Wisconsin DOR Announces New Law Allows Tax-Option (S) Corporations to Elect Entity Level Taxation

The Wisconsin Department of Revenue Dec. 17 announced that 2017 Wisconsin Act 368 allows tax-option (S) corporations to elect to be taxed at the entity level for taxable years beginning on or after Jan. 1. Corporations that want to make this election can find more information on the cover page to the corporate income tax 2018 Form 5S, Wisconsin Tax-Option (S) Corporation Franchise or Income Tax Return. [Wis. Dep’t of Revenue, New Law Affects the 2018 Form 5S, 12/17/18]

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