Here's an example of how the government can help your business. (as presented by Lori Lutzka at the May 14, 2009 meeting of the Bay View Business Association.)
The Tax Incentive District – Too much government? If you own a business on Kinnickinnic Avenue, BUT ONLY North of Russell Avenue AND South of Becher Street, AND ONLY on the west side of Kinnickinnic Avenue, IF you meet the residency requirements, AND IF you have employees, THEN you can receive a Wage Credit of 15% on the FIRST $10,000 in wages, on your FEDERAL TAX.So, let's get this straight, after filling out the Municipal Mandatory Sick Leave Compliance, Federal, FUTA, State taxes for your employees, then bowing down to the municipal government, you're allowed by the city to deduct $1500 from the income on which you pay taxes to the Federal Government. Figuring out hundreds of these little government hurdles can be a full-time occupation, leaving little or no time for running your actual business.
And Lori told us that there was another program of tax incentives for building rehabilitation, but unlike the Tax Incentive District program, the rehab program was complicated. Thanks a lot.
Taxpayer's-eye view of Milwaukee Business Improvement District #44 activities.
BID#44 is funded by a mandatory tax surcharge
on all commercial building owners within the District.
Comments are welcome on this forum.
1 comment:
Take a look at this list of BAY VIEW businesses--it is long. Some are well-known institutions in the area, some are newer, but they are all BAY VIEW businesses that have something in common (which will be explained at the end of the list):
Groppi's/Sendik's
Pick 'n' Save,
Home Depot,
Applebee's,
HRBlock,
Sentry,
Arby's,
Wendy's,
Target,
SuperAmerica,
Starbucks (Holt Avenue),
Starbucks (Oklahoma Avenue), Walgreen's,
Canfora Bakery,
The Gyros Stand,
M & I Bank,
Mc Donald's,
Outpost,
Bella's,
Niemann-Suminski Funeral Parlour, Tenuta's,
Hi-Fi,
the veterinary clinic on Chase Avenue
the dentist on Chase Avenue, Cousin's Subs,
Natural Pet,
Pizza Hut,
The strip malls on Chase Avenue,
Mobil on Clement & Oklahoma,
Andy's gas station,
Anodyne,
The White House
2900 Club,
Club Garibaldi,
DeMarini's
and many, many more I haven't either thought of or didn't know about.
Now--according to Ms. Lutzka's definition of the Bay View TID, all these businesses are NOT included because they are south of Russell Avenue, or east of Kinnickinnic Avenue.
If you look at this list you will see everything from big national chains (Home Depot, Mc Donald's, etc.) to local big businesses (M&I, Pick 'n' Save), to small independent businesses (Tenuta's, The Gyros Stand). But they won't be included in the TID because they're located one way or the other outside of the boundaries.
And...ironies of ironies...Ms. Lutzka said that the rehab project was MORE complicated than the TID.
Sure thing.
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