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Key Votes

AB 7 - Small Business Tax Credit - Key Vote

Wisconsin Key Votes

Scott Walker signed this Legislation.

Read statements Scott Walker made in this general time period.

Stages

Family

Issues

Note

NOTE: THIS BILL WAS VOTED ON DURING A SPECIAL SESSION OF THE LEGISLATURE

Stage Details

Legislation - Signed (Executive) -

Title: Small Business Tax Credit

Legislation - Bill Passed (Senate) (25-8) -

Title: Small Business Tax Credit

Vote Smart's Synopsis:

Vote to pass a bill that establishes a tax credit for businesses, effective January 1, 2011.

Highlights:
  • Establishes a 15 percent tax credit for businesses with no more than $250,000 in gross receipts (Sec. 2).
  • Establishes a tax credit equal to 15 percent for businesses with more than $250,000 but less than $500,000 in gross receipts, minus the total of the gross receipts that exceed $250,000 multiplied by 0.00006 percent (Sec. 2).
  • Prohibits businesses with more than $500,000 in gross receipts from claiming the tax credit (Sec. 2).
  • Prohibits partnerships, limited liability companies, and tax-option corporations from claiming the credit (Sec. 2).
  • Defines "gross receipts" as items included in gross income including, but not limited to, the following (Sec. 2):
    • Gross sales;
    • Gross dividends;
    • Gross interest income; and
    • Gross rents.
Legislation - Bill Passed (House) (60-33) - (Key vote)

Title: Small Business Tax Credit

Vote Smart's Synopsis:

Vote to pass a bill that establishes a tax credit for businesses, effective January 1, 2011.

Highlights:
  • Establishes a 15 percent tax credit for businesses with no more than $250,000 in gross receipts (Sec. 2).
  • Establishes a tax credit equal to 15 percent for businesses with more than $250,000 but less than $500,000 in gross receipts, minus the total of the gross receipts that exceed $250,000 multiplied by 0.00006 percent (Sec. 2).
  • Prohibits businesses with more than $500,000 in gross receipts from claiming the tax credit (Sec. 2).
  • Prohibits partnerships, limited liability companies, and tax-option corporations from claiming the credit (Sec. 2).
  • Defines "gross receipts" as items included in gross income including, but not limited to, the following (Sec. 2):
    • Gross sales;
    • Gross dividends;
    • Gross interest income; and
    • Gross rents.
Legislation - Introduced (House) -

Title: Small Business Tax Credit

Committee Sponsors

By Requests

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