AB150-engrossed,1140,1918
(ge) Development zones sales tax credit under s. 71.07 (2ds) if the credit is
19based on activity in a zone under s. 560.797.
AB150-engrossed,1140,2020
(gs) Development zones day care credit under s. 71.07 (2dd).
AB150-engrossed,1140,2121
(gt) Development zones environmental remediation credit under s. 71.07 (2de).
AB150-engrossed,1141,523
71.10
(4) (i) The total of claim of right credit under s. 71.07 (1), farmland
24preservation credit under subch. IX, homestead credit under subch. VIII, farmland
25tax relief credit under s. 71.07 (3m), farmers' drought property tax credit under s.
171.07 (2fd), development zones sales tax credit under s. 71.07 (2ds)
unless the credit
2is based on activity in a zone under s. 560.797, development zones jobs credit under
3s. 71.07 (2dj)
unless the credit is based on activity in a zone under s. 560.797, earned
4income tax credit under s. 71.07 (9e), estimated tax payments under s. 71.09, and
5taxes withheld under subch. X.
AB150-engrossed,1141,157
71.10
(5) (a) 2. "Endangered resources program" means purchasing or
8improving land or habitats for any native Wisconsin endangered or threatened
9species as defined in s. 29.415 (2)
(a) (am) or (b) or for any nongame species as defined
10in s. 29.01 (10), conducting wildlife and resource research and surveys and providing
11wildlife management services, providing for wildlife damage control or the payment
12of claims for damage associated with endangered or threatened species, repaying the
13general fund for amounts expended under s. 20.370 (1) (fb) in fiscal year 1983-84 and
14the payment of administrative expenses related to the administration of this
15subsection.
AB150-engrossed,1141,2017
71.10
(5e) Wisconsin election campaign fund. (a)
Voluntary payments. 1.
18`Designation on return.' Any individual filing an income tax return may designate
19on the return any amount of additional payment or any amount of a refund due that
20individual for the Wisconsin election campaign fund.
AB150-engrossed,1141,2321
2. `Designation added to tax owed.' If the individual owes any tax, the
22individual shall remit in full the tax due and the amount designated on the return
23for the Wisconsin election campaign fund when the individual files a tax return.
AB150-engrossed,1142,224
3. `Designation deducted from refund.' Except as provided under par. (c) if the
25individual is owed a refund for that year after crediting under ss. 71.75 (9) and 71.80
1(3), the department of revenue shall deduct the amount designated on the return for
2the Wisconsin election campaign fund from the amount of the refund.
AB150-engrossed,1142,63
(b)
Errors; failure to remit correct amount. If an individual who owes taxes fails
4to remit an amount equal to or in excess of the total of the actual tax due, after error
5corrections, and the amount designated on the return for the Wisconsin election
6campaign fund:
AB150-engrossed,1142,127
1. The department shall reduce the designation for the Wisconsin election
8campaign fund program to reflect the amount remitted in excess of the actual tax
9due, after error corrections, if the individual remitted an amount in excess of the
10actual tax due, after error corrections, but less than the total of the actual tax due,
11after error corrections, and the amount originally designated on the return for the
12Wisconsin election campaign fund.
AB150-engrossed,1142,1513
2. The designation for the Wisconsin election campaign fund is void if the
14individual remitted an amount equal to or less than the actual tax due, after error
15corrections.
AB150-engrossed,1142,2116
(c)
Errors; insufficient refund. If an individual who is owed a refund which does
17not equal or exceed the amount designated on the return for the Wisconsin election
18campaign fund, after crediting under ss. 71.75 (9) and 71.80 (3) and after error
19corrections, the department shall reduce the designation for the Wisconsin election
20campaign fund to reflect the actual amount of the refund the individual is otherwise
21owed, after crediting under ss. 71.75 (9) and 71.80 (3) and after error corrections.
AB150-engrossed,1142,2322
(d)
Conditions. If an individual places any conditions on a designation for the
23Wisconsin election campaign fund, the designation is void.
AB150-engrossed,1143,3
1(e)
Void designation. If a designation for the Wisconsin election campaign fund
2is void, the department of revenue shall disregard the designation and determine
3amounts due, owed, refunded and received without regard to the void designation.
AB150-engrossed,1143,84
(f)
Tax return. The secretary of revenue shall provide a place for the
5designations under this subsection on the individual income tax return and the
6secretary shall highlight that place on the return by a symbol chosen by the
7department of revenue that relates to elections. The names of persons making
8designations under this subsection shall be strictly confidential.
AB150-engrossed,1143,199
(g)
Certification of amounts. Annually, on or before August 15, the secretary
10of revenue shall certify to the elections board and the secretary of administration the
11total amount received from all designations for the Wisconsin election campaign
12fund made by taxpayers during the previous fiscal year. Amounts designated for the
13Wisconsin election campaign fund under this subsection are not subject to refund to
14the taxpayer unless the taxpayer submits information to the satisfaction of the
15department within 18 months after the date taxes are due or the date the return is
16filed, whichever is later, that the amount designated is clearly in error. Any refund
17granted by the department of revenue under this subdivision shall be deducted from
18the moneys received under this subsection in the fiscal year that the refund is
19certified.
AB150-engrossed,1143,2321
71.10
(5m) Domestic abuse awareness and prevention. (a)
Definitions. In this
22subsection, "domestic abuse program" means the program described under s. 46.95
23(4).
AB150-engrossed,1144,3
1(b)
Voluntary payments. 1. `Designation on return'. Any individual filing an
2income tax return may designate on the return any amount of additional payment
3or any amount of a refund due that individual for the domestic abuse program.
AB150-engrossed,1144,64
2. `Designation added to tax owed'. If the individual owes any tax, the
5individual shall remit in full the tax due and the amount designated on the return
6for the domestic abuse program when the individual files a tax return.
AB150-engrossed,1144,107
3. `Designation deducted from refund'. Except as provided under par. (d) if the
8individual is owed a refund for that year after crediting under ss. 71.75 (9) and 71.80
9(3), the department of revenue shall deduct the amount designated on the return for
10the domestic abuse program from the amount of the refund.
AB150-engrossed,1144,1411
(c)
Errors; failure to remit correct amount. If an individual who owes taxes fails
12to remit an amount equal to or in excess of the total of the actual tax due, after error
13corrections, and the amount designated on the return for the domestic abuse
14program:
AB150-engrossed,1144,1915
1. The department shall reduce the designation for the domestic abuse program
16to reflect the amount remitted in excess of the actual tax due, after error corrections,
17if the individual remitted an amount in excess of the actual tax due, after error
18corrections, but less than the total of the actual tax due, after error corrections, and
19the amount originally designated on the return for the domestic abuse program.
AB150-engrossed,1144,2120
2. The designation for the domestic abuse program is void if the individual
21remitted an amount equal to or less than the actual tax due, after error corrections.
AB150-engrossed,1145,222
(d)
Errors; insufficient refund. If an individual who is owed a refund which does
23not equal or exceed the amount designated on the return for the domestic abuse
24program, after crediting under ss. 71.75 (9) and 71.80 (3) and after error corrections,
25the department shall reduce the designation for the domestic abuse program to
1reflect the actual amount of the refund the individual is otherwise owed, after
2crediting under ss. 71.75 (9) and 71.80 (3) and after error corrections.
AB150-engrossed,1145,43
(e)
Conditions. If an individual places any conditions on a designation for the
4domestic abuse program, the designation is void.
AB150-engrossed,1145,75
(f)
Void designation. If a designation for the domestic abuse program is void,
6the department of revenue shall disregard the designation and determine amounts
7due, owed, refunded and received without regard to the void designation.
AB150-engrossed,1145,118
(g)
Tax return. The secretary of revenue shall provide a place for the
9designations under this subsection on the individual income tax return and the
10secretary shall highlight that place on the return by a symbol chosen by the
11department of revenue that relates to domestic abuse prevention and awareness.
AB150-engrossed,1145,1512
(h)
Certification of amounts. Annually, on or before September 15, the
13secretary of revenue shall certify to the department of health and social services and
14the secretary of administration, and on or before September 15, 1995, the secretary
15of revenue shall also certify to the state treasurer:
AB150-engrossed,1145,1816
1. The total amount of the administrative costs, including data processing
17costs, incurred by the department of revenue in administering this subsection during
18the previous fiscal year.
AB150-engrossed,1145,2019
2. The total amount received from all designations for the domestic abuse
20program made by taxpayers during the previous fiscal year.
AB150-engrossed,1145,2321
3. The net amount remaining after the administrative costs, including data
22processing costs, under subd. 1. are subtracted from the total received under subd.
232.
AB150-engrossed,1146,324
4. From the moneys received from designations for the domestic abuse
25program, an amount equal to the sum of administrative expenses, including data
1processing costs, certified under subd. 1. shall be deposited in the general fund and
2credited to the appropriation under s. 20.566 (1) (hp), and the net amount remaining
3certified under subd. 3. shall be credited to the appropriation under s. 20.435 (1) (hk).
AB150-engrossed,1146,104
5. Amounts designated for the domestic abuse program under this subsection
5are not subject to refund to the taxpayer unless the taxpayer submits information to
6the satisfaction of the department within 18 months after the date taxes are due or
7the date the return is filed, whichever is later, that the amount designated is clearly
8in error. Any refund granted by the department of revenue under this subdivision
9shall be deducted from the moneys received under this subsection in the fiscal year
10that the refund is certified.
AB150-engrossed,1146,1412
71.21
(4) Credits computed by a partnership under s. 71.07
(2dd), (2de), (2di),
13(2dj), (2dL) and (2ds) and passed through to partners or members shall be added to
14the partnership's or limited liability company's income.
AB150-engrossed,1147,1117
71.22
(4) (h) 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, 1992, and before January 1, 1994, means the federal internal revenue
20code as amended to December 31, 1992, excluding sections 103, 104 and 110 of P.L.
21102-227, and as amended by P.L.
103-66, excluding sections 13101 (a) and (c) 1,
2213113, 13150, 13171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 and as
23indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
24100-203, P.L.
100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821
25(b) (2) and 823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
1101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
2excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 3P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and
413203 of P.L.
103-66 and P.L. 103-465. The internal revenue code applies for
5Wisconsin purposes at the same time as for federal purposes. Amendments to the
6federal internal revenue code enacted after December 31, 1992, do not apply to this
7paragraph with respect to taxable years beginning after December 31, 1992, and
8before January 1, 1994, except that changes to the internal revenue code made by
9P.L.
103-66 and P.L. 103-465 and changes that indirectly affect the provisions
10applicable to this subchapter made by P.L.
103-66 and P.L. 103-465 apply for
11Wisconsin purposes at the same time as for federal purposes.
AB150-engrossed,1148,813
71.22
(4) (i) 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, 1993,
and before January 1, 1995, means the federal internal revenue
16code as amended to December 31, 1993, excluding sections 103, 104 and 110 of P.L.
17102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
18103-66,
and as amended by P.L. 103-296, P.L. 103-337 and P.L. 103-465 and as
19indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
20100-203, P.L.
100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821
21(b) (2) and 823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
22101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
23excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 24P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and
2513215 of P.L.
103-66 and P.L. 103-296, P.L. 103-337 and P.L. 103-465. The internal
1revenue code applies for Wisconsin purposes at the same time as for federal purposes.
2Amendments to the federal internal revenue code enacted after December 31, 1993,
3do not apply to this paragraph with respect to taxable years beginning after
4December 31, 1993
, and before January 1, 1995, except that changes to the internal
5revenue code made by P.L. 103-296, P.L. 103-337 and P.L. 103-465 and changes that
6indirectly affect the provisions applicable to this subchapter made by P.L. 103-296,
7P.L. 103-337 and P.L. 103-465 apply for Wisconsin purposes at the same time as for
8federal purposes.
AB150-engrossed,1148,2410
71.22
(4) (j) Except as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34
11(1g) and 71.42 (2), "internal revenue code", for taxable years that begin after
12December 31, 1994, means the federal internal revenue code as amended to
13December 31, 1994, excluding sections 103, 104 and 110 of P.L.
102-227 and sections
1413113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and as indirectly
15affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
16P.L.
100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2) and
17823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
18101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
19103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
20sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and P.L.
21103-296, P.L.
103-337 and P.L.
103-465. 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, 1994, do not apply to this
24paragraph with respect to taxable years beginning after December 31, 1994.
AB150-engrossed,1149,18
171.22
(4m) (f) For taxable years that begin after December 31, 1992, and before
2January 1, 1994, "internal revenue code", for corporations that are subject to a tax
3on unrelated business income under s. 71.26 (1) (a), means the federal internal
4revenue code as amended to December 31, 1992, excluding sections 103, 104 and 110
5of P.L.
102-227, and as amended by P.L.
103-66, excluding sections 13101 (a) and (c)
61, 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 and as
7indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
8100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
9101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
10102-318, P.L.
102-486 and, P.L.
103-66, excluding sections 13101 (a) and (c) 1,
1113113, 13150, 13171, 13174 and 13203 of P.L.
103-66 and P.L. 103-465. The internal
12revenue code applies for Wisconsin purposes at the same time as for federal purposes.
13Amendments to the internal revenue code enacted after December 31, 1992, do not
14apply to this paragraph with respect to taxable years beginning after December 31,
151992, and before January 1, 1994, except that changes to the internal revenue code
16made by P.L.
103-66 and P.L. 103-465 and changes that indirectly affect the
17provisions applicable to this subchapter made by P.L.
103-66 and P.L. 103-465 apply
18for Wisconsin purposes at the same time as for federal purposes.
AB150-engrossed,1150,1320
71.22
(4m) (g) For taxable years that begin after December 31, 1993,
and before
21January 1, 1995, "internal revenue code", for corporations that are subject to a tax
22on unrelated business income under s. 71.26 (1) (a), means the federal internal
23revenue code as amended to December 31, 1993, excluding sections 103, 104 and 110
24of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215
25of P.L.
103-66,
and as amended by P.L. 103-296, P.L. 103-337 and P.L. 103-465 and
1as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514,
2P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239,
3P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
4102-318, P.L.
102-486 and, P.L.
103-66, excluding sections 13113, 13150 (d), 13171
5(d), 13174, 13203 (d) and 13215 of P.L.
103-66, P.L. 103-296, P.L. 103-337 and P.L.
6103-465. The internal revenue code applies for Wisconsin purposes at the same time
7as for federal purposes. Amendments to the internal revenue code enacted after
8December 31, 1993, do not apply to this paragraph with respect to taxable years
9beginning after December 31, 1993
, and before January 1, 1995, except that changes
10to the internal revenue code made by P.L. 103-296, P.L. 103-337 and P.L. 103-465
11and changes that indirectly affect the provisions applicable to this subchapter made
12by P.L. 103-296, P.L. 103-337 and P.L. 103-465 apply for Wisconsin purposes at the
13same time as for federal purposes.
AB150-engrossed,1151,315
71.22
(4m) (h) For taxable years that begin after December 31, 1994, "internal
16revenue code", for corporations that are subject to a tax on unrelated business income
17under s. 71.26 (1) (a), means the federal internal revenue code as amended to
18December 31, 1994, excluding sections 103, 104 and 110 of P.L.
102-227 and sections
1913113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, 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 and P.L.
103-465. The internal
25revenue code applies for Wisconsin purposes at the same time as for federal purposes.
1Amendments to the internal revenue code enacted after December 31, 1994, do not
2apply to this paragraph with respect to taxable years beginning after December 31,
31994.
AB150-engrossed,1152,35
71.26
(1) (a)
Certain corporations. Income of corporations organized under ch.
6185
, except income of a cooperative sickness care association organized under s.
7185.981, or of a service insurance corporation organized under ch. 613, that is derived
8from a health maintenance organization as defined in s. 609.01 (2) or a limited
9service health organization as defined in s. 609.01 (3), or operating under subch. I
10of ch. 616 which are bona fide cooperatives operated without pecuniary profit to any
11shareholder or member, or operated on a cooperative plan pursuant to which they
12determine and distribute their proceeds in substantial compliance with s. 185.45,
13and the income, except the unrelated business taxable income as defined in section
14512 of the internal revenue code
and except income that is derived from a health
15maintenance organization as defined in s. 609.01 (2) or a limited service health
16organization as defined in s. 609.01 (3), of all religious, scientific, educational,
17benevolent or other corporations or associations of individuals not organized or
18conducted for pecuniary profit. This paragraph does not apply to the income of
19savings banks, mutual loan corporations or savings and loan associations. This
20paragraph applies to the income of credit unions except to the income of any credit
21union that is derived from public deposits for any taxable year in which the credit
22union is approved as a public depository under ch. 34 and acts as a depository of state
23or local funds under s. 186.113 (20). For purposes of this paragraph, the income of
24a credit union that is derived from public deposits is the product of the credit union's
25gross annual income for the taxable year multiplied by a fraction, the numerator of
1which is the average monthly balance of public deposits in the credit union during
2the taxable year, and the denominator of which is the average monthly balance of all
3deposits in the credit union during the taxable year.
AB150-engrossed,1152,65
71.26
(1) (be)
Certain authorities. Income of the University of Wisconsin
6Hospitals and Clinics Authority.
AB150-engrossed,1152,188
71.26
(1) (d)
Bank in liquidation. Income of any bank placed in the hands of
9the
commissioner division of banking for liquidation under s. 220.08, if the tax levied,
10assessed or collected under this chapter on account of such bank diminishes the
11assets thereof so that full payment of all depositors cannot be made. Whenever the
12commissioner division of banking certifies to the department of revenue that the tax
13or any part thereof levied and assessed under this chapter against any such bank will
14so diminish the assets thereof that full payment of all depositors cannot be made, the
15department
of revenue shall cancel and abate such tax or part thereof, together with
16any penalty thereon. This paragraph shall apply to unpaid taxes which were levied
17and assessed subsequent to the time the bank was taken over by the
commissioner
18division of banking.
AB150-engrossed,1153,1120
71.26
(1) (e)
Menominee Indian tribe; distribution of assets. No distribution of
21assets from the United States to the members of the Menominee Indian tribe as
22defined in s.
49.085 49.385 or their lawful distributees, or to any corporation, or
23organization, created by the tribe or at its direction pursuant to section 8 of P.L.
2483-399, as amended, and no issuance of stocks, bonds, certificates of indebtedness,
25voting trust certificates or other securities by any such corporation or organization,
1or voting trust, to such members of the tribe or their lawful distributees shall be
2subject to income or franchise taxes under this chapter; provided that so much of any
3cash distribution made under said P.L.
83-399 as consists of a share of any interest
4earned on funds deposited in the treasury of the United States pursuant to the
5supplemental appropriation act, 1952, (65 Stat. 736, 754) shall not by virtue of this
6paragraph be exempt from the individual income tax of this state in the hands of the
7recipients for the year in which paid. For the purpose of ascertaining the gain or loss
8resulting from the sale or other disposition of such assets and stocks, bonds,
9certificates of indebtedness and other securities under this chapter, the fair market
10value of such property, on termination date as defined in s. 70.057 (1), 1967 stats.,
11shall be the basis for determining the amount of such gain or loss.
AB150-engrossed,1154,314
71.26
(2) (a)
Corporations in general. The "net income" of a corporation means
15the gross income as computed under the internal revenue code as modified under
16sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit
17computed under s. 71.28 (1) and (3) to (5) plus the amount of the credit computed
18under s. 71.28
(1dd), (1de), (1di), (1dj), (1dL) and (1ds) and not passed through by a
19partnership, limited liability company or tax-option corporation that has added that
20amount to the partnership's, limited liability company's or tax-option corporation's
21income under s. 71.21 (4) or 71.34 (1) (g) plus the amount of losses from the sale or
22other disposition of assets the gain from which would be wholly exempt income, as
23defined in sub. (3) (L), if the assets were sold or otherwise disposed of at a gain and
24minus deductions, as computed under the internal revenue code as modified under
25sub. (3), plus or minus, as appropriate, an amount equal to the difference between
1the federal basis and Wisconsin basis of any asset sold, exchanged, abandoned or
2otherwise disposed of in a taxable transaction during the taxable year, except as
3provided in par. (b) and s. 71.45 (2)
and (5).
AB150-engrossed,1155,256
71.26
(2) (b) 8. For taxable years that begin after December 31, 1992, and before
7January 1, 1994, for a corporation, conduit or common law trust which qualifies as
8a regulated investment company, real estate mortgage investment conduit or real
9estate investment trust under the internal revenue code as amended to December
1031, 1992, excluding sections 103, 104 and 110 of P.L.
102-227, and as amended by P.L.
11103-66, excluding sections 13101 (a) and (c) 1., 13113, 13150, 13171, 13174 and
1213203 of P.L.
103-66,
and P.L. 103-465 and as indirectly affected in the provisions
13applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
14101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
15excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 16P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and
1713203 of P.L.
103-66,
and P.L. 103-465 "net income" means the federal regulated
18investment company taxable income, federal real estate mortgage investment
19conduit taxable income or federal real estate investment trust taxable income of the
20corporation, conduit or trust as determined under the internal revenue code as
21amended to December 31, 1992, excluding sections 103, 104 and 110 of P.L.
102-227,
22and as amended by P.L.
103-66,
and P.L. 103-465 excluding sections 13101 (a) and
23(c) 1, 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66, and as indirectly affected
24in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
25100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
1102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
2102-486 and P.L.
103-66, excluding sections 13101 (a) and (c) 1., 13113, 13150,
313171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 except that property that,
4under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable
5years 1983 to 1986 under the internal revenue code as amended to December 31,
61980, shall continue to be depreciated under the internal revenue code as amended
7to December 31, 1980, and except that the appropriate amount shall be added or
8subtracted to reflect differences between the depreciation or adjusted basis for
9federal income tax purposes and the depreciation or adjusted basis under this
10chapter of any property disposed of during the taxable year. The internal revenue
11code as amended to December 31, 1992, excluding sections 103, 104 and 110 of P.L.
12102-227, and as amended by P.L.
103-66, excluding sections 13101 (a) and (c) 1,
1313113, 13150, 13171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 and as
14indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
15100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
16101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
17102-318, P.L.
102-486 and, P.L.
103-66, excluding sections 13101 (a) and (c) 1,
1813113, 13150, 13171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 applies for
19Wisconsin purposes at the same time as for federal purposes. Amendments to the
20internal revenue code enacted after December 31, 1992, do not apply to this
21subdivision with respect to taxable years that begin after December 31, 1992, and
22before January 1, 1994, except that changes to the internal revenue code made by
23P.L.
103-66 and P.L. 103-465 and changes that indirectly affect the provisions
24applicable to this subchapter made by P.L.
103-66 and P.L. 103-465 apply for
25Wisconsin purposes at the same time as for federal purposes.
AB150-engrossed,1157,222
71.26
(2) (b) 9. For taxable years that begin after December 31, 1993
, and before
3January 1, 1995, for a corporation, conduit or common law trust which qualifies as
4a regulated investment company, real estate mortgage investment conduit or real
5estate investment trust under the internal revenue code as amended to December
631, 1993, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113,
713150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66,
and as amended by
8P.L. 103-296, P.L. 103-337 and P.L. 103-465 and as indirectly affected in the
9provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647,
10P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
11excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 12P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and
1313215 of P.L.
103-66,
P.L. 103-296, P.L. 103-337 and P.L. 103-465 "net income"
14means the federal regulated investment company taxable income, federal real estate
15mortgage investment conduit taxable income or federal real estate investment trust
16taxable income of the corporation, conduit or trust as determined under the internal
17revenue code as amended to December 31, 1993, excluding sections 103, 104 and 110
18of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215
19of P.L.
103-66,
and as amended by P.L. 103-296, P.L. 103-337 and P.L. 103-465 and
20as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514,
21P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239,
22P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
23102-318, P.L.
102-486 and, P.L.
103-66,
P.L. 103-296, P.L. 103-337 and P.L.
24103-465 excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215
25of P.L.
103-66, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats.,
1is required to be depreciated for taxable years 1983 to 1986 under the internal
2revenue code as amended to December 31, 1980, shall continue to be depreciated
3under the internal revenue code as amended to December 31, 1980, and except that
4the appropriate amount shall be added or subtracted to reflect differences between
5the depreciation or adjusted basis for federal income tax purposes and the
6depreciation or adjusted basis under this chapter of any property disposed of during
7the taxable year. The internal revenue code as amended to December 31, 1993,
8excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d),
913171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66,
and as amended by P.L.
10103-296, P.L. 103-337 and P.L. 103-465 and as indirectly affected in the provisions
11applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
12101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
13excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 14P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and
1513215 of P.L.
103-66,
P.L. 103-296, P.L. 103-337 and P.L. 103-465 applies for
16Wisconsin purposes at the same time as for federal purposes. Amendments to the
17internal revenue code enacted after December 31, 1993, do not apply to this
18subdivision with respect to taxable years that begin after December 31, 1993
, and
19before January 1, 1995, except that changes to the internal revenue code made by
20P.L. 103-296, P.L. 103-337 and P.L. 103-465 and changes that indirectly affect the
21provisions applicable to this subchapter made by P.L. 103-296, P.L. 103-337 and P.L.
22103-465 apply for Wisconsin purposes at the same time as for federal purposes.
AB150-engrossed,1159,1224
71.26
(2) (b) 10. For taxable years that begin after December 31, 1994, for a
25corporation, conduit or common law trust which qualifies as a regulated investment
1company, real estate mortgage investment conduit or real estate investment trust
2under the internal revenue code as amended to December 31, 1994, excluding
3sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d),
413174 and 13203 (d) of P.L.
103-66, and as indirectly affected in the provisions
5applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
6101-73, 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 and
8P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of
9P.L.
103-66, P.L.
103-296, P.L.
103-337 and P.L.
103-465 "net income" means the
10federal regulated investment company taxable income, federal real estate mortgage
11investment conduit taxable income or federal real estate investment trust taxable
12income of the corporation, conduit or trust as determined under the internal revenue
13code as amended to December 31, 1994, excluding sections 103, 104 and 110 of P.L.
14102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
15103-66, and as indirectly affected in the provisions applicable to this subchapter by
16P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
17P.L.
101-239, 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, P.L.
103-296, P.L.
103-337 and
19P.L.
103-465 excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of
20P.L.
103-66, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is
21required to be depreciated for taxable years 1983 to 1986 under the internal revenue
22code as amended to December 31, 1980, shall continue to be depreciated under the
23internal revenue code as amended to December 31, 1980, and except that the
24appropriate amount shall be added or subtracted to reflect differences between the
25depreciation or adjusted basis for federal income tax purposes and the depreciation
1or adjusted basis under this chapter of any property disposed of during the taxable
2year. The internal revenue code as amended to December 31, 1994, excluding
3sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d),
413174, 13203 (d) and 13215 of P.L.
103-66, and as indirectly affected in the provisions
5applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
6101-73, 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, 13203 (d) and 13215
9of P.L.
103-66, P.L.
103-296, P.L.
103-337 and P.L.
103-465 applies for Wisconsin
10purposes at the same time as for federal purposes. Amendments to the internal
11revenue code enacted after December 31, 1994, do not apply to this subdivision with
12respect to taxable years that begin after December 31, 1994.
AB150-engrossed,1159,2414
71.26
(3) (y) A corporation may compute amortization and depreciation under
15either the federal internal revenue code as amended to December 31,
1993 1994, or
16the federal internal revenue code in effect for the taxable year for which the return
17is filed, except that property first placed in service by the taxpayer on or after
18January 1, 1983, but before January 1, 1987, that, under s. 71.04 (15) (b) and (br),
191985 stats., is required to be depreciated under the internal revenue code as
20amended to December 31, 1980, and property first placed in service in taxable year
211981 or thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985
22stats., is required to be depreciated under the internal revenue code as amended to
23December 31, 1980, shall continue to be depreciated under the internal revenue code
24as amended to December 31, 1980.
AB150-engrossed,1160,1
171.28
(1dd) Development zones day care credit. (a) In this subsection:
AB150-engrossed,1160,42
1. "Day care center benefits" means benefits provided at a day care facility that
3is licensed under s. 48.65 or 48.69 and that for compensation provides care for at least
46 children.
AB150-engrossed,1160,85
2. "Employment-related day care expenses" means amounts paid or incurred
6by a claimant for providing or making day care center benefits available to a
7qualifying individual in order to enable a member of a targeted group to be employed
8by the claimant.
AB150-engrossed,1160,99
4. "Member of a targeted group" means a person under sub. (1dj) (am) 1.
AB150-engrossed,1160,1710
5. "Qualifying individual" means a dependent of a member of a targeted group
11who is employed by a claimant and with respect to whom the member is entitled to
12a deduction under section
151 (c) of the internal revenue code for federal income tax
13purposes, a dependent of a member of a targeted group who is employed by a
14claimant if the dependent is physically or mentally incapable of caring for himself
15or herself or the spouse of a member of a targeted group who is employed by the
16claimant if the spouse is physically or mentally incapable of caring for himself or
17herself.
AB150-engrossed,1160,2518
(b) Except as provided in s. 73.03 (35), for any taxable year for which that
19person is certified under s. 560.765 (3) and begins business operations in a zone
20under s. 560.71 after the effective date of this paragraph .... [revisor inserts date],
21entitled under s. 560.795 (3) (a) and begins business operations in a zone under s.
22560.795 after the effective date of this paragraph .... [revisor inserts date], or certified
23under s. 560.797 (4) (a), for each zone for which the person is certified or entitled a
24person may credit against taxes otherwise due under this subchapter
25employment-related day care expenses, up to $1,200 for each qualifying individual.
AB150-engrossed,1161,2
1(c) Subsection (1di) (b), (c), (d) 1., (f) and (g), as it applies to the credit under sub.
2(1di), applies to the credit under this subsection.
AB150-engrossed,1161,43
(d) Subsection (4) (g) and (h), as it applies to the credit under sub. (4), applies
4to the credit under this subsection.
AB150-engrossed,1161,75
(dm) No credit may be allowed under this subsection unless the claimant
6includes with the claimant's return a statement from the department of development
7verifying the amount of qualifying employment-related day care expenses.
AB150-engrossed,1161,138
(e) The credit under this subsection, as it applies to a person certified under s.
9560.765 (3), applies to a corporation that conducts economic activity in a zone under
10s. 560.795 (1) and that is entitled to tax benefits under s. 560.795 (3), subject to the
11limits under s. 560.795 (2). A credit under this subsection may be credited using
12expenses incurred by a claimant on the effective date of this paragraph .... [revisor
13inserts date].
AB150-engrossed,1162,215
71.28
(1de) Development zones environmental remediation credit. (a)
16Except as provided in s. 73.03 (35), for any taxable year for which a person is certified
17under s. 560.765 (3) and begins business operations in a zone under s. 560.71 after
18the effective date of this paragraph .... [revisor inserts date], entitled under s.
19560.795 (3) (a) and begins business operations in a zone under s. 560.795 after the
20effective date of this paragraph .... [revisor inserts date], or certified under s. 560.797
21(4) (a), for each zone for which the person is certified or entitled the person may claim
22as a credit against taxes otherwise due under this subchapter an amount equal to
237.5% of the amount that the person expends to remove or contain environmental
24pollution, as defined in s. 144.01 (3), in the zone or to restore soil or groundwater that
1is affected by environmental pollution, as defined in s. 144.01 (3), in the zone if the
2person fulfills all of the following requirements:
AB150-engrossed,1162,83
1. Begins the work, other than planning and investigating, for which the credit
4is claimed after the area that includes the site where the work is done is designated
5a development zone under s. 560.71, a development opportunity zone under s.
6560.795 or an enterprise development zone under s. 560.797 and after the claimant
7is certified under s. 560.765 (3), entitled under s. 560.795 (3) (a) or certified under s.
8560.797 (4) (a).
AB150-engrossed,1162,109
(b) Subsection (1di) (b), (c), (d), (f) and (g), as it applies to the credit under sub.
10(1di), applies to the credit under this subsection.
AB150-engrossed,1162,1211
(c) Subsection (4) (g) and (h), as it applies to the credit under sub. (4), applies
12to the credit under this subsection.
AB150-engrossed,1162,1813
(d) The credit under this subsection, as it applies to a person certified under s.
14560.765 (3), applies to a corporation that conducts economic activity in a zone under
15s. 560.795 (1) and that is entitled to tax benefits under s. 560.795 (3), subject to the
16limits under s. 560.795 (2). A credit under this subsection may be credited using
17expenses incurred by a claimant on the effective date of this paragraph .... [revisor
18inserts date].