin Economic Development Corporation verifying the purchase price of the investment described under par. (a) 2. and verifying that the investment fulfills the requirement under par. (e) 2.