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Wisconsin EMR Tax Credit

Alert Details

The Wisconsin Electronic Medical Records Credit is available to individuals and entities for taxable years that begin on or after January 1, 2012 for the amounts paid for information technology hardware and software used to maintain medical records in electronic format. Many of the details of the program are yet to be released; however, a general overview is as follows.

Who is eligible?

Individuals, estates, trusts, C-corporations, or LLCs disregarded as a separate entity may claim the credit.

To qualify for the EMR Credit, a claimant must purchase federally approved and certified hardware and software - which must be used to maintain medical records in an electronic format. The Wisconsin Department of Revenue (DOR) will then certify applicants as eligible to claim the credit. For a listing of the software, certified by the Federal Government, visit The Office of the National Coordinator for Health Information Technology website: http://oncchpl.force.com/ehrcert/EHRProductSearch?sett ing=Inpatient

Certification - what does it entail?

Applicants must be certified by the Wisconsin Department of Revenue prior to claiming the credit, and they must complete Schedule EM-C by January 31 of the year following the calendar year in which qualified information technology expenses are paid. This schedule will be available on the department's web site by December 1, 2012. The department will inform the applicant of the amount of credit they are certified for by the end of February.

Computation

The maximum credit for all claimants in a taxable year is $10,000,000. Each applicants' credit will be based on the expenditures submitted, but originally is scheduled to be 50% of amounts paid. If total program expenditures exceed $20,000,000, the credit will be allocated to applicants on a pro rata basis.

CLAIMING THE CREDIT

A schedule to be used for claiming the credit will be available on the department's web page by December 1, 2012.


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