SB 834

This bill creates an income and franchise tax credit for businesses that

purchase advertising in local media outlets. The credit equals 50 percent of the

advertising expenditures, limited to a maximum credit of $5,000. The credit may be

claimed only by businesses with fewer than 100 full-time employees and less than

$10,000,000 in revenue. The bill defines “local media outlet” to mean a newspaper

in Wisconsin that has at least 25 percent news content, a broadcast radio or television

station that is licensed by the Federal Communications Commission to serve a local

community in Wisconsin, or a Wisconsin-based Internet site that is meant to inform

users of news and events in a local community in Wisconsin.

Under the bill, if the business deducted the advertising expenditures under

federal law, the business must add the amount deducted to its Wisconsin income in

order to claim the credit. The bill provides that the credit may be claimed only for

taxable years beginning after December 31, 2021, and before January 1, 2027.