Business Advantages
Business Advantages

Business Advantages – Tax Savings & Incentives

Tax Savings
Property Taxes
The National Association of Industrial and Office Properties (NAIOP) Comparative Tax Study reports that in 2007 taxes on a 70,000 sq. ft. building in Minnesota were $121,109.  Rates for a similar building in Wisconsin were $57,010.

Save more than 50% on industrial and commercial property taxes.  Since property taxes are a recurring business expense, the savings earned could go a long way in paying for a new or existing facility.

Corporate Income Tax
Wisconsin’s Corporate Income Tax flat rate is 7.9%.  Wisconsin Property Tax in 2007 was 2.11%.  Osceola’s property tax rate is $16.30 per $1,000 of assessed value.  Computers and related equipment, manufacturing machinery and equipment, manufacturing inventories, merchant’s inventories, and pollution controls equipment are all exempt from property tax.

Sales and Use Tax
Wisconsin’s sales tax rate is 5%.  Polk County sales tax rate is .5%. 

Business Cost Savings
Unemployment Compensation
Wisconsin has some of the lowest unemployment compensation taxes in the country. 
Base rate = $10,500
Minimum rate = 0.02%
Maximum rate = 9.75%
FUTA penalty – 0%
Wisconsin new employers (first two years) with payroll greater than $500,000 is 3.25%.

Workers Compensation
Wisconsin Worker’s Compensation premium rates are among the lowest in the country.  Rates have dropped since the 1990’s and compare very well to the overall average against bordering states.  In 2007-2008, Wisconsin averaged $3.85 in 29 industries as compared to $5.05 in Minnesota. 

Further information on business loans can be found at Regional Business Fund Loan Programs.