Doyle Signs Corporate Tax Break

By: Associated Press
By: Associated Press

The change is embraced by the state's large manufacturers. It's expected to cut taxes for multi-state corporations by $45 million a year when fully implemented in 2008.

Corporations doing business in Wisconsin and other states would be taxed only on their sales here under the legislation. It would also change the state's formula for figuring corporate taxes so such businesses would no longer be taxed based on the size of their payrolls or the amount of property they hold.

The Department of Revenue estimates the biggest benefactor of the change would be large manufacturers. They pay 30 percent of Wisconsin's corporate income taxes but would receive more than 90 percent of the benefit.

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