Billionaire Walker donor pays no state corporate income tax
Diane Hendricks gave $500,000; her Beloit firm pays $0 income tax
Beloit billionaire businesswoman Diane Hendricks has been in the news recently because of her political activism on behalf of Gov. Scott Walker. It was in a conversation with Hendricks that Walker made his now-famous comment about using a “divide and conquer” strategy against labor unions.
During a three-month period in 2012, Hendricks donated $500,000 to Walker’s campaign, according to the Wisconsin Democracy Campaign. She is the largest single donor to the governor’s anti-recall campaign, outspending even fellow billionaires Sheldon Adelson (Las Vegas casinos) and Richard DeVos (Amway).
Hendricks, whom Forbes magazine says is worth $2.8 billion, heads Beloit-based ABC Supply Company, which the magazine calls “the nation’s largest roofing, window and siding wholesale distributor” with annual sales approaching $5 billion.
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. http://thepoliticalenvironment.blogspot.com/2012/05/company-owned-by-walkers-biggest-donor.html
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