LRBb0787/1
JK:kjf:pg
2005 - 2006 LEGISLATURE
SENATE AMENDMENT 49,
TO 2005 ASSEMBLY BILL 100
June 29, 2005 - Offered by Senator
Robson.
AB100-SA49,1,3
3"
Section 455n. 20.855 (4) (fn) of the statutes is created to read:
AB100-SA49,1,84
20.855
(4) (fn)
Transfer to transportation fund; additional general fund tax
5revenues. Beginning on April 1, 2006, and on each April 1 thereafter, to be
6transferred to the transportation fund, a sum sufficient in an amount equal to the
7amount to be paid into the transportation fund, as determined under s. 78.018 (2) and
8(3).".
AB100-SA49,1,10
10"
Section 1292e. 71.06 (1p) (intro.) of the statutes is amended to read:
AB100-SA49,2,311
71.06
(1p) Fiduciaries, single individuals and heads of households; after 2000
12to 2005. (intro.) The tax to be assessed, levied
, and collected upon the taxable incomes
13of all fiduciaries, except fiduciaries of nuclear decommissioning trust or reserve
1funds, and single individuals and heads of households shall be computed at the
2following rates for taxable years beginning after December 31, 2000
, and before
3January 1, 2006:
AB100-SA49,2,95
71.06
(1q) Fiduciaries, single individuals and heads of households; after
62005. The tax to be assessed, levied, and collected upon the taxable incomes of all
7fiduciaries, except fiduciaries of nuclear decommissioning trust or reserve funds, and
8single individuals and heads of households shall be computed at the following rates
9for taxable years beginning after December 31, 2005:
AB100-SA49,2,1010
(a) On all taxable income from $0 to $7,500 , 4.6 percent.
AB100-SA49,2,1211
(b) On all taxable income exceeding $7,500 but not exceeding $15,000, 6.15
12percent.
AB100-SA49,2,1413
(c) On all taxable income exceeding $15,000 but not exceeding $112,500, 6.5
14percent.
AB100-SA49,2,1615
(d) On all taxable income exceeding $112,500 but not exceeding $1,000,000,
166.75 percent.
AB100-SA49,2,1717
(e) On all taxable income exceeding $1,000,000, 7.75 percent.
AB100-SA49,2,2019
71.06
(2) (g) (intro.) For joint returns, for taxable years beginning after
20December 31, 2000
, and before January 1, 2006:
AB100-SA49,2,2322
71.06
(2) (h) (intro.) For married persons filing separately, for taxable years
23beginning after December 31, 2000
, and before January 1, 2006:
AB100-SA49,3,2
171.06
(2) (i) For joint returns, for taxable years beginning after
2December 31, 2005:
AB100-SA49,3,33
1. On all taxable income from $0 to $10,000, 4.6 percent.
AB100-SA49,3,54
2. On all taxable income exceeding $10,000 but not exceeding $20,000, 6.15
5percent.
AB100-SA49,3,76
3. On all taxable income exceeding $20,000 but not exceeding $150,000, 6.5
7percent.
AB100-SA49,3,98
4. On all taxable income exceeding $150,000 but not exceeding $1,000,000, 6.75
9percent.
AB100-SA49,3,1010
5. On all taxable income exceeding $1,000,000, 7.75 percent.
AB100-SA49,3,1312
71.06
(2) (j) For married persons filing separately, for taxable years beginning
13after December 31, 2005:
AB100-SA49,3,1414
1. On all taxable income from $0 to $5,000, 4.6 percent.
AB100-SA49,3,1615
2. On all taxable income exceeding $5,000 but not exceeding $10,000, 6.15
16percent.
AB100-SA49,3,1817
3. On all taxable income exceeding $10,000 but not exceeding $75,000, 6.5
18percent.
AB100-SA49,3,2019
4. On all taxable income exceeding $75,000 but not exceeding $500,000, 6.75
20percent.
AB100-SA49,3,2121
5. On all taxable income exceeding $500,000, 7.75 percent.
AB100-SA49, s. 1292k
22Section 1292k. 71.06 (2e) of the statutes is renumbered 71.06 (2e) (a) and
23amended to read:
AB100-SA49,4,2424
71.06
(2e) Bracket indexing. (a) For taxable years beginning after
25December 31, 1998, and before January 1, 2000, the maximum dollar amount in
1each tax bracket, and the corresponding minimum dollar amount in the next bracket,
2under subs. (1m) and (2) (c) and (d), and for taxable years beginning after
3December 31, 1999,
and before January 1, 2006, the maximum dollar amount in
4each tax bracket, and the corresponding minimum dollar amount in the next bracket,
5under subs. (1n), (1p), and (2) (e), (f), (g), and (h),
and for taxable years beginning
6after December 31, 2006, the maximum dollar amount in each tax bracket, and the
7corresponding minimum dollar amount in the next bracket, under subs. (1q) and (2)
8(i) and (j), shall be increased each year by a percentage equal to the percentage
9change between the U.S. consumer price index for all urban consumers, U.S. city
10average, for the month of August of the previous year and the U.S. consumer price
11index for all urban consumers, U.S. city average, for the month of August 1997, as
12determined by the federal department of labor, except that for taxable years
13beginning after December 31, 2000, and before January 1, 2002, the dollar amount
14in the top bracket under subs. (1p) (c) and (d), (2) (g) 3. and 4. and (h) 3. and 4. shall
15be increased by a percentage equal to the percentage change between the U.S.
16consumer price index for all urban consumers, U.S. city average, for the month of
17August of the previous year and the U.S. consumer price index for all urban
18consumers, U.S. city average, for the month of August 1999, as determined by the
19federal department of labor. Each amount that is revised under this
subsection 20paragraph shall be rounded to the nearest multiple of $10 if the revised amount is
21not a multiple of $10 or, if the revised amount is a multiple of $5, such an amount
22shall be increased to the next higher multiple of $10. The department of revenue
23shall annually adjust the changes in dollar amounts required under this
subsection 24paragraph and incorporate the changes into the income tax forms and instructions.
AB100-SA49,5,14
171.06
(2e) (b) For taxable years beginning after December 31, 2004, and before
2January 1, 2006, the maximum dollar amount in each tax bracket, and the
3corresponding minimum dollar amount in the next bracket, under subs. (1q) (a), (b),
4(c), and (d) and (2) (i) 1., 2., 3., and 4. and (j) 1., 2., 3., and 4., shall be increased each
5year by a percentage equal to the percentage change between the U.S. consumer
6price index for all urban consumers, U.S. city average, for the month of August of the
7previous year and the U.S. consumer price index for all urban consumers, U.S. city
8average, for the month of August 1997, as determined by the federal department of
9labor. Each amount that is revised under this paragraph shall be rounded to the
10nearest multiple of $10 if the revised amount is not a multiple of $10 or, if the revised
11amount is a multiple of $5, such an amount shall be increased to the next higher
12multiple of $10. The department of revenue shall annually adjust the changes in
13dollar amounts required under this paragraph and incorporate the changes into the
14income tax forms and instructions.
AB100-SA49,5,1916
71.06
(2m) Rate changes. If a rate under sub. (1), (1m), (1n), (1p)
, (1q), or (2)
17changes during a taxable year, the taxpayer shall compute the tax for that taxable
18year by the methods applicable to the federal income tax under section
15 of the
19internal revenue code Internal Revenue Code.
AB100-SA49,6,821
71.06
(2s) (d) For taxable years beginning after December 31, 2000,
and before
22January 1, 2006, with respect to nonresident individuals, including individuals
23changing their domicile into or from this state, the tax brackets under subs. (1p) and
24(2) (g) and (h) shall be multiplied by a fraction, the numerator of which is Wisconsin
25adjusted gross income and the denominator of which is federal adjusted gross
1income. In this paragraph, for married persons filing separately "adjusted gross
2income" means the separate adjusted gross income of each spouse, and for married
3persons filing jointly "adjusted gross income" means the total adjusted gross income
4of both spouses. If an individual and that individual's spouse are not both domiciled
5in this state during the entire taxable year, the tax brackets under subs. (1p) and (2)
6(g) and (h) on a joint return shall be multiplied by a fraction, the numerator of which
7is their joint Wisconsin adjusted gross income and the denominator of which is their
8joint federal adjusted gross income.
AB100-SA49,6,2210
71.06
(2s) (e) For taxable years beginning after December 31, 2005, with
11respect to nonresident individuals, including individuals changing their domicile
12into or from this state, the tax brackets under subs. (1q) and (2) (i) and (j) shall be
13multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income
14and the denominator of which is federal adjusted gross income. In this paragraph,
15for married persons filing separately "adjusted gross income" means the separate
16adjusted gross income of each spouse, and for married persons filing jointly "adjusted
17gross income" means the total adjusted gross income of both spouses. If an individual
18and that individual's spouse are not both domiciled in this state during the entire
19taxable year, the tax brackets under subs. (1q) and (2) (i) and (j) on a joint return shall
20be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted
21gross income and the denominator of which is their joint federal adjusted gross
22income.".
AB100-SA49,6,24
24"
Section 1318e. 71.125 of the statutes is amended to read:
AB100-SA49,7,5
171.125 Imposition of tax. (1) Except as provided in sub. (2), the tax imposed
2by this chapter on individuals and the rates under s. 71.06 (1), (1m), (1n), (1p)
, (1q), 3and (2) shall apply to the Wisconsin taxable income of estates or trusts, except
4nuclear decommissioning trust or reserve funds, and that tax shall be paid by the
5fiduciary.
AB100-SA49,7,10
6(2) Each electing small business trust, as defined in section
1361 (e) (1) of the
7Internal Revenue Code, is subject to tax at the highest rate under s. 71.06 (1), (1m),
8(1n)
or, (1p),
or (1q), whichever taxable year is applicable, on its income as computed
9under section
641 of the Internal Revenue Code, as modified by s. 71.05 (6) to (12),
10(19)
, and (20).
AB100-SA49,7,1512
71.17
(6) Funeral trusts. If a qualified funeral trust makes the election under
13section
685 of the Internal Revenue Code for federal income tax purposes, that
14election applies for purposes of this chapter and each trust shall compute its own tax
15and shall apply the rates under s. 71.06 (1), (1m), (1n)
or
, (1p)
, or (1q).
".
AB100-SA49,7,17
17"
Section 1343g. 71.25 (9) (a) of the statutes is amended to read:
AB100-SA49,8,418
71.25
(9) (a) The sales factor is a fraction, the numerator of which is the total
19sales of the taxpayer in this state during the tax period, and the denominator of
20which is the total sales of the taxpayer everywhere during the tax period. For sales
21of tangible personal property, the numerator of the sales factor is the sales of the
22taxpayer during the tax period under par. (b) 1. and 2. plus 50% of the sales of the
23taxpayer during the tax period under pars. (b) 2m. and 3. and (c).
For purposes of
24determining the numerator of the sales factor for a member of a combined reporting
1group under s. 71.255 (7), "taxpayer" means the member of a combined reporting
2group, as defined in s. 71.255 (1) (c), that transferred title to tangible personal
3property or, for sales other than sales of tangible personal property, that made the
4sale.".
AB100-SA49,8,6
6"
Section 1349e. 71.255 of the statutes is created to read: