Applicants should have either a valid food processing license or a food warehouse license from the State, Federal or local government agency.
Businesses which are eligible to apply for Wisconsin's Dairy Manufacturing Facility Investment Credit or the Meat Processing Facility Investment Credit are not eligible for the Food Processing Plant and Food Warehouse Investment Credit. Retail establishments, including restaurants, are also not eligible.
A claimant of the credits may include either the operator of a food processing or food warehousing operation, or an owner of a building or facility in which the operation occurs.
Businesses must submit an application form listing the eligible expenses for the taxable year. Each application must be completed and delivered to the Department after the end of the applicant's taxable year in which the eligible capital investments occurred, and no later than February 15 of the subsequent taxable year.
If credits are approved by the Department, a claimant must use Department of Revenue Schedule FW to claim them. The form is available at the Wisconsin Department of Revenue website.
Businesses can earn up to 10% of the eligible expenses spent in the taxable year for modernizing and expanding food processing plants and food warehouses. The maximum amount a claimant can receive over the life of the program is $200,000. The Department has $700,000 for each fiscal year. The Department may prorate some or all of the allocations in order to broaden the potential for promoting economic development.
For more information on the program and eligibility requirements, contact Mike Bandli of DATCP at 608-224-5136 or firstname.lastname@example.org