Wis. Stat. § 126.60 — WI Code / Chapter 126 / Section 126.60
Contributing vegetable contractors; fund assessments.
Status: in_force

(1) General. A contributing vegetable contractor shall pay an annual fund assessment for each license year. Except as provided in sub. (5m) , the assessment equals $20 or the sum of the following, whichever is greater, unless the department by rule specifies a different assessment:

(a) The vegetable contractor’s current ratio assessment. The current ratio assessment for a license year equals the vegetable contractor’s current ratio assessment rate under sub. (2) multiplied by the amount reported under s. 126.56 (9) (am) in the vegetable contractor’s license application for that license year.

(b) The vegetable contractor’s debt to equity ratio assessment. The debt to equity ratio assessment for a license year equals the vegetable contractor’s debt to equity ratio assessment rate under sub. (4) multiplied by the amount reported under s. 126.56 (9) (am) in the vegetable contractor’s license application for that license year.

(2) Current ratio assessment rate. A vegetable contractor’s current ratio assessment rate is calculated, at the beginning of the license year, as follows:

(a) If the vegetable contractor has filed an annual financial statement under s. 126.58 and that financial statement shows a current ratio of at least 1.25 to 1.0, the vegetable contractor’s current ratio assessment rate equals the greater of zero or the current ratio assessment factor in sub. (3) (a) multiplied by the following amount:

1. Subtract 4 from the current ratio.

2. Divide the amount determined under subd. 1. by 2.

3. Multiply the amount determined under subd. 2. by negative one.

4. Raise the amount determined under subd. 3. to the 3rd power.

5. Subtract 0.65 from the current ratio.

6. Divide 0.60 by the amount determined under subd. 5.

7. Raise the amount determined under subd. 6. to the 5th power.

8. Add the amount determined under subd. 4. to the amount determined under subd. 7.

9. Add 0.25 to the amount determined under subd. 8.

(b) If the vegetable contractor has filed an annual financial statement under s. 126.58 and that financial statement shows a current ratio of less than 1.25 to 1.0, but greater than 1.1 to 1.0, the vegetable contractor’s current ratio assessment rate equals the current ratio assessment factor in sub. (3) (b) multiplied by the following amount:

1. Subtract 4 from the current ratio.

2. Divide the amount determined under subd. 1. by 2.

3. Multiply the amount determined under subd. 2. by negative one.

4. Raise the amount determined under subd. 3. to the 3rd power.

5. Subtract 0.65 from the current ratio.

6. Divide 0.60 by the amount determined under subd. 5.

7. Raise the amount determined under subd. 6. to the 5th power.

8. Add the amount determined under subd. 4. to the amount determined under subd. 7.

9. Add 0.25 to the amount determined under subd. 8.

(c) If the vegetable contractor has filed an annual financial statement under s. 126.58 and that financial statement shows a current ratio of less than or equal to 1.1 to 1.0, the vegetable contractor’s current ratio assessment rate equals the current ratio assessment factor in sub. (3) (b) multiplied by 7.512617.

(d) If the vegetable contractor has not filed an annual financial statement under s. 126.58 , the vegetable contractor’s current ratio assessment rate equals the current ratio assessment factor in sub. (3) (b) multiplied by 3.84961.

(3) Current ratio assessment factor.

(a) A vegetable contractor’s current ratio assessment factor under sub. (2) (a) is 0.00048, except as follows:

1. For the vegetable contractor’s 4th and 5th consecutive full license years as a contributing vegetable contractor, the vegetable contractor’s current ratio assessment factor is 0.00029.

2. For the vegetable contractor’s 6th or higher consecutive full license year as a contributing vegetable contractor, the vegetable contractor’s current ratio assessment factor is zero.

(b) A vegetable contractor’s current ratio assessment factor under sub. (2) (b) to (d) is 0.00072, except as follows:

1. For the vegetable contractor’s 4th and 5th consecutive full license years as a contributing vegetable contractor, the vegetable contractor’s current ratio assessment factor is 0.00058.

2. For the vegetable contractor’s 6th or higher consecutive full license year as a contributing vegetable contractor, the vegetable contractor’s current ratio assessment factor is 0.00035.

(4) Debt to equity ratio assessment rate. A vegetable contractor’s debt to equity ratio assessment rate for a license year is calculated, at the beginning of the license year, as follows:

(a) If the vegetable contractor has filed an annual financial statement under s. 126.58 and that financial statement shows positive equity and a debt to equity ratio of not more than 4.0 to 1.0, the vegetable contractor’s debt to equity ratio assessment rate equals the greater of zero or the debt to equity ratio assessment factor in sub. (5) (a) multiplied by the following amount:

1. Subtract 4 from the debt to equity ratio.

2. Divide the amount determined under subd. 1. by 4.

3. Raise the amount determined under subd. 2. to the 3rd power.

4. Subtract 1.85 from the debt to equity ratio.

5. Divide the amount determined under subd. 4. by 2.5.

6. Raise the amount determined under subd. 5. to the 7th power.

7. Add the amount determined under subd. 3. to the amount determined under subd. 6.

8. Add one to the amount determined under subd. 7.

(b) If the vegetable contractor has filed an annual financial statement under s. 126.58 and that financial statement shows a debt to equity ratio of greater than 4.0 to 1.0 but less than 6.0 to 1.0, the vegetable contractor’s debt to equity ratio assessment rate equals the debt to equity ratio assessment factor in sub. (5) (b) multiplied by the following amount:

1. Subtract 4 from the debt to equity ratio.

2. Divide the amount determined under subd. 1. by 4.

3. Raise the amount determined under subd. 2. to the 3rd power.

4. Subtract 1.85 from the debt to equity ratio.

5. Divide the amount determined under subd. 4. by 2.5.

6. Raise the amount determined under subd. 5. to the 7th power.

7. Add the amount determined under subd. 3. to the amount determined under subd. 6.

8. Add one to the amount determined under subd. 7.

(c) If the vegetable contractor has filed an annual financial statement under s. 126.58 and that financial statement shows negative equity or a debt to equity ratio of at least 6.0 to 1.0, the vegetable contractor’s debt to equity ratio assessment rate equals the debt to equity ratio assessment factor in sub. (5) (b) multiplied by 35.859145.

(d) If the vegetable contractor has not filed an annual financial statement under s. 126.58 , the vegetable contractor’s debt to equity ratio assessment rate equals the debt to equity ratio assessment factor in sub. (5) (b) multiplied by 1.34793.

(5) Debt to equity ratio assessment factor.

(a) A vegetable contractor’s debt to equity ratio assessment factor under sub. (4) (a) is 0.000135, except as follows:

1. For the vegetable contractor’s 4th and 5th consecutive full license years as a contributing vegetable contractor, the vegetable contractor’s debt to equity ratio assessment factor is 0.00008.

2. For the vegetable contractor’s 6th or higher consecutive full license year as a contributing vegetable contractor, the vegetable contractor’s debt to equity ratio assessment factor is zero.

(b) A vegetable contractor’s debt to equity ratio assessment factor under sub. (4) (b) to (d) is 0.000203, except as follows: