560.2085 Qualified new business ventures. - Wisconsin Statutes

560.2085

560.2085 Qualified new business ventures.

560.2085(1)

(1) The department shall implement a program to certify qualified new business ventures for purposes of s. 71.05 (24). A business desiring certification shall submit an application to the department in each taxable year for which the business desires certification. Subject to sub. (2), a business may be certified under this subsection, and may maintain such certification, only if the business is engaged in one of the following:

560.2085(1)(a)

(a) Developing a new product or business process.

560.2085(1)(b)

(b) Manufacturing, agriculture, or processing or assembling products and conducting research and development.

560.2085(2)

(2) The department may not certify a business under sub. (1) if the business is engaged in real estate development, insurance, banking, lending, lobbying, political consultation, professional services provided by attorneys, accountants, business consultants, physicians, or health care consultants, wholesale or retail sales, leisure, hospitality, transportation, or construction.

560.2085(3)

(3)

560.2085(3)(a)

(a) The department shall maintain a list of businesses certified under sub. (1) and shall permit public access to the lists through the department's Internet Web site.

560.2085(3)(b)

(b) The department of commerce shall notify the department of revenue of every certification issued under sub. (1) and the date on which a certification under sub. (1) is revoked or expires.

560.2085 - ANNOT.

History: 2009 a. 28 s. 3073; 2009 a. 276 s. 83.