Billionaire Trump backer paid no state income tax for 3 years, records show.

[forest444]

Source: USA Today

Billionaire Diane Hendricks, the richest woman in Wisconsin and a vice chair of the Trump Victory fundraising committee, didn't pay a dime in state income tax from 2012 through 2014, records obtained by the Milwaukee Journal Sentinel show.

Hendricks, 69, has a net worth of nearly $5 billion, according to an estimate by Forbes Magazine, which this month named her "America's Richest Self-Made Woman" — edging out Oprah Winfrey, who the magazine said had a net worth of $3.1 billion.

Hendricks, co-founder and owner of ABC Supply Co. — the nation's largest supplier of roofing — also owed no state taxes in 2010, meaning she paid no Wisconsin income taxes in four out of five years. The company, which she founded with her late husband, Ken, in 1982, posts annual sales of about $6 billion. Ken Hendricks died in 2007.

State records show Hendricks, who is now chairman of ABC Supply, paid $290,415 in Wisconsin income taxes in 2011. In addition, Scott Bianchini, ABC Supply tax director, said Hendricks paid $7.6 million in state income taxes for last year.

There is no public record of that 2015 payment since Hendricks received an extension to file the return. "You'll be able to verify that next year," Bianchini said.

Read more: http://www.usatoday.com/story/news/nation-now/2016/06/09/billionaire-trump-backer-paid-no-state-income-tax-3-years-records-show/85650952/

[63splitwindow]

1. As Leona confirmed...

[valerief]

9. Ain't it the truth.

[DustyJoe]

2. 1 percenters

Just like facebook and google pay nothing or next to nothing in taxes using international money launder... errrr movements allowed by law. It's not right, but the 1%ers all do it, that's why their 1%ers.

[Scientific]

3. Hendricks is a quintessential Republican - sucking off the public tit, but

contributing nothing except contempt for the "little people" who are dutifully paying their taxes.

Wake up Americans. While you listen to and suck up the twisted lies of multi-millionaire Rush Limbaugh and watch Fox, Inc. Propaganda, the Republican 'elite' are bleeding you dry and laughing at you behind your backs. You are being suckered big time, and directed to aim your rage at the people on food stamps and welfare.

[reflection]

13. Bravo. N/T

[Wellstone ruled]

4. And ABC Supply recieved a

major tax break after their support for Walkers Recall reelection bid. As well as John Menard and the Family of Ashley Furniture.

[phazed0]

5. Meh. Isn't that what we are all basically voting for here?

I mean, if you're for the TPP then we need to take note that a big gripe about the TPP is that we will essentially allow for offshoring, cutting exports, etc which equals significantly less tax revenue, benefiting only the powerful elite, just like Diane Hendricks. Where do you think they are going to make up that lost tax revenue? Well, if I could so infer, it would likely hit 'us' more than the wealthy - but really, who knows because the actual details from team Clinton are sparse/lacking/nonexistant/insert synonym here...

http://www.aflcio.org/Blog/Economy/So-Now-the-TPP-Is-Just-a-Massive-Tax-Cut-Hardly

[Judi Lynn]

6. Another Republican wanting to give back to the people who enabled her to flourish wildly.

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[Cicada]

7. She may get a credit against Wisconsin tax for tax paid to another state

If she pays california a million dollars for her business profit in ca then wisc would give her credit for that on her wisc tax return when the same income is reported on her wisc tax return. If wisc tax rates are lower than the rate charged by a different state which taxes the same income then her wisc tax might well be zero. Because she already paid more tax on that income to the state where the business operates. So maybe this is reasonable given how states give credit for tax paid to a different state on so called double taxed income.

[PSPS]

11. It doesn't work that way, at least for me.

Since I have a "business nexus" in several states, I pay income tax in several states. Each state is paid income tax, but only on income derived within that state. There is no deduction off a state's tax for taxes paid to another state. In other words, you only report income to a state that is derived within that state.

Nevertheless, the default safe position to take on the subject of this thread is that if she meets these criteria, it is assumed they are bilking the system that they have paid to have rigged in their favor:

1. Republican
2. Billionaire

This lady meets all the criteria.

[Cicada]

14. Look at california ftb schedule s for example

Most home states tax all income no matter where it is earned but give a credit, not a deduction, for tax on that foreign state income paid to the foreign state. Here in california we file schedule s to get that credit.

[Sunlei]

8. part of a rich persons 'game' is to pay no taxes. Every 'vacation' is business travel.....

your property is a low tax 'farm', your 'club' is a 'tax free' non profit "charity", your race horse is a losing investment...

[valerief]

10. Another welfare queen. nt

[forest444]

12. And a "self-made" welfare queen no less.

What often gets overlooked in these Horatio Alger stories of "self-made" this and that, is that these are often cases of people who at some point landed gigantic (and little-monitored) public contracts of one type or another.

Just ask Ross Perot.