Amendment SA1-SA1-SSA1-AB133

AB133-SSA1-SA1-SA1,3,9 3. On all taxable income exceeding $10,000, 6.5%.

AB133-SSA1-SA1-SA1, s. 8 Section 8. 71.06 (2) (g) of the statutes is created to read:

AB133-SSA1-SA1-SA1,3,12 71.06 (2) (g) For joint returns, for taxable years beginning after December 31, 1999:

AB133-SSA1-SA1-SA1,3,13 1. On all taxable income from $0 to $20,770, 4.77%.

AB133-SSA1-SA1-SA1,3,14 2. On all taxable income exceeding $20,77, 6.5%.

AB133-SSA1-SA1-SA1, s. 9 Section 9. 71.06 (2) (h) of the statutes is created to read:

AB133-SSA1-SA1-SA1,3,17 71.06 (2) (h) For married persons filing separately, for taxable years beginning after December 31, 1999:

AB133-SSA1-SA1-SA1,3,18 1. On all taxable income from $0 to $10,380, 4.77%.

AB133-SSA1-SA1-SA1,3,19 2. On all taxable income exceeding $10,380, 6.5%.

AB133-SSA1-SA1-SA1, s. 10 Section 10. 71.06 (2e) of the statutes is amended to read:

AB133-SSA1-SA1-SA1,4,12 71.06 (2e) Bracket indexing. For taxable years beginning after December 31, 1998, and before January 1, 2000, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1m) and (1n) and (2) (c) L (d), (e) and (f), and for taxable years beginning after December 31, 1999, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1p) and (2) (g) and (h), shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the year before the previous year 1997, as determined by the federal department of labor. Each amount that is revised under this subsection shall be rounded to the nearest multiple of $10 if the revised amount is not a multiple of $10 or, if the revised amount is a multiple of $5, such an amount shall be increased to the next higher multiple of $10. The department of revenue shall annually adjust the changes in dollar amounts required under this subsection and incorporate the changes into the income tax forms and instructions.

AB133-SSA1-SA1-SA1, s. 11 Section 11. 71.06 (2m) of the statutes is amended to read:

AB133-SSA1-SA1-SA1,4,17 71.06 (2m) Rate changes. If a rate under sub. (1), (1m), (1n), (1p) 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.

AB133-SSA1-SA1-SA1, s. 12 Section 12. 71.06 (2s) (b) of the statutes is amended to read:

AB133-SSA1-SA1-SA1,5,6 71.06 (2s) (b) For taxable years beginning after December 31, 1997, and before January 1, 1999, 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.

AB133-SSA1-SA1-SA1, s. 13 Section 13. 71.06 (2s) (c) of the statutes is created to read:

AB133-SSA1-SA1-SA1,5,20 71.06 (2s) (c) For taxable years beginning after December 31, 1998, and before January 1, 2000, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1n) and (2) (e) and (f) 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. (1n) and (2) (e) and (f) 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.

AB133-SSA1-SA1-SA1, s. 14 Section 14. 71.06 (2s) (d) of the statutes is created to read:

AB133-SSA1-SA1-SA1,6,9 71.06 (2s) (d) For taxable years beginning after December 31, 1999, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1p) and (2) (g) and (h) 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. (1p) and (2) (g) and (h) 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.".

AB133-SSA1-SA1-SA1,6,11 2. Page 201, line 7: delete the material beginning with that line and ending with page 202, line 23 and substitute:

AB133-SSA1-SA1-SA1,6,12 " Section 1716p. 71.07 (9) (b) 1. of the statutes is amended to read:

AB133-SSA1-SA1-SA1,6,18 71.07 (9) (b) 1. Subject For taxable years beginning before January 1, 1998, subject to the limitations under this subsection and except as provided in subd. 2., a claimant may claim as a credit against, but not to exceed the amount of, taxes under s. 71.02, 10% of the first $2,000 of property taxes or rent constituting property taxes, or 10% of the first $1,000 of property taxes or rent constituting property taxes of a married person filing separately.

AB133-SSA1-SA1-SA1, s. 1716r Section 1716r. 71.07 (9) (b) 3. of the statutes is created to read:

AB133-SSA1-SA1-SA1,7,2 71.07 (9) (b) 3. For taxable years beginning after December 31, 1998, subject to the limitations under this subsection, a claimant may claim as a credit against, but not to exceed the amount of, taxes under s. 71.02, 12% of the first $2,500 of property taxes or rent constituting property taxes, or 12% of the first $1,250 of property taxes or rent constituting property taxes of a married person filing separately.".

AB133-SSA1-SA1-SA1,7,3 3. Page 203, line 13: delete lines 13 to 15.

AB133-SSA1-SA1-SA1,7,4 4. Page 209, line 3: delete lines 3 to 19.

AB133-SSA1-SA1-SA1,7,5 5. Page 209, line 22: delete lines 22 and 23.

AB133-SSA1-SA1-SA1,7,6 6. Page 947, line 4: delete "shall" and substitute "may not".

AB133-SSA1-SA1-SA1,7,8 7. Page 947, line 7: delete "on July 1, 2000" and substitute "before July 1, 2001".

AB133-SSA1-SA1-SA1,7,9 (End)