(k) "Intangible expenses" has the meaning given in s. 71.22 (3g) for corporations 17
taxable under this subchapter and the meaning given in s. 71.42 (1sg) for 18
corporations taxable under subch. VII.
(L) "Interest expenses" has the meaning given in s. 71.22 (3m) for corporations 20
taxable under this subchapter and the meaning given in s. 71.42 (1t) for corporations 21
taxable under subch. VII.
(m) "Pass-through entity" means a general or limited partnership, an 23
organization of any kind treated as a partnership for tax purposes under this 24
chapter, a tax-option corporation, a real estate investment trust, a regulated
investment company, a real estate mortgage investment conduit, a financial asset 2
securitization investment trust, a trust, or an estate.
(n) "Unitary business" means a single economic enterprise that is made up 4
either of separate parts of a single business entity, of multiple business entities that 5
are related under section 267
of the Internal Revenue Code, or of a commonly 6
controlled group of business entities that are sufficiently interdependent, 7
integrated, and interrelated through their activities so as to provide a synergy and 8
mutual benefit that produces a sharing or exchange of value among them and a 9
significant flow of value to the separate parts. Two or more business entities are 10
presumed to be a unitary business if the businesses have unity of ownership, 11
operation, and use as indicated by a centralized management or a centralized 12
executive force; centralized purchasing, advertising, or accounting; intercorporate 13
sales or leases; intercorporate services, including administrative, employee benefits, 14
human resources, legal, financial, and cash management services; intercorporate 15
debts; intercorporate use of proprietary materials; interlocking directorates; or 16
interlocking corporate officers. In no event and under no circumstances shall the 17
preceding sentence be construed as exclusive of any and all other factors indicative 18
of a unitary business. For purposes of this section, the term "unitary business" shall 19
be broadly construed, to the extent permitted by the U.S. Constitution. The members 20
of a combined group shall be jointly and severally liable for costs, penalties, interests, 21
and taxes associated with the combined report. Any business conducted by a 22
pass-through entity that is owned directly or indirectly by a corporation shall be 23
treated as conducted by the corporation, to the extent of the corporation's distributive 24
share of the pass-through entity's income, regardless of the percentage of the 25
corporation's ownership interest. A business conducted directly or indirectly by one
corporation is unitary with that portion of a business conducted by another 2
corporation through its direct or indirect interest in a pass-through entity if there 3
is a synergy and exchange and flow of value between the 2 parts of the business and 4
the 2 corporations are members of the same commonly controlled group.
5(2) Corporations required to use combined reporting.
(a) A corporation, not 6
including a corporation of which all its income is exempt from taxation under s. 71.26 7
(1), engaged in a unitary business with one or more other corporations shall report 8
its share of income from that unitary business in the amount determined by a 9
combined report filed by a designated agent of the unitary business, as determined 10
under sub. (7). The combined report shall include the income, determined under sub. 11
(3), and apportionment factor or factors determined under sub. (5), of every 12
corporation engaged in the unitary business, except as provided in pars. (b) to (f).
(b) A foreign corporation that is a combined group member shall include in the 14
combined report income that is derived only from sources within the United States 15
as provided in sections 861
of the Internal Revenue Code. The foreign 16
corporation shall include in the combined report its apportionment factor or factors 17
related only to that income.
(c) Except as provided in par. (d), if 80 percent or more of a corporation's 19
worldwide income is active foreign business income, as defined in section 861
(c) (1) 20
(B) of the Internal Revenue Code, the income and apportionment factor or factors of 21
the corporation shall not be included in the combined report, but the corporation 22
shall compute and allocate or apportion its income from the unitary business 23
(d) The combined report of the unitary business of which a consolidated foreign 25
operating corporation is a member shall include, and the separate return filed by the
consolidated foreign operating corporation shall exclude, the following amounts, to 2
the extent that they are attributable to the unitary business:
1. An income amount equal to the interest expenses and intangible expenses 4
that are paid, accrued, or incurred by any combined group member to or for the 5
benefit of the consolidated foreign operating corporation, except to the extent such 6
amounts constitute income to the consolidated foreign operating corporation from 7
sources outside the United States under sections 861
of the Internal Revenue 8
2. To the extent that the amounts were not included under subd. 1., interest 10
income and income generated from intangible property received or accrued by the 11
consolidated foreign operating corporation, except to the extent such amounts 12
constitute income from sources outside the United States under sections 861
to 865 13
of the Internal Revenue Code. For purposes of this subdivision, income generated 14
from intangible property includes income related to the direct or indirect acquisition, 15
use, maintenance, management, ownership, sale, exchange, or any other disposition 16
of intangible property; income from factoring transactions or discounting 17
transactions; royalty, patent, technical, and copyright fees; licensing fees; and other 18
3. Dividends paid or accrued by a real estate investment trust to the 20
consolidated foreign operating corporation, if the real estate investment trust is not 21
a qualified real estate investment trust as defined in s. 71.22 (9ad) and the dividend 22
income is from sources within the United States under sections 861
of the 23
Internal Revenue Code.
4. Income of the consolidated foreign operating corporation that is equal to 25
gains derived from the sale of real or personal property located in the United States.
5. The apportionment factor or factors attributable to the income described in 2
subds 1. to 4.
(e) Except for the amounts in par. (d), a consolidated foreign operating 4
corporation shall compute and allocate or apportion its income from the unitary 5
(f) 1. The department may require that a combined report include the income 7
and associated apportionment factor or factors of any person who is not otherwise 8
included in a combined group under this subsection, but who is a member of a unitary 9
business, in order to reflect proper apportionment of income of the entire unitary 10
business. The department may require that a combined report include the income 11
and associated apportionment factor or factors of persons that are not corporations.
2. If the department determines that the reported income or loss of a member 13
of a combined group engaged in a unitary business with any person not otherwise 14
included in the combined group under this subsection represents an avoidance or 15
evasion of tax by the person or the combined group member, the department may 16
require all or any part of the income or loss and associated apportionment factor or 17
factors of the person be included in or excluded from the combined report for the 18
unitary business or may require the use of a different apportionment factor or 19
factors. The department may require that a combined report include or exclude the 20
income or loss and associated apportionment factor or factors of persons that are not 21
3. The authority granted under this paragraph is in addition to, and not a 23
limitation of or dependent on, the provisions in this chapter enacted to prevent tax 24
avoidance or evasion or to clearly reflect the income of any person. Any 25
determination by the department under this paragraph is presumed correct and the
person challenging the determination has the burden of proving by clear and 2
convincing evidence that the determination is incorrect.
3(3) Components of income subject to tax.
Each member is responsible for tax 4
based on its taxable income or loss apportioned or allocated to this state, including:
(a) Its share of any business income apportionable to this state of each of the 6
combined groups of which it is a member, as determined under subs. (4) and (5). For 7
financial organizations, as defined in ss. 71.04 (8) (a) and 71.25 (10) (a), business 8
income includes interest, dividends, and receipts from investments of any kind. For 9
purposes of this section, a financial organization shall treat the expenses associated 10
with an investment as business expenses.
(b) Its share of any business income apportionable to this state of a distinct 12
business activity conducted within and outside the state wholly by the member, as 13
determined under s. 71.25 or 71.45.
(c) Its income from a business conducted wholly by the member entirely within 15
(d) Its income sourced to this state from the sale or exchange of capital assets, 17
and from involuntary conversions, as determined under sub. (4) (i).
(e) Its nonbusiness income or loss allocable to this state.
(f) Its income that is realized from the purchase and subsequent sale or 20
redemption of lottery prizes, if the winning tickets were originally bought in this 21
(g) Its income or loss allocated or apportioned in an earlier year, required to be 23
taken into account as state source income or loss during the taxable year, other than 24
a net business loss carry-forward.
(h) Its net business loss carry-forward, as determined under sub. (6).
1(4) Business income of the combined group.
(a) The business income of a 2
combined group is the sum of the income of each member of the combined group as 3
determined under the Internal Revenue Code, as modified under s. 71.26 or 71.45, 4
and except as provided under pars. (b) to (j). If a unitary business includes income 5
from a pass-through entity, the pass-through entity income to be included in the 6
total income of the combined group shall be the member of the combined group's 7
direct and indirect distributive share of the pass-through entity's unitary business 8
(b) 1. Subtract any apportionable income of a distinct business activity 10
conducted within and outside the state wholly by the member, income from a 11
business conducted wholly by the member entirely within this state, the member's 12
nonbusiness income, the member's income realized from the purchase and 13
subsequent sale or redemption of lottery prizes if the winning tickets were originally 14
bought in this state, and its income allocated or apportioned in an earlier year 15
required to be taken into account as state source income during the taxable year.
2. Add any apportionable expense or loss of a distinct business activity 17
conducted within and outside the state wholly by the member, expense or loss from 18
a business conducted wholly by the member entirely within this state, the member's 19
nonbusiness expense or loss, its loss allocated or apportioned in an earlier year 20
required to be taken into account as state source loss during the taxable year, and 21
its net business loss carry-forward, except as provided in par. (e).
(c) For combined group members that are consolidated foreign operating 23
corporations, include only the income described in sub. (2) (d) 2. to 4. A combined 24
group may deduct expenses properly attributable to a consolidated foreign operating
corporation's income described in sub. (2) (d) 2. to 4., subject to ss. 71.30 (2) and (2m) 2
and 71.80 (1) (b) and (1m).
(d) The modifications provided under ss. 71.26 (2) (a) 7., 8., and 9. and 71.45 4
(2) (a) 16., 17., and 18. shall not apply with respect to interest expenses or intangible 5
expenses paid, accrued, or incurred by a combined group member to or for the benefit 6
of a consolidated foreign operating corporation.
(e) Subtract any pre-apportionment net business loss carry-forward 8
deduction, as provided in sub. (6) (b).
(f) Except as provided in sub. (2) (d) 3. and except if the modification under s. 10
71.26 (3) (j) applies, dividends paid by one combined group member to another shall 11
be, to the extent that the dividends are paid out of the earnings and profits of the 12
unitary business included in the combined report, whether in the current taxable 13
year or in a prior taxable year, subtracted from the income of the recipient. This 14
paragraph does not apply to dividends received from members of the unitary 15
business that were not part of the combined group during the calendar year 16
preceding the receipt of the dividends.
(g) Except as otherwise provided by rule, business income or loss from an 18
intercompany transaction between members of the same combined group shall be 19
deferred as provided under U.S. Treasury Regulation 1.1502-13. Upon the 20
occurrence of any of the following events, deferred business income or loss resulting 21
from an intercompany transaction between members of a combined group shall be 22
included in the income of the seller and shall be apportioned as business income or 23
loss recognized immediately before the event:
1. The object of the deferred intercompany transaction is resold by the buyer 25
to an entity that is not a member of the combined group.
2. The object of the deferred intercompany transaction is resold by the buyer 2
to an entity that is a member of the combined group for use outside the unitary 3
business in which the buyer and seller are engaged.
3. The object of the deferred intercompany transaction is converted by the 5
buyer or is otherwise transferred to a use outside the unitary business in which the 6
buyer and seller are engaged.
4. The buyer and seller are no longer members of the same combined group, 8
regardless of whether the members are in the same unitary business.
(h) A charitable expense incurred by a member of a combined group shall, to 10
the extent allowable as a deduction under section 170
of the Internal Revenue Code, 11
be subtracted first from the business income of the combined group, subject to the 12
income limitations of that section as applied to the entire business income of the 13
combined group, and any remaining amount shall then be treated as a nonbusiness 14
expense allocable to the member that incurred the expense, subject to the income 15
limitations of that section applied to the nonbusiness income of that specific member. 16
Any charitable deduction disallowed under this paragraph, but allowed as a 17
carryover deduction in a subsequent year, shall be treated as originally incurred in 18
the subsequent year by the same member and this paragraph shall apply in the 19
subsequent year in determining the allowable deduction in that year.
(i) Gain or loss from the sale or exchange of capital assets, property described 21
by section 1231
(a) (3) of the Internal Revenue Code, and property subject to an 22
involuntary conversion, shall be removed from the total separate net income of each 23
member of a combined group and shall be apportioned and allocated as follows:
1. For short-term capital gains or losses, long-term capital gains or losses, 25
gains or losses under section 1231
of the Internal Revenue Code, and involuntary
conversions, all combined group members' business gains and losses shall be 2
combined within each class, and each class of net business gain or loss separately 3
apportioned to each member using the member's apportionment factor or factors 4
determined under sub. (5).
2. Each member shall then net its apportioned business gain or loss for all 6
classes, including any such apportioned business gain and loss from other combined 7
groups, against the member's nonbusiness gain and loss for all classes allocated to 8
this state, as provided under sections 1222
of the Internal Revenue Code, 9
without regard to any of the member's gains or losses from the sale or exchange of 10
capital assets, property described under section 1231
of the Internal Revenue Code, 11
and involuntary conversions that are nonbusiness items allocated to another state.
3. Any state source income or loss, if the loss is not subject to the limitations 13
of section 1211
of the Internal Revenue Code, of a member that results from the 14
application of subds. 1. and 2. shall then be applied to all other state source income 15
or loss of that member.
4. Any state source loss of a member that is subject to the limitations of section 171211
of the Internal Revenue Code shall be carried forward or carried back by that 18
member and shall be treated as state source short-term capital loss incurred by that 19
member for the year for which the carry-forward or carry-back applies.
(j) Any expense of one member of the combined group that is directly or 21
indirectly attributable to the nonbusiness or exempt income of another member of 22
the unitary business shall be allocated to that other member of the unitary business 23
as corresponding nonbusiness or exempt expense, as appropriate.
24(5) Member's share of business income of the combined group.
(a) For 25
purposes of this subsection, each member of a combined group is doing business in
this state if any member of the combined group is doing business in this state and 2
that business relates to the combined group's unitary business. Except as provided 3
in par. (b), a taxpayer's share of the business income apportionable to this state of 4
each combined group of which it is a member shall be the product of the business 5
income of the combined group as determined under sub. (4) and the taxpayer's 6
modified sales factor from the combined group, determined as follows:
1. For a member that is subject to apportionment under s. 71.25 (9), the 8
numerator of the modified sales factor includes the member's sales associated with 9
the combined group's unitary business in this state. Sales under s. 71.25 (9) (b) 2m. 10
and 3. and (c) shall be included in the numerator of the modified sales factor if no 11
member of the combined group is within the jurisdiction of the destination state for 12
income or franchise tax purposes.
2. For a member that is subject to apportionment using a receipts factor under 14
the department's rules pursuant to s. 71.25 (10), the numerator of the modified sales 15
factor includes the member's Wisconsin receipts associated with the combined 16
group's unitary business in this state, as provided by such rules.
3. For a member that is subject to apportionment under s. 71.45 (3), the 18
numerator of the modified sales factor includes the member's premiums that are 19
associated with the combined group's unitary business in this state.
4. The denominator of the modified sales factor shall include the denominator 21
of the sales factor for each combined group member described in subd. 1., the 22
denominator of the receipts factor for each combined group member described in 23
subd. 2., and the denominator of the premiums factor for each combined group 24
member described in subd. 3.
5. For a member that is required under the department's rules to use an 2
apportionment factor or factors other than the sales factor, receipts factor, or 3
premiums factor, the numerator of the modified sales factor for such member is its 4
Wisconsin apportionment percentage on a separate entity basis based on the rules 5
prescribed by the department, multiplied by the member's total sales, as defined in 6
s. 71.25 (9) (e) and (f). The denominator of the modified sales factor for such member 7
is the member's total sales as defined in s. 71.25 (9) (e) and (f).
6. The numerator and denominator, described in subds. 1. to 5., shall include 9
the sales, receipts, or premiums of pass-through entities that are owned directly or 10
indirectly by a corporation in proportion to a ratio the numerator of which is the 11
amount of the corporation's distributive share of the pass-through entity's unitary 12
business income included in the income of the combined group under sub. (4) and the 13
denominator of which is the amount of the pass-through entity's total unitary 14
7. The modified sales factor shall exclude transactions between members of the 16
same combined group.
8. For purposes of determining the numerator of the modified sales factor or 18
any apportionment factor or factors determined under par. (b), a taxpayer is 19
considered to be within the jurisdiction for income or franchise tax purposes of any 20
state in which any member of its combined group is within the jurisdiction for income 21
or franchise tax purposes.
(b) If 2 or more members of a combined group would in the absence of this 23
section be required to use differing apportionment formulas from one another, and 24
if the business income of the combined group derived from business transacted in 25
this state of that combined group cannot be ascertained with reasonable certainty
by use of the modified sales factor as provided in par. (a), the combined group may 2
petition the department to use a different apportionment computation for the 3
combined report. This paragraph does not apply if less than 30 percent of the 4
business income of the combined group would in the absence of this section be 5
required to be apportioned using a factor or factors other than a single sales factor, 6
a single receipts factor, or a single premiums factor. The department shall deny the 7
petition if the taxpayer cannot show, by clear and convincing evidence, that the 8
apportionment methods described in this subsection do not clearly reflect the income 9
of the unitary business attributable to this state.
10(6) Credits, net business losses, and post-apportionment deductions.
Except as provided in par. (b), no tax credit, Wisconsin net business loss 12
carry-forward, or other post-apportionment deduction earned by one member of the 13
combined group, but not fully used by or allowed to that member, may be used in 14
whole or in part by another member of the combined group or applied in whole or in 15
part against the total income of the combined group. A member of a combined group 16
may use a carry-forward of a credit, Wisconsin net business loss carry-forward, or 17
other post-apportionment deduction otherwise allowable under s. 71.26 or 71.45, 18
that was incurred by that same member in a taxable year beginning before the 19
effective date of this paragraph .... [LRB inserts date].
(b) A combined group member's share of a Wisconsin net business loss 21
computed on a combined report for a taxable year beginning on or after the effective 22
date of this paragraph .... [LRB inserts date], is subject to the carry-forward period 23
and limitations provided in s. 71.26 (4), if the member is subject to tax under this 24
subchapter, or s. 71.45 (4), if the member is subject to tax under subchapter VII. A
member may use such Wisconsin net business loss, or share it among the members 2
of the unitary business filing the combined report, as follows:
1. For the taxable year in which the Wisconsin net business loss from the 4
unitary business is generated, such loss shall first be offset by the member against 5
its Wisconsin income for that same taxable year from sources other than the unitary 6
business. In subsequent years, the member shall offset such loss first against income 7
from that same unitary business in the manner described in subd. 2. and then from 8
sources other than the unitary business.
2. If the member is included in the combined report of the same unitary 10
business for the taxable year for which the member will offset the loss, the member 11
shall convert its Wisconsin net business loss carry-forward attributable to the 12
unitary business to a pre-apportionment net business loss carry-forward in the 13
manner described in subd. 3. and offset it against the combined group's business 14
income computed under sub. (4). Any amount of pre-apportionment net business 15
loss carry-forward not offset by the combined group's business income shall be 16
converted back to a Wisconsin net business loss carry-forward in the manner 17
described in subd. 4. and offset against the member's income, if any, from sources 18
other than the unitary business. The carry-forward period and limitations set forth 19
in ss. 71.26 (4) and 71.45 (4) shall apply in the same manner as if the loss was not 20
converted to a pre-apportionment net business loss carry-forward before used.
3. For purposes of subd. 2, the pre-apportionment net business loss 22
carry-forward for each year for which a combined group member has available 23
Wisconsin net business loss is the member's apportioned share of the Wisconsin net 24
business loss computed on the combined report for the year in which the loss was
generated, divided by the member's Wisconsin apportionment percentage computed 2
on that same combined report.
4. A combined group member's pre-apportionment net business loss 4
carry-forward computed under subd. 3, but not used, shall be converted back to a 5
Wisconsin net business loss carry-forward by multiplying the member's apportioned 6
share of the remaining Wisconsin net business loss computed on the combined report 7
for the year in which the loss was generated by the member's Wisconsin 8
apportionment percentage computed on that same combined report.
5. Except as provided by the department by rule, if a corporation may no longer 10
be included in the combined report, as determined under this section, that 11
corporation's share of Wisconsin net business loss carry-forward from the combined 12
group may not be shared among or transferred to any other members of the combined 13
group or members of other combined groups, but the corporation may claim the loss 14
carry-forward against its own income attributable to other unitary businesses or 15
other sources of income, subject to the limitations under ss. 71.26 (4) or 71.45 (4).
16(7) Designated agent.
(a) Each combined group shall have one designated 17
agent. The designated agent is the parent corporation of the combined group. If 18
there is no such parent corporation, the designated agent may be appointed by the 19
members. If there is no such parent corporation and no member is appointed, the 20
designated agent is the member that has the most significant operations in this state 21
on a recurring basis, as determined by the department. The designated agent may 22
change only when the designated agent is no longer a member of the combined group, 23
in which case the succeeding designated agent shall notify the department of the 24
change in the manner prescribed by the department.
(b) Only the designated agent may act on behalf of the members of the combined 2
group for matters relating to the combined report. The designated agent's 3
1. Filing a combined report under sub. (2) (a).
2. Filing any extension under s. 71.24 or 71.44.
3. Filing any amended combined reports or claims for refunds or credits.
4. Sending and receiving all correspondence with the department regarding the 8
5. Remitting all taxes, including estimated taxes, to the department. For 10
purposes of computing interest on late payments, all payments remitted are deemed 11
to be made on a pro rata basis by all members of the combined group, unless 12
otherwise specified by the designated agent.
6. Participating on behalf of the combined group members in any investigation 14
or hearing requested by the department regarding a combined report, producing all 15
information requested by the department regarding the combined report, and filing 16
any appeal related to the combined report, investigation, or hearing. Any appeal 17
filed by the designated agent shall be considered to be filed by all members of the 18
7. Executing waivers, closing agreements, powers of attorney, and other 20
documents as necessary or required regarding the combined report filed under sub. 21
(2) (a). Any waiver, agreement, power of attorney, or document executed by the 22
designated agent shall be considered as executed by all members of the combined 23
8. Receiving notices regarding the combined report. Any such notice the 2
designated agent receives is considered received by all members of the combined 3
9. Receiving refunds relating to the combined report. Any such refund shall 5
be paid to and in the name of the designated agent and shall discharge any liability 6
of the state to any member of the combined group regarding the refund.
10. Other responsibilities as determined by rule by the department.
(c) Acts contrary to those described in par. (b) are unauthorized acts that do not 9
bind the department in any manner. The department may choose to receive the 10
benefits or assume the obligations of any such unauthorized acts. The department 11
is bound by acts contrary to those described in par. (b) only if the department takes 12
affirmative steps to expressly manifest its intent to receive the benefits or assume 13
the obligations of any such acts. If the department takes such affirmative steps to 14
ratify an unauthorized act, the unauthorized act relates back to the time of the 15
(d) The department may relieve the designated agent from any of the duties 17
described in par. (b). Unless the department provides for such relief by rule, a 18
designated agent shall obtain written approval from the department to be relieved 19
of the duties described in par. (b).
20(8) Taxable year of combined group.
The combined group's taxable year is 21
determined as follows:
(a) If 2 or more members of a combined group file a federal consolidated return, 23
the combined group's taxable year is the taxable year of the federal consolidated 24
group. In all other cases, the taxable year is the taxable year of the designated agent 25
under sub. (7).
(b) If a taxable year of a member of a combined group differs from the taxable 2
year of the combined group, the designated agent shall elect to determine the portion 3
of that member's income to be included in one of the following ways:
1. A separate income statement prepared from the books and records for the 5
months included in the combined group's taxable year.
2. Including all of the income for the year that ends during the combined group's 7
(c) For corporations that are subject to an election under par. (b), the same 9
election shall be made for each member of the combined group subject to the election, 10
the same election shall be made in each succeeding year, and the election is 11
irrevocable except upon written approval by the department.
12(9) Part-year members of a combined group.
If a corporation becomes a 13
member of a combined group or ceases to be a member of a combined group after the 14
beginning of the taxable year of the combined group, the corporation's income shall 15
be determined as provided under subs. (3), (4), and (5) for the portion of the year in 16
which the corporation was a member of the combined group and that income shall 17
be included in the combined report. The income for the remaining short period shall 18
be reported on a separate return or separate combined report.
The department shall deem timely paid the estimated tax 20
payments attributable to income includable in the combined report for installments 21
that become due during the period beginning on January 1, 2009, and ending on the 22
effective date of this subsection .... [LRB inserts date], provided that such estimated 23
tax payments are paid by the next installment due date that follows in sequence 24
following the effective date of this subsection .... [LRB inserts date]. However, if the 25
next installment due date that follows in sequence following the effective date of this
subsection .... [LRB inserts date], is less than 45 days after the effective date of this 2
subsection .... [LRB inserts date], such estimated tax payments, in addition to the 3
payment due less than 45 days after the effective date of this subsection .... [LRB 4
inserts date], shall be deemed timely paid if paid by the next subsequent installment 5
SB62, s. 132
71.26 (2) (a) 4. of the statutes is amended to read:
(a) 4. Plus the amount of the credit computed under s. 71.28 (1dd), 8
(1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy),
(3g), (3h), (3n), (3p), (3r),
(3t), (3w), 9
(5e), (5f), (5g), (5h), (5i), (5j), and (5k) and not passed through by a partnership, 10
limited liability company, or tax-option corporation that has added that amount to 11
the partnership's, limited liability company's, or tax-option corporation's income 12
under s. 71.21 (4) or 71.34 (1k) (g).
SB62, s. 133
71.26 (2) (a) 7. of the statutes is amended to read:
(a) 7. Plus the amount deducted or excluded under the Internal 15
Revenue Code for interest expenses and,
rental expenses, intangible expenses, and
that are directly or indirectly paid, accrued, or incurred to, or in 17
connection directly or indirectly with one or more direct or indirect transactions with, 18
one or more related entities.
SB62, s. 134
71.26 (2) (a) 9. of the statutes is amended to read: