Amendment SSA1-AB133

AB133-SSA1,842,13 (a) On all taxable income from $0 to $7,500, 4.73%.

AB133-SSA1,842,14 (b) On all taxable income exceeding $7,500 but not exceeding $15,000, 6.33%.

AB133-SSA1,842,15 (c) On all taxable income exceeding $15,000 but not exceeding $112,500, 6.55%.

AB133-SSA1,842,16 (d) On all taxable income exceeding $112,500, 6.75%.

AB133-SSA1, s. 1696 Section 1696. 71.06 (1p) of the statutes is created to read:

AB133-SSA1,842,22 71.06 (1p) Fiduciaries, single individuals and heads of households; after 2000. 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 for taxable years beginning after December 31, 2000:

AB133-SSA1,842,23 (a) On all taxable income from $0 to $7,500, 4.6%.

AB133-SSA1,842,24 (b) On all taxable income exceeding $7,500 but not exceeding $15,000, 6.15%.

AB133-SSA1,842,25 (c) On all taxable income exceeding $15,000 but not exceeding $112,500, 6.5%.

AB133-SSA1,843,1 (d) On all taxable income exceeding $112,500, 6.75%.

AB133-SSA1, s. 1697 Section 1697. 71.06 (2) (c) (intro.) of the statutes is amended to read:

AB133-SSA1,843,4 71.06 (2) (c) (intro.) For joint returns, for taxable years beginning after December 31, 1997, and before January 1, 2000:

AB133-SSA1, s. 1698 Section 1698. 71.06 (2) (d) (intro.) of the statutes is amended to read:

AB133-SSA1,843,7 71.06 (2) (d) (intro.) For married persons filing separately, for taxable years beginning after December 31, 1997, and before January 1, 2000:

AB133-SSA1, s. 1699 Section 1699. 71.06 (2) (e) of the statutes is created to read:

AB133-SSA1,843,10 71.06 (2) (e) For joint returns, for taxable years beginning after December 31, 1999, and before January 1, 2001:

AB133-SSA1,843,11 1. On all taxable income from $0 to $10,000, 4.73%.

AB133-SSA1,843,12 2. On all taxable income exceeding $10,000 but not exceeding $20,000, 6.33%.

AB133-SSA1,843,13 3. On all taxable income exceeding $20,000 but not exceeding $150,000, 6.55%.

AB133-SSA1,843,14 4. On all taxable income exceeding $150,000, 6.75%.

AB133-SSA1, s. 1700 Section 1700. 71.06 (2) (f) of the statutes is created to read:

AB133-SSA1,843,17 71.06 (2) (f) For married persons filing separately, for taxable years beginning after December 31, 1999, and before January 1, 2001:

AB133-SSA1,843,18 1. On all taxable income from $0 to $5,000, 4.73%.

AB133-SSA1,843,19 2. On all taxable income exceeding $5,000 but not exceeding $10,000, 6.33%.

AB133-SSA1,843,20 3. On all taxable income exceeding $10,000 but not exceeding $75,000, 6.55%.

AB133-SSA1,843,21 4. On all taxable income exceeding $75,000, 6.75%.

AB133-SSA1, s. 1701 Section 1701. 71.06 (2) (g) of the statutes is created to read:

AB133-SSA1,843,24 71.06 (2) (g) For joint returns, for taxable years beginning after December 31, 2000:

AB133-SSA1,843,25 1. On all taxable income from $0 to $10,000, 4.6%.

AB133-SSA1,844,1 2. On all taxable income exceeding $10,000 but not exceeding $20,000, 6.15%.

AB133-SSA1,844,2 3. On all taxable income exceeding $20,000 but not exceeding $150,000, 6.5%.

AB133-SSA1,844,3 4. On all taxable income exceeding $150,000, 6.75%.

AB133-SSA1, s. 1702 Section 1702. 71.06 (2) (h) of the statutes is created to read:

AB133-SSA1,844,6 71.06 (2) (h) For married persons filing separately, for taxable years beginning after December 31, 2000:

AB133-SSA1,844,7 1. On all taxable income from $0 to $5,000, 4.6%.

AB133-SSA1,844,8 2. On all taxable income exceeding $5,000 but not exceeding $10,000, 6.15%.

AB133-SSA1,844,9 3. On all taxable income exceeding $10,000 but not exceeding $75,000, 6.5%.

AB133-SSA1,844,10 4. On all taxable income exceeding $75,000, 6.75%.

AB133-SSA1, s. 1703 Section 1703. 71.06 (2e) of the statutes is amended to read:

AB133-SSA1,845,9 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 (2) (c) and (d), 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. (1n), (1p) and (2) (e), (f), (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, except that for taxable years beginning after December 31, 2000, the dollar amount in the top bracket under subs. (1p) (c) and (d), (2) (g) 3. and 4. and (h) 3. and 4. 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 1999, 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, s. 1704 Section 1704. 71.06 (2m) of the statutes is amended to read:

AB133-SSA1,845,14 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, s. 1705 Section 1705. 71.06 (2s) (b) of the statutes is amended to read:

AB133-SSA1,846,3 71.06 (2s) (b) For taxable years beginning after December 31, 1997, 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. (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, s. 1706 Section 1706. 71.06 (2s) (c) of the statutes is created to read:

AB133-SSA1,846,17 71.06 (2s) (c) For taxable years beginning after December 31, 1999, and before January 1, 2001, 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, s. 1707 Section 1707. 71.06 (2s) (d) of the statutes is created to read:

AB133-SSA1,847,6 71.06 (2s) (d) For taxable years beginning after December 31, 2000, 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, s. 1707t Section 1707t. 71.07 (2dj) (am) 1. of the statutes is amended to read:

AB133-SSA1,847,12 71.07 (2dj) (am) 1. Modify "member of a targeted group", as defined in section 51 (d) of the internal revenue code as amended to December 31, 1995, to include persons unemployed as a result of a business action subject to s. 109.07 (1m) and persons specified under 29 USC 1651 (a) dislocated workers, as defined in 29 USC 2801 (9), and to require a member of a targeted group to be a resident of this state.

AB133-SSA1, s. 1707v Section 1707v. 71.07 (2dj) (am) 2. of the statutes is amended to read:

AB133-SSA1,847,19 71.07 (2dj) (am) 2. Modify "designated local agency", as defined in section 51 (d) (15) of the internal revenue code, to include the job training partnership act organization local workforce development board established under 29 USC 2832 for the area that includes the development zone in which the employe in respect to whom the credit under this subsection is claimed works, if the department of commerce approves the criteria used for certification, and the department of commerce.

AB133-SSA1, s. 1708 Section 1708. 71.07 (2dj) (am) 3. of the statutes is amended to read:

AB133-SSA1,847,23 71.07 (2dj) (am) 3. Modify the rule for certification under section 51 (d) (16) (A) of the internal revenue code to allow certification within the 90-day period beginning with the first day of employment of the employe by the claimant.

AB133-SSA1, s. 1708g Section 1708g. 71.07 (2dx) (b) (intro.) of the statutes is amended to read:

AB133-SSA1,848,4 71.07 (2dx) (b) Credit. (intro.) 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 imposed on the person's income from the person's business activities in a development zone the following amounts:

AB133-SSA1, s. 1709 Section 1709. 71.07 (2dx) (b) 4. of the statutes is amended to read:

AB133-SSA1,848,11 71.07 (2dx) (b) 4. The amount determined by multiplying the amount determined under s. 560.785 (1) (b) (bm) by the number of full-time jobs retained, as provided in the rules under s. 560.785, excluding jobs for which a credit has been claimed under sub. (2dj), in a an enterprise development zone under s. 560.797 and filled by a member of a targeted group for which significant capital investment was made and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

AB133-SSA1, s. 1709c Section 1709c. 71.07 (2dy) of the statutes is created to read:

AB133-SSA1,848,14 71.07 (2dy) Sustainable urban development zone credit. (a) Definitions. In this subsection:

AB133-SSA1,848,15 1. "Brownfield" has the meaning given in sub. (2dx) (a) 1.

AB133-SSA1,848,20 2. "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 and investigation unless the investigation determines that remediation is required but remediation is not undertaken.

AB133-SSA1,848,24 (b) Credit. For any taxable year for which the person is certified under s. 292.77 (5), a person may claim as a credit against taxes imposed under this subchapter 50% of the amount expended for environmental remediation under the program under s. 292.77.

AB133-SSA1,849,2 (c) Administration. Subsection (2dx) (c), (d) and (e), as it applies to the credit under sub. (2dx), applies to the credit under this subsection.

AB133-SSA1, s. 1710d Section 1710d. 71.07 (3m) (a) 1. b. of the statutes is amended to read:

AB133-SSA1,849,7 71.07 (3m) (a) 1. b. For partnerships except publicly traded partnerships treated as corporations under s. 71.22 (1) (1g), or limited liability companies, except limited liability companies treated as corporations under s. 71.22 (1) (1g), "claimant" means each individual partner or member.

AB133-SSA1, s. 1711 Section 1711. 71.07 (5) (a) 7. of the statutes is created to read:

AB133-SSA1,849,13 71.07 (5) (a) 7. Miscellaneous itemized deductions under the Internal Revenue Code, without regard to whether such deductions are subject to the 2% floor as described in section 67 of the Internal Revenue Code, except that the general prohibition in this subdivision does not apply to dues paid to a professional society or a labor union.

AB133-SSA1, s. 1712 Section 1712. 71.07 (5) (a) 8. of the statutes is created to read:

AB133-SSA1,849,17 71.07 (5) (a) 8. Any employment-related educational expense that is claimed as an itemized deduction under the Internal Revenue Code to the extent that such an amount is also claimed as a subtract modification under s. 71.05 (6) (b) 28.

AB133-SSA1, s. 1713 Section 1713. 71.07 (5m) (e) of the statutes is created to read:

AB133-SSA1,849,20 71.07 (5m) (e) Sunset. No new claim may be filed under this subsection for a taxable year that begins after December 31, 1999.

AB133-SSA1, s. 1714 Section 1714. 71.07 (6) (am) 2. c. of the statutes is amended to read:

AB133-SSA1,849,24 71.07 (6) (am) 2. c. For taxable years beginning after December 31, 1999, and before January 1, 2001, 2.75% of the earned income of the spouse with the lower earned income, but not more than $385 $440.

AB133-SSA1, s. 1715 Section 1715. 71.07 (6) (am) 2. d. of the statutes is amended to read:

AB133-SSA1,850,3 71.07 (6) (am) 2. d. For taxable years beginning after December 31, 2000, 3% of the earned income of the spouse with the lower earned income, but not more than $420 $480.

AB133-SSA1, s. 1716 Section 1716. 71.07 (8) (d) of the statutes is created to read:

AB133-SSA1,850,6 71.07 (8) (d) No new claim may be filed under this subsection for a taxable year that begins after December 31, 1999.

AB133-SSA1, s. 1717 Section 1717. 71.07 (9) (g) of the statutes is created to read:

AB133-SSA1,850,9 71.07 (9) (g) No new claim may be filed under this subsection for a taxable year that begins after December 31, 1999.

AB133-SSA1, s. 1719b Section 1719b. 71.07 (9e) (f) of the statutes is amended to read:

AB133-SSA1,850,16 71.07 (9e) (f) Except as provided in s. 71.80 (3) and (3m), if the allowable amount of the claim under this subsection exceeds the taxes otherwise due under this chapter or no taxes are due under this chapter, the amount of the claim not used to offset taxes due shall be certified by the department of revenue to the department of administration for payment by check, share draft or other draft drawn from the appropriation under s. 20.835 (2) (f) or (kf).

AB133-SSA1, s. 1719d Section 1719d. 71.07 (10) of the statutes is amended to read:

AB133-SSA1,850,22 71.07 (10) Credits not allowed. The credits under s. 71.28 (4) and (5) may not be claimed by partners, including partners of a publicly traded partnership treated as a corporation under s. 71.22 (1) (1g), members of a limited liability company, including members of a limited liability company treated as a corporation under s. 77.22 (1) (1g), or shareholders of a tax-option corporation.

AB133-SSA1, s. 1719g Section 1719g. 71.08 (1) (intro.) of the statutes is amended to read:

AB133-SSA1,851,7 71.08 (1) Imposition. (intro.) If the tax imposed on a natural person, married couple filing jointly, trust or estate under s. 71.02, not considering the credits under ss. 71.07 (1), (2dd), (2de), (2di), (2dj), (2dL), (2dr), (2ds), (2dx), (2dy), (2fd), (3m), (3s), (6) and (9e), 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1dy), (1fd), (2m) and (3) and 71.47 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1dy), (1fd), (2m) and (3) and subchs. VIII and IX and payments to other states under s. 71.07 (7), is less than the tax under this section, there is imposed on that natural person, married couple filing jointly, trust or estate, instead of the tax under s. 71.02, an alternative minimum tax computed as follows:

AB133-SSA1, s. 1719m Section 1719m. 71.10 (4) (gv) of the statutes is created to read:

AB133-SSA1,851,9 71.10 (4) (gv) Sustainable urban development zone credit under s. 71.07 (2dy).

AB133-SSA1, s. 1720m Section 1720m. 71.10 (5) (am) of the statutes is created to read: