71.28 (3w) (b) 1. a. The claimant's zone payroll in the taxable year, minus the claimant's zone payroll number of full-time employees whose annual wages are greater than $30,000 and who the claimant employed in the enterprise zone in the taxable year, minus the number of full-time employees whose annual wages were greater than $30,000 and who the claimant employed in the area that comprises the enterprise zone in the base year.
SECTION 14. 71.28 (3w) (b) 1. b. of the statutes is amended to read:
71.28 (3w) (b) 1. b. The claimant's state payroll in the taxable year, minus the claimant's state payroll number of full-time employees whose annual wages are greater than $30,000 and who the claimant employed in the state in the taxable year, minus the number of full-time employees whose annual wages were greater than $30,000 and who the claimant employed in the state in the base year.
SECTION 15. 71.28 (3w) (b) 2. of the statutes is amended to read:
71.28 (3w) (b) 2. Subtract the number of Determine the claimant's average zone payroll by dividing total wages for full-time employees that whose annual wages are greater than $30,000 and who the claimant employed in the area that comprises the enterprise zone in the base taxable year from by the number of full-time employees that whose annual wages are greater than $30,000 and who the claimant employed in the enterprise zone in the taxable year.
SECTION 16. 71.28 (3w) (b) 3. of the statutes is amended to read:
71.28 (3w) (b) 3. Multiply Subtract $30,000 from the amount determined under subd. 2., but not an amount less than zero, by $30,000.
SECTION 17. 71.28 (3w) (b) 4. of the statutes is amended to read:
71.28 (3w) (b) 4. Subtract Multiply the amount determined under subd. 3. from by the amount determined under subd. 1.
SECTION 18. 71.28 (3w) (bm) (intro.) and 4. of the statutes are consolidated, renumbered 71.28 (3w) (bm) and amended to read:
71.28 (3w) (bm) Filing supplemental claims. In addition to the credit under par. (b) and subject to the limitations provided in this subsection and s. 560.799, a claimant may claim as a credit against the tax imposed under s. 71.23 an amount equal to all of the following: 4. The the amount the claimant paid in the taxable year to upgrade or improve the job-related skills of any of the claimant's full-time employees, to train any of the claimant's full-time employees on the use of job-related new technologies, or to train provide job-related training to any full-time employee whose employment with the claimant represents the employee's first full-time job. This subdivision does not apply to employees who do not work in a an enterprise zone.
SECTION 19. 71.28 (3w) (bm) 3. of the statutes is repealed.
SECTION 20. 71.28 (3w) (d) of the statutes is amended to read:
71.28 (3w) (d) Administration. Subsection (4) (g) and (h), as it applies to the credit under sub. (4), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits, and a copy of the verification of their expenses, from the department of commerce.
SECTION 21. 71.47 (3w) (a) 5m. of the statutes is created to read:
71.47 (3w) (a) 5m. "Wages" means wages under section 3306 (b) of the Internal Revenue Code, determined without regard to any dollar limitations.
SECTION 22. 71.47 (3w) (a) 6. of the statutes is amended to read:
71.47 (3w) (a) 6. "Zone payroll" means the amount of state payroll that is attributable to compensation wages paid to individuals full-time employees for services that are performed in a an enterprise zone. "Zone payroll" does not include the amount of compensation wages paid to any individuals full-time employees that exceeds $100,000.
SECTION 23. 71.47 (3w) (b) 1. a. of the statutes is amended to read:
71.47 (3w) (b) 1. a. The claimant's zone payroll in the taxable year, minus the claimant's zone payroll number of full-time employees whose annual wages are greater than $30,000 and who the claimant employed in the enterprise zone in the taxable year, minus the number of full-time employees whose annual wages were greater than $30,000 and who the claimant employed in the area that comprises the enterprise zone in the base year.
SECTION 24. 71.47 (3w) (b) 1. b. of the statutes is amended to read:
71.47 (3w) (b) 1. b. The claimant's state payroll in the taxable year, minus the claimant's state payroll number of full-time employees whose annual wages are greater than $30,000 and who the claimant employed in the state in the taxable year, minus the number of full-time employees whose annual wages were greater than $30,000 and who the claimant employed in the state in the base year.
SECTION 25. 71.47 (3w) (b) 2. of the statutes is amended to read:
71.47 (3w) (b) 2. Subtract the number of Determine the claimant's average zone payroll by dividing total wages for full-time employees that whose annual wages are greater than $30,000 and who the claimant employed in the area that comprises the enterprise zone in the base taxable year from by the number of full-time employees that whose annual wages are greater than $30,000 and who the claimant employed in the enterprise zone in the taxable year.
SECTION 26. 71.47 (3w) (b) 3. of the statutes is amended to read:
71.47 (3w) (b) 3. Multiply Subtract $30,000 from the amount determined under subd. 2., but not an amount less than zero, by $30,000.
SECTION 27. 71.47 (3w) (b) 4. of the statutes is amended to read:
71.47 (3w) (b) 4. Subtract Multiply the amount determined under subd. 3. from by the amount determined under subd. 1.
SECTION 28. 71.47 (3w) (bm) (intro.) and 4. of the statutes are consolidated, renumbered 71.47 (3w) (bm) and amended to read:
71.47 (3w) (bm) Filing supplemental claims. In addition to the credit under par. (b) and subject to the limitations provided in this subsection and s. 560.799, a claimant may claim as a credit against the tax imposed under s. 71.43 an amount equal to all of the following: 4. The the amount the claimant paid in the taxable year to upgrade or improve the job-related skills of any of the claimant's full-time employees, to train any of the claimant's full-time employees on the use of job-related new technologies, or to train provide job-related training to any full-time employee whose employment with the claimant represents the employee's first full-time job. This subdivision does not apply to employees who do not work in a an enterprise zone.
SECTION 29. 71.47 (3w) (bm) 3. of the statutes is repealed.
SECTION 30. 71.47 (3w) (d) of the statutes is amended to read:
71.47 (3w) (d) Administration. Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits, and a copy of the verification of their expenses, from the department of commerce.
SECTION 31. 560.799 (6) (e) of the statutes is created to read:
560.799 (6) (e) The department shall determine the maximum amount of the tax credits under ss. 71.07 (3w), 71.28 (3w), and 71.47 (3w) that a certified business may claim and shall notify the department of revenue of this amount.
SECTION 32. 560.799 (6) (f) of the statutes is created to read:
560.799 (6) (f) The department shall annually verify the information submitted to the department under ss. 71.07 (3w), 71.28 (3w), or 71.47 (3w).
SECTION 9341. Initial applicability; Revenue.
(1) ENTERPRISE ZONE JOBS CREDIT. The repeal of sections 71.07 (3w) (bm) 3., 71.28 (3w) (bm) 3., and 71.47 (3w) (bm) 3. of the statutes, the consolidation, renumbering and amendment of 71.07 (3w) (bm) (intro.) and 4., 71.28 (3w) (bm) (intro.) and 4., and 71.47 (3w) (bm) (intro.) and 4. of the statutes, the amendment of sections 71.07 (3w) (a) 6., (b) 1. a. and b., 2., 3., and 4., and (d), 71.28 (3w) (a) 6., (b) 1. a. and b., 2., 3., and 4., and (d), and 71.47 (3w) (a) 6., (b) 1. a. and b., 2., 3., and 4., and (d) of the statutes, and the creation of sections 71.07 (3w) (a) 5m., 71.28 (3w) (a) 5m., 71.47 (3w) (a) 5m., and 560.799 (6) (e) and (f) of the statutes first apply to taxable years beginning on July 1, 2007.
(End)
LRB-0723LRB-0723/1
JK:kjf:rs
2007 - 2008 LEGISLATURE
DOA:......Easton, BB0163 - Tax refund setoffs for tribes
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
taxation
Other taxation
Under current law, DOR may enter into agreements with the Internal Revenue Service to offset state tax refunds against federal tax obligations and charge a fee for such setoffs, not to exceed $25 per transaction. In addition, DOR may enter into agreements with other states to offset state tax refunds against the tax obligations of other states. This bill allows DOR to enter into agreements with federally recognized tribes to offset state tax refunds against tribal obligations and charge a fee for such setoffs, not to exceed $25 per transaction.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 73.03 (52n) of the statutes is created to read:
73.03 (52n) To enter into agreements with federally recognized tribes located in this state that provide for offsetting state tax refunds against tribal obligations and to charge a fee up to $25 per transaction for such setoffs. Any legal proceeding to contest a setoff under this subsection shall be commenced only under the process established by the tribe.
(End)
LRB-0724LRB-0724/2
JK:kjf:pg
2007 - 2008 LEGISLATURE
DOA:......Easton, BB0164 - Changes to angel and early stage seed investment credits
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
taxation
Income taxation
This bill makes technical changes to the early stage seed investment and angel investment income and franchise tax credits in order to facilitate the administration of the credits.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 71.07 (5b) (d) of the statutes is renumbered 71.07 (5b) (d) 1.
SECTION 2. 71.07 (5b) (d) 2. of the statutes is created to read:
71.07 (5b) (d) 2. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes. The Wisconsin basis of a partner's interest in a partnership, a member's interest in a limited liability company, or stock in a tax-option corporation shall be adjusted to reflect adjustments made under this subdivision.
SECTION 3. 71.07 (5d) (d) 4. of the statutes is created to read:
71.07 (5d) (d) 4. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes.
SECTION 4. 71.28 (5b) (d) of the statutes is renumbered 71.28 (5b) (d) 1.
SECTION 5. 71.28 (5b) (d) 2. of the statutes is created to read:
71.28 (5b) (d) 2. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes. The Wisconsin basis of a partner's interest in a partnership, a member's interest in a limited liability company, or stock in a tax-option corporation shall be adjusted to reflect adjustments made under this subdivision.
SECTION 6. 71.47 (5b) (d) of the statutes is renumbered 71.47 (5b) (d) 1.
SECTION 7. 71.47 (5b) (d) 2. of the statutes is created to read:
71.47 (5b) (d) 2. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes. The Wisconsin basis of a partner's interest in a partnership, a member's interest in a limited liability company, or stock in a tax-option corporation shall be adjusted to reflect adjustments made under this subdivision.
SECTION 9341. Initial applicability; Revenue.
(1) EARLY STAGE SEED AND ANGEL INVESTMENT CREDITS. The renumbering of sections 71.07 (5b) (d), 71.28 (5b) (d), and 71.47 (5b) (d) of the statutes and the creation of sections 71.07 (5b) (d) 2. and (5d) (d) 4., 71.28 (5b) (d) 2., and 71.47 (5b) (d) 2. of the statutes first apply to taxable years beginning on January 1, 2007.
(End)
LRB-0725LRB-0725/3
JK:kjf:jf
2007 - 2008 LEGISLATURE
DOA:......Easton, BB0165 - Sales and use tax exemptions for biotechnology
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
taxation
Other taxation
This bill creates sales and use tax exemptions for machines, equipment, animals, and certain other tangible personal property that are sold to a biotechnology business for use exclusively in research. Under the bill, a biotechnology business is a business that is primarily engaged in the application of biotechnologies that use a living organism or parts of an organism to produce or modify products to improve plants or animals, develop microorganisms for specific uses, identify targets for small molecule pharmaceutical development, or transform biological systems into useful processes and products.
This bill also creates sales and use tax exemptions for machines, equipment, and certain other tangible personal property that are used exclusively in raising animals that are sold primarily to a biotechnology business, a public or private institution of higher education, or a governmental unit for use by any such entity exclusively in research or manufacturing.
