The announcement of stimulus plans have been stirring about. Wisconsin farm organizations are pleased to see the inclusion of the dairy cooperative investment tax credit in Wisconsin’s stimulus package.
The Dairy business Association (DBA), Wisconsin Cheese Makers Association and the Wisconsin Farm Bureau will allow cooperative members a tax credit up to 10 percent of qualified investments. This means the credit will be capped at $200,000 per processing plant.
Senate Majority Leader Russ Decker, Assembly Speaker Mike Sheridan and Representative Amy Sue Vruwink proposed the tax credit to be distributed to members based on the amount of milk delivered to their cooperative.
According to the Associated Press, DBA director Laurie Fischer said, “Once again, Governor Doyle and legislative leaders have demonstrated a strong commitment to the state’s more than $20 billion dairy industry.”
The tax credit is meant to send an incentive to the modernization or expansion of existing cooperative manufacturing facilities. This means building constructions or additions, upgrades in processing and packaging equipment, improved technology or waste treatment.
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