Madison, WI — State Representative Alex Dallman joined his Assembly colleagues in passing Assembly Bill 717, which requires an income and franchise tax exemption for restaurant owners who received a Restaurant Revitalization Fund grant.
“This Restaurant Revitalization Fund was crucial for restaurants to stay in business and retain their employees,” said Representative Dallman. “We saw over the last two years how thousands of restaurants have struggled to make ends meet, and I think it would make things even worse, by taxing these emergency lifelines.”
15% of Wisconsin restaurants have permanently closed since the beginning of the pandemic and thousands of others continue to try to navigate COVID-19 restrictions.
“This bill will directly help many of our local restaurants in the 41st District and across the State who utilized the Restaurant Revitalization Fund to remain operational. I am always encouraged when we can pass legislation to help out small businesses and their employees,” continued Representative Dallman.
AB 717 updates the Wisconsin tax code treatment of Restaurant Revitalization Fund grants to conform to federal tax code, treating these grants as nontaxable income.