AB100: Bill Text Engrossed

AB100-engrossed, s. 2261ee Section 2261ee. 71.06 (1m) of the statutes is created to read:

AB100-engrossed,1086,7 71.06 (1m) Fiduciaries, single individuals and heads of households; after 1997. The tax to be assessed, levied and collected upon the taxable incomes of all fiduciaries, except fiduciaries of nuclear decommissioning trust or reserve funds, and single individuals and heads of households shall be computed at the following rates:

AB100-engrossed,1086,9 (a) For taxable years beginning after December 31, 1997, and before January 1, 1999:

AB100-engrossed,1086,10 1. On all taxable income from $0 to $7,500, 4.85%.

AB100-engrossed,1086,11 2. On all taxable income exceeding $7,500 but not exceeding $15,000, 6.48%.

AB100-engrossed,1086,12 3. On all taxable income exceeding $15,000, 6.87%.

AB100-engrossed,1086,14 (b) For taxable years beginning after December 31, 1998, and before January 1, 2000:

AB100-engrossed,1086,15 1. On all taxable income from $0 to $7,500, 4.80%.

AB100-engrossed,1086,16 2. On all taxable income exceeding $7,500 but not exceeding $15,000, 6.42%.

AB100-engrossed,1086,17 3. On all taxable income exceeding $15,000, 6.79%.

AB100-engrossed,1086,19 (c) For taxable years beginning after December 31, 1999, and before January 1, 2001:

AB100-engrossed,1086,20 1. On all taxable income from $0 to $7,500, 4.75%.

AB100-engrossed,1086,21 2. On all taxable income exceeding $7,500 but not exceeding $15,000, 6.35%.

AB100-engrossed,1086,22 3. On all taxable income exceeding $15,000, 6.72%.

AB100-engrossed,1086,24 (d) For taxable years beginning after December 31, 2000, and before January 1, 2002:

AB100-engrossed,1086,25 1. On all taxable income from $0 to $7,500, 4.70%.

AB100-engrossed,1087,1 2. On all taxable income exceeding $7,500 but not exceeding $15,000, 6.29%.

AB100-engrossed,1087,2 3. On all taxable income exceeding $15,000, 6.65%.

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: