There is no maximum dollar limit for the credit however, the maximum amount of credit that may be claimed is up to the gross tax computed from the business operations that were used to claim the credit on the corporate franchise or income tax return. income taxable to Wisconsin as determined by combined reporting law, if the corporation is a member of a Wisconsin combined group.eligible qualified production activities income,.The credit amounts to 7.5% of “eligible qualified production activities income,” resulting in an effective corporate tax rate of 0.4%.įor a corporation, eligible qualified production activities income is the lesser of: The Manufacturing and Agriculture Credit is available to individuals and entities for income derived from manufacturing or agricultural property located in Wisconsin and will offset a significant share of Wisconsin income taxes. Chief among them is the Manufacturing and Agriculture Credit, which virtually eliminates the tax on income from manufacturing activity in the state. And because innovations in this industry continue to create a competitive advantage for our state, we provide specific incentives to manufacturers to maximize their production here. Wisconsin is well known for our manufacturing leadership.
