Beloit Daily News: ABC structure change behind change in Hendricks’ tax bill
A Beloit billionaire who is Gov. Scott Walker’s largest campaign donor owed no Wisconsin taxes in 2010 because of a change in her corporation’s structure.
According to records from the state Department of Revenue and ABC Supply Inc., Diane Hendricks’ tax obligation dropped from $2.2 million in 2009 to zero in 2010. Hendricks owns ABC Supply, the nation’s largest wholesale distributor of roofing, windows and siding. Hendricks had a seven-figure tax bill in four of the previous five years, the records show.
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