On last Thursday’s ON THE RECORD at 10pm/ET, Wisconsin lieutenant governor candidate Mahlon Mitchell made the following comment about ABC Supply Co. owner Diane Hendricks: “Well, I think you got to look at people like Diane Hendricks, who’s one of Scott Walker’s buddy billionaires, who paid no corporate tax last year and is worth over $2.8 billion. So I think if you look at the tax breaks and loopholes that we have in our state, if we were to fill some of those loopholes, I would imagine you’d find more than $3.6 billion to balance the budget.”
ABC Supply’s tax director Scott Bianchini sent us this statement in response to Mitchell’s remarks:
Statement regarding Diane Hendricks and ABC Supply’s Income Taxes:
Mahlon Mitchell recently said the following: “Well, I think you got to look at people like Diane Hendricks, who’s one of Scott Walker’s buddy billionaires, who paid no corporate tax last year and is worth over $2.8 billion.”
ABC Supply has paid $1,078,000 in estimated corporate income taxes to Wisconsin for 2011. ABC operates nationwide and pays income taxes to many other states where ABC has a larger business presence such as California, Texas, Florida, New York, and Illinois. ABC has paid many millions of dollars in corporate income taxes to these states and others as well as federal corporate income taxes. In support of the Wisconsin taxes, I have attached substantiation for ABC Supply’s estimated payments for 2011 Wisconsin corporate income taxes. These payments total $1,078,000.
ABC Supply’s 2011 Wisconsin corporate income tax return has yet to be filed. Like many other taxpayers, ABC extended the filing date of their 2011 Wisconsin tax return from March 15, 2012 to September 17, 2012. Therefore, neither the State of Wisconsin nor Mahlon Mitchell has any data yet regarding ABC Supply’s 2011 corporate income tax return as it has yet to be filed. However, once it’s filed, it will become a matter of public record that for 2011 ABC Supply paid over $1 million of corporate Wisconsin income taxes.
Finally, Mr. Mitchell refers to Diane Hendricks paying corporate income taxes. Individuals don’t pay corporate taxes, only corporations pay corporate taxes.
Mr. Mitchell’s statements are inaccurate and uninformed in every respect.