LRB-3989/1
MES:wlj:ch
2001 - 2002 LEGISLATURE
October 10, 2001 - Introduced by
Veterans and Military Affairs. Referred to
Committee on Veterans and Military Affairs.
AB560,1,3
1An Act to create 71.03 (7) (c) of the statutes;
relating to: abating interest
2otherwise due on income tax returns filed under an extension by members of
3the armed forces who are participating in that operation.
Analysis by the Legislative Reference Bureau
Under current law, any extension of time granted by law or by the internal
revenue service for a taxpayer to file his or her federal return extends the time for
filing under state law, although the taxes that are due are subject to interest at a rate
of 12% per year during the period of the extension. Under this bill, that 12% interest
rate does not apply to persons who served in support of Operation Enduring
Freedom, or a successor operation, in the United States or, for persons who qualify
for a federal extension, to persons who served outside of the United States because
of their participation in Operation Enduring Freedom or a successor operation in the
Enduring Freedom theater of operations.
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:
AB560, s. 1
4Section
1. 71.03 (7) (c) of the statutes is created to read:
AB560,2,7
171.03
(7) (c) For taxable years beginning after December 31, 2000, and before
2January 1, 2003, for persons who served in support of Operation Enduring Freedom
3or an operation that is a successor to Operation Enduring Freedom in the United
4States, or for persons who qualify for a federal extension of time to file under
26 USC
57508, who served outside the United States because of their participation in
6Operation Enduring Freedom or an operation that is a successor to Operation
7Enduring Freedom in the Enduring Freedom theater of operations.
