126.60 Contributing vegetable contractors; fund assessments.
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126.60 Contributing vegetable contractors; fund assessments.
(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
(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
(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.
(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.
(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.