WI SB654

Exempts persons engaged in contract research services from Wisconsin sales and use tax on machinery and equipment consumed or destroyed exclusively for qualified research

Defines "contract research services" as research conducted by one person on behalf of a customer that would constitute qualified research if performed by the customer's own employees

Expands the definition of "qualified research" to include research funded by contract research expenses as defined under Internal Revenue Code section 41(b)(3)

Current law already provides this exemption for manufacturers on manufacturing property and businesses primarily engaged in biotechnology; this adds contract research providers as a third eligible category

Takes effect on the first day of the 3rd month after publication