AB100: Bill Text Engrossed

AB100-engrossed,1087,3 (e) For taxable years beginning after December 31, 2001:

AB100-engrossed,1087,4 1. On all taxable income from $0 to $7,500, 4.66%.

AB100-engrossed,1087,5 2. On all taxable income exceeding $7,500 but not exceeding $15,000, 6.22%.

AB100-engrossed,1087,6 3. On all taxable income exceeding $15,000, 6.58%.

AB100-engrossed, s. 2261eg Section 2261eg. 71.06 (2) (intro.) of the statutes is amended to read:

AB100-engrossed,1087,11 71.06 (2) Married persons. (intro.) The tax to be assessed, levied and collected upon the taxable incomes of all married persons for calendar year 1987 and corresponding fiscal years and for calendar and fiscal years thereafter shall be computed at the following rates:

AB100-engrossed, s. 2261ei Section 2261ei. 71.06 (2) (a) (intro.) of the statutes is amended to read:

AB100-engrossed,1087,14 71.06 (2) (a) (intro.) For joint returns, for taxable years beginning after July 31, 1986, and before January 1, 1998:

AB100-engrossed, s. 2261ek Section 2261ek. 71.06 (2) (b) (intro.) of the statutes is amended to read:

AB100-engrossed,1087,17 71.06 (2) (b) (intro.) For married persons filing separately, for taxable years beginning after July 31, 1986, and before January 1, 1998:

AB100-engrossed, s. 2261eL Section 2261eL. 71.06 (2) (c) of the statutes is created to read:

AB100-engrossed,1087,19 71.06 (2) (c) For joint returns:

AB100-engrossed,1087,21 1. For taxable years beginning after December 31, 1997, and before January 1, 1999:

AB100-engrossed,1087,22 a. On all taxable income from $0 to $10,000, 4.85%.

AB100-engrossed,1087,23 b. On all taxable income exceeding $10,000 but not exceeding $20,000, 6.48%.

AB100-engrossed,1087,24 c. On all taxable income exceeding $20,000, 6.87%.

AB100-engrossed,1088,2 2. For taxable years beginning after December 31, 1998, and before January 1, 2000:

AB100-engrossed,1088,3 a. On all taxable income from $0 to $10,000, 4.80%.

AB100-engrossed,1088,4 b. On all taxable income exceeding $10,000 but not exceeding $20,000, 6.42%.

AB100-engrossed,1088,5 c. On all taxable income exceeding $20,000, 6.79%.

AB100-engrossed,1088,7 3. For taxable years beginning after December 31, 1999, and before January 1, 2001:

AB100-engrossed,1088,8 a. On all taxable income from $0 to $10,000, 4.75%.

AB100-engrossed,1088,9 b. On all taxable income exceeding $10,000 but not exceeding $20,000, 6.35%.

AB100-engrossed,1088,10 c. On all taxable income exceeding $20,000, 6.72%.

AB100-engrossed,1088,12 4. For taxable years beginning after December 31, 2000, and before January 1, 2002:

AB100-engrossed,1088,13 a. On all taxable income from $0 to $10,000, 4.70%.

AB100-engrossed,1088,14 b. On all taxable income exceeding $10,000 but not exceeding $20,000, 6.29%.

AB100-engrossed,1088,15 c. On all taxable income exceeding $20,000, 6.65%.

AB100-engrossed,1088,16 5. For taxable years beginning after December 31, 2001:

AB100-engrossed,1088,17 a. On all taxable income from $0 to $10,000, 4.66%.

AB100-engrossed,1088,18 b. On all taxable income exceeding $10,000 but not exceeding $20,000, 6.22%.

AB100-engrossed,1088,19 c. On all taxable income exceeding $20,000, 6.58%.

AB100-engrossed, s. 2261em Section 2261em. 71.06 (2) (d) of the statutes is created to read:

AB100-engrossed,1088,21 71.06 (2) (d) For married persons filing separately:

AB100-engrossed,1088,23 1. For taxable years beginning after December 31, 1997, and before January 1, 1999:

AB100-engrossed,1088,24 a. On all taxable income from $0 to $5,000, 4.85%.

AB100-engrossed,1088,25 b. On all taxable income exceeding $5,000 but not exceeding $10,000, 6.48%.

AB100-engrossed,1089,1 c. On all taxable income exceeding $10,000, 6.87%.

AB100-engrossed,1089,3 2. For taxable years beginning after December 31, 1998, and before January 1, 2000:

AB100-engrossed,1089,4 a. On all taxable income from $0 to $5,000, 4.80%.

AB100-engrossed,1089,5 b. On all taxable income exceeding $5,000 but not exceeding $10,000, 6.42%.

AB100-engrossed,1089,6 c. On all taxable income exceeding $10,000, 6.79%.

AB100-engrossed,1089,8 3. For taxable years beginning after December 31, 1999, and before January 1, 2001:

AB100-engrossed,1089,9 a. On all taxable income from $0 to $5,000, 4.75%.

AB100-engrossed,1089,10 b. On all taxable income exceeding $5,000 but not exceeding $10,000, 6.35%.

AB100-engrossed,1089,11 c. On all taxable income exceeding $10,000, 6.72%.

AB100-engrossed,1089,13 4. For taxable years beginning after December 31, 2000, and before January 1, 2002:

AB100-engrossed,1089,14 a. On all taxable income from $0 to $5,000, 4.70%.

AB100-engrossed,1089,15 b. On all taxable income exceeding $5,000 but not exceeding $10,000, 6.29%.

AB100-engrossed,1089,16 c. On all taxable income exceeding $10,000, 6.65%.

AB100-engrossed,1089,17 5. For taxable years beginning after December 31, 2001:

AB100-engrossed,1089,18 a. On all taxable income from $0 to $5,000, 4.66%.

AB100-engrossed,1089,19 b. On all taxable income exceeding $5,000 but not exceeding $10,000, 6.22%.

AB100-engrossed,1089,20 c. On all taxable income exceeding $10,000, 6.58%.

AB100-engrossed, s. 2261eo Section 2261eo. 71.06 (2m) of the statutes is amended to read:

AB100-engrossed,1089,25 71.06 (2m) Rate changes. If a rate under sub. (1), (1m) or (2) changes during a taxable year, the taxpayer shall compute the tax for that taxable year by the methods applicable to the federal income tax under section 15 of the internal revenue code.

AB100-engrossed, s. 2261f Section 2261f. 71.06 (2s) of the statutes is created to read:

AB100-engrossed,1090,14 71.06 (2s) Nonresidents and part-year residents. For taxable years beginning after December 31, 1996, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1) and (2) shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income and the denominator of which is federal adjusted gross income. In this subsection, for married persons filing separately "adjusted gross income" means the separate adjusted gross income of each spouse, and for married persons filing jointly "adjusted gross income" means the total adjusted gross income of both spouses. If an individual and that individual's spouse are not both domiciled in this state during the entire taxable year, the tax brackets under subs. (1) and (2) on a joint return shall be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.

AB100-engrossed, s. 2261fm Section 2261fm. 71.06 (2s) of the statutes, as created by 1997 Wisconsin Act .... (this act), is renumbered 71.06 (2s) (a) and amended to read:

AB100-engrossed,1091,4 71.06 (2s) (a) For taxable years beginning after December 31, 1996, and ending before January 1, 1998, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1) and (2) shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income and the denominator of which is federal adjusted gross income. In this subsection paragraph, for married persons filing separately "adjusted gross income" means the separate adjusted gross income of each spouse, and for married persons filing jointly "adjusted gross income" means the total adjusted gross income of both spouses. If an individual and that individual's spouse are not both domiciled in this state during the entire taxable year, the tax brackets under subs. (1) and (2) on a joint return shall be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.

AB100-engrossed, s. 2261fn Section 2261fn. 71.06 (2s) (b) of the statutes is created to read:

AB100-engrossed,1091,18 71.06 (2s) (b) For taxable years beginning after December 31, 1997, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1m) and (2) (c) and (d) shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income and the denominator of which is federal adjusted gross income. In this paragraph, for married persons filing separately "adjusted gross income" means the separate adjusted gross income of each spouse, and for married persons filing jointly "adjusted gross income" means the total adjusted gross income of both spouses. If an individual and that individual's spouse are not both domiciled in this state during the entire taxable year, the tax brackets under subs. (1m) and (2) (c) and (d) on a joint return shall be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.

AB100-engrossed, s. 2261h Section 2261h. 71.07 (2dd) (e) of the statutes is created to read:

AB100-engrossed,1091,23 71.07 (2dd) (e) No credit may be claimed under this subsection for taxable years that begin on January 1, 1998, or thereafter. Credits under this subsection for taxable years that begin before January 1, 1998, may be carried forward to taxable years that begin on January 1, 1998, or thereafter.

AB100-engrossed, s. 2261j Section 2261j. 71.07 (2de) (d) of the statutes is created to read:

AB100-engrossed,1092,4 71.07 (2de) (d) No credit may be claimed under this subsection for taxable years that begin on January 1, 1998, or thereafter. Credits under this subsection for taxable years that begin before January 1, 1998, may be carried forward to taxable years that begin on January 1, 1998, or thereafter.

AB100-engrossed, s. 2261k Section 2261k. 71.07 (2di) (i) of the statutes is created to read:

AB100-engrossed,1092,9 71.07 (2di) (i) No credit may be claimed under this subsection for taxable years that begin on January 1, 1998, or thereafter. Credits under this subsection for taxable years that begin before January 1, 1998, may be carried forward to taxable years that begin on January 1, 1998, or thereafter.

AB100-engrossed, s. 2261m Section 2261m. 71.07 (2dj) (i) of the statutes is created to read:

AB100-engrossed,1092,14 71.07 (2dj) (i) No credit may be claimed under this subsection for taxable years that begin on January 1, 1998, or thereafter. Credits under this subsection for taxable years that begin before January 1, 1998, may be carried forward to taxable years that begin on January 1, 1998, or thereafter.

AB100-engrossed, s. 2261p Section 2261p. 71.07 (2dL) (h) of the statutes is created to read:

AB100-engrossed,1092,19 71.07 (2dL) (h) No credit may be claimed under this subsection for taxable years that begin on January 1, 1998, or thereafter. Credits under this subsection for taxable years that begin before January 1, 1998, may be carried forward to taxable years that begin on January 1, 1998, or thereafter.

AB100-engrossed, s. 2261q Section 2261q. 71.07 (2dr) (a) of the statutes is amended to read:

AB100-engrossed,1093,18 71.07 (2dr) (a) Credit. Any person may credit against taxes otherwise due under this chapter an amount equal to 5% of the amount obtained by subtracting from the person's qualified research expenses, as defined in section 41 of the internal revenue code, except that "qualified research expenses" include only expenses incurred by the claimant in a development zone under subch. VI of ch. 560, except that a taxpayer may elect the alternative computation under section 41 (c) (4) of the Internal Revenue Code and that election applies until the department permits its revocation and except that "qualified research expenses" do not include compensation used in computing the credit under sub. (2dj) nor research expenses incurred before the claimant is certified for tax benefits under s. 560.765 (3), the person's base amount, as defined in section 41 (c) of the internal revenue code, in a development zone, except that gross receipts used in calculating the base amount means gross receipts from sales attributable to Wisconsin under s. 71.04 (7) (b) 1. and 2. and (d) and research expenses used in calculating the base amount include research expenses incurred before the claimant is certified for tax benefits under s. 560.765 (3), in a development zone, if the claimant submits with the claimant's return a copy of the claimant's certification for tax benefits under s. 560.765 (3) and a statement from the department of commerce verifying the claimant's qualified research expenses for research conducted exclusively in a development zone. The rules under s. 73.03 (35) apply to the credit under this paragraph. The rules under sub. (2di) (f) and (g), as they apply to the credit under that subsection, apply to claims under this paragraph. Section 41 (h) of the internal revenue code does not apply to the credit under this paragraph.

AB100-engrossed, s. 2261t Section 2261t. 71.07 (2dr) (i) of the statutes is created to read:

AB100-engrossed,1093,23 71.07 (2dr) (i) Sunset. No credit may be claimed under this subsection for taxable years that begin on January 1, 1998, or thereafter. Credits under this subsection for taxable years that begin before January 1, 1998, may be carried forward to taxable years that begin on January 1, 1998, or thereafter.

AB100-engrossed, s. 2261v Section 2261v. 71.07 (2ds) (i) of the statutes is created to read:

AB100-engrossed,1094,4 71.07 (2ds) (i) No credit may be claimed under this subsection for taxable years that begin on January 1, 1998, or thereafter. Credits under this subsection for taxable years that begin before January 1, 1998, may be carried forward to taxable years that begin on January 1, 1998, or thereafter.

AB100-engrossed, s. 2262 Section 2262. 71.07 (2dx) of the statutes is created to read:

AB100-engrossed,1094,6 71.07 (2dx) Development zones credit. (a) Definitions. In this subsection:

AB100-engrossed,1094,8 1. "Brownfield" means an industrial or commercial facility the expansion or redevelopment of which is complicated by environmental contamination.

AB100-engrossed,1094,11 2. "Development zone" means a development zone under s. 560.70, a development opportunity zone under s. 560.795 or an enterprise development zone under s. 560.797.

AB100-engrossed,1094,17 3. "Environmental remediation" means removal or containment of environmental pollution, as defined in s. 299.01 (4), and restoration of soil or groundwater that is affected by environmental pollution, as defined in s. 299.01 (4), in a brownfield if that removal, containment or restoration fulfills the requirement under sub. (2de) (a) 1. and investigation unless the investigation determines that remediation is required and that remediation is not undertaken.

AB100-engrossed,1094,23 4. "Full-time job" means a regular, nonseasonal full-time position in which an individual, as a condition of employment, is required to work at least 2,080 hours per year, including paid leave and holidays, and for which the individual receives pay that is equal to at least 150% of the federal minimum wage and receives benefits that are not required by federal or state law. "Full-time job" does not include initial training before an employment position begins.

AB100-engrossed,1095,7 5. "Member of a targeted group" means a person under sub. (2dj) (am) 1., a person who resides in an empowerment zone, or an enterprise community, that the U.S. government designates, a person who is employed in an unsubsidized job but meets the eligibility requirements under s. 49.145 (2) and (3) for a Wisconsin works employment position, a person who is employed in a trial job, as defined in s. 49.141 (1) (n), a person who is eligible for the Wisconsin works health plan under s. 49.153 or a person who is eligible for child care assistance under s. 49.155; if the person has been certified in the manner under sub. (2dj) (am) 3. by a designated local agency, as defined in sub. (2dj) (am) 2.

AB100-engrossed,1095,10 (b) Credit. Except as provided in s. 73.03 (35) and subject to s. 560.785, for any taxable year for which the person is certified under s. 560.765 (3), any person may claim as a credit against taxes the following amounts:

AB100-engrossed,1095,12 1. Fifty percent of the amount expended for environmental remediation in a development zone.

AB100-engrossed,1095,16 2. The amount determined by multiplying the amount determined under s. 560.785 (1) (b) by the number of full-time jobs created in a development zone and filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

AB100-engrossed,1095,20 3. The amount determined by multiplying the amount determined under s. 560.785 (1) (c) by the number of full-time jobs created in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.