The vast majority of business in WI that are qualifying for the credits are either S-Corporations or Partnerships. So while the credit is "allocated" to the business, the business is a pass-through entity and passes the credits to the owners/partners. The owners can then use the credits to offset other WI income.
OK, I have a real question. (I was pretty sure nobody receiving EITC would sell their credits even if they could.) Can the business owners who buy the tax credits apply them to personal income, or only to their business income, or is there a gray area (maybe with how partnerships treat the benefit)?
The tax code is obviously a public document and is no secret, but if the general public focused on some of these provisions I think they'd be disgusted at the extent to which the code has been written to the benefit of those with the greatest access. This of course is part of what Bernie Sanders and even Elizabeth Warren are trying to tell us, but it's not easily expressed in a sound bite so it doesn't get the attention it deserves.
In the matter of business tax credits, from what I can tell the state is choosing to reduce its revenue from corporations and those corporations get to convert this benefit (by selling the credits) to cash in hand, while passing the benefit to other corporations (not specified or listed) who get to reduce THEIR state tax liability too. All these benefits happen above the heads of the middle class taxpayer. I doubt this is what the middle class taxpayer would vote for if he or she knew the details. We should at least get a count of the jobs "created" and the personal income "created" to see if we got our money's worth.