LRB-4635/1
JK&ISR:cjs:km
1999 - 2000 LEGISLATURE
March 8, 2000 - Introduced by Representative Gard, cosponsored by Senator
Burke, by request of Department of Revenue. Referred to Joint survey
committee on Tax Exemptions.
AB860,2,2
1An Act to repeal 71.01 (6) (f), 71.22 (4) (f), 71.22 (4m) (d), 71.26 (2) (b) 6., 71.34
2(1g) (f) and 71.42 (2) (e);
to amend 71.01 (6) (L), 71.01 (6) (m), 71.01 (6) (n), 71.01
3(7r), 71.22 (4) (L), 71.22 (4) (m), 71.22 (4) (n), 71.22 (4m) (j), 71.22 (4m) (k), 71.22
4(4m) (L), 71.26 (2) (b) 12., 71.26 (2) (b) 13., 71.26 (2) (b) 14., 71.26 (3) (y), 71.34
5(1g) (L), 71.34 (1g) (m), 71.34 (1g) (n), 71.365 (1m), 71.42 (2) (k), 71.42 (2) (L),
671.42 (2) (m), 71.45 (2) (a) 13. and 565.30 (5); and
to create 71.01 (6) (o), 71.22
7(4) (o), 71.22 (4m) (m), 71.26 (2) (b) 15., 71.34 (1g) (o), 71.42 (2) (n), 71.67 (5m),
8565.01 (2m) and 565.30 (6r) (c) 10. of the statutes;
relating to: references to the
9Internal Revenue Code for income tax and franchise tax purposes, withholding
10income taxes from the amount paid to purchase the assignment of a lottery
1prize and requiring the lottery administrator to report to the department of
2revenue the federal income tax number of an assignee.
Analysis by the Legislative Reference Bureau
Taxation
This bill adopts, for income tax and franchise tax purposes, the changes to the
federal Internal Revenue Code made by Public Laws 106-36 and 106-170. The
changes are adopted for all taxable years for which the changes apply for federal
income tax purposes.
Gambling
Under current law, a lottery prizewinner may make a voluntary assignment of
all or part of that lottery prize to a person. This person is called the assignee. An
assignment is only valid if a court issues an order confirming that certain
requirements have been met, including that the assignee has specified in an affidavit
that the assignee will pay taxes on the assigned prize. Under current law, an
assignee who buys the rights to a lottery prize is not required to withhold income
taxes from the amount the assignee pays to the lottery prizewinner to purchase the
rights to the prize.
Under this bill, an assignee is required to withhold income taxes from the
amount the assignee pays to the lottery prizewinner to purchase the rights to the
prize. In addition, this bill requires that before an assignment can be valid the court
order must confirm that the assignee has specified in an affidavit that the assignee
will withhold income taxes from the amount the assignee pays to the lottery
prizewinner.
Also under current law, the department of revenue (DOR) is required to
withhold from the payment of a lottery prize to an assignee any delinquent state
taxes, court-ordered child support, spousal support, maintenance or family support,
court-ordered fines or other debt owed to the state. The lottery administrator is
required to report the name, address and social security number of all assignees to
DOR so that DOR may, in consultation with the department of workforce
development, determine the necessary withholdings, if any. This bill requires the
lottery administrator to report the federal income tax number of an assignee, if any,
to DOR.
This bill will be referred to the joint survey committee on tax exemptions for a
detailed analysis, which will be printed as an appendix to this bill.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB860,4,35
71.01
(6) (L) For taxable years that begin after December 31, 1996, and before
6January 1, 1998, for natural persons and fiduciaries, except fiduciaries of nuclear
7decommissioning trust or reserve funds, "Internal Revenue Code" means the federal
8Internal Revenue Code as amended to December 31, 1996, excluding sections 103,
9104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203
10(d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
11104-188, and as amended by P.L.
105-33, P.L.
105-34, P.L.
105-206
and, P.L.
12105-277 and P.L. 106-36, and as indirectly affected by P.L.
99-514, P.L.
100-203,
13P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-280,
14P.L.
101-508, P.L.
102-90, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
15102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
16(d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
17103-465, P.L.
104-7, P.L.
104-117, P.L.
104-188, excluding sections 1123 (b), 1202
18(c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
19105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and P.L. 106-36. The Internal
20Revenue Code applies for Wisconsin purposes at the same time as for federal
21purposes. Amendments to the federal Internal Revenue Code enacted after
22December 31, 1996, do not apply to this paragraph with respect to taxable years
23beginning after December 31, 1996, and before January 1, 1998, except that
24changes to the Internal Revenue Code made by P.L.
105-33, P.L.
105-34, P.L.
25105-206 and, P.L.
105-277 and P.L. 106-36 and changes that indirectly affect the
1provisions applicable to this subchapter made by P.L.
105-33, P.L.
105-34, P.L.
2105-206 and, P.L.
105-277 and P.L. 106-36 apply for Wisconsin purposes at the same
3time as for federal purposes.
AB860,5,46
71.01
(6) (m) For taxable years that begin after December 31, 1997, and before
7January 1, 1999, for natural persons and fiduciaries, except fiduciaries of nuclear
8decommissioning trust or reserve funds, "Internal Revenue Code" means the federal
9Internal Revenue Code as amended to December 31, 1997, excluding sections 103,
10104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203
11(d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
12104-188, and as amended by P.L.
105-178, P.L.
105-206 and
, P.L.
105-277, P.L.
13106-36 and P.L. 106-170, and as indirectly affected by P.L.
99-514, P.L.
100-203,
14P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-280,
15P.L.
101-508, P.L.
102-90, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
16102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
17(d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
18103-465, P.L.
104-7, P.L.
104-117, P.L.
104-188, excluding sections 1123 (b), 1202
19(c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
20105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and
21P.L. 106-170. The Internal Revenue Code applies for Wisconsin purposes at the
22same time as for federal purposes. Amendments to the federal Internal Revenue
23Code enacted after December 31, 1997, do not apply to this paragraph with respect
24to taxable years beginning after December 31, 1997, and before January 1, 1999,
25except that changes to the Internal Revenue Code made by P.L.
105-178, P.L.
1105-206 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170 and changes that
2indirectly affect the provisions applicable to this subchapter made by P.L.
105-178,
3P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170 apply for Wisconsin
4purposes at the same time as for federal purposes.
AB860,6,37
71.01
(6) (n) For taxable years that begin after December 31, 1998,
and before
8January 1, 2000, for natural persons and fiduciaries, except fiduciaries of nuclear
9decommissioning trust or reserve funds, "Internal Revenue Code" means the federal
10Internal Revenue Code as amended to December 31, 1998, excluding sections 103,
11104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203
12(d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
13104-188,
and as amended by P.L. 106-36 and P.L. 106-170, and as indirectly affected
14by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
15P.L.
101-239, P.L.
101-280, P.L.
101-508, P.L.
102-90, P.L.
102-227, excluding
16sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66,
17excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66,
18P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-117, P.L.
104-188,
19excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
20104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and, 21P.L.
105-277, P.L. 106-36 and P.L. 106-170. The Internal Revenue Code applies for
22Wisconsin purposes at the same time as for federal purposes. Amendments to the
23federal Internal Revenue Code enacted after December 31, 1998, do not apply to this
24paragraph with respect to taxable years beginning after December 31, 1998
, and
25before January 1, 2000, except that changes to the Internal Revenue Code made by
1P.L. 106-36 and P.L. 106-170 and changes that indirectly affect the provisions
2applicable to this subchapter made by P.L. 106-36 and P.L. 106-170 apply for
3Wisconsin purposes at the same time as for federal purposes.
AB860, s. 5
4Section
5. 71.01 (6) (o) of the statutes is created to read:
AB860,6,225
71.01
(6) (o) For taxable years that begin after December 31, 1999, for natural
6persons and fiduciaries, except fiduciaries of nuclear decommissioning trust or
7reserve funds, "Internal Revenue Code" means the federal Internal Revenue Code
8as amended to December 31, 1999, excluding sections 103, 104 and 110 of P.L.
9102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and
10sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as
11indirectly affected by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
12101-140, P.L.
101-179, P.L.
101-239, P.L.
101-280, P.L.
101-508, P.L.
102-90, P.L.
13102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
14102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and
1513203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
16104-117, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605
17(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
18105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and P.L.
106-170. The Internal
19Revenue Code applies for Wisconsin purposes at the same time as for federal
20purposes. Amendments to the federal Internal Revenue Code enacted after
21December 31, 1999, do not apply to this paragraph with respect to taxable years
22beginning after December 31, 1999.
AB860,7,8
171.01
(7r) Notwithstanding sub. (6), for purposes of computing amortization
2or depreciation, " Internal Revenue Code" means either the federal Internal Revenue
3Code as amended to December 31,
1998 1999, or the federal Internal Revenue Code
4in effect for the taxable year for which the return is filed, except that property that,
5under s. 71.02 (2) (d) 12., 1985 stats., is required to be depreciated for taxable year
61986 under the Internal Revenue Code as amended to December 31, 1980, shall
7continue to be depreciated under the Internal Revenue Code as amended to
8December 31, 1980.
AB860,8,1213
71.22
(4) (L) Except as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34
14(1g) and 71.42 (2), "Internal Revenue Code", for taxable years that begin after
15December 31, 1996, and before January 1, 1998, means the federal Internal
16Revenue Code as amended to December 31, 1996, excluding sections 103, 104 and
17110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
18103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188,
19and as amended by P.L.
105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and P.L.
20106-36, and as indirectly affected in the provisions applicable to this subchapter by
21P.L.
99-514, P.L.
100-203, P.L.
100-647 excluding sections 803 (d) (2) (B), 805 (d) (2),
22812 (c) (2), 821 (b) (2) and 823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
23100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
24102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
25102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and
113203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
2104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
3104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-206 and, 4P.L.
105-277 and P.L. 106-36. The Internal Revenue Code applies for Wisconsin
5purposes at the same time as for federal purposes. Amendments to the federal
6Internal Revenue Code enacted after December 31, 1996, do not apply to this
7paragraph with respect to taxable years beginning after December 31, 1996, and
8before January 1, 1998, except that changes to the Internal Revenue Code made by
9P.L.
105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and P.L. 106-36 and
10changes that indirectly affect the provisions applicable to this subchapter made by
11P.L.
105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and P.L. 106-36 apply for
12Wisconsin purposes at the same time as for federal purposes.
AB860,9,1415
71.22
(4) (m) Except as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34
16(1g) and 71.42 (2), "Internal Revenue Code", for taxable years that begin after
17December 31, 1997, and before January 1, 1999, means the federal Internal
18Revenue Code as amended to December 31, 1997, excluding sections 103, 104 and
19110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
20103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188,
21and as amended by P.L.
105-178, P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and
22P.L. 106-170, and as indirectly affected in the provisions applicable to this
23subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647 excluding sections 803 (d) (2)
24(B), 805 (d) (2), 812 (c) (2), 821 (b) (2) and 823 (c) (2) of P.L.
99-514 and section 1008
25(g) (5) of P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
1101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
2102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
313174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
4104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d)
5of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178,
6P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170. The Internal Revenue
7Code applies for Wisconsin purposes at the same time as for federal purposes.
8Amendments to the federal Internal Revenue Code enacted after December 31, 1997,
9do not apply to this paragraph with respect to taxable years beginning after
10December 31, 1997, and before January 1, 1999, except that changes to the Internal
11Revenue Code made by P.L.
105-178, P.L.
105-206 and, P.L.
105-277, P.L. 106-36
12and P.L. 106-170 and changes that indirectly affect the provisions applicable to this
13subchapter made by P.L.
105-178, P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and
14P.L. 106-170 apply for Wisconsin purposes at the same time as for federal purposes.
AB860,9,2517
71.22
(4) (n) Except as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34
18(1g) and 71.42 (2), "Internal Revenue Code", for taxable years that begin after
19December 31, 1998,
and before January 1, 2000, means the federal Internal Revenue
20Code as amended to December 31, 1998, excluding sections 103, 104 and 110 of P.L.
21102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and
22sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188,
and as
23amended by P.L. 106-36 and P.L. 106-170, and as indirectly affected in the
24provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647 25excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2) and 823 (c) (2) of
1P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
2101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and
3110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
413113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
5103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
6(c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
7105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and
8P.L. 106-170. The Internal Revenue Code applies for Wisconsin purposes at the
9same time as for federal purposes. Amendments to the federal Internal Revenue
10Code enacted after December 31, 1998, do not apply to this paragraph with respect
11to taxable years beginning after December 31, 1998
, and before January 1, 2000,
12except that changes to the Internal Revenue Code made by P.L. 106-36 and P.L.
13106-170 and changes that indirectly affect the provisions applicable to this
14subchapter made by P.L. 106-36 and P.L. 106-170 apply for Wisconsin purposes at
15the same time as for federal purposes.
AB860, s. 11
16Section
11. 71.22 (4) (o) of the statutes is created to read:
AB860,11,1017
71.22
(4) (o) Except as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34
18(1g) and 71.42 (2), "Internal Revenue Code", for taxable years that begin after
19December 31, 1999, means the federal Internal Revenue Code as amended to
20December 31, 1999, excluding sections 103, 104 and 110 of P.L.
102-227, sections
2113113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and sections 1123 (b),
221202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as indirectly affected in the
23provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647 24excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2) and 823 (c) (2) of
25P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
1101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and
2110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
313113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
4103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
5(c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
6105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and P.L.
7106-170. The Internal Revenue Code applies for Wisconsin purposes at the same
8time as for federal purposes. Amendments to the federal Internal Revenue Code
9enacted after December 31, 1999, do not apply to this paragraph with respect to
10taxable years beginning after December 31, 1999.
AB860,12,1215
71.22
(4m) (j) For taxable years that begin after December 31, 1996, and before
16January 1, 1998, "Internal Revenue Code", for corporations that are subject to a tax
17on unrelated business income under s. 71.26 (1) (a), means the federal Internal
18Revenue Code as amended to December 31, 1996, excluding sections 103, 104 and
19110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
20103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188 21and as amended by P.L.
105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and P.L.
22106-36, and as indirectly affected in the provisions applicable to this subchapter by
23P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
24P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
25102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
1(d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
2103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
31311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
4105-34, P.L.
105-206 and, P.L.
105-277 and P.L. 106-36. The Internal Revenue Code
5applies for Wisconsin purposes at the same time as for federal purposes.
6Amendments to the Internal Revenue Code enacted after December 31, 1996, do not
7apply to this paragraph with respect to taxable years beginning after
8December 31, 1996, and before January 1, 1998, except that changes to the Internal
9Revenue Code made by P.L.
105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and
10P.L. 106-36 and changes that indirectly affect provisions applicable to this
11subchapter made by P.L.
105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and
12P.L. 106-36, apply for Wisconsin purposes at the same time as for federal purposes.
AB860,13,1315
71.22
(4m) (k) For taxable years that begin after December 31, 1997, and
16before January 1, 1999, "Internal Revenue Code", for corporations that are subject
17to a tax on unrelated business income under s. 71.26 (1) (a), means the federal
18Internal Revenue Code as amended to December 31, 1997, excluding sections 103,
19104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203
20(d) of P.L.
103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
21104-188, and as amended by P.L.
105-178, P.L.
105-206 and
, P.L.
105-277, P.L.
22106-36 and P.L. 106-170, and as indirectly affected in the provisions applicable to
23this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
24101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
25103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
1sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
2103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
31123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
4104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and, P.L.
105-277,
5P.L. 106-36 and P.L. 106-170. The Internal Revenue Code applies for Wisconsin
6purposes at the same time as for federal purposes. Amendments to the 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 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170 and changes
11that indirectly affect the provisions applicable to this subchapter made by P.L.
12105-178, P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170 apply for
13Wisconsin purposes at the same time as for federal purposes.
AB860,14,1216
71.22
(4m) (L) For taxable years that begin after December 31, 1998,
and
17before January 1, 2000, "Internal Revenue Code", for corporations that are subject
18to a tax on unrelated business income under s. 71.26 (1) (a), means the federal
19Internal Revenue Code as amended to December 31, 1998, excluding sections 103,
20104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203
21(d) of P.L.
103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
22104-188,
and as amended by P.L. 106-36 and P.L. 106-170, and as indirectly affected
23in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
24100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
25102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
1102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and
213203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
3104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
4104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
5105-206 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170. The Internal Revenue
6Code applies for Wisconsin purposes at the same time as for federal purposes.
7Amendments to the Internal Revenue Code enacted after December 31, 1998, do not
8apply to this paragraph with respect to taxable years beginning after
9December 31, 1998
, and before January 1, 2000, except that changes to the Internal
10Revenue Code made by P.L. 106-36 and P.L. 106-170 and changes that indirectly
11affect the provisions applicable to this subchapter made by P.L. 106-36 and P.L.
12106-170 apply for Wisconsin purposes at the same time as for federal purposes.
AB860, s. 16
13Section
16. 71.22 (4m) (m) of the statutes is created to read:
AB860,15,614
71.22
(4m) (m) For taxable years that begin after December 31, 1999, "Internal
15Revenue Code", for corporations that are subject to a tax on unrelated business
16income under s. 71.26 (1) (a), means the federal Internal Revenue Code as amended
17to December 31, 1999, excluding sections 103, 104 and 110 of P.L.
102-227, sections
1813113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and sections 1123
19(b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as indirectly affected
20in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
21100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
22102-227, 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 and P.L.
106-170. The Internal Revenue Code
3applies for Wisconsin purposes at the same time as for federal purposes.
4Amendments to the Internal Revenue Code enacted after December 31, 1999, do not
5apply to this paragraph with respect to taxable years beginning after
6December 31, 1999.
AB860,17,1911
71.26
(2) (b) 12. For taxable years that begin after December 31, 1996, and
12before January 1, 1998, for a corporation, conduit or common law trust which
13qualifies as a regulated investment company, real estate mortgage investment
14conduit, real estate investment trust or financial asset securitization investment
15trust under the Internal Revenue Code as amended to December 31, 1996, excluding
16sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174
17and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605
18(d) of P.L.
104-188, and as amended by P.L.
105-33, P.L.
105-34, P.L.
105-206 and, 19P.L.
105-277 and P.L. 106-36, and as indirectly affected in the provisions applicable
20to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
21101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
22103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
23sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
24103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
251123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
1104-193, P.L.
105-33, P.L.
105-34, P.L.
105-206 and
, P.L.
105-277 and P.L. 106-36,
2"net income" means the federal regulated investment company taxable income,
3federal real estate mortgage investment conduit taxable income, federal real estate
4investment trust or financial asset securitization investment trust taxable income
5of the corporation, conduit or trust as determined under the Internal Revenue Code
6as amended to December 31, 1996, excluding sections 103, 104 and 110 of P.L.
7102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and
8sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188 and as amended
9by P.L.
105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and P.L. 106-36, and as
10indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
11100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
12101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
13102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
1413174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
15104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d)
16of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-206 17and, P.L.
105-277 and P.L. 106-36, except that property that, under s. 71.02 (1) (c)
188. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986
19under the Internal Revenue Code as amended to December 31, 1980, shall continue
20to be depreciated under the Internal Revenue Code as amended to
21December 31, 1980, and except that the appropriate amount shall be added or
22subtracted to reflect differences between the depreciation or adjusted basis for
23federal income tax purposes and the depreciation or adjusted basis under this
24chapter of any property disposed of during the taxable year. The Internal Revenue
25Code as amended to December 31, 1996, excluding sections 103, 104 and 110 of P.L.
1102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66,
2and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as
3amended by P.L.
105-33, P.L.
105-34, P.L.
105-206 and
, P.L.
105-277 and P.L.
4106-36, and as indirectly affected in the provisions applicable to this subchapter by
5P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
6P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
7102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
8(d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
9103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
101311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
11105-34, P.L.
105-206 and, P.L.
105-277 and P.L. 106-36, applies for Wisconsin
12purposes at the same time as for federal purposes. Amendments to the Internal
13Revenue Code enacted after December 31, 1996, do not apply to this subdivision with
14respect to taxable years that begin after December 31, 1996, and before
15January 1, 1998, except that changes to the Internal Revenue Code made by P.L.
16105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and P.L. 106-36 and changes
17that indirectly affect the provisions applicable to this subchapter made by P.L.
18105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277 and P.L. 106-36 apply for
19Wisconsin purposes at the same time as for federal purposes.
AB860,20,622
71.26
(2) (b) 13. For taxable years that begin after December 31, 1997, and
23before January 1, 1999, for a corporation, conduit or common law trust which
24qualifies as a regulated investment company, real estate mortgage investment
25conduit, real estate investment trust or financial asset securitization investment
1trust under the Internal Revenue Code as amended to December 31, 1997, excluding
2sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174
3and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605
4(d) of P.L.
104-188, and as amended by P.L.
105-178, P.L.
105-206
and, P.L.
105-277,
5P.L. 106-36 and P.L. 106-170, and as indirectly affected in the provisions applicable
6to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
7101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
8103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
9sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
10103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
111123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
12104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and, P.L.
105-277,
13P.L. 106-36 and P.L. 106-170, "net income" means the federal regulated investment
14company taxable income, federal real estate mortgage investment conduit taxable
15income, federal real estate investment trust or financial asset securitization
16investment trust taxable income of the corporation, conduit or trust as determined
17under the Internal Revenue Code as amended to December 31, 1997, excluding
18sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174
19and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605
20(d) of P.L.
104-188, and as amended by P.L.
105-178, P.L.
105-206
and, P.L.
105-277,
21P.L. 106-36 and P.L. 106-170, and as indirectly affected in the provisions applicable
22to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
23101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
24103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
25sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
1103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
21123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
3104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and, P.L.
105-277,
4P.L. 106-36 and P.L. 106-170, except that property that, under s. 71.02 (1) (c) 8. to
511., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under
6the Internal Revenue Code as amended to December 31, 1980, shall continue to be
7depreciated under the Internal Revenue Code as amended to December 31, 1980,
8and except that the appropriate amount shall be added or subtracted to reflect
9differences between the depreciation or adjusted basis for federal income tax
10purposes and the depreciation or adjusted basis under this chapter of any property
11disposed of during the taxable year. The Internal Revenue Code as amended to
12December 31, 1997, excluding sections 103, 104 and 110 of P.L.
102-227, sections
1313113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and sections 1123
14(b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as amended by P.L.
15105-178, P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170, and as
16indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
17100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
18101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
19102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
2013174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
21104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d)
22of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178,
23P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170, applies for Wisconsin
24purposes at the same time as for federal purposes. Amendments to the Internal
25Revenue Code enacted after December 31, 1997, do not apply to this subdivision with
1respect to taxable years that begin after December 31, 1997, and before
2January 1, 1999, except that changes to the Internal Revenue Code made by P.L.
3105-178, P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170 and changes
4that indirectly affect the provisions applicable to this subchapter made by P.L.
5105-178, P.L.
105-206 and, P.L.
105-277, P.L. 106-36 and P.L. 106-170 apply for
6Wisconsin purposes at the same time as for federal purposes.
