Manufacturing and Agriculture Credit - C. Credit Computation

  1. How is the credit computed?

  2. How is the qualified production activities income limited for corporations?

  3. How is the credit limited for non-corporate claimants?

  4. In determining the amounts on Lines 1, 7 and 8, do we use the gross receipts determined under federal law?

  5. Line 8 of Schedule MA-A and MA-M requires the inclusion of all gross receipts. What does the term all gross receipts mean?

  6. When a sole proprietor pays his/her spouse wages, the wage expense reduces the amount of the credit. Can the sole proprietor use the credit to offset income tax resulting from the spouse's wage income since the wages were income from the business operations?


FOR QUESTIONS OR COMMENTS CONTACT:

WISCONSIN DEPARTMENT OF REVENUE
Corporation Franchise/Income Tax Assistance
PO Box 8906
Madison, WI 53708-8906
Phone: (608) 266-2772
Fax: (608) 267-0834
Email additional questions to DORFranchise@wisconsin.gov

February 1, 2019