Governor Evers Signs Bills Aimed at Helping Restaurants

Wednesday, March 9th, 2022 -- 9:00 AM

(WMTV) Gov. Tony Evers signed two bills into law Monday aimed at helping Wisconsin restaurants as they continue to recover from the financial impacts of the pandemic.

“Wisconsin’s restaurants play critical roles our communities, bringing people together, bolstering tourism and travel, and providing unique experiences to residents and visitors each day,” Evers said.

The first bill creates an income tax exemption under grants received from the Restaurant Revitalization Fund. It also makes sure expenses paid for by grant proceeds are deductible. The other bill increases the amount of ordinary income that can be offset by net capital losses from $500 to $3,000 at the start of 2023. It also extends the increased maximum net capital loss offset to tax option corporations electing to be taxed at an entity level.

Gov. Evers said he was happy to sign these bills as tax season is underway for restaurants. “They’ve shown amazing resilience, ingenuity, and flexibility over the last two years, but I know it hasn’t been easy and many are still struggling due to supply chain challenges, inflationary costs, and workforce challenges our state has faced for years,” Evers continued.

The governor added that he hoped the new bills would help restaurants thrive.

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