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Scuba

(53,475 posts)
Thu Jun 9, 2016, 08:00 AM Jun 2016

Wisconsin: Beloit billionaire (who supports Walker and Trump) posts string of zeros on state returns

http://www.jsonline.com/news/statepolitics/beloit-billionaire-posts-string-of-zeros-on-state-returns-b99740692z1-382311081.html

Beloit 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 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. Judy Faulkner, founder and CEO at Epic Systems Corp., a Verona health care software company, came in third with an estimated net worth of $2.4 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 husband, Ken, in 1982, posts annual sales of about $6 billion. Ken Hendricks died in 2007.

...

Republican National Committee Chairman Reince Priebus in May named Hendricks to the leadership team for Trump Victory, a committee that will raise funds for Donald Trump's presidential campaign, the RNC and 11 state GOP committees. She has been a major ally and contributor to Gov. Scott Walker, pouring $5 million into a super PAC that was formed to support the Republican governor's failed presidential bid. She also gave $500,000 to Walker's 2012 recall campaign.
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Wisconsin: Beloit billionaire (who supports Walker and Trump) posts string of zeros on state returns (Original Post) Scuba Jun 2016 OP
Cheapskate! voteearlyvoteoften Jun 2016 #1
"Taxes are for little people" safeinOhio Jun 2016 #2
back in the 70s her company hendricks roofing were notorius slumlords in beloit dembotoz Jun 2016 #3
No clue. I never heard of her until the "divide and conquer the unions" video went viral ... Scuba Jun 2016 #4
The Weasel and The Shrew Angry Dragon Jun 2016 #5
Income is taxed, not wealth Jimbo S Jun 2016 #6

dembotoz

(16,784 posts)
3. back in the 70s her company hendricks roofing were notorius slumlords in beloit
Thu Jun 9, 2016, 08:55 AM
Jun 2016

did she unload those properties to clean up her rep with abc supply?

Jimbo S

(2,958 posts)
6. Income is taxed, not wealth
Fri Jun 10, 2016, 12:14 PM
Jun 2016

So I'm curious how she works it out so that she has zero AGI. Does she draw a $1 salary? Her wealth in stock? Charitable deductions? Maybe the tax bill will come due when she cashes out. She must have a good accountant.

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