AB40-ASA1,1373
20Section
1373. 71.26 (1m) (L) of the statutes is created to read:
AB40-ASA1,761,2521
71.26
(1m) (L) Those issued under s. 231.03 (6), if the bonds or notes are issued
22for the benefit of a person who is eligible to receive the proceeds of bonds or notes from
23another entity for the same purpose for which the bonds or notes are issued under
24s. 231.03 (6) and the interest income received from the other bonds or notes is exempt
25from taxation under this subchapter.
AB40-ASA1,1374
1Section
1374. 71.26 (2) (b) 9. of the statutes is created to read:
AB40-ASA1,771,62
71.26
(2) (b) 9. For taxable years that begin after December 31, 2012, for a
3corporation, conduit, or common law trust which qualifies as a regulated investment
4company, real estate mortgage investment conduit, real estate investment trust, or
5financial asset securitization investment trust under the Internal Revenue Code as
6amended to December 31, 2010, excluding sections 103, 104, and 110 of P.L.
102-227,
7sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, sections
81123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3, 4, and
95 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, section 431 of P.L.
107-16,
10sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27,
11section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311,
12sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357,
13P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329,
141348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section 301 of P.L.
15109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
16(j), and (q), and 405 of P.L.
109-135, sections 101, 207, 503, and 513 of P.L.
109-222,
17P.L.
109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of
18division A and section 403 of division C of P.L.
109-432, P.L.
110-28, except sections
198215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-140, sections 2, 3, and 5
20of P.L.
110-142, P.L.
110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
21P.L.
110-185, P.L.
110-234, section 301 of P.L.
110-245, P.L.
110-246, except sections
224, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, sections 3071, 3081, and
233082 of P.L.
110-289, section 9 (e) of P.L.
110-317, P.L.
110-343, except sections 116,
24208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
110-343,
25P.L.
111-5, except sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of
1division B of P.L.
111-5, section 201 of P.L.
111-147, P.L.
111-148, except sections
21322, 1515, 9003, 9004, 9005, 9012, 9013, 9014, 9016, 9021, 9022, 10108, 10902,
310908, and 10909 of P.L.
111-148, P.L.
111-152, except sections 1403 and 1407 of P.L.
4111-152, P.L.
111-203, except section 1601 of P.L.
111-203, P.L.
111-226, except
5sections 215 and 217 of P.L.
111-226, P.L.
111-240, except sections 2014, 2043, 2111,
62112, and 2113 of P.L.
111-240, and P.L.
111-312, and as amended by section 1858
7of P.L.
112-10, section 1108 of P.L.
112-95, sections 40211, 40241, 40242, and 100121
8of P.L.
112-141, and sections 101 and 902 of P.L.
112-240, and as indirectly affected
9in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
10100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
11102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
12102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
1313203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
14104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
15104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
16105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
17excluding sections 162 and 165 of P.L.
106-554, P.L.
106-573, P.L.
107-15, P.L.
18107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
19107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
20107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections
21106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201
22of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306,
23308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 102,
24201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
25P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310,
11323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-59,
2excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding section 301 of P.L.
3109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates to section
41400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
5109-222, excluding sections 101, 207, 503, and 513 of P.L.
109-222, P.L.
109-227,
6P.L.
109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division A
7and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232, 8234, and
88236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3, and 5 of P.L.
9110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
10P.L.
110-245, excluding section 301 of P.L.
110-245, sections 4, 15312, 15313, 15314,
1115316, and 15342 of P.L.
110-246, P.L.
110-289, excluding sections 3071, 3081, and
123082 of P.L.
110-289, P.L.
110-317, excluding section 9 (e) of P.L.
110-317, sections
13116, 208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
14110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401, 1402, 1521, 1522,
151531, and 1541 of division B of P.L.
111-5, P.L.
111-92, P.L.
111-147, excluding
16section 201 of P.L.
111-147, sections 1322, 1515, 9003, 9004, 9005, 9012, 9013, 9014,
179016, 9021, 9022, 10108, 10902, 10908, and 10909 of P.L.
111-148, sections 1403 and
181407 of P.L.
111-152, P.L.
111-192, section 1601 of P.L.
111-203, sections 215 and 217
19of P.L.
111-226, sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240, P.L.
20111-325, section 1858 of P.L.
112-10, section 1108 of P.L.
112-95, sections 40211,
2140241, 40242, and 100121 of P.L.
112-141, and sections 101 and 902 of P.L.
112-240,
22"net income" means the federal regulated investment company taxable income,
23federal real estate mortgage investment conduit taxable income, federal real estate
24investment trust or financial asset securitization investment trust taxable income
25of the corporation, conduit, or trust as determined under the Internal Revenue Code
1as amended to December 31, 2010, excluding sections 103, 104, and 110 of P.L.
2102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
3sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3,
44, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, section 431 of P.L.
5107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
6108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403 (a) of P.L.
7108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
8108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
91329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section 301 of P.L.
10109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
11(j), and (q), and 405 of P.L.
109-135, sections 101, 207, 503, and 513 of P.L.
109-222,
12P.L.
109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of
13division A and section 403 of division C of P.L.
109-432, P.L.
110-28, except sections
148215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-140, sections 2, 3, and 5
15of P.L.
110-142, P.L.
110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
16P.L.
110-185, P.L.
110-234, section 301 of P.L.
110-245, P.L.
110-246, except sections
174, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, sections 3071, 3081, and
183082 of P.L.
110-289, section 9 (e) of P.L.
110-317, P.L.
110-343, except sections 116,
19208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
110-343,
20P.L.
111-5, except sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of
21division B of P.L.
111-5, section 201 of P.L.
111-147, P.L.
111-148, except sections
221322, 1515, 9003, 9004, 9005, 9012, 9013, 9014, 9016, 9021, 9022, 10108, 10902,
2310908, and 10909 of P.L.
111-148, P.L.
111-152, except sections 1403 and 1407 of P.L.
24111-152, P.L.
111-203, except section 1601 of P.L.
111-203, P.L.
111-226, except
25sections 215 and 217 of P.L.
111-226, P.L.
111-240, except sections 2014, 2043, 2111,
12112, and 2113 of P.L.
111-240, and P.L.
111-312, and as amended by section 1858
2of P.L.
112-10, section 1108 of P.L.
112-95, sections 40211, 40241, 40242, and 100121
3of P.L.
112-141, and sections 101 and 902 of P.L.
112-240, and as indirectly affected
4in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
5100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
6102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
7102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
813203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
9104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
10104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
11105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
12excluding sections 162 and 165 of P.L.
106-554, P.L.
106-573, P.L.
107-15, P.L.
13107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
14107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
15107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections
16106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201
17of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306,
18308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 102,
19201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
20P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310,
211323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-59,
22excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding section 301 of P.L.
23109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates to section
241400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
25109-222, excluding sections 101, 207, 503, and 513 of P.L.
109-222, P.L.
109-227,
1P.L.
109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division A
2and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232, 8234, and
38236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3, and 5 of P.L.
4110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
5P.L.
110-245, excluding section 301 of P.L.
110-245, sections 4, 15312, 15313, 15314,
615316, and 15342 of P.L.
110-246, P.L.
110-289, excluding sections 3071, 3081, and
73082 of P.L.
110-289, P.L.
110-317, excluding section 9 (e) of P.L.
110-317, sections
8116, 208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
9110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401, 1402, 1521, 1522,
101531, and 1541 of division B of P.L.
111-5, P.L.
111-92, P.L.
111-147, excluding
11section 201 of P.L.
111-147, sections 1322, 1515, 9003, 9004, 9005, 9012, 9013, 9014,
129016, 9021, 9022, 10108, 10902, 10908, and 10909 of P.L.
111-148, section 1407 of
13P.L.
111-152, P.L.
111-192, section 1601 of P.L.
111-203, sections 215 and 217 of P.L.
14111-226, sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240, P.L.
111-325,
15section 1858 of P.L.
112-10, section 1108 of P.L.
112-95, sections 40211, 40241, 40242,
16and 100121 of P.L.
112-141, and sections 101 and 902 of P.L.
112-240, except that
17property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated
18for taxable years 1983 to 1986 under the Internal Revenue Code as amended to
19December 31, 1980, shall continue to be depreciated under the Internal Revenue
20Code as amended to December 31, 1980, and except that the appropriate amount
21shall be added or subtracted to reflect differences between the depreciation or
22adjusted basis for federal income tax purposes and the depreciation or adjusted basis
23under this chapter of any property disposed of during the taxable year. The Internal
24Revenue Code as amended to December 31, 2010, excluding sections 103, 104, and
25110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
1103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188,
2sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, section
3431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and
4202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403
5(a) of P.L.
108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and
6910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
71326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section
8301 of P.L.
109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
9(e), 403 (e), (j), and (q), and 405 of P.L.
109-135, sections 101, 207, 503, and 513 of P.L.
10109-222, P.L.
109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
11of division A and section 403 of division C of P.L.
109-432, P.L.
110-28, except
12sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-140, sections 2,
133, and 5 of P.L.
110-142, P.L.
110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L.
14110-172, P.L.
110-185, P.L.
110-234, section 301 of P.L.
110-245, P.L.
110-246,
15except sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, sections
163071, 3081, and 3082 of P.L.
110-289, section 9 (e) of P.L.
110-317, P.L.
110-343,
17except sections 116, 208, 211, and 301 of division B and sections 313 and 504 of
18division C of P.L.
110-343, P.L.
111-5, except sections 1261, 1262, 1401, 1402, 1521,
191522, 1531, and 1541 of division B of P.L.
111-5, section 201 of P.L.
111-147, P.L.
20111-148, except sections 1322, 1515, 9003, 9004, 9005, 9012, 9013, 9014, 9016, 9021,
219022, 10108, 10902, 10908, and 10909 of P.L.
111-148, P.L.
111-152, except section
221407 of P.L.
111-152, P.L.
111-203, except section 1601 of P.L.
111-203, P.L.
111-226,
23except sections 215 and 217 of P.L.
111-226, P.L.
111-240, except sections 2014, 2043,
242111, 2112, and 2113 of P.L.
111-240, and P.L.
111-312, and as amended by section
251858 of P.L.
112-10, section 1108 of P.L.
112-95, sections 40211, 40241, 40242, and
1100121 of P.L.
112-141, and sections 101 and 902 of P.L.
112-240, and as indirectly
2affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
3P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508,
4P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
5102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
613203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
7104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
8104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
9105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
10excluding sections 162 and 165 of P.L.
106-554, P.L.
106-573, P.L.
107-15, P.L.
11107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
12107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
13107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections
14106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201
15of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306,
16308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 102,
17201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
18P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310,
191323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-59,
20excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding section 301 of P.L.
21109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates to section
221400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
23109-222, excluding sections 101, 207, 503, and 513 of P.L.
109-222, P.L.
109-227,
24P.L.
109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division A
25and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232, 8234, and
18236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3, and 5 of P.L.
2110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
3P.L.
110-245, excluding section 301 of P.L.
110-245, sections 4, 15312, 15313, 15314,
415316, and 15342 of P.L.
110-246, P.L.
110-289, excluding sections 3071, 3081, and
53082 of P.L.
110-289, P.L.
110-317, excluding section 9 (e) of P.L.
110-317, sections
6116, 208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
7110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401, 1402, 1521, 1522,
81531, and 1541 of division B of P.L.
111-5, P.L.
111-92, P.L.
111-147, excluding
9section 201 of P.L.
111-147, sections 1322, 1515, 9003, 9004, 9005, 9012, 9013, 9014,
109016, 9021, 9022, 10108, 10902, 10908, and 10909 of P.L.
111-148, sections 1403 and
111407 of P.L.
111-152, P.L.
111-192, section 1601 of P.L.
111-203, sections 215 and 217
12of P.L.
111-226, sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240, P.L.
13111-325, section 1858 of P.L.
112-10, section 1108 of P.L.
112-95, sections 40211,
1440241, 40242, and 100121 of P.L.
112-141, and sections 101 and 902 of P.L.
112-240 15applies for Wisconsin purposes at the same time as for federal purposes, except that
16changes made by P.L.
106-573, sections 9004, 9005, 9012, 9013, 9014, 9016, and
1710902 of P.L.
111-148, and sections 1403 and 1407 of P.L.
111-152, section 1858 of
18P.L.
112-10, section 1108 of P.L.
112-95, and sections 40211, 40241, 40242, and
19100121 of P.L.
112-141 do not apply for taxable years beginning before January 1,
202013. Amendments to the federal Internal Revenue Code enacted after December
2131, 2010, do not apply to this paragraph with respect to taxable years beginning after
22December 31, 2010, except that changes to the Internal Revenue Code made by
23section 1858 of P.L.
112-10, section 1108 of P.L.
112-95, and sections 40211, 40241,
2440242, and 100121 of P.L.
112-141, and changes that indirectly affect the provisions
25applicable to this subchapter made by section 1858 of P.L.
112-10, section 1108 of P.L.
1112-95, and sections 40211, 40241, 40242, and 100121 of P.L.
112-141, do not apply
2for taxable years beginning before January 1, 2013, and changes to the Internal
3Revenue Code made by sections 101 and 902 of P.L.
112-240, and changes that
4indirectly affect the provisions applicable to this subchapter made by sections 101
5and 902 of P.L.
112-240, apply for Wisconsin purposes at the same time as for federal
6purposes.
AB40-ASA1,1375
7Section
1375. 71.26 (2) (b) 15. of the statutes is repealed.
AB40-ASA1,1376
8Section
1376. 71.26 (2) (b) 16. of the statutes is renumbered 71.26 (2) (b) 1.
AB40-ASA1,1377
9Section
1377. 71.26 (2) (b) 17. of the statutes is renumbered 71.26 (2) (b) 2.
AB40-ASA1,1378
10Section
1378. 71.26 (2) (b) 18. of the statutes is renumbered 71.26 (2) (b) 3.
AB40-ASA1,1379
11Section
1379. 71.26 (2) (b) 19. of the statutes is renumbered 71.26 (2) (b) 4.
AB40-ASA1,1380
12Section
1380. 71.26 (2) (b) 20. of the statutes is renumbered 71.26 (2) (b) 5.
AB40-ASA1,1381
13Section
1381. 71.26 (2) (b) 21. of the statutes is renumbered 71.26 (2) (b) 6.
AB40-ASA1,1382
14Section
1382. 71.26 (2) (b) 22. of the statutes is renumbered 71.26 (2) (b) 7.
AB40-ASA1,1383
15Section
1383. 71.26 (2) (b) 23. of the statutes is renumbered 71.26 (2) (b) 8. and
16amended to read:
AB40-ASA1,780,917
71.26
(2) (b) 8. For taxable years that begin after December 31, 2010,
and
18before January 1, 2013, for a corporation, conduit, or common law trust which
19qualifies as a regulated investment company, real estate mortgage investment
20conduit, real estate investment trust, or financial asset securitization investment
21trust under the Internal Revenue Code as amended to December 31, 2010, excluding
22sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
2313174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
241605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
25of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of
1P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173,
2sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 102, 201, 211,
3242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305,
41308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58,
5section 11146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as
6it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135,
7sections 101, 207, 503, and 513 of P.L.
109-222, P.L.
109-432, except sections 117,
8406, 409, 410, 412, 417, 418, 424, and 425 of division A and section 403 of division
9C of P.L.
109-432, P.L.
110-28, except sections 8215, 8231, 8232, 8234, and 8236 of
10P.L.
110-28, P.L.
110-140, sections 2, 3, and 5 of P.L.
110-142, P.L.
110-166, sections
113 (b) and 11 (b), (e), and (g) of P.L.
110-172, P.L.
110-185, P.L.
110-234, section 301
12of P.L.
110-245, P.L.
110-246, except sections 4, 15312, 15313, 15314, 15316, and
1315342 of P.L.
110-246, sections 3071, 3081, and 3082 of P.L.
110-289, section 9 (e) of
14P.L.
110-317, P.L.
110-343, except sections 116, 208, 211, and 301 of division B and
15sections 313 and 504 of division C of P.L.
110-343, P.L.
111-5, except sections 1261,
161262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
111-5, section 201
17of P.L.
111-147, P.L.
111-148, except sections 1322, 1515, 9003, 9021, 9022, 10108,
1810908, and 10909 of P.L.
111-148, P.L.
111-152, except section 1407 of P.L.
111-152,
19P.L.
111-203, except section 1601 of P.L.
111-203, P.L.
111-226, except sections 215
20and 217 of P.L.
111-226, P.L.
111-240, except sections 2014, 2043, 2111, 2112, and
212113 of P.L.
111-240, and P.L.
111-312,
and as amended by section 902 of P.L.
22112-240, and as indirectly affected in the provisions applicable to this subchapter by
23P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
24P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
25102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
1(d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
2103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
31311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
4105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
5106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15,
6P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
7107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
8107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections
9106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201
10of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306,
11308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 102,
12201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
13P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310,
141323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-59,
15excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding section 301 of P.L.
16109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates to section
171400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
18109-222, excluding sections 101, 207, 503, and 513 of P.L.
109-222, P.L.
109-227,
19P.L.
109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division A
20and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232, 8234, and
218236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3, and 5 of P.L.
22110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
23P.L.
110-245, excluding section 301 of P.L.
110-245, sections 4, 15312, 15313, 15314,
2415316, and 15342 of P.L.
110-246, P.L.
110-289, excluding sections 3071, 3081, and
253082 of P.L.
110-289, P.L.
110-317, excluding section 9 (e) of P.L.
110-317, sections
1116, 208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
2110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401, 1402, 1521, 1522,
31531, and 1541 of division B of P.L.
111-5, P.L.
111-92, P.L.
111-147, excluding
4section 201 of P.L.
111-147, sections 1322, 1515, 9003, 9021, 9022, 10108, 10908, and
510909 of P.L.
111-148, section 1407 of P.L.
111-152, P.L.
111-192, section 1601 of P.L.
6111-203, sections 215 and 217 of P.L.
111-226, sections 2014, 2043, 2111, 2112, and
72113 of P.L.
111-240,
and P.L.
111-325, and section 902 of P.L. 112-240, "net income"
8means the federal regulated investment company taxable income, federal real estate
9mortgage investment conduit taxable income, federal real estate investment trust
10or financial asset securitization investment trust taxable income of the corporation,
11conduit, or trust as determined under the Internal Revenue Code as amended to
12December 31, 2010, excluding sections 103, 104, and 110 of P.L.
102-227, sections
1313113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b),
141202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
15106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
16107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
17108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403 (a) of P.L.
18108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
19108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
201329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section 301 of P.L.
21109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
22(j), and (q), and 405 of P.L.
109-135, sections 101, 207, 503, and 513 of P.L.
109-222,
23P.L.
109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of
24division A and section 403 of division C of P.L.
109-432, P.L.
110-28, except sections
258215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-140, sections 2, 3, and 5
1of P.L.
110-142, P.L.
110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
2P.L.
110-185, P.L.
110-234, section 301 of P.L.
110-245, P.L.
110-246, except sections
34, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, sections 3071, 3081, and
43082 of P.L.
110-289, section 9 (e) of P.L.
110-317, P.L.
110-343, except sections 116,
5208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
110-343,
6P.L.
111-5, except sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of
7division B of P.L.
111-5, section 201 of P.L.
111-147, P.L.
111-148, except sections
81322, 1515, 9003, 9021, 9022, 10108, 10908, and 10909 of P.L.
111-148, P.L.
111-152,
9except section 1407 of P.L.
111-152, P.L.
111-203, except section 1601 of P.L.
111-203,
10P.L.
111-226, except sections 215 and 217 of P.L.
111-226, P.L.
111-240, except
11sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240, and P.L.
111-312,
and as
12amended by section 902 of P.L. 112-240, and as indirectly affected in the provisions
13applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
14101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
15excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
16103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
17103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188,
18excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
19104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
20105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections
21162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
22107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections
23101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
24107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
25108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
1108-218, P.L.
108-311, excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
2108-311, P.L.
108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422,
3847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
4109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
51329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146 of P.L.
6109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135, excluding
7sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
8(q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections 101, 207,
9503, and 513 of P.L.
109-222, P.L.
109-227, P.L.
109-280, sections 117, 406, 409, 410,
10412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L.
109-432,
11sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-141, P.L.
110-142,
12excluding sections 2, 3, and 5 of P.L.
110-142, P.L.
110-172, excluding sections 3 (b)
13and 11 (b), (e), and (g) of P.L.
110-172, P.L.
110-245, excluding section 301 of P.L.
14110-245, sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, P.L.
15110-289, excluding sections 3071, 3081, and 3082 of P.L.
110-289, P.L.
110-317,
16excluding section 9 (e) of P.L.
110-317, sections 116, 208, 211, and 301 of division B
17and sections 313 and 504 of division C of P.L.
110-343, P.L.
110-351, P.L.
110-458,
18sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
19111-5, P.L.
111-92, P.L.
111-147, excluding section 201 of P.L.
111-147, sections
201322, 1515, 9003, 9021, 9022, 10108, 10908, and 10909 of P.L.
111-148, section 1407
21of P.L.
111-152, P.L.
111-192, section 1601 of P.L.
111-203, sections 215 and 217 of
22P.L.
111-226, sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240,
and P.L.
23111-325, and section 902 of P.L. 112-240, except that property that, under s. 71.02
24(1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986
25under the Internal Revenue Code as amended to December 31, 1980, shall continue
1to be depreciated under the Internal Revenue Code as amended to
2December 31, 1980, and except that the appropriate amount shall be added or
3subtracted to reflect differences between the depreciation or adjusted basis for
4federal income tax purposes and the depreciation or adjusted basis under this
5chapter of any property disposed of during the taxable year. The Internal Revenue
6Code as amended to December 31, 2010, excluding sections 103, 104, and 110 of P.L.
7102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
8sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3,
94, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section
10431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and
11202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403
12(a) of P.L.
108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and
13910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
141326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section
15301 of P.L.
109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
16(e), 403 (e), (j), and (q), and 405 of P.L.
109-135, sections 101, 207, 503, and 513 of P.L.
17109-222, P.L.
109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
18of division A and section 403 of division C of P.L.
109-432, P.L.
110-28, except
19sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-140, sections 2,
203, and 5 of P.L.
110-142, P.L.
110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L.
21110-172, P.L.
110-185, P.L.
110-234, section 301 of P.L.
110-245, P.L.
110-246,
22except sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, sections
233071, 3081, and 3082 of P.L.
110-289, section 9 (e) of P.L.
110-317, P.L.
110-343,
24except sections 116, 208, 211, and 301 of division B and sections 313 and 504 of
25division C of P.L.
110-343, P.L.
111-5, except sections 1261, 1262, 1401, 1402, 1521,
11522, 1531, and 1541 of division B of P.L.
111-5, section 201 of P.L.
111-147, P.L.
2111-148, except sections 1322, 1515, 9003, 9021, 9022, 10108, 10908, and 10909 of
3P.L.
111-148, P.L.
111-152, except section 1407 of P.L.
111-152, P.L.
111-203, except
4section 1601 of P.L.
111-203, P.L.
111-226, except sections 215 and 217 of P.L.
5111-226, P.L.
111-240, except sections 2014, 2043, 2111, 2112, and 2113 of P.L.
6111-240, and P.L.
111-312,
and as amended by section 902 of P.L. 112-240, and as
7indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
8100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
9101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
10102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
1113174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
12104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
13(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
14105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
15106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16,
16excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
17107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
18107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and
19202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
20108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 308, 316,
21401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 102, 201, 211,
22242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476,
23P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
241326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146
25of P.L.
109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135,
1excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
2(j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections
3101, 207, 503, and 513 of P.L.
109-222, P.L.
109-227, P.L.
109-280, sections 117, 406,
4409, 410, 412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L.
5109-432, sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-141, P.L.
6110-142, excluding sections 2, 3, and 5 of P.L.
110-142, P.L.
110-172, excluding
7sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172, P.L.
110-245, excluding section
8301 of P.L.
110-245, sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
9110-246, P.L.
110-289, excluding sections 3071, 3081, and 3082 of P.L.
110-289, P.L.
10110-317, excluding section 9 (e) of P.L.
110-317, sections 116, 208, 211, and 301 of
11division B and sections 313 and 504 of division C of P.L.
110-343, P.L.
110-351, P.L.
12110-458, sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B
13of P.L.
111-5, P.L.
111-92, P.L.
111-147, excluding section 201 of P.L.
111-147,
14sections 1322, 1515, 9003, 9021, 9022, 10108, 10908, and 10909 of P.L.
111-148,
15section 1407 of P.L.
111-152, P.L.
111-192, section 1601 of P.L.
111-203, sections 215
16and 217 of P.L.
111-226, sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240,
17and P.L.
111-325, and section 902 of P.L. 112-240, applies for Wisconsin purposes at
18the same time as for federal purposes, except that changes made by section 209 of
19P.L.
109-222, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division A
20and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232, 8234, and
218236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3, and 5 of P.L.
22110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
23sections 110 and 113 of P.L.
110-245, sections 15312, 15313, 15314, and 15342 of P.L.
24110-246, sections 3031, 3032, 3033, 3041, 3051, 3052, 3061, and 3092 of P.L.
25110-289, P.L.
110-317, excluding section 9 (e) of P.L.
110-317, sections 116, 208, and
1211 of division B and section 504 of division C of P.L.
110-343, section 14 of P.L.
2111-92, sections 531, 532, and 533 of P.L.
111-147, sections 10908 and 10909 of P.L.
3111-148, and section 2043 of P.L.
111-240 do not apply for taxable years beginning
4before January 1, 2011. Amendments to the Internal Revenue Code enacted after
5December 31, 2010, do not apply to this subdivision with respect to taxable years that
6begin after December 31, 2010
, and before January 1, 2013, except that changes to
7the Internal Revenue Code made by section 902 of P.L. 112-240, and changes that
8indirectly affect the provisions applicable to this subchapter made by section 902 of
9P.L. 112-240, apply for Wisconsin purposes at the same time as for federal purposes.
AB40-ASA1,1383b
10Section 1383b. 71.26 (3) (q) of the statutes is amended to read:
AB40-ASA1,780,1211
71.26
(3) (q)
Sections For taxable years beginning before January 1, 2014,
12sections 613 and 613A (relating to percentage depletion) are excluded.
AB40-ASA1,1383d
13Section 1383d. 71.26 (3) (y) 1. of the statutes is renumbered 71.26 (3) (y) and
14amended to read:
AB40-ASA1,780,2515
71.26
(3) (y)
Except as provided in subd. 2. For taxable years beginning before
16January 1, 2014, a corporation shall compute amortization and depreciation under
17the federal Internal Revenue Code as amended to December 31, 2000, except that
18property first placed in service by the taxpayer on or after January 1, 1983, but
19before January 1, 1987, that, under s. 71.04 (15) (b) and (br), 1985 stats., is required
20to be depreciated under the Internal Revenue Code as amended to
21December 31, 1980, and property first placed in service in taxable year 1981 or
22thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985 stats., is
23required to be depreciated under the Internal Revenue Code as amended to
24December 31, 1980, shall continue to be depreciated under the Internal Revenue
25Code as amended to December 31, 1980.
AB40-ASA1,1383e
1Section 1383e. 71.26 (3) (y) 2. of the statutes is repealed.
AB40-ASA1,1383f
2Section 1383f. 71.26 (3) (ym) of the statutes is created to read:
AB40-ASA1,781,83
71.26
(3) (ym) Starting with the first taxable year beginning after December
431, 2013, and for each of the next 4 taxable years, a corporation shall subtract 20
5percent of the amount determined by subtracting the combined federal adjusted
6basis of all depreciated or amortized assets as of the last day of the taxable year
7beginning in 2013 that are also being depreciated or amortized for Wisconsin from
8the combined Wisconsin adjusted basis of those assets on the same day.
AB40-ASA1,1383j
9Section 1383j. 71.28 (1) (d) of the statutes is created to read:
AB40-ASA1,781,1310
71.28
(1) (d) No credit may be claimed under this subsection for taxable years
11beginning after December 31, 2013. Credits under this subsection for taxable years
12that begin before January 1, 2014, may be carried forward to taxable years that begin
13after December 31, 2013.
AB40-ASA1,1384
14Section
1384. 71.28 (1dj) (am) 4h. of the statutes is amended to read:
AB40-ASA1,781,2015
71.28
(1dj) (am) 4h. Modify section 51 (a) of the
internal revenue code Internal
16Revenue Code so that the amount of the credit is 25% of the qualified first-year
17wages if the wages are paid to an applicant for a Wisconsin
works Works employment
18position for service either in an unsubsidized position or in a trial job under s. 49.147
19(3)
, 2011 stats., and so that the amount of the credit is 20% of the qualified first-year
20wages if the wages are not paid to such an applicant.
AB40-ASA1,1385
21Section
1385. 71.28 (1dx) (a) 4. of the statutes is amended to read:
AB40-ASA1,782,322
71.28
(1dx) (a) 4. "Full-time job"
means a regular, nonseasonal full-time
23position in which an individual, as a condition of employment, is required to work at
24least 2,080 hours per year, including paid leave and holidays, and for which the
25individual receives pay that is equal to at least 150% of the federal minimum wage
1and receives benefits that are not required by federal or state law. "Full-time job"
2does not include initial training before an employment position begins has the
3meaning given in s. 238.30 (2m).
AB40-ASA1,1386
4Section
1386. 71.28 (1dx) (a) 5. of the statutes is amended to read:
AB40-ASA1,782,185
71.28
(1dx) (a) 5. "Member of a targeted group" means a person who resides
6in an area designated by the federal government as an economic revitalization area,
7a person who is employed in an unsubsidized job but meets the eligibility
8requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position,
9a person who is employed in a trial job, as defined in s. 49.141 (1) (n),
2011 stats., or
10in a
real work, real pay project position under s. 49.147 (3m) trial employment match
11program job, as defined in s. 49.141 (1) (n), a person who is eligible for child care
12assistance under s. 49.155, a person who is a vocational rehabilitation referral, an
13economically disadvantaged youth, an economically disadvantaged veteran, a
14supplemental security income recipient, a general assistance recipient, an
15economically disadvantaged ex-convict, a qualified summer youth employee, as
16defined in
26 USC 51 (d) (7), a dislocated worker, as defined in
29 USC 2801 (9), or
17a food stamp recipient, if the person has been certified in the manner under sub. (1dj)
18(am) 3. by a designated local agency, as defined in sub. (1dj) (am) 2.
AB40-ASA1,1387
19Section
1387. 71.28 (1dx) (b) 2. of the statutes is amended to read:
AB40-ASA1,782,2420
71.28
(1dx) (b) 2. The amount determined by multiplying the amount
21determined under s. 238.385 (1) (b) or s. 560.785 (1) (b), 2009 stats., by the number
22of full-time jobs created in a development zone and filled by a member of a targeted
23group and by then subtracting the subsidies paid under s. 49.147 (3) (a)
or the
24subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1,1388
25Section
1388. 71.28 (1dx) (b) 3. of the statutes is amended to read:
AB40-ASA1,783,5
171.28
(1dx) (b) 3. The amount determined by multiplying the amount
2determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
3of full-time jobs created in a development zone and not filled by a member of a
4targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a)
or
5the subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1,1389
6Section
1389. 71.28 (1dx) (b) 4. of the statutes is amended to read:
AB40-ASA1,783,147
71.28
(1dx) (b) 4. The amount determined by multiplying the amount
8determined under s. 238.385 (1) (bm) or s. 560.785 (1) (bm), 2009 stats., by the
9number of full-time jobs retained, as provided in the rules under s. 238.385 or s.
10560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub.
11(1dj), in an enterprise development zone under s. 238.397 or s. 560.797, 2009 stats.,
12and for which significant capital investment was made and by then subtracting the
13subsidies paid under s. 49.147 (3) (a)
or the subsidies and reimbursements paid
14under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1,1390
15Section
1390. 71.28 (1dx) (b) 5. of the statutes is amended to read:
AB40-ASA1,783,2216
71.28
(1dx) (b) 5. The amount determined by multiplying the amount
17determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
18of full-time jobs retained, as provided in the rules under s. 238.385 or s. 560.785,
192009 stats., excluding jobs for which a credit has been claimed under sub. (1dj), in
20a development zone and not filled by a member of a targeted group and by then
21subtracting the subsidies paid under s. 49.147 (3) (a)
or the subsidies and
22reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40-ASA1,1390b
23Section 1390b. 71.28 (3h) (b) of the statutes is amended to read:
AB40-ASA1,784,524
71.28
(3h) (b)
Filing claims. Subject to the limitations provided in this
25subsection, for taxable years beginning after December 31, 2011, and before January
11,
2015 2014, for a claimant who produces at least 2,500,000 gallons of biodiesel fuel
2in this state in the taxable year, a claimant may claim as a credit against the tax
3imposed under s. 71.23, up to the amount of the tax, an amount that is equal to the
4number of gallons of biodiesel fuel produced by the claimant in this state in the
5taxable year multiplied by 10 cents.
AB40-ASA1,1390c
6Section 1390c. 71.28 (3h) (d) of the statutes is renumbered 71.28 (3h) (d) 1.
AB40-ASA1,1390d
7Section 1390d. 71.28 (3h) (d) 2. of the statutes is created to read:
AB40-ASA1,784,118
71.28
(3h) (d) 2. No credit may be claimed under this subsection for taxable
9years beginning after December 31, 2013. Credits under this subsection for taxable
10years that begin before January 1, 2014, may be carried forward to taxable years that
11begin after December 31, 2013.
AB40-ASA1,1390e
12Section 1390e. 71.28 (3n) (a) 2. (intro.) of the statutes is amended to read:
AB40-ASA1,784,1813
71.28
(3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the
14construction, the improvement, or the acquisition of buildings or facilities, or
15acquiring equipment, for dairy animal housing, confinement, animal feeding, milk
16production, or waste management, including the following, if used exclusively
17related to dairy animals and if acquired and placed in service in this state during
18taxable years that begin after December 31, 2003, and before January 1,
2017 2014:
AB40-ASA1,1390f
19Section 1390f. 71.28 (3n) (a) 5. (intro.) of the statutes is amended to read:
AB40-ASA1,784,2520
71.28
(3n) (a) 5. (intro.) "Livestock farm modernization or expansion" means
21the construction, the improvement, or the acquisition of buildings or facilities, or the
22acquisition of equipment, for livestock housing, confinement, feeding, or waste
23management, including the following, if used exclusively related to livestock and if
24acquired and placed in service in this state during taxable years that begin after
25December 31, 2005, and before January 1,
2017 2014:
AB40-ASA1,1390g
1Section 1390g. 71.28 (3n) (a) 6. b. of the statutes is amended to read:
AB40-ASA1,785,52
71.28
(3n) (a) 6. b. For taxable years that begin after December 31, 2005, and
3before January 1,
2017 2014, "used exclusively," related to livestock, dairy animals,
4or both, means used to the exclusion of all other uses except for use not exceeding 5
5percent of total use.
AB40-ASA1,1390h
6Section 1390h. 71.28 (3n) (b) 1. of the statutes is amended to read:
AB40-ASA1,785,117
71.28
(3n) (b) 1. Subject to the limitations provided in this subsection, for
8taxable years that begin after December 31, 2003, and before January 1,
2017 2014,
9a claimant may claim as a credit against the tax imposed under s. 71.23 an amount
10equal to 10% of the amount the claimant paid in the taxable year for dairy farm
11modernization or expansion related to the operation of the claimant's dairy farm.
AB40-ASA1,1390i
12Section 1390i. 71.28 (3n) (b) 2. of the statutes is amended to read:
AB40-ASA1,785,1813
71.28
(3n) (b) 2. Subject to the limitations provided in this subsection, for
14taxable years that begin after December 31, 2005, and before January 1,
2017 2014,
15a claimant may claim as a credit against the tax imposed under s. 71.23 an amount
16equal to 10 percent of the amount the claimant paid in the taxable year for livestock
17farm modernization or expansion related to the operation of the claimant's livestock
18farm.
AB40-ASA1,1390j
19Section 1390j. 71.28 (3n) (g) of the statutes is created to read:
AB40-ASA1,785,2320
71.28
(3n) (g) No credit may be claimed under this subsection for taxable years
21beginning after December 31, 2013. Credits under this subsection for taxable years
22that begin before January 1, 2014, may be carried forward to taxable years that begin
23after December 31, 2013.
AB40-ASA1,1390k
24Section 1390k. 71.28 (3p) (a) 3. (intro.) of the statutes is amended to read:
AB40-ASA1,786,8
171.28
(3p) (a) 3. (intro.) "Dairy manufacturing modernization or expansion"
2means constructing, improving, or acquiring buildings or facilities, or acquiring
3equipment, for dairy manufacturing, including the following, if used exclusively for
4dairy manufacturing and if acquired and placed in service in this state during
5taxable years that begin after December 31, 2006, and before January 1,
2015 2014,
6or, in the case of dairy cooperatives, if acquired and placed in service in this state
7during taxable years that begin after December 31, 2008, and before January 1,
2017 82014:
AB40-ASA1,1390L
9Section 1390L. 71.28 (3p) (b) of the statutes is amended to read:
AB40-ASA1,786,1610
71.28
(3p) (b)
Filing claims. Subject to the limitations provided in this
11subsection and s. 93.535 or s. 560.207, 2009 stats., except as provided in par. (c) 5.,
12for taxable years beginning after December 31, 2006, and before January 1,
2015 132014, a claimant may claim as a credit against the taxes imposed under s. 71.23, up
14to the amount of the tax, an amount equal to 10 percent of the amount the claimant
15paid in the taxable year for dairy manufacturing modernization or expansion related
16to the claimant's dairy manufacturing operation.
AB40-ASA1,1390m
17Section 1390m. 71.28 (3p) (c) 5. of the statutes is amended to read:
AB40-ASA1,787,218
71.28
(3p) (c) 5. A claimant who is a member of a dairy cooperative may claim
19the credit in the year after the year in which the dairy manufacturing modernization
20or expansion occurs, based on amounts described under par. (b) that are paid by the
21dairy cooperative, for taxable years beginning after December 31, 2008, and before
22January 1,
2018 2014. The amount of the credits computed and not passed through
23by a partnership, limited liability company, or tax-option corporation that has added
24that amount to the partnership's, company's, or tax-option corporation's income
1under s. 71.21 (4) or 71.34 (1k) (g) shall be added to a claimant's income in the year
2in which the cooperative member is allowed to claim the credit.
AB40-ASA1,1390n
3Section 1390n. 71.28 (3p) (d) 4. of the statutes is created to read:
AB40-ASA1,787,54
71.28
(3p) (d) 4. No credit may be claimed under this subsection for taxable
5years beginning after December 31, 2013.
AB40-ASA1,1390p
6Section 1390p. 71.28 (3r) (a) 3. (intro.) of the statutes is amended to read:
AB40-ASA1,787,117
71.28
(3r) (a) 3. (intro.) "Meat processing modernization or expansion" means
8constructing, improving, or acquiring buildings or facilities, or acquiring equipment,
9for meat processing, including the following, if used exclusively for meat processing
10and if acquired and placed in service in this state during taxable years that begin
11after December 31, 2008, and before January 1,
2017
2014:
AB40-ASA1,1390q
12Section 1390q. 71.28 (3r) (b) of the statutes is amended to read:
AB40-ASA1,787,1913
71.28
(3r) (b)
Filing claims. Subject to the limitations provided in this
14subsection and s. 93.545 or s. 560.208, 2009 stats., for taxable years beginning after
15December 31, 2008, and before January 1,
2017 2014, a claimant may claim as a
16credit against the taxes imposed under s. 71.23, up to the amount of the tax, an
17amount equal to 10 percent of the amount the claimant paid in the taxable year for
18meat processing modernization or expansion related to the claimant's meat
19processing operation.
AB40-ASA1,1390r
20Section 1390r. 71.28 (3r) (d) 3. of the statutes is created to read:
AB40-ASA1,787,2221
71.28
(3r) (d) 3. No credit may be claimed under this subsection for taxable
22years beginning after December 31, 2013.
AB40-ASA1,1390rd
23Section 1390rd. 71.28 (3rm) (b) of the statutes is amended to read:
AB40-ASA1,788,524
71.28
(3rm) (b)
Filing claims. Subject to the limitations provided in this
25subsection and s. 93.547 or s. 560.209, 2009 stats., for taxable years beginning after
1December 31, 2009, and before January 1,
2016
2015, a claimant may claim as a
2credit against the taxes imposed under s. 71.23, up to the amount of the tax, an
3amount equal to 10 percent of the amount the claimant paid in the taxable year for
4equipment that is used primarily to harvest or process woody biomass that is used
5as fuel or as a component of fuel.
AB40-ASA1,1390rf
6Section 1390rf. 71.28 (3rm) (d) 3. of the statutes is created to read:
AB40-ASA1,788,87
71.28
(3rm) (d) 3. No credit may be claimed under this subsection for taxable
8years beginning after December 31, 2014.
AB40-ASA1,1390s
9Section 1390s. 71.28 (3rn) (a) 4. (intro.) of the statutes is amended to read:
AB40-ASA1,788,1510
71.28
(3rn) (a) 4. (intro.) "Food processing plant or food warehouse
11modernization or expansion" means constructing, improving, or acquiring buildings
12or facilities, or acquiring equipment, for food processing or food warehousing,
13including the following, if used exclusively for food processing or food warehousing
14and if acquired and placed in service in this state during taxable years that begin
15after December 31, 2009, and before January 1,
2017
2014:
AB40-ASA1,1390t
16Section 1390t. 71.28 (3rn) (b) of the statutes is amended to read:
AB40-ASA1,788,2317
71.28
(3rn) (b)
Filing claims. Subject to the limitations provided in this
18subsection and s. 93.54 or s. 560.2056, 2009 stats., for taxable years beginning after
19December 31, 2009, and before January 1,
2017 2014, a claimant may claim as a
20credit against the tax imposed under s. 71.23, up to the amount of the tax, an amount
21equal to 10 percent of the amount the claimant paid in the taxable year for food
22processing or food warehousing modernization or expansion related to the operation
23of the claimant's food processing plant or food warehouse.
AB40-ASA1,1390u
24Section 1390u. 71.28 (3rn) (d) 3. of the statutes is created to read:
AB40-ASA1,789,2
171.28
(3rn) (d) 3. No credit may be claimed under this subsection for taxable
2years beginning after December 31, 2013.
AB40-ASA1,1391
3Section
1391. 71.28 (3w) (b) 1. a. of the statutes is amended to read:
AB40-ASA1,789,124
71.28
(3w) (b) 1. a. The number of full-time employees whose annual wages
5are greater than
$20,000 the amount determined by multiplying 2,080 by 150
6percent of the federal minimum wage in a tier I county or municipality or greater
7than $30,000 in a tier II county or municipality and who the claimant employed in
8the enterprise zone in the taxable year, minus the number of full-time employees
9whose annual wages were greater than
$20,000 the amount determined by
10multiplying 2,080 by 150 percent of the federal minimum wage in a tier I county or
11municipality or greater than $30,000 in a tier II county or municipality and who the
12claimant employed in the area that comprises the enterprise zone in the base year.
AB40-ASA1,1392
13Section
1392. 71.28 (3w) (b) 1. b. of the statutes is amended to read:
AB40-ASA1,789,2214
71.28
(3w) (b) 1. b. The number of full-time employees whose annual wages
15are greater than
$20,000 the amount determined by multiplying 2,080 by 150
16percent of the federal minimum wage in a tier I county or municipality or greater
17than $30,000 in a tier II county or municipality and who the claimant employed in
18the state in the taxable year, minus the number of full-time employees whose annual
19wages were greater than
$20,000 the amount determined by multiplying 2,080 by
20150 percent of the federal minimum wage in a tier I county or municipality or greater
21than $30,000 in a tier II county or municipality and who the claimant employed in
22the state in the base year.
AB40-ASA1,1393
23Section
1393. 71.28 (3w) (b) 2. of the statutes is amended to read:
AB40-ASA1,790,824
71.28
(3w) (b) 2. Determine the claimant's average zone payroll by dividing
25total wages for full-time employees whose annual wages are greater than
$20,000
1the amount determined by multiplying 2,080 by 150 percent of the federal minimum
2wage in a tier I county or municipality or greater than $30,000 in a tier II county or
3municipality and who the claimant employed in the enterprise zone in the taxable
4year by the number of full-time employees whose annual wages are greater than
5$20,000 the amount determined by multiplying 2,080 by 150 percent of the federal
6minimum wage in a tier I county or municipality or greater than $30,000 in a tier II
7county or municipality and who the claimant employed in the enterprise zone in the
8taxable year.
AB40-ASA1,1394
9Section
1394. 71.28 (3w) (b) 3. of the statutes is amended to read:
AB40-ASA1,790,1410
71.28
(3w) (b) 3. For employees in a tier I county or municipality, subtract
11$20,000 the amount determined by multiplying 2,080 by 150 percent of the federal
12minimum wage from the amount determined under subd. 2. and for employees in a
13tier II county or municipality, subtract $30,000 from the amount determined under
14subd. 2.
AB40-ASA1,1395
15Section
1395. 71.28 (3w) (bm) 2. of the statutes is amended to read:
AB40-ASA1,791,416
71.28
(3w) (bm) 2. In addition to the credits under par. (b) and subds. 1., 3., and
174., and subject to the limitations provided in this subsection and s. 238.399 or s.
18560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under
19s. 71.23 an amount equal to the percentage, as determined under s. 238.399 or s.
20560.799, 2009 stats., not to exceed 7 percent, of the claimant's zone payroll paid in
21the taxable year to all of the claimant's full-time employees whose annual wages are
22greater than
$20,000 the amount determined by multiplying 2,080 by 150 percent
23of the federal minimum wage in a tier I county or municipality, not including the
24wages paid to the employees determined under par. (b) 1., or greater than $30,000
25in a tier II county or municipality, not including the wages paid to the employees
1determined under par. (b) 1., and who the claimant employed in the enterprise zone
2in the taxable year, if the total number of such employees is equal to or greater than
3the total number of such employees in the base year. A claimant may claim a credit
4under this subdivision for no more than 5 consecutive taxable years.
AB40-ASA1,1395am
5Section 1395am. 71.28 (4) (i) of the statutes is amended to read:
