AB837,6,2221 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under
22sub. (4), applies to the credit under this subsection.
AB837, s. 7 23Section 7. 71.30 (3) (cn) of the statutes is created to read:
AB837,6,2424 71.30 (3) (cn) Youth summer employment credit under s. 71.28 (5c).
AB837, s. 8 25Section 8. 71.34 (1) (g) of the statutes is amended to read:
AB837,7,3
171.34 (1) (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), (3), (3g),
3(3n), (3t), (3w), (5b), (5c), (5e), (5f), (5g), and (5h) and passed through to shareholders.
AB837, s. 9 4Section 9. 71.45 (2) (a) 10. of the statutes is amended to read:
AB837,7,105 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
6computed under s. 71.47 (1dd) to (1dx), (3n), (3w), (5b), (5c), (5e), (5f), (5g), and (5h)
7and not passed through by a partnership, limited liability company, or tax-option
8corporation that has added that amount to the partnership's, limited liability
9company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1) (g) and
10the amount of credit computed under s. 71.47 (1), (3), (3t), (4), and (5).
AB837, s. 10 11Section 10. 71.47 (5c) of the statutes is created to read:
AB837,7,1312 71.47 (5c) Youth summer employment credit. (a) Definitions. In this
13subsection:
AB837,7,1414 1. "Claimant" means a person who files a claim under this subsection.
AB837,7,1515 2. "Full time" means at least 35 hours a week.
AB837,7,1616 3. "Part time" means less than 35 hours a week.
AB837,7,2017 (b) Filing claims. Subject to the limitations provided in this subsection, a
18claimant may claim as a credit against the taxes imposed under s. 71.43, up to the
19amount of those taxes, an amount that is equal to the amount of the wages that the
20claimant paid in the taxable year to an employee, if all of the following apply:
AB837,7,2221 1. The claimant paid the wages for work performed during the period beginning
22on July 1 and ending on the first Monday in September of the taxable year.
AB837,7,2323 2. The employee is at least 15 years of age, but no more than 18 years of age.
AB837,8,224 3. The employee is either a high school student or graduates from high school
25during the taxable year prior to the first Monday in September and provides proof

1to the claimant that he or she is enrolled in a university or college located in this state
2and intends to begin instruction at the university or college in that taxable year.
AB837,8,43 4. The employee receives an hourly wage that is at least 20 percent more than
4the federal minimum hourly wage.
AB837,8,65 5. The student's most recent cumulative high school grade point average is at
6least 3.0 or the equivalent.
AB837,8,117 (c) Limitations. 1. The maximum amount that a claimant may claim under this
8subsection in any taxable year for any single employee who works full time is an
9amount that is equal to the lesser of $600 for each month that the employee is
10employed during the period described under par. (b) or 70 percent of the employee's
11monthly wages during that period.
AB837,8,1612 2. The maximum amount that a claimant may claim under this subsection in
13any taxable year for any single employee who works part time is an amount that is
14equal to the lesser of $600 for each month that the employee is employed during the
15period described under par. (b) or 70 percent of the employee's monthly wages during
16that period.
AB837,8,1817 3. The maximum amount that a claimant may claim under this subsection in
18any taxable year is $10,000.
AB837,9,219 4. Partnerships, limited liability companies, and tax-option corporations may
20not claim the credit under this subsection, but the eligibility for, and the amount of,
21the credit are based on their payment of amounts under par. (b). A partnership,
22limited liability company, or tax-option corporation shall compute the amount of
23credit that each of its partners, members, or shareholders may claim and shall
24provide that information to each of them. Partners, members of limited liability

1companies, and shareholders of tax-option corporations may claim the credit in
2proportion to their ownership interests.
AB837,9,43 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
4s. 71.28 (4), applies to the credit under this subsection.
AB837, s. 11 5Section 11. 71.49 (1) (cn) of the statutes is created to read:
AB837,9,66 71.49 (1) (cn) Youth summer employment credit under s. 71.47 (5c).
AB837, s. 12 7Section 12. 77.92 (4) of the statutes is amended to read:
AB837,9,228 77.92 (4) "Net business income," with respect to a partnership, means taxable
9income as calculated under section 703 of the Internal Revenue Code; plus the items
10of income and gain under section 702 of the Internal Revenue Code, including taxable
11state and municipal bond interest and excluding nontaxable interest income or
12dividend income from federal government obligations; minus the items of loss and
13deduction under section 702 of the Internal Revenue Code, except items that are not
14deductible under s. 71.21; plus guaranteed payments to partners under section 707
15(c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de),
16(2di), (2dj), (2dL), (2dm), (2dr), (2ds), (2dx), (3g), (3s), (3n), (3t), (3w), (5b), (5c), (5e),
17(5f), (5g), and (5h); and plus or minus, as appropriate, transitional adjustments,
18depreciation differences, and basis differences under s. 71.05 (13), (15), (16), (17), and
19(19); but excluding income, gain, loss, and deductions from farming. "Net business
20income," with respect to a natural person, estate, or trust, means profit from a trade
21or business for federal income tax purposes and includes net income derived as an
22employee as defined in section 3121 (d) (3) of the Internal Revenue Code.
AB837, s. 13 23Section 13. Initial applicability.
AB837,9,2424 (1) This act first applies to taxable years beginning on January 1, 2008.
AB837,9,2525 (End)
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