Gov. Tony Evers signed into law Thursday, Feb. 18, a bill that makes loans administered through the federal government’s Paycheck Protection Program tax-deductible under Wisconsin’s tax code.
Assembly Bill 2 (AB 2) provides approximately $450 million in tax relief to Wisconsin businesses and $30 million more in tax relief to low-income families by adopting federal changes to align state tax law.
The governor also signed AB 3, which modifies the tax treatment of tax-option corporations that elect to pay at the entity level. See more.
The WICPA thanks the governor as well as the legislators who supported this bipartisan tax relief bill to help Wisconsin’s businesses.