Evers ends tax break for fleeing biz
Gov. Tony Evers has signed into law a bill that eliminates a tax benefit for companies that move out of Wisconsin, according to the Associated Press.
The measure, which gained bipartisan support in the state Legislature, does not allow a business to deduct expenses if they move out of state. Under current law, a business may deduct from its income or tax liability all expenses paid to move from one location to another, but the new law confines the tax break to in-state moves.
The state Department of Revenue estimates the change will result in less than $1 million a year in taxes paid, but it eliminates an incentive to move a business outside of Wisconsin.