Wisconsin

Wisconsin Historic Tax Credit Summary

• Applicable against individual income tax as well as the income and franchise taxes imposed on corporations and insurance companies.
• May offset 100% of taxpayer’s liability.
• Credits are transferrable.
• If DOR adjusts or disallows (in whole or in part) a credit transferred, only the person who originally transferred the credit is liable to repay the adjusted or disallowed amount.
• Credits can be carried forward for the following 15 years to the extent not offset by taxes due in all the intervening years.

Wisconsin Affordable Housing Tax Credit Summary

• Applicable against income taxes of any taxpayer, franchise taxes, and insurance gross premiums taxes.
• May offset 100% of taxpayer’s liability.
• Excess credits carry forward for 15 years.
• Each credit period is 6 taxable years, beginning with the taxable year in which a qualified development is placed in service.
• Compliance period is the 15 year period after the development is placed in service.
• Taxpayer’s claiming credits must include a copy of the allocation certificate with their returns.