State Credit Name: Wisconsin Credit for Increasing Research Expenses
Expiration Date: Indefinite
Who Can Apply? Corporations and flow-through entities
Credit Carry Forward: Unused credits can be carried forward and credited against the Wisconsin income or franchise taxes for 15 years.
About the Credit: When using the regular credit method, the credit rate is 5% of Wisconsin QRE’s that surpass a base amount. A base amount is the product of the taxpayer’s fixed base percentage and the average gross receipts of the taxpayer for the four years previous to the credit year. Taxpayers who select the Alternative Simplified Credit method will have 3 different credit rates to choose from, ranging from 2.65% to 3.75%, depending on the amount of the QRE’s being claimed.
Notes: Prior to January 1, 2013, only C-Corporations were eligible for the Wisconsin R&D credit.
Click here to find out if you qualify for the federal research credit.
Contact your local Swanson Reed office to speak with a representative in your area today.