New Law to Cut Businesses’ Taxes

New Law to Cut Businesses’ Taxes

Wisconsin businesses that accepted loans from the federal government during the pandemic can now deduct those loans under the state’s tax code. 

Governor Tony Evers signed the bill into law today.  The loans are part of the government’s Paycheck Protection Program and have been deductible under federal law.  The new state law will cut those businesses’ taxes by nearly 500-million-dollars.  

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