Wisconsin Gov. Scott Walker has signed a bill into law at Gulfstream Aerospace Corp. in Appleton that would benefit aviation companies across the state.
The bill Walker signed Thursday will exempt aviation companies like Gulfstream and Cessna in Milwaukee from having to pay sales taxes on aircraft maintenance parts and labor.
Advocates for the measure say having to pay the sales tax puts Wisconsin-based companies at a competitive disadvantage because aircraft owners are taking their business to other states that don't charge the tax.
Supporters say the tax cut would cost about $3 million a year in lost revenue, but it would generate more than twice that much in increased business for the aviation companies.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.