Audit: Foxconn Shouldn`t Get Tax Credits For Work Outside Wisconsin

The state’s Legislative Audit Bureau is recommending the Wisconsin Economic Development Corp. (WEDC) make several changes to how it oversees Foxconn’s tax credit program when it comes to employees.

While the Taiwanese tech giant has yet to actually receive any state tax credits to date because officials say they haven`t met promises laid out in their contract with WEDC, the nonpartisan bureau`s latest report found issues with the way the agency would administer certain credits.

The report found WEDC would not give tax credits for the wages paid to Foxconn employees who live in other states but work here. Even though they should.

At the same time, the audit found the agency would incorrectly allow Foxconn to receive credits for employees working outside Wisconsin.
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Ken Notes: They have not hit the target numbers yet but I believe they may in the future. I remain worried that getting to aggressive with renegotiating may give them a reason to pull up stakes and go home. Lets just keep talking and see where this leads us. I am also very glad to see Legislative Audit Bureau becoming a little more proactive...