Wisconsin Ag Connection - State Senate Okays Dairy & Livestock Tax Credit Extension

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State Senate Okays Dairy & Livestock Tax Credit Extension
Wisconsin Ag Connection - 02/24/2011

Wisconsin's so-called Dairy and Livestock Tax Credit program, which is currently set to expire at the end of this year, is another step closer to being extended. This week, the State Senate passed a bill to add five more years to the tax credit.

Sen. Dan Kapanke, who chairs the Senate Ag Committee, sponsored the legislation. He says with many farmers still having trouble securing credit after the new federal banking regulations were passed, it may be an appropriate time to extend the program.

The La Crosse Republican says the tax credit provides dairy processors with an investment tax credit for expansion or modernization of their production facilities by providing for 10-percent of the expansion costs up to $75,000 per claimant.

If the extension is approved by the Assembly and signed by Governor Scott Walker, it will not expire again until the end of 2017.

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