Gov. Scott Walker was among the keynote speakers at Thursday’s “Manufacturing Matters!” conference presented by the Wisconsin Manufacturing Extension Partnership (WMEP).
In addition to addressing his plans to cut taxes and promoting the recently-expanded “Wisconsin Fast Forward” initiative, Gov. Walker touted the benefits of the Manufacturing and Agriculture Tax Credit, saying it is “improving the state’s business climate.”
The tax credit was passed in 2011 and began to take effect in 2013.
Walker said the tax credit “wipes out taxable liability” for manufacturers.
The tax credit was also discussed at one of the conference’s afternoon sessions held by the state’s largest business group, Wisconsin Manufacturers & Commerce (WMC), titled “Legislative Review: Pending laws and regulations that impact your business.”
Scott Manley, chief lobbyist for the WMC, said in the presentation that the “full phase-in” for the tax credit will occur in 2016, and “will virtually eliminate income taxes for manufacturers and (agriculture) producers.”
More information on the tax credit can be found at the Wisconsin Department of Revenue’s website.