MADISON – Governor Tony Evers signed Assembly Bill 10 into law today, a common sense initiative that will save taxpayer money and boost Wisconsin’s economy. Under current law, a business may deduct from its Wisconsin income or franchise taxes all expenses that the business paid to move operations out of the state or the country. This bill does not allow businesses to deduct expenses used to move their business outside of Wisconsin or the United States. It will ensure taxpayers are not subsidizing the moving costs for companies leaving Wisconsin. Sen. Feyen is proud to have authored this bipartisan bill and remains devoted to promoting economic growth and protecting the hard-earned money of Wisconsin taxpayers.
“We all want to see our economy grow and prosper. It’s common sense that one of the best ways to boost our economy is to encourage businesses to stay right here in the state of Wisconsin and invest in our future. Our tax dollars should not be wasted on subsidizing the moving costs for companies who are leaving the state,” Sen. Feyen said. “I’m proud of this bipartisan effort and can’t wait to keep working with my colleagues across the aisle to serve the hardworking people of Wisconsin.”