Section ETH 1.56 - Commercial sales by political registrants(1) When a registrant receives donated items for resale the proceeds from the resale transaction shall be reported in the following manner:(a) The receipt of the item shall be reported in the registrant's campaign finance report as an in-kind contribution and as an in-kind expenditure at the fair market value of the donated item;(b) The resale of the item shall be reported in the registrant's campaign finance report as a contribution from the purchaser in the amount paid by the purchaser.(c) The registrant must make a good faith effort to accurately reflect the fair market value of the item in its campaign finance report.(2) When a registrant sells an item which it has purchased for resale to raise funds, the entire amount of the proceeds of the sale shall be reported in the registrant's campaign finance report as a contribution from the purchaser.(3) The proceeds from the sale of food and beverage at a fundraiser by a registrant shall be reported in the registrant's campaign finance report as a contribution from the purchaser.(5) When a registrant disposes of tangible assets of the campaign by sale in a regular commercial transaction for fair market value, the proceeds of the sale shall be reported as "other income" in the registrant's campaign finance reports.Wis. Admin. Code Ethics Commission ETH 1.56
Renumbered from GAB 1.56, Register June 2016 No. 726, eff. 7/1/2016.Amended by, CR 18-047: r. (4) Register August 2019 No. 764, eff. 9/1/2019Amended by, CR 20-010: am. (2) Register June 2021 No. 786, eff. 7/1/2021