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Sunday, May 13, 2012

Hendricks ABC Supply Pays Zero State Corporate Tax

Beloit billionaire and co-chair of the Rock County 5.0, Diane Hendricks, is well known for her hard-line right-wing ideology and huge donations to Republican candidates for public office. But according to the Institute For Wisconsin's Future, her Beloit based ABC Supply company has not paid any state corporate income taxes for the most recently recorded years.

Institute For Wisconsin's Future Excerpt:
ABC Supply may be a huge money-maker for Hendricks, but the Wisconsin corporate income tax returns she files claim the company makes not a penny in taxable profit. ABC Supply paid exactly $0.00 in state corporate income tax in 2005, 2006, 2007 and 2008, according to the state Department of Revenue. Tax data for more recent years were not available when the information was requested from the department. more>>>

Diane Hendricks is fast becoming Wisconsin's very own Leona "only little people pay taxes" Helmsley.

UPDATE: One source has told me that ABC Supply filed their taxes as an S corporation for the years 2005-2008, and therefore state taxes on profits were paid by Hendricks personally.

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