Posted Thursday, May 31, 2012 --- 7:00 a.m.
BELOIT, Wis. (AP) -- A Beloit billionaire who is Gov. Scott Walker's largest campaign donor owed no state taxes in 2010 because of a change in her corporation's structure.
State Department of Revenue records show Diane Hendricks' tax obligation dropped from $2.2 million in 2009 to zero in 2010. Hendricks owns ABC Supply Inc., the nation's largest wholesale distributor of roofing, windows and siding. Records show Hendricks had a seven-figure tax bill in four of the previous five years.
Hendricks is a financial supporter of conservative causes and has given Walker's campaign more than $500,000. ABC Supply's tax director Scott Bianchini tells the Journal Sentinel (http://bit.ly/KyJ792 ) the company changed its structure so the profits and the tax obligations stay with the company, not with Hendricks.
Information from: Milwaukee Journal Sentinel, http://www.jsonline.com
Copyright 2012. The Associated Press.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.