May 4, 2015
At your request, I am providing information regarding the jobs tax credit program. The jobs tax credit is a refundable tax credit that can be claimed against the individual income tax, including the alternative minimum tax, and the corporate income/franchise tax for up to 10% of the eligible wages paid to an eligible employee up to $10,000 per employee and/or the amount of costs incurred to undertake training activities in a tax year, as determined by the Wisconsin Economic Development Corporation (WEDC). WEDC may certify a claimant to receive tax credits for up to 10 years if the person: (a) is operating, or intends to operate, a business in this state; and (b) applies and enters into a contract with WEDC, prior to certification or verification of tax credits, that includes penalties for non-compliance. The maximum amount of jobs tax credits that WEDC can allocate in a calendar year is $10 million. In addition to the $10 million limit, WEDC is authorized to reallocate angel and early stage seed investment tax credits that are unused in any calendar year to persons eligible for the jobs tax credit, subject to a 14-day passive review by the Joint Committee on Finance.