Wisconsin Statutes 238.365 – Certification for tax benefits
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The corporation shall do all of the following:
Terms Used In Wisconsin Statutes 238.365
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- Population: means that shown by the most recent regular or special federal census. See Wisconsin Statutes 990.01
(1) Evaluate the likelihood that a person applying for tax benefits engages or will engage in economic activity consistent with the development zone application.
(2) Determine whether a person applying for tax benefits engages or will engage in economic activity that violates s. 238.38 (1).
(3) Subject to s. 238.38, certify persons who are eligible to claim tax benefits while an area is designated as a development zone, according to the following criteria:
(a) The likelihood that the person will continue to conduct economic activity in the area following expiration of the designation of the area as a development zone.
(b) The person’s commitment not to engage in economic activity that violates s. 238.38 (1).
(bm) The person’s commitment to use techniques or processes that reduce or eliminate the use of ozone-depleting substances that are listed as class I substances under 42 U.S. Code § 7671a.
(c) The number of full-time jobs that will be created, retained, or substantially upgraded as a result of the person’s economic activity in relation to the amount of tax benefits estimated for the person under sub. (4).
(d) The person’s plans to make reasonable attempts to hire employees from the targeted population.
(e) The amount the person proposes to invest in a business, or spend on the construction, rehabilitation, repair, or remodeling of a building, located within the development zone.
(f) The likelihood that the person’s economic activity will attract other forms of economic activity to the development zone.
(g) Whether the person’s proposed economic activity is consistent with the development zone application.
(h) The effects of the person’s proposed investment on the economic and social well-being of the targeted population.
(j) Any other criteria established under rules adopted by the corporation.
(4) Within 3 months after a person is certified under sub. (3), estimate the amount of tax benefits that the person will claim while an area is designated as a development zone.
(5) Provide a person certified under sub. (3) and the department of revenue with a copy of the certification. The certification shall include all of the following:
(a) The name and address of the person’s business.
(b) The appropriate Wisconsin tax identification number of the person.
(c) The names and addresses of other locations outside of the development zone where the person conducts business and a description of the business activities conducted at those locations.
(d) The estimated total investment of the person in the development zone.
(e) The estimated number of full-time jobs that will be created, retained, or significantly upgraded in the development zone because of the person’s business.
(f) An estimate of the number or percentage of full-time jobs described in par. (e) that are or will likely be held by members of the targeted population.
(g) The limit under s. 238.368 on tax benefits the person may claim while an area is designated as a development zone.
(h) Other information required by the corporation or the department of revenue.