AB100-ASA1,642,76
71.26
(2) (b) 17. For taxable years that begin after December 31, 2003, and
7before January 1, 2005, for a corporation, conduit, or common law trust which
8qualifies as a regulated investment company, real estate mortgage investment
9conduit, real estate investment trust, or financial asset securitization investment
10trust under the Internal Revenue Code as amended to December 31, 2003, excluding
11sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
1213174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
131605 (d) of P.L.
104-188, P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
14106-573, section 431 of P.L.
107-16, section 101 of P.L.
107-147, sections 106, 201,
15and 202 of P.L.
108-27, section 109 of P.L.
108-121, and section 1201 of P.L.
108-173,
16and as amended by P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306,
17307, 308, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
18244, 336, 337, 909, and 910 of P.L.
108-357, P.L.
108-375, and P.L.
108-476, and as
19indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
20100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
21101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
22102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
2313174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
24104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
25(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
1105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
2106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16,
3excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
4107-147, excluding section 101 of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
5107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
6108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-173, excluding
7section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding
8sections 306, 307, 308, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding
9sections 101, 201, 244, 336, 337, 909, and 910 of P.L.
108-357, P.L.
108-375, and P.L.
10108-476, "net income" means the federal regulated investment company taxable
11income, federal real estate mortgage investment conduit taxable income, federal real
12estate investment trust or financial asset securitization investment trust taxable
13income of the corporation, conduit, or trust as determined under the Internal
14Revenue Code as amended to December 31, 2003, excluding sections 103, 104, and
15110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
16103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
17106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
18107-16, section 101 of P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section
19109 of P.L.
108-121, and section 1201 of P.L.
108-173, and as amended by P.L.
20108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308, 401, and 403
21(a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 244, 336, 337, 909, and
22910 of P.L.
108-357, P.L.
108-375, and P.L.
108-476, and as indirectly affected in the
23provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647,
24P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
25excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
1103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
2103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188,
3excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
4104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
5105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections
6162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
7107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding section 101
8of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
9excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
10109 of P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
11108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308, 401, and 403
12(a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 244, 336, 337, 909, and
13910 of P.L.
108-357, P.L.
108-375, and P.L.
108-476, except that property that, under
14s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years
151983 to 1986 under the Internal Revenue Code as amended to December 31, 1980,
16shall continue to be depreciated under the Internal Revenue Code as amended to
17December 31, 1980, and except that the appropriate amount shall be added or
18subtracted to reflect differences between the depreciation or adjusted basis for
19federal income tax purposes and the depreciation or adjusted basis under this
20chapter of any property disposed of during the taxable year. The Internal Revenue
21Code as amended to December 31, 2003, excluding sections 103, 104, and 110 of P.L.
22102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
23sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
106-519,
24sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, section
25101 of P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 109 of P.L.
1108-121, and section 1201 of P.L.
108-173, and as amended by P.L.
108-203, P.L.
2108-218, P.L.
108-311, excluding sections 306, 307, 308, 401, and 403 (a) of P.L.
3108-311, P.L.
108-357, excluding sections 101, 201, 244, 336, 337, 909, and 910 of
4P.L.
108-357, P.L.
108-375, and P.L.
108-476, and as indirectly affected in the
5provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647,
6P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
7excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
8103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
9103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188,
10excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
11104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
12105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections
13162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
14107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding section 101
15of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
16excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
17109 of P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
18108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308, 401, and 403
19(a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 244, 336, 337, 909, and
20910 of P.L.
108-357, P.L.
108-375, and P.L.
108-476, applies for Wisconsin purposes
21at the same time as for federal purposes. Amendments to the Internal Revenue Code
22enacted after December 31, 2003, do not apply to this subdivision with respect to
23taxable years that begin after December 31, 2003, and before January 1, 2005,
24except that changes to the Internal Revenue Code made by P.L.
108-203, P.L.
25108-218, P.L.
108-311, excluding sections 306, 307, 308, 401, and 403 (a) of P.L.
1108-311, P.L.
108-357, excluding sections 101, 201, 244, 336, 337, 909, and 910 of
2P.L.
108-357, P.L.
108-375, and P.L.
108-476, and changes that indirectly affect the
3provisions applicable to this subchapter made by P.L.
108-203, P.L.
108-218, P.L.
4108-311, excluding sections 306, 307, 308, 401, and 403 (a) of P.L.
108-311, P.L.
5108-357, excluding sections 101, 201, 244, 336, 337, 909, and 910 of P.L.
108-357,
6P.L.
108-375, and P.L.
108-476, apply for Wisconsin purposes at the same time as
7for federal purposes.
AB100-ASA1,645,199
71.26
(2) (b) 18. For taxable years that begin after December 31, 2004, for a
10corporation, conduit, or common law trust which qualifies as a regulated investment
11company, real estate mortgage investment conduit, real estate investment trust, or
12financial asset securitization investment trust under the Internal Revenue Code as
13amended to December 31, 2004, excluding sections 103, 104, and 110 of P.L.
102-227,
14sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, sections
151123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3, 4, and
165 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of
17P.L.
107-16, section 101 of P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27,
18section 1201 of P.L.
108-173, sections 306, 308, 401, and 403 (a) of P.L.
108-311, and
19sections 101, 201, 244, 336, 337, 909, and 910 of P.L.
108-357, and as indirectly
20affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
21P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508,
22P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
23102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
2413203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
25104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
1104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
2105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
3excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding
4section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147,
5excluding section 101 of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
6107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
7108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
8108-218, P.L.
108-311, excluding sections 306, 308, 401, and 403 (a) of P.L.
108-311,
9P.L.
108-357, excluding sections 101, 201, 244, 336, 337, 909, and 910 of P.L.
10108-357, P.L.
108-375, and P.L.
108-476, "net income" means the federal regulated
11investment company taxable income, federal real estate mortgage investment
12conduit taxable income, federal real estate investment trust or financial asset
13securitization investment trust taxable income of the corporation, conduit, or trust
14as determined under the Internal Revenue Code as amended to December 31, 2004,
15excluding sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171
16(d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
171605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
18of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, section 101 of P.L.
107-147,
19sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306,
20308, 401, and 403 (a) of P.L.
108-311, and sections 101, 201, 244, 336, 337, 909, and
21910 of P.L.
108-357, and as indirectly affected in the provisions applicable to this
22subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140,
23P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104,
24and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
2513113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
1103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
2(c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
3105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
4106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
5P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
6107-116, P.L.
107-134, P.L.
107-147, excluding section 101 of P.L.
107-147, P.L.
7107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections
8106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201
9of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306,
10308, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 244,
11336, 337, 909, and 910 of P.L.
108-357, P.L.
108-375, and P.L.
108-476, except that
12property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated
13for taxable years 1983 to 1986 under the Internal Revenue Code as amended to
14December 31, 1980, shall continue to be depreciated under the Internal Revenue
15Code as amended to December 31, 1980, and except that the appropriate amount
16shall be added or subtracted to reflect differences between the depreciation or
17adjusted basis for federal income tax purposes and the depreciation or adjusted basis
18under this chapter of any property disposed of during the taxable year. The Internal
19Revenue Code as amended to December 31, 2004, excluding sections 103, 104, and
20110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
21103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188,
22sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
23106-573, section 431 of P.L.
107-16, section 101 of P.L.
107-147, sections 106, 201,
24and 202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 401, and 403
25(a) of P.L.
108-311, and sections 101, 201, 244, 336, 337, 909, and 910 of P.L.
108-357,
1and as indirectly affected in the provisions applicable to this subchapter by P.L.
299-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
3101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
4102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
5(d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
6103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
71311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
8105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
9106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15,
10P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
11107-134, P.L.
107-147, excluding section 101 of P.L.
107-147, P.L.
107-181, P.L.
12107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and
13202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
14108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 308, 401,
15and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 244, 336, 337,
16909, and 910 of P.L.
108-357, P.L.
108-375, and P.L.
108-476, applies for Wisconsin
17purposes at the same time as for federal purposes. Amendments to the Internal
18Revenue Code enacted after December 31, 2004, do not apply to this subdivision with
19respect to taxable years that begin after December 31, 2004.
AB100-ASA1,645,21
21*-0402/7.6*
Section
1366. 71.28 (1dL) (c) 1. of the statutes is repealed.
AB100-ASA1,645,23
22*-0402/8*
Section
1367. 71.28 (1dL) (c) 2. of the statutes is renumbered 71.28
23(1dL) (c).
AB100-ASA1,645,24
24*-0402/8*
Section
1368. 71.28 (1dL) (d) of the statutes is amended to read:
AB100-ASA1,646,3
171.28
(1dL) (d) Except as provided in par. (c)
2., the carry-over provisions of
2sub. (4) (e) and (f) as they relate to the credit under that subsection relate to the credit
3under this subsection and apply as if the development zone continued to exist.
AB100-ASA1,646,125
71.28
(1dm) (hm)
Credits claimed
A claimant may claim the credit under this
6subsection, including any credits carried over,
may be offset only against the amount
7of the tax otherwise due under this subchapter
attributable to income from the
8business operations of the claimant in the development zone; except that a claimant
9in a development zone under s. 560.795 (1) (e) may offset credits, including any
10credits carried over, against the amount of the tax otherwise due under this
11subchapter attributable to all of the claimant's income; and against the tax
12attributable to income from directly related business operations of the claimant.
AB100-ASA1,647,214
71.28
(1dx) (a) 5. "Member of a targeted group" means a person who resides
15in an
empowerment zone, or an enterprise community, that the U.S. government
16designates area designated by the federal government as an economic revitalization
17area, a person who is employed in an unsubsidized job but meets the eligibility
18requirements under s. 49.145 (2) and (3) for a Wisconsin
works Works employment
19position, a person who is employed in a trial job, as defined in s. 49.141 (1) (n), a
20person who is eligible for child care assistance under s. 49.155, a person who is a
21vocational rehabilitation referral, an economically disadvantaged youth, an
22economically disadvantaged veteran, a supplemental security income recipient, a
23general assistance recipient, an economically disadvantaged ex-convict, a qualified
24summer youth employee, as defined in
26 USC 51 (d) (7), a dislocated worker, as
25defined in
29 USC 2801 (9), or a food stamp recipient
;
, if the person has been certified
1in the manner under sub. (1dj) (am) 3. by a designated local agency, as defined in sub.
2(1dj) (am) 2.
AB100-ASA1, s. 1371
3Section
1371. 71.28 (1dx) (b) (intro.) of the statutes is amended to read:
AB100-ASA1,647,94
71.28
(1dx) (b)
Credit. (intro.) Except as provided in pars. (be) and (bg) and
5in s. 73.03 (35), and subject to s. 560.785, for any taxable year for which the person
6is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3),
7560.797 (4) or 560.798 (3), any person may claim as a credit against
the taxes
imposed
8on the person's income from the person's business activities in a development zone 9otherwise due under this chapter the following amounts:
AB100-ASA1,647,1411
71.28
(2m) (a) 1. b. For partnerships, except publicly traded partnerships
12treated as corporations under s. 71.22
(1) (1k), or limited liability companies, except
13limited liability companies treated as corporations under s. 71.22
(1) (1k), "claimant"
14means each individual partner or member.
AB100-ASA1,647,1616
71.28
(3n) (title)
Dairy and livestock farm investment credit.
AB100-ASA1, s. 1381b
17Section 1381b. 71.28 (3n) (a) 2. (intro.) of the statutes is amended to read:
AB100-ASA1,647,2318
71.28
(3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the
19construction, the improvement, or the acquisition of buildings or facilities, or
20acquiring equipment, for dairy animal housing, confinement, animal feeding, milk
21production, or waste management, including the following, if used exclusively
22related to dairy animals
and if acquired and placed in service in this state during
23taxable years that begin after December 31, 2003, and before January 1, 2010:
AB100-ASA1,648,3
171.28
(3n) (a) 4. "Livestock" means cattle, not including dairy animals; swine;
2poultry, not including farm-raised game birds or ratites; fish that are raised in
3aquaculture facilities; sheep; and goats.
AB100-ASA1,648,105
71.28
(3n) (a) 5. "Livestock farm modernization or expansion" means the
6construction, the improvement, or the acquisition of buildings or facilities, or the
7acquisition of equipment, for livestock housing, confinement, feeding, or waste
8management, including the following, if used exclusively related to livestock and if
9acquired and placed in service in this state during taxable years that begin after
10December 31, 2005, and before January 1, 2012:
AB100-ASA1,648,1111
a. Birthing structures.
AB100-ASA1,648,1212
b. Rearing structures.
AB100-ASA1,648,1313
c. Feedlot structures.
AB100-ASA1,648,1414
d. Feed storage and handling equipment.
AB100-ASA1,648,1616
f. Watering facilities.
AB100-ASA1,648,1818
h. Manure pumping and storage facilities.
AB100-ASA1,648,2020
j. Equipment used to produce energy.
AB100-ASA1,648,2121
k. Fish hatchery buildings.
AB100-ASA1,648,2222
L. Fish processing buildings.
AB100-ASA1,648,2323
m. Fish rearing ponds.
AB100-ASA1,649,3
171.28
(3n) (a) 6. a. For taxable years that begin after December 31, 2003, and
2before January 1, 2006, "used exclusively," related to dairy animals, means used to
3the exclusion of all other uses except for use not exceeding 5 percent of total use.
AB100-ASA1,649,64
b. For taxable years that begin after December 31, 2005, and before January
51, 2010, "used exclusively," related to livestock, dairy animals, or both, means used
6to the exclusion of all other uses except for use not exceeding 5 percent of total use.
AB100-ASA1,649,97
c. For taxable years that begin after December 31, 2009, and before January
81, 2012, "used exclusively," related to livestock, means used to the exclusion of all
9other uses except for use not exceeding 5 percent of total use.
AB100-ASA1, s. 1382b
10Section 1382b. 71.28 (3n) (b) of the statutes is renumbered 71.28 (3n) (b) 1.
AB100-ASA1,649,1712
71.28
(3n) (b) 2. Subject to the limitations provided in this subsection, for
13taxable years that begin after December 31, 2005, and before January 1, 2012, a
14claimant may claim as a credit against the tax imposed under s. 71.23 an amount
15equal to 10 percent of the amount the claimant paid in the taxable year for livestock
16farm modernization or expansion related to the operation of the claimant's livestock
17farm.
AB100-ASA1, s. 1382d
18Section 1382d. 71.28 (3n) (e) of the statutes is renumbered 71.28 (3n) (e) 1.
19and amended to read:
AB100-ASA1,650,320
71.28
(3n) (e) 1. Partnerships, limited liability companies, and tax-option
21corporations may not claim the credit under this subsection, but the eligibility for,
22and the amount of, the credit are based on their payment of expenses under par. (b)
,
23except that the aggregate amount of credits that the entity may compute shall not
24exceed $50,000. A partnership, limited liability company, or tax-option corporation
25shall compute the amount of credit that each of its partners, members, or
1shareholders may claim and shall provide that information to each of them.
2Partners, members of limited liability companies, and shareholders of tax-option
3corporations may claim the credit in proportion to their ownership interest.
AB100-ASA1,650,85
71.28
(3n) (e) 2. If 2 or more persons own and operate the dairy or livestock
6farm, each person may claim a credit under par. (b) in proportion to his or her
7ownership interest, except that the aggregate amount of the credits claimed by all
8persons who own and operate the farm shall not exceed $50,000.
AB100-ASA1,650,2310
71.28
(4) (a)
Credit. Any corporation may credit against taxes otherwise due
11under this chapter an amount equal to 5% of the amount obtained by subtracting
12from the corporation's qualified research expenses, as defined in section
41 of the
13internal revenue code, except that "qualified research expenses" includes only
14expenses incurred by the claimant, incurred for research conducted in this state for
15the taxable year, except that a taxpayer may elect the alternative computation under
16section
41 (c) (4) of the Internal Revenue Code and that election applies until the
17department permits its revocation and except that "qualified research expenses"
18does not include compensation used in computing the credit under subs. (1dj) and
19(1dx), the corporation's base amount, as defined in section
41 (c) of the internal
20revenue code, except that gross receipts used in calculating the base amount means
21gross receipts from sales attributable to Wisconsin under s. 71.25 (9) (b) 1. and 2.
and, 22(d)
, (df), and (dh). Section
41 (h) of the internal revenue code does not apply to the
23credit under this paragraph.
AB100-ASA1,651,23
171.28
(4) (am) 1. In addition to the credit under par. (a), any corporation may
2credit against taxes otherwise due under this chapter an amount equal to 5% of the
3amount obtained by subtracting from the corporation's qualified research expenses,
4as defined in section
41 of the internal revenue code, except that "qualified research
5expenses" include only expenses incurred by the claimant in a development zone
6under subch. VI of ch. 560, except that a taxpayer may elect the alternative
7computation under section
41 (c) (4) of the Internal Revenue Code and that election
8applies until the department permits its revocation and except that "qualified
9research expenses" do not include compensation used in computing the credit under
10sub. (1dj) nor research expenses incurred before the claimant is certified for tax
11benefits under s. 560.765 (3), the corporation's base amount, as defined in section
41 12(c) of the internal revenue code, in a development zone, except that gross receipts
13used in calculating the base amount means gross receipts from sales attributable to
14Wisconsin under s. 71.25 (9) (b) 1. and 2.
and, (d)
, (df), and (dh) and research expenses
15used in calculating the base amount include research expenses incurred before the
16claimant is certified for tax benefits under s. 560.765 (3), in a development zone, if
17the claimant submits with the claimant's return a copy of the claimant's certification
18for tax benefits under s. 560.765 (3) and a statement from the department of
19commerce verifying the claimant's qualified research expenses for research
20conducted exclusively in a development zone. The rules under s. 73.03 (35) apply to
21the credit under this subdivision. The rules under sub. (1di) (f) and (g) as they apply
22to the credit under that subsection apply to claims under this subdivision. Section
2341 (h) of the internal revenue code does not apply to the credit under this subdivision.
AB100-ASA1,652,6
171.28
(4) (i)
Nonclaimants. The credits under this subsection may not be
2claimed by a partnership, except a publicly traded partnership treated as a
3corporation under s. 71.22
(1) (1k), limited liability company, except a limited
4liability company treated as a corporation under s. 71.22
(1) (1k), or tax-option
5corporation or by partners, including partners of a publicly traded partnership,
6members of a limited liability company or shareholders of a tax-option corporation.
AB100-ASA1,652,108
71.28
(5g) Health insurance risk-sharing plan assessments credit. (a)
9Definitions. In this subsection, "claimant" means an insurer, as defined in s. 149.10
10(5), who files a claim under this subsection.
AB100-ASA1,652,1511
(b)
Filing claims. Subject to the limitations provided under this subsection, for
12taxable years beginning after December 31, 2005, a claimant may claim as a credit
13against the taxes imposed under s. 71.23 an amount that is equal to a percentage of
14the amount of assessment under s. 149.13 that the claimant paid in the taxable year,
15as determined under par. (c) 1.
AB100-ASA1,652,2016
(c)
Limitations. 1. The department of revenue, in consultation with the office
17of the commissioner of insurance, shall determine the percentage under par. (b) for
18each claimant for each taxable year so that the cost of the credit under this subsection
19and ss. 71.07 (5g), 71.47 (5g), and 76.655 is as close as practicable to $2,000,000 in
20the 2006-07 fiscal year and $5,000,000 in each fiscal year thereafter.
AB100-ASA1,653,321
2. Partnerships, limited liability companies, and tax-option corporations may
22not claim the credit under this subsection, but the eligibility for, and the amount of,
23the credit are based on their payment of amounts described under par. (b). A
24partnership, limited liability company, or tax-option corporation shall compute the
25amount of credit that each of its partners, members, or shareholders may claim and
1shall provide that information to each of them. Partners, members of limited liability
2companies, and shareholders of tax-option corporations may claim the credit in
3proportion to their ownership interests.
AB100-ASA1,653,54
(d)
Administration. Subsection (4) (e) to (h), as it applies to the credit under
5sub. (4), applies to the credit under this subsection.
AB100-ASA1,653,87
71.30
(3) (dm) Health insurance risk-sharing plan assessments credit under
8s. 71.28 (5g).
AB100-ASA1,653,1110
71.30
(11) Veterans trust fund. (a)
Definitions. In this subsection, "veterans
11trust fund" means the fund under s. 25.36.
AB100-ASA1,653,1512
(b)
Voluntary payments. 1. `Designation on return.' A corporation filing an
13income or franchise tax return may designate on the return any amount of additional
14payment or any amount of a refund that is due the corporation as a donation to the
15veterans trust fund to be used for veterans programs under s. 25.36 (1).
AB100-ASA1,653,1816
2. `Designation added to tax owed.' If the corporation owes any tax, the
17corporation shall remit in full the tax due and the amount designated on the return
18as a donation to the veterans trust fund when the corporation files a tax return.
AB100-ASA1,653,2219
3. `Designation deducted from refund.' Except as provided under par. (d), and
20subject to ss. 71.75 (9) and 71.80 (3), if the corporation is owed a refund, the
21department shall deduct the amount designated on the return as a donation to the
22veterans trust fund from the amount of the refund.
AB100-ASA1,654,323
(c)
Errors; failure to remit correct amount. 1. `Reduced designation.' If a
24corporation remits an amount that exceeds the tax due, after error corrections, but
25that is less than the total of the tax due, after error corrections, and the amount
1designated by the corporation on the return as a donation to the veterans trust fund,
2the department shall reduce the designation to reflect the amount remitted that
3exceeds the tax due, after error corrections.
AB100-ASA1,654,64
2. `Void designation.' The designation for a donation to the veterans trust fund
5is void if the corporation remits an amount equal to or less than the tax due, after
6error corrections.
AB100-ASA1,654,117
(d)
Errors; insufficient refund. If a corporation is owed a refund that is less than
8the amount designated on the return as a donation to the veterans trust fund, after
9attachment and crediting under ss. 71.75 (9) and 71.80 (3) and after error corrections,
10the department shall reduce the designation to reflect the actual amount of the
11refund the corporation is otherwise owed.
AB100-ASA1,654,1312
(e)
Conditions. If a corporation places any conditions on a designation for a
13donation to the veterans trust fund, the designation is void.
AB100-ASA1,654,1614
(f)
Void designation. If a designation for a donation to the veterans trust fund
15is void, the department shall disregard the designation and determine the amounts
16due, owed, refunded, and received.
AB100-ASA1,654,2017
(g)
Tax return. The secretary of revenue shall provide a place for the
18designations under this subsection on the corporate income and franchise tax
19returns and the secretary shall highlight that place on the returns by a symbol
20chosen by the department of veterans affairs that relates to veterans.
AB100-ASA1,654,2321
(h)
Certification of amounts. Annually, on or before September 15, the
22secretary of revenue shall certify to the department of veterans affairs and the
23department of administration:
AB100-ASA1,655,3
11. The total amount of the administrative costs, including data processing
2costs, incurred by the department of revenue in administering this subsection during
3the previous fiscal year.
AB100-ASA1,655,54
2. The total amount received from all designations to the veterans trust fund
5under this subsection made by corporations during the previous fiscal year.
AB100-ASA1,655,76
3. The net amount remaining after the administrative costs under subd. 1. are
7subtracted from the total received under subd. 2.
AB100-ASA1,655,138
(i)
Appropriations. From the moneys received from designations to the
9veterans trust fund under this subsection, an amount equal to the sum of
10administrative expenses certified under par. (h) 1. shall be deposited into the general
11fund and credited to the appropriation under s. 20.566 (1) (hp), and the net amount
12remaining certified under par. (h) 3. shall be deposited into the veterans trust fund
13and used for the veterans programs under s. 25.36 (1).
AB100-ASA1,655,2114
(j)
Refunds. An amount designated as a donation to the veterans trust fund
15under this subsection is not subject to refund to a corporation that designates the
16donation unless the corporation submits information to the satisfaction of the
17department within 18 months from the date that taxes are due from the corporation
18or from the date that the corporation filed the return, whichever is later, that the
19amount designated is clearly in error. A refund granted by the department under
20this paragraph shall be deducted from the moneys received under this subsection in
21the fiscal year that the refund is certified under 71.75 (7).
AB100-ASA1,655,2523
71.34
(1) (g) An addition shall be made for credits computed by a tax-option
24corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (3), (3g),
25(3n), (3t),
and (5b)
, and (5g) and passed through to shareholders.
AB100-ASA1,657,254
71.34
(1g) (L) "Internal Revenue Code" for tax-option corporations, for taxable
5years that begin after December 31, 1996, and before January 1, 1998, means the
6federal Internal Revenue Code as amended to December 31, 1996, excluding
7sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
813174, and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and
91605 (d) of P.L.
104-188, and as amended by P.L.
105-33, P.L.
105-34, P.L.
105-206,
10P.L.
105-277, P.L.
106-36, P.L.
106-554, excluding sections 162 and 165 of P.L.
11106-554, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-134, P.L.
12107-147, excluding sections 101 and 406 of P.L.
107-147,
and P.L.
107-181,
P.L.
13108-121, excluding section 109 of P.L. 108-121, P.L. 108-311, excluding sections 306,
14307, 308, 401, and 403 (a) of P.L. 108-311, and P.L. 108-357, excluding sections 101,
15201, 244, 336, 337, 909, and 910 of P.L. 108-357, and as indirectly affected in the
16provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647 17excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2)
18of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
19101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104, and
20110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
2113113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
22103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
23(c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
24105-33, P.L.
105-34, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-554,
25excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding section 431
1of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections 101 and 406 of P.L.
2107-147,
and P.L.
107-181,
P.L. 108-121, excluding section 109 of P.L. 108-121, P.L.
3108-311, excluding sections 306, 307, 308, 401, and 403 (a) of P.L. 108-311, and P.L.
4108-357, excluding sections 101, 201, 244, 336, 337, 909, and 910 of P.L. 108-357, 5except that section 1366 (f) (relating to pass-through of items to shareholders) is
6modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and
71375. The Internal Revenue Code applies for Wisconsin purposes at the same time
8as for federal purposes. Amendments to the federal Internal Revenue Code enacted
9after December 31, 1996, do not apply to this paragraph with respect to taxable years
10beginning after December 31, 1996, and before January 1, 1998, except that
11changes to the Internal Revenue Code made by P.L.
105-33, P.L.
105-34, P.L.
12105-206, P.L.
105-277, P.L.
106-36, P.L.
106-554, excluding sections 162 and 165 of
13P.L.
106-554, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-134, P.L.
14107-147, excluding sections 101 and 406 of P.L.
107-147,
and P.L.
107-181,
P.L.
15108-121, excluding section 109 of P.L. 108-121, P.L. 108-311, excluding sections 306,
16307, 308, 401, and 403 (a) of P.L. 108-311, and P.L. 108-357, excluding sections 101,
17201, 244, 336, 337, 909, and 910 of P.L. 108-357, and changes that indirectly affect
18the provisions applicable to this subchapter made by P.L.
105-33, P.L.
105-34, P.L.
19105-206, P.L.
105-277, P.L.
106-36, P.L.
106-554, excluding sections 162 and 165 of
20P.L.
106-554, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-134, P.L.
21107-147, excluding sections 101 and 406 of P.L.
107-147,
and P.L.
107-181,
P.L.
22108-121, excluding section 109 of P.L. 108-121, P.L. 108-311, excluding sections 306,
23307, 308, 401, and 403 (a) of P.L. 108-311, and P.L. 108-357, excluding sections 101,
24201, 244, 336, 337, 909, and 910 of P.L. 108-357, apply for Wisconsin purposes at the
25same time as for federal purposes.
AB100-ASA1,659,232
71.34
(1g) (m) "Internal Revenue Code" for tax-option corporations, for taxable
3years that begin after December 31, 1997, and before January 1, 1999, means the
4federal Internal Revenue Code as amended to December 31, 1997, excluding sections
5103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and
613203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d)
7of P.L.
104-188, and as amended by P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
8106-36, P.L.
106-170, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
9P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-134, P.L.
107-147,
10excluding sections 101 and 406 of P.L.
107-147, P.L.
and 107-181,
P.L. 108-121,
11excluding section 109 of P.L. 108-121, P.L. 108-311, excluding sections 306, 307, 308,
12401, and 403 (a) of P.L. 108-311, and P.L. 108-357, excluding sections 101, 201, 244,
13336, 337, 909, and 910 of P.L. 108-357, and as indirectly affected in the provisions
14applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647 excluding
15sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L.
99-514 16and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
17101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
18102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
19(d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
20103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
211311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
22105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
23106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding
24section 431 of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections 101 and
25406 of P.L.
107-147,
and P.L.
107-181,
P.L. 108-121, excluding section 109 of P.L.
1108-121, P.L. 108-311, excluding sections 306, 307, 308, 401, and 403 (a) of P.L.
2108-311, and P.L. 108-357, excluding sections 101, 201, 244, 336, 337, 909, and 910
3of P.L. 108-357, except that section 1366 (f) (relating to pass-through of items to
4shareholders) is modified by substituting the tax under s. 71.35 for the taxes under
5sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes
6at the same time as for federal purposes. Amendments to the federal Internal
7Revenue Code enacted after December 31, 1997, do not apply to this paragraph with
8respect to taxable years beginning after December 31, 1997, and before
9January 1, 1999, except that changes to the Internal Revenue Code made by P.L.
10105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-554,
11excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding section 431
12of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections 101 and 406 of P.L.
13107-147,
and P.L.
107-181,
P.L. 108-121, excluding section 109 of P.L. 108-121, P.L.
14108-311, excluding sections 306, 307, 308, 401, and 403 (a) of P.L. 108-311, and P.L.
15108-357, excluding sections 101, 201, 244, 336, 337, 909, and 910 of P.L. 108-357, 16and changes that indirectly affect the provisions applicable to this subchapter made
17by P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-554,
18excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding section 431
19of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections 101 and 406 of P.L.
20107-147,
and P.L.
107-181,
P.L. 108-121, excluding section 109 of P.L. 108-121, P.L.
21108-311, excluding sections 306, 307, 308, 401, and 403 (a) of P.L. 108-311, and P.L.
22108-357, excluding sections 101, 201, 244, 336, 337, 909, and 910 of P.L. 108-357, 23apply for Wisconsin purposes at the same time as for federal purposes.
