Schedule Fw - Food Processing Plant And Food Warehouse Investment Credit - 2012 Page 2
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1
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3Instructions for 2012 Schedule FW
Purpose of Schedule FW
Credit is Income
Use Schedule FW to claim the food processing plant
The credit you compute on Schedule FW is income and
and food warehouse investment credit . This credit is
must be reported on your Wisconsin franchise or income
available to taxpayers who have invested to modernize
tax return as income in the year computed .
or expand food processing or food warehouse facilities in
Wisconsin and who have been certified by the Department
Specific Line Instructions
of Agriculture, Trade, and Consumer Protection (DATCP) .
For information regarding how to become certified, visit
Line 1: Fill in on lines 1a through 1k the amount paid
the DATCP web site at www .datcp .wi .gov or write to the
for constructing, improving, or acquiring buildings or
DATCP, PO Box 8911, Madison, WI 53708-8911 .
facilities, or acquiring equipment, for food processing or
food warehousing . The property must have been acquired
The credit is available for taxable years beginning on or
and placed in service in Wisconsin in the taxable year
after January 1, 2010, and before January 1, 2017 .
beginning in 2012 . The property must be used exclusively
for food processing or food warehousing .
Who is Eligible to Claim the Credit
“Food processing plant” means any place where food
processing is conducted, except it does not include (1)
Any individual, estate, trust, partnership, limited liability
dairy plants licensed under sec . 97 .20, Wis . Stats ., (2)
company (LLC), corporation or tax-exempt organization
meat establishments licensed under sec . 97 .42, Wis .
that has invested in modernizing or expanding food
Stats ., (3) retail food establishments, or (4) any restaurant
processing or food warehouse facilities in Wisconsin and
is certified by the DATCP may be eligible for the credit.
or other establishment holding a permit under sec . 254 .64,
Wis . Stats .
Partnerships, LLCs treated as partnerships, and tax-
“Food warehouse” means a warehouse used for the
option (S) corporations cannot claim the credit at the
storage of food, and includes a cold-storage warehouse,
entity level . However, the credit attributable to the entity’s
frozen-food warehouse and frozen-food locker plant . It
business operations passes through to the partners,
does not include: (1) a warehouse used solely for the
members, or shareholders .
storage of grain or other raw agricultural commodities,
No credit is allowed unless the claimant satisfies the
(2) a retail food establishment, restaurant or other retail
facility at which food is stored on a temporary basis
following requirements:
incidental to retail preparation or sale, (3) a warehouse
located in a dairy plant, a food processing plant, or a meat
• The claimant is certified by the DATCP
establishment, and used primarily for the storage of food
• The claimant has received from the DATCP notice of
ingredients or food products manufactured or processed
the amount of credit allocated to the claimant .
at the licensed establishment, (4) a warehouse operated
by a milk distributor and used primarily for the storage
Maximum Credit
and distribution of milk and fluid milk products, and (5) a
facility owned or operated by a consumer and used by
The maximum food processing plant and food warehouse
that consumer to store food for the consumer’s use .
investment credit allowed for taxable years that begin on
or after January 1, 2010, and before January 1, 2017, is
“Used exclusively” means to the exclusion of all other uses
$200,000 .
except for use not exceeding five percent of total use.
Note: The amount you enter on line 1 should match the
The aggregate amount of credit that a partnership, limited
liability company treated as a partnership, or tax-option (S)
amounts in your application to the Wisconsin DATCP .
corporation may compute may not exceed $200,000 . If
Line 3: Fill in the amount of credit allocated to you by
two or more persons own and operate the food processing
plant or food warehouse, each person may claim a credit
the Wisconsin DATCP based on the amounts you entered
in proportion to his or her ownership interest, except that
above .
the aggregate amount of credits claimed by all persons
who own and operate the food processing operation may
not exceed $200,000 .
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