AB7-ASA2,2,124 2. "Increase in the number of full-time equivalent employees employed by the
5taxpayer in this state during the taxable year" means the number determined by
6subtracting from the number of full-time equivalent employees employed by the
7taxpayer in this state during the taxable year, as determined by computing the
8average employee count from the taxpayer's quarterly unemployment insurance
9reports for the taxable year, the number of full-time equivalent employees employed
10by the taxpayer in this state during the immediately preceding taxable year, as
11determined by computing the average employee count from the taxpayer's quarterly
12unemployment insurance reports for the immediately preceding taxable year.
AB7-ASA2,2,1713 (b) Filing claims. Subject to the limitations provided in this subsection, for
14taxable years beginning after December 31, 2010, a claimant may claim as a credit
15against the tax imposed under s. 71.02, up to the amount of the tax, an amount equal
16to $250 multiplied by the increase in the number of full-time equivalent employees
17employed by the taxpayer in this state during the taxable year.
AB7-ASA2,2,2218 (c) Limitations. Partnerships, limited liability companies, and tax-option
19corporations may not claim the credit under this subsection. A partnership, limited
20liability company, or tax-option corporation shall compute the rate of credit that each
21of its partners, members, or shareholders may claim and shall provide that
22information to each of them.
AB7-ASA2,3,223 (d) Administration. 1. A claimant shall claim the credit under this subsection
24on a form prepared by the department and shall submit to the department any

1documentation required by the department to administer the credit under this
2subsection.
AB7-ASA2,3,43 2. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies
4to the credit under this subsection.
AB7-ASA2, s. 3 5Section 3. 71.10 (4) (dw) of the statutes is created to read:
AB7-ASA2,3,66 71.10 (4) (dw) Small business credit under s. 71.07 (5p).
AB7-ASA2, s. 4 7Section 4. 71.21 (4) of the statutes is amended to read:
AB7-ASA2,3,118 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
9(2dj), (2dL), (2dm), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s),
10(3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5p), (5r), (5rm), and (8r) and passed
11through to partners shall be added to the partnership's income.
AB7-ASA2, s. 5 12Section 5. 71.26 (2) (a) 4. of the statutes is amended to read:
AB7-ASA2,3,1813 71.26 (2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dd),
14(1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy), (3g), (3h), (3n), (3p), (3q), (3r),
15(3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5p), (5r), (5rm), and (8r) and
16not passed through by a partnership, limited liability company, or tax-option
17corporation that has added that amount to the partnership's, limited liability
18company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).
AB7-ASA2, s. 6 19Section 6. 71.28 (5p) of the statutes is created to read:
AB7-ASA2,3,2020 71.28 (5p) Small business credit. (a) Definitions. In this subsection:
AB7-ASA2,3,2121 1. "Claimant" means a person who files a claim under this subsection.
AB7-ASA2,4,522 2. "Increase in the number of full-time equivalent employees employed by the
23taxpayer in this state during the taxable year" means the number determined by
24subtracting from the number of full-time equivalent employees employed by the
25taxpayer in this state during the taxable year, as determined by computing the

1average employee count from the taxpayer's quarterly unemployment insurance
2reports for the taxable year, the number of full-time equivalent employees employed
3by the taxpayer in this state during the immediately preceding taxable year, as
4determined by computing the average employee count from the taxpayer's quarterly
5unemployment insurance reports for the immediately preceding taxable year.
AB7-ASA2,4,106 (b) Filing claims. Subject to the limitations provided in this subsection, for
7taxable years beginning after December 31, 2010, a claimant may claim as a credit
8against the tax imposed under s. 71.23, up to the amount of the tax, an amount equal
9to $250 multiplied by the increase in the number of full-time equivalent employees
10employed by the taxpayer in this state during the taxable year.
AB7-ASA2,4,1511 (c) Limitations. Partnerships, limited liability companies, and tax-option
12corporations may not claim the credit under this subsection. A partnership, limited
13liability company, or tax-option corporation shall compute the rate of credit that each
14of its partners, members, or shareholders may claim and shall provide that
15information to each of them.
AB7-ASA2,4,1916 (d) Administration. 1. A claimant shall claim the credit under this subsection
17on a form prepared by the department and shall submit to the department any
18documentation required by the department to administer the credit under this
19subsection.
AB7-ASA2,4,2120 2. Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to
21the credit under this subsection.
AB7-ASA2, s. 7 22Section 7. 71.30 (3) (dw) of the statutes is created to read:
AB7-ASA2,4,2323 71.30 (3) (dw) Small business credit under s. 71.28 (5p).
AB7-ASA2, s. 8 24Section 8. 71.34 (1k) (g) of the statutes is amended to read:
AB7-ASA2,5,4
171.34 (1k) (g) An addition shall be made for credits computed by a tax-option
2corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy),
3(3), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j),
4(5k), (5p), (5r), (5rm), and (8r) and passed through to shareholders.
AB7-ASA2, s. 9 5Section 9. 71.45 (2) (a) 10. of the statutes is amended to read:
AB7-ASA2,5,126 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
7computed under s. 71.47 (1dd) to (1dy), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn),
8(3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5p), (5r), (5rm), and (8r) and not passed
9through by a partnership, limited liability company, or tax-option corporation that
10has added that amount to the partnership's, limited liability company's, or
11tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g) and the amount
12of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).
AB7-ASA2, s. 10 13Section 10. 71.47 (5p) of the statutes is created to read:
AB7-ASA2,5,1414 71.47 (5p) Small business credit. (a) Definitions. In this subsection:
AB7-ASA2,5,1515 1. "Claimant" means a person who files a claim under this subsection.
AB7-ASA2,5,2416 2. " Increase in the number of full-time equivalent employees employed by the
17taxpayer in this state during the taxable year" means the number determined by
18subtracting from the number of full-time equivalent employees employed by the
19taxpayer in this state during the taxable year, as determined by computing the
20average employee count from the taxpayer's quarterly unemployment insurance
21reports for the taxable year, the number of full-time equivalent employees employed
22by the taxpayer in this state during the immediately preceding taxable year, as
23determined by computing the average employee count from the taxpayer's quarterly
24unemployment insurance reports for the immediately preceding taxable year.
AB7-ASA2,6,5
1(b) Filing claims. Subject to the limitations provided in this subsection, for
2taxable years beginning after December 31, 2010, a claimant may claim as a credit
3against the tax imposed under s. 71.43, up to the amount of the tax, an amount equal
4to $250 multiplied by the increase in the number of full-time equivalent employees
5employed by the taxpayer in this state during the taxable year.
AB7-ASA2,6,106 (c) Limitations. Partnerships, limited liability companies, and tax-option
7corporations may not claim the credit under this subsection. A partnership, limited
8liability company, or tax-option corporation shall compute the rate of credit that each
9of its partners, members, or shareholders may claim and shall provide that
10information to each of them.
AB7-ASA2,6,1411 (d) Administration. 1. A claimant shall claim the credit under this subsection
12on a form prepared by the department and shall submit to the department any
13documentation required by the department to administer the credit under this
14subsection.
AB7-ASA2,6,1615 2. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies
16to the credit under this subsection.
AB7-ASA2, s. 11 17Section 11. 71.49 (1) (dw) of the statutes is created to read:
AB7-ASA2,6,1818 71.49 (1) (dw) Small business credit under s. 71.47 (5p).
AB7-ASA2, s. 12 19Section 12. 77.92 (4) of the statutes is amended to read:
AB7-ASA2,7,1020 77.92 (4) "Net business income," with respect to a partnership, means taxable
21income as calculated under section 703 of the Internal Revenue Code; plus the items
22of income and gain under section 702 of the Internal Revenue Code, including taxable
23state and municipal bond interest and excluding nontaxable interest income or
24dividend income from federal government obligations; minus the items of loss and
25deduction under section 702 of the Internal Revenue Code, except items that are not

1deductible under s. 71.21; plus guaranteed payments to partners under section 707
2(c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de),
3(2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r),
4(3rm), (3rn), (3s), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5p), (5r), (5rm), and
5(8r); and plus or minus, as appropriate, transitional adjustments, depreciation
6differences, and basis differences under s. 71.05 (13), (15), (16), (17), and (19); but
7excluding income, gain, loss, and deductions from farming. "Net business income,"
8with respect to a natural person, estate, or trust, means profit from a trade or
9business for federal income tax purposes and includes net income derived as an
10employee as defined in section 3121 (d) (3) of the Internal Revenue Code.
AB7-ASA2, s. 13 11Section 13. Nonstatutory provisions.
AB7-ASA2,7,1312 (1) Required general fund balance. Section 20.003 (4) of the statutes does not
13apply to the action of the legislature in enacting this act.
AB7-ASA2,7,1414 (End)
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