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Newspaper
Country Today
Location
Eau Claire, Wisconsin, United States of America
Date
Dec 24, 1986
Page
11
Wisconsin adopts major income tax revisions with new brackets and rates for single and married filers, higher filing thresholds, repeal of certain credits, extended net operating loss carryforwards, altered personal exemptions, and new joint credits. The changes take effect in 1986 with guidance from accountant Jim Bohl.
Wisconsin follows federal rules on meals deductibility and introduces 80 percent meal deductibility in 1987. It limits farm loss offsets for high income, sets standard deductions and credits, and outlines travel expense restrictions. The Madison Wisconsin Agri-Business Council meets January 6-7 with panels on liability, tax laws, and farm policy.
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