Dairy and Livestock Farm Investment Tax Credit
Note: The 2015 Wisconsin State Budget signed on June 30, 2013, by Governor Walker establishes a new sunset for the Dairy and Livestock Farm Investment Tax Credit program. The tax credit is now set to sunset for investments after January 1, 2014. Businesses with eligible expenses during the 2013 tax year should apply before the February 15, 2014, application deadline to be included in the final round of this tax credit program.
The Wisconsin Dairy and Livestock Farm Investment Credit is a nonrefundable credit equal to 10% of the the amount a producer spends on dairy and livestock farm modernization or expansion. The maximum credit is $75,000. The credit is available for taxable years beginning on or after January 1, 2006 and before January 1, 2017.
This credit applies to the construction, improvement or acquisition of buildings or facilities; or the acquisition of equipment for housing, confinement, feeding, milk production, or waste management; related exclusively to dairy or livestock animals. Examples include:
- Milking parlors
- Freestall barns
- Robotic equipment
- Milk storage and cooling facilities
- Equipment used to produce energy
- Feed storage and handling equipment
- Manure pumping and storage facilities
- Watering facilities
- Bulk tanks
- Birthing and rearing structures
- Feedlot structures
- Fish hatchery buildings, fish processing buildings and fish rearing ponds