SB30: Bill Text

SB30,545,2 e. For purposes of subd. 11. a., the provisions of federal public laws that directly or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply for Wisconsin purposes at the same time as for federal purposes, except that changes made by section 4007 (b) of P.L. 114-41, section 1102 of P.L. 114-74, sections 105, 111, 113 to 115, 133, 301, 302, 304, 305, 308, 311, 313 to 323, 325, 331, and 343 to 345 of division Q of P.L. 114-113 first apply for taxable years beginning after December 31, 2016.

SB30,1083 Section 1083 . 71.26 (4) (a) of the statutes is amended to read:

SB30,545,20 71.26 (4) (a) Except as provided in par. (b) and s. 71.80 (25), a corporation, except a tax-option corporation or an insurer to which s. 71.45 (4) applies, may offset against its Wisconsin net business income any Wisconsin net business loss sustained incurred in any of the next 20 immediately preceding taxable years, if the corporation was subject to taxation under this chapter in the taxable year in which the loss was sustained incurred, to the extent not offset by other items of Wisconsin income in the loss year and by Wisconsin net business income of any year between the loss year and the taxable year for which an offset is claimed. For purposes of this subsection, Wisconsin net business income or loss shall consist of all the income attributable to the operation of a trade or business in this state, less the business expenses allowed as deductions in computing net income. The Wisconsin net business income or loss of corporations engaged in business within and without the state shall be determined under s. 71.25 (6) and (10) to (12). Nonapportionable losses having a Wisconsin situs under s. 71.25 (5) (b) shall be included in Wisconsin net business loss; and nonapportionable income having a Wisconsin situs under s. 71.25 (5) (b), whether taxable or exempt, shall be included in other items of Wisconsin income and Wisconsin net business income for purposes of this subsection.

SB30,1084 Section 1084 . 71.28 (3q) (d) 2. of the statutes is amended to read:

SB30,546,5 71.28 (3q) (d) 2. If the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.23, the amount of the claim not used to offset the tax due shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (bb), except that the amounts certified under this subdivision for taxable years beginning after December 31, 2009, and before January 1, 2012, shall be paid in taxable years beginning after December 31, 2011. Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subdivision.

SB30,1085 Section 1085 . 71.28 (3w) (c) 1. of the statutes is amended to read:

SB30,546,13 71.28 (3w) (c) 1. If the allowable amount of the claim under this subsection exceeds the taxes otherwise due on the claimant's income under s. 71.23, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (co). Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subdivision.

SB30,1086 Section 1086 . 71.28 (3y) (d) 2. of the statutes is amended to read:

SB30,546,20 71.28 (3y) (d) 2. If the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.23, the amount of the claim not used to offset the tax due shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (bg). Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subdivision.

SB30,1087 Section 1087 . 71.28 (5r) (a) 2. of the statutes is amended to read:

SB30,546,23 71.28 (5r) (a) 2. “Course of instruction" has the meaning given in s. 38.50 440.52 (1) (c).

SB30,1088 Section 1088 . 71.28 (5r) (a) 6. b. of the statutes is amended to read:

SB30,547,2 71.28 (5r) (a) 6. b. A school approved under s. 38.50 440.52, if the delivery of education occurs in this state.

SB30,1089 Section 1089 . 71.28 (6) (i) of the statutes is created to read:

SB30,547,9 71.28 (6) (i) 1. a. Except as provided in subd. 1. b., if the activity for which a person claims a credit under this subsection creates fewer full-time jobs than projected under s. 238.17 (3) (a), as reported to the department under s. 238.17 (4), the person who claimed the credit shall repay to the department any amount of the credit claimed, as determined by the department, in proportion to the number of full-time jobs created compared to the number of full-time jobs projected.

SB30,547,11 b. For purposes of subd. 1. a., the person who initially sells or transfers a credit under par. (h) is responsible for repaying the credit.

SB30,547,16 2. If a person who claims a credit under this subsection and a credit under section 47 of the Internal Revenue Code for the same qualified rehabilitation expenditures is required to repay any amount of the credit claimed under section 47 of the Internal Revenue Code, the person shall repay to the department a proportionate amount of the credit claimed under this subsection.

SB30,1090 Section 1090 . 71.29 (8) (a) of the statutes is amended to read:

SB30,547,20 71.29 (8) (a) The 3rd 4th month of the taxable year, except that a taxpayer whose taxable year begins in April shall pay the installment in the 3rd month of the taxable year.

SB30,1091 Section 1091 . 71.34 (1g) (b) of the statutes is repealed.

SB30,1092 Section 1092 . 71.34 (1g) (j) 1. of the statutes is amended to read:

SB30,548,2 71.34 (1g) (j) 1. For taxable years beginning after December 31, 2013, and before January 1, 2017, for tax option corporations, “Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2013, except as provided in subds. 2., 3., and 5. and subject to subd. 4.

SB30,1093 Section 1093 . 71.34 (1g) (j) 3. i. of the statutes is created to read:

SB30,548,4 71.34 (1g) (j) 3. i. Section 2004 of P.L. 114-41.

SB30,1094 Section 1094 . 71.34 (1g) (j) 3. j. of the statutes is created to read:

SB30,548,6 71.34 (1g) (j) 3. j. Sections 503 and 504 of P.L. 114-74.

SB30,1095 Section 1095 . 71.34 (1g) (j) 3. k. of the statutes is created to read:

SB30,548,9 71.34 (1g) (j) 3. k. Sections 103, 104, 124, 168, 184, 185, 190, 204, 303, 306, 336, and 341 of division Q of P.L. 114-113.

SB30,1096 Section 1096 . 71.34 (1g) (j) 3. L. of the statutes is created to read:

SB30,548,11 71.34 (1g) (j) 3. L. P.L. 114-239.

SB30,1097 Section 1097 . 71.34 (1g) (k) of the statutes is created to read:

SB30,548,16 71.34 (1g) (k) 1. For taxable years beginning after December 31, 2016, for tax option corporations, “Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2016, except as provided in subds. 2., 3., and 5. and subject to subd. 4.

SB30,549,6 2. For purposes of this paragraph, “Internal Revenue Code" does not include the following provisions of federal public laws for taxable years beginning after December 31, 2016: section 13113 of P.L 103-66; sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422 of P.L 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; sections 104 and 307 of P.L. 109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A, section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251, 1501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L. 111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L. 111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324, 326, 327, and 411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113; and sections 112, 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113.

SB30,549,8 3. For purposes of this paragraph, “Internal Revenue Code" does not include amendments to the federal Internal Revenue Code enacted after December 31, 2016.

SB30,549,15 4. For purposes of this paragraph, the provisions of federal public laws that directly or indirectly affect the Internal Revenue Code, as defined in this paragraph, apply for Wisconsin purposes at the same time as for federal purposes, except that changes made by section 4007 (b) of P.L. 114-41, section 1102 of P.L. 114-74, sections 105, 111, 113 to 115, 133, 301, 302, 304, 305, 308, 311, 313 to 323, 325, 331, and 343 to 345 of division Q of P.L. 114-113 first apply for taxable years beginning after December 31, 2016.

SB30,549,19 5. For purposes of this paragraph, section 1366 (f) of the Internal Revenue Code (relating to pass-through of items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375 of the Internal Revenue Code.

SB30,1098 Section 1098 . 71.42 (2) (b) of the statutes is repealed.

SB30,1099 Section 1099 . 71.42 (2) (j) 1. of the statutes is amended to read:

SB30,549,25 71.42 (2) (j) 1. For taxable years beginning after December 31, 2013, and before January 1, 2017, “Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2013, except as provided in subds. 2. to 4. and subject to subd. 5.

SB30,1100 Section 1100. 71.42 (2) (j) 3. i. of the statutes is created to read:

SB30,550,2 71.42 (2) (j) 3. i. Section 2004 of P.L. 114-41.

SB30,1101 Section 1101 . 71.42 (2) (j) 3. j. of the statutes is created to read:

SB30,550,4 71.42 (2) (j) 3. j. Sections 503 and 504 of P.L. 114-74.

SB30,1102 Section 1102 . 71.42 (2) (j) 3. k. of the statutes is created to read:

SB30,550,7 71.42 (2) (j) 3. k. Sections 103, 104, 124, 168, 184, 185, 190, 204, 303, 306, 336, and 341 of division Q of P.L. 114-113.

SB30,1103 Section 1103 . 71.42 (2) (j) 3. L. of the statutes is created to read:

SB30,550,9 71.42 (2) (j) 3. L. P.L. 114-239.

SB30,1104 Section 1104 . 71.42 (2) (k) of the statutes is created to read:

SB30,550,13 71.42 (2) (k) 1. For taxable years beginning after December 31, 2016, “Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2016, except as provided in subds. 2. to 4. and subject to subd. 5.

SB30,551,3 2. For purposes of this paragraph, “Internal Revenue Code" does not include the following provisions of federal public laws for taxable years beginning after December 31, 2016: section 13113 of P.L 103-66; sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422 of P.L 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; sections 104 and 307 of P.L. 109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A, section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251, 1501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L. 111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L. 111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324, 326, 327, and 411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113; and sections 112, 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113.

SB30,551,5 3. For purposes of this paragraph, “Internal Revenue Code" does not include amendments to the federal Internal Revenue Code enacted after December 31, 2016.

SB30,551,7 4. For purposes of this paragraph, “Internal Revenue Code" does not include section 847 of the federal Internal Revenue Code.

SB30,551,14 5. For purposes of this paragraph, the provisions of federal public laws that directly or indirectly affect the Internal Revenue Code, as defined in this paragraph, apply for Wisconsin purposes at the same time as for federal purposes, except that changes made by section 4007 (b) of P.L. 114-41, section 1102 of P.L. 114-74, sections 105, 111, 113 to 115, 133, 301, 302, 304, 305, 308, 311, 313 to 323, 325, 331, and 343 to 345 of division Q of P.L. 114-113 first apply for taxable years beginning after December 31, 2016.

SB30,1105 Section 1105 . 71.44 (1) (a) of the statutes is amended to read:

SB30,552,9 71.44 (1) (a) Every corporation, except corporations a corporation all of whose income is exempt from taxation and except as provided in sub. (1m), shall furnish to the department a true and accurate statement, on or before March 15 of each year, except that returns for fiscal years ending on some other date than December 31 shall be furnished on or before the 15th day of the 3rd month following the close of such fiscal year and except that returns for less than a full taxable year shall be furnished on or before the date applicable on which the corporation is required to file for federal income taxes tax purposes, not including any extension, under the internal revenue code Internal Revenue Code, in such the manner and form and setting forth such the facts as the department deems necessary to enforce this chapter. Every corporation that is required to furnish a statement under this paragraph and that has income that is not taxable under this subchapter shall include with its the corporation's statement a report that identifies each item of its the corporation's nontaxable income. The statement shall be subscribed by the president, vice president, treasurer, assistant treasurer, chief accounting officer, or any other officer duly authorized so to act. In the case of a return made for a corporation by a fiduciary, the fiduciary shall subscribe the return. The fact that an individual's name is subscribed on the return shall be prima facie evidence that the individual is authorized to subscribe the return on behalf of the corporation.

SB30,1106 Section 1106 . 71.44 (1m) of the statutes is amended to read:

SB30,552,17 71.44 (1m) Unrelated business income. Every corporation subject to a tax on unrelated business income under s. 71.26 (1) (a), if that corporation is required to file for federal income tax purposes, shall furnish to the department of revenue a true and accurate statement on or before the date on or before which it the corporation is required to file for federal income tax purposes, not including any extension, under the Internal Revenue Code. The requirements about manner, form , and subscription under sub. (1) apply to statements under this subsection.

SB30,1107 Section 1107 . 71.44 (4) (b) of the statutes is amended to read:

SB30,552,21 71.44 (4) (b) Corporation franchise and income taxes not paid on or before the 15th day of the 3rd month following the close of the taxable year deadline for filing returns described in sub. (1) or (1m) shall be deemed delinquent.

SB30,1108 Section 1108 . 71.45 (4) (a) of the statutes is amended to read:

SB30,553,8 71.45 (4) (a) Except as provided in par. (b) and s. 71.80 (25), insurers computing tax under this subchapter may subtract from Wisconsin net income any Wisconsin net business loss sustained incurred in any of the next 20 immediately preceding taxable years, if the insurer was subject to taxation under this chapter in the taxable year in which the loss was incurred, to the extent not offset by Wisconsin net business income of any year between the loss year and the taxable year for which an offset is claimed and computed without regard to sub. (2) (a) 8. and 9. and this subsection and limited to the amount of net income, but no loss incurred for a taxable year before taxable year 1987 by a nonprofit service plan of sickness care under ch. 148, or dental care under s. 447.13 may be treated as a net business loss of the successor service insurer under ch. 613 operating by virtue of s. 148.03 or 447.13.

SB30,1109 Section 1109 . 71.47 (3q) (d) 2. of the statutes is amended to read:

SB30,553,18 71.47 (3q) (d) 2. If the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.43, the amount of the claim not used to offset the tax due shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (bb), except that the amounts certified under this subdivision for taxable years beginning after December 31, 2009, and before January 1, 2012, shall be paid in taxable years beginning after December 31, 2011. Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subdivision.

SB30,1110 Section 1110 . 71.47 (3w) (c) 1. of the statutes is amended to read:

SB30,554,2 71.47 (3w) (c) 1. If the allowable amount of the claim under this subsection exceeds the taxes otherwise due on the claimant's income under s. 71.43, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (co). Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subdivision.

SB30,1111 Section 1111 . 71.47 (3y) (d) 2. of the statutes is amended to read:

SB30,554,9 71.47 (3y) (d) 2. If the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.43, the amount of the claim not used to offset the tax due shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (bg). Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subdivision.

SB30,1112 Section 1112 . 71.47 (5r) (a) 2. of the statutes is amended to read:

SB30,554,12 71.47 (5r) (a) 2. “Course of instruction" has the meaning given in s. 38.50 440.52 (1) (c).

SB30,1113 Section 1113 . 71.47 (5r) (a) 6. b. of the statutes is amended to read:

SB30,554,15 71.47 (5r) (a) 6. b. A school approved under s. 38.50 440.52, if the delivery of education occurs in this state.

SB30,1114 Section 1114 . 71.47 (6) (i) of the statutes is created to read:

SB30,554,22 71.47 (6) (i) 1. a. Except as provided in subd. 1. b., if the activity for which a person claims a credit under this subsection creates fewer full-time jobs than projected under s. 238.17 (3) (a), as reported to the department under s. 238.17 (4), the person who claimed the credit shall repay to the department any amount of the credit claimed, as determined by the department, in proportion to the number of full-time jobs created compared to the number of full-time jobs projected.

SB30,554,24 b. For purposes of subd. 1. a., the person who initially sells or transfer a credit under par. (h) is responsible for repaying the credit.

SB30,555,5 2. If a person who claims a credit under this subsection and a credit under section 47 of the Internal Revenue Code for the same qualified rehabilitation expenditures is required to repay any amount of the credit claimed under section 47 of the Internal Revenue Code, the person shall repay to the department a proportionate amount of the credit claimed under this subsection.

SB30,1115 Section 1115 . 71.52 (1d) of the statutes is created to read:

SB30,555,10 71.52 (1d) “Disabled” means an individual who is unable to engage in any substantial gainful employment by reason of a medically determinable physical or mental impairment which has lasted or is reasonably expected to last for a continuous period of not less than 12 months.

SB30,1116 Section 1116 . 71.52 (1e) of the statutes is created to read:

SB30,555,14 71.52 (1e) “Disqualified loss" means the sum of the following amounts, exclusive of net gains from the sale or exchange of capital or business assets and exclusive of net profits:

SB30,555,15 (a) Net loss from sole proprietorships.

SB30,555,16 (b) Net capital loss.

SB30,555,18 (c) Net loss from sales of business property, excluding loss from involuntary conversions.

SB30,555,20 (d) Net loss from rental real estate, royalties, partnerships, tax-option S corporations, trusts, estates, and real estate mortgage investment conduits.

SB30,555,21 (e) Net farm loss.

SB30,1117 Section 1117 . 71.52 (1m) of the statutes is created to read:

SB30,555,24 71.52 (1m) “Farmer,” “farming,” and “farm premises” have the meanings given in s. 102.04 (3).

SB30,1118 Section 1118 . 71.52 (6) of the statutes is amended to read:

SB30,557,14 71.52 (6) “Income" means the sum of Wisconsin adjusted gross income and the following amounts, to the extent not included in Wisconsin adjusted gross income: maintenance payments (except foster care maintenance and supplementary payments excludable under section 131 of the internal revenue code), support money, cash public assistance (not including credit granted under this subchapter and amounts under s. 46.27), cash benefits paid by counties under s. 59.53 (21), the gross amount of any pension or annuity (including railroad retirement benefits, all payments received under the federal social security act and veterans disability pensions), nontaxable interest received from the federal government or any of its instrumentalities, nontaxable interest received on state or municipal bonds, worker's compensation, unemployment insurance, the gross amount of “loss of time" insurance, compensation and other cash benefits received from the United States for past or present service in the armed forces, scholarship and fellowship gifts or income, capital gains, gain on the sale of a personal residence excluded under section 121 of the internal revenue code, dividends, income of a nonresident or part-year resident who is married to a full-year resident, housing allowances provided to members of the clergy, the amount by which a resident manager's rent is reduced, nontaxable income of an American Indian, nontaxable income from sources outside this state and nontaxable deferred compensation. Intangible drilling costs, depletion allowances and depreciation, including first-year depreciation allowances under section 179 of the internal revenue code, amortization, contributions to individual retirement accounts under section 219 of the internal revenue code, contributions to Keogh plans, net operating loss carry-backs and carry-forwards and, capital loss carry-forwards , and disqualified losses greater than $15,000 deducted in determining Wisconsin adjusted gross income shall be added to “income". “Income" does not include gifts from natural persons, cash reimbursement payments made under title XX of the federal social security act, surplus food or other relief in kind supplied by a governmental agency, the gain on the sale of a personal residence deferred under section 1034 of the internal revenue code or nonrecognized gain from involuntary conversions under section 1033 of the internal revenue code. Amounts not included in adjusted gross income but added to “income" under this subsection in a previous year and repaid may be subtracted from income for the year during which they are repaid. Scholarship and fellowship gifts or income that are included in Wisconsin adjusted gross income and that were added to household income for purposes of determining the credit under this subchapter in a previous year may be subtracted from income for the current year in determining the credit under this subchapter. A marital property agreement or unilateral statement under ch. 766 has no effect in computing “income" for a person whose homestead is not the same as the homestead of that person's spouse.

SB30,1119 Section 1119 . 71.54 (1) (g) (intro.) of the statutes is amended to read: