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Wisconsin enacts legislation reducing taxes, amending net operating loss provisions

On March 24, Wisconsin Gov. Scott Walker signed legislation which provides for individual income tax and property tax relief. Also, for corporate income taxpayers the net operating loss carryforward period is extended from 15 to 20 years. Furthermore, the sales tax exemption for commercial printing is amended. The legislation was requested by the governor in light of an expected $1 billion budget surplus.

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