Beloit billionaire pays zero on state returns

Photo Credit: Mike De Sisti

From The Post-Crescent:

by Cary Spivek

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.

State records show Hendricks, who is now chairman of ABC Supply, paid $290,415 in Wisconsin income taxes in 2011. In addition, Scott Bianchini, ABC Supply tax director, said Hendricks paid $7.6 million in state income taxes for last year.

There is no public record of that 2015 payment since Hendricks received an extension to file the return. "You'll be able to verify that next year," Bianchini said.

Trump Victory Team

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.

Hendricks garnered unwanted attention in 2012 when she was caught on a videotape showing her talking with Walker about using a "divide and conquer" strategy toward unions.

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