SB389-SSA1,22,43b. Changes made by section 1201 of P.L. 108-173 and section 307 of P.L.
4109-432 first apply for taxable years beginning after December 31, 2010.
SB389-SSA1,12 5Section 12. 71.22 (4m) (n) of the statutes is created to read:
SB389-SSA1,22,106 71.22 (4m) (n) 1. For taxable years beginning after December 31, 2022,
7“Internal Revenue Code,” for corporations that are subject to a tax on unrelated
8business income under s. 71.26 (1) (a), means the federal Internal Revenue Code as
9amended to December 31, 2022, except as provided in subds. 2. and 3. and s. 71.98,
10and subject to subd. 4.
SB389-SSA1,23,1011 2. For purposes of this paragraph, “Internal Revenue Code” does not include
12the following provisions of federal public laws for taxable years beginning after
13December 31, 2022: sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422
14of P.L. 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59;
15section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; section 104 of P.L.
16109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172;
17section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A,
18section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of
19P.L. 110-343; sections 1232, 1251, 1501, and 1502 of division B of P.L. 111-5; sections
20211, 212, 213, 214, and 216 of P.L. 111-226; section 2122 of P.L. 111-240; sections 754
21and 760 of P.L. 111-312; sections 104, 318, 322, 323, 326, 327, and 411 of P.L. 112-240;
22P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113;
23sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 326,
24and 411 of division Q of P.L. 114-113; sections 11011, 11012, 13201 (a) to (e) and (g),
2513206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601, 13801, 14101, 14102,

114103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301,
214302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305, 40306, and 40412 of
3P.L. 115-123; section 101 (c) of division T of P.L. 115-141; sections 101 (d) and (e), 102,
4201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13), (17), (22) and (30), and (d)
5(1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L. 115-141; sections 104, 114,
6115, 116, 130, and 145 of division Q of P.L. 116-94; sections 2304 and 2306 of P.L.
7116-136; sections 111, 114, 115, 116, 118 (a) and (d), 133, 137, 138, and 210 of division
8EE of P.L. 116-260; sections 5003, 9041, 9673, 9675, and 9708 of P.L. 117-2; section
9307 of division P of P.L. 117-103; section 13903 (b) of P.L. 117-169; and section 4151
10of division FF of P.L. 117-328.
SB389-SSA1,23,1411 3. For purposes of this paragraph, “Internal Revenue Code” does not include
12amendments to the federal Internal Revenue Code, including provisions of federal
13public laws that directly or indirectly affect the Internal Revenue Code, enacted after
14December 31, 2022.
SB389-SSA1,23,1815 4. For purposes of this paragraph, the provisions of federal public laws that
16directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
17apply for Wisconsin purposes at the same time as for federal purposes, except as
18follows:
SB389-SSA1,23,2119 a. Changes made by sections 5001, 5002, 5005, 9623, 9624, and 9672 of P.L.
20117-2; section 2 of P.L. 117-6; and sections 80401, 80402, and 80601 of division H of
21P.L. 117-58 apply for taxable years beginning after December 31, 2022.
SB389-SSA1,23,2322b. Changes made by section 1201 of P.L. 108-173 and section 307 of P.L.
23109-432 apply for taxable years beginning after December 31, 2010.
SB389-SSA1,13 24Section 13. 71.26 (2) (b) 11. c. of the statutes is amended to read:
SB389-SSA1,24,15
171.26 (2) (b) 11. c. For purposes of subd. 11. a., “Internal Revenue Code" does
2not include the following provisions of federal public laws for taxable years beginning
3after December 31, 2016: section 13113 of P.L 103-66; sections 1, 3, 4, and 5 of P.L.
4106-519; sections 101, 102, and 422 of P.L 108-357; sections 1310 and 1351 of P.L.
5109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of
6P.L. 109-222; sections section 104 and 307 of P.L. 109-432; sections 8233 and 8235
7of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245;
8section 15351 of P.L. 110-246; section 302 of division A, section 401 of division B, and
9sections 312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232,
101241, 1251, 1501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214,
11and 216 of P.L. 111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754,
12and 760 of P.L. 111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324,
13326, 327, and 411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305
14of division P of P.L. 114-113; and sections 112, 123, 125 to 128, 143, 144, 151 to 153,
15165 to 167, 169 to 171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113.
SB389-SSA1,14 16Section 14. 71.26 (2) (b) 11. d. of the statutes is amended to read:
SB389-SSA1,24,2317 71.26 (2) (b) 11. d. For purposes of subd. 11. a., “Internal Revenue Code" does
18not include amendments to the federal Internal Revenue Code enacted after
19December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
2011025, and 13543 of P.L. 115-97; sections 40307 and 40413 of P.L. 115-123; sections
21101 (m), (n), (o), (p), and (q), 104 (a), and 109 of division U of P.L. 115-141; and section
22102 of division M and sections 110, 111, and 116 (b) of division O of P.L. 116-94; and
23section 9707 of P.L. 117-2
.
SB389-SSA1,15 24Section 15. 71.26 (2) (b) 11. e. of the statutes is amended to read:
SB389-SSA1,25,9
171.26 (2) (b) 11. e. For purposes of subd. 11. a., the provisions of federal public
2laws that directly or indirectly affect the Internal Revenue Code, as defined in this
3subdivision, apply for Wisconsin purposes at the same time as for federal purposes,
4except that changes made by section 4007 (b) of P.L. 114-41, section 1102 of P.L.
5114-74, sections 105, 111, 113 to 115, 133, 301, 302, 304, 305, 308, 311, 313 to 323,
6325, 331, and 343 to 345 of division Q of P.L. 114-113 first apply for taxable years
7beginning after December 31, 2016. Changes made by section 1201 of P.L. 108-173
8and section 307 of P.L. 109-432 first apply for taxable years beginning after
9December 31, 2010.
SB389-SSA1,16 10Section 16. 71.26 (2) (b) 12. c. of the statutes is amended to read:
SB389-SSA1,26,311 71.26 (2) (b) 12. c. For purposes of subd. 12. a., “Internal Revenue Code" does
12not include the following provisions of federal public laws for taxable years beginning
13after December 31, 2017: section 13113 of P.L. 103-66; sections 1, 3, 4, and 5 of P.L.
14106-519; sections 101, 102, and 422 of P.L. 108-357; sections 1310 and 1351 of P.L.
15109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of
16P.L. 109-222; sections section 104 and 307 of P.L. 109-432; sections 8233 and 8235
17of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245;
18section 15351 of P.L. 110-246; section 302 of division A, section 401 of division B, and
19sections 312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232,
201241, 1251, 1501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214,
21and 216 of P.L. 111-226; sections 2011 and section 2122 of P.L. 111-240; sections 753,
22754, and 760 of P.L. 111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323,
23324, 326, 327, and 411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section
24305 of division P of P.L. 114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165
25to 167, 169 to 171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113; and

1sections 11011, 11012, 13201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b),
2and (d), 13531, 13601, 13801, 14101, 14102, 14103, 14201, 14202, 14211, 14212,
314213, 14214, 14215, 14221, 14222, 14301, 14302, 14304, and 14401 of P.L. 115-97.
SB389-SSA1,17 4Section 17. 71.26 (2) (b) 12. d. of the statutes is amended to read:
SB389-SSA1,26,165 71.26 (2) (b) 12. d. For purposes of subd. 12. a., “Internal Revenue Code" does
6not include amendments to the federal Internal Revenue Code enacted after
7December 31, 2017, except that “Internal Revenue Code” includes sections 40307,
840413, and 41113 of P.L. 115-123; sections 101 (m), (n), (o), (p), and (q), 104 (a), 109,
9401 (a) (54) and (b) (15) (A), (B), and (C), 19, 20, 23, 26, 27, and 28 of division U of P.L.
10115-141; sections 102 and 104 of division M, sections 102, 103, 106, 107, 108, 109,
11110, 111, 113, 114, 115, 116, 201, 204, 205, 206, 302, 401, and 601 of division O, section
121302 of division P, and sections 131, 202 (d), and 205 of division Q of P.L. 116-94;
13sections 1106, 2202, 2203, 2204, 2205, 2206, 2307, 3608, 3609, 3701, and 3702 of
14division A of P.L. 116-136; and sections 202, 208, 209, 211, and 214 of division EE and
15sections 276 (a) and (b), 277, 278 (a), (b), (c), and (d), 280, and 285 of division N of P.L.
16116-260; and sections 9701, 9702, 9703, 9704, 9705, 9706, and 9707 of P.L. 117-2.
SB389-SSA1,18 17Section 18. 71.26 (2) (b) 12. e. of the statutes is amended to read:
SB389-SSA1,27,318 71.26 (2) (b) 12. e. For purposes of subd. 12. a., the provisions of federal public
19laws that directly or indirectly affect the Internal Revenue Code, as defined in this
20subdivision, apply for Wisconsin purposes at the same time as for federal purposes,
21except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
2213306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
23first apply for taxable years beginning after December 31, 2017. Changes made by
24section 1201 of P.L. 108-173 and section 307 of P.L. 109-432 first apply for taxable
25years beginning after December 31, 2010. Changes made by section 13113 of P.L.

1103-66; section 1241 of division B of P.L. 111-5; section 2011 of P.L. 111-240; section
2753 of P.L. 111-312; and section 324 of P.L. 112-240 first apply for taxable years
3beginning after December 31, 2018.
SB389-SSA1,19 4Section 19. 71.26 (2) (b) 13. a. of the statutes is amended to read:
SB389-SSA1,27,135 71.26 (2) (b) 13. a. For taxable years beginning after December 31, 2020, and
6before January 1, 2023,
for a corporation, conduit, or common law trust that qualifies
7as a regulated investment company, real estate mortgage investment conduit, real
8estate investment trust, or financial asset securitization investment trust under the
9Internal Revenue Code, “net income" means the federal regulated investment
10company taxable income, federal real estate mortgage investment conduit taxable
11income, federal real estate investment trust, or financial asset securitization
12investment trust taxable income of the corporation, conduit, or trust as determined
13under the Internal Revenue Code.
SB389-SSA1,20 14Section 20. 71.26 (2) (b) 13. d. of the statutes is amended to read:
SB389-SSA1,27,1915 71.26 (2) (b) 13. d. For purposes of subd. 13. a., “Internal Revenue Code" does
16not include amendments to the federal Internal Revenue Code enacted after
17December 31, 2020, except that “Internal Revenue Code” includes sections 9671,
189701, 9702, 9703, 9704, 9705, 9706, and 9707 of P.L. 117-2; and sections 80501,
1980504, and 80602 of division H of P.L. 117-58
.
SB389-SSA1,21 20Section 21. 71.26 (2) (b) 13. e. of the statutes is amended to read:
SB389-SSA1,28,721 71.26 (2) (b) 13. e. For purposes of subd. 13. a., the provisions of federal public
22laws that directly or indirectly affect the Internal Revenue Code, as defined in this
23subdivision, apply for Wisconsin purposes at the same time as for federal purposes,
24except that changes made by sections 20101, 20102, 20104, 20201, 40201, 40202,
2540203, 40308, 40309, 40311, 40414, 41101, 41107, 41114, 41115, and 41116 of P.L.

1115-123; section 101 (a), (b), and (h) of division U of P.L. 115-141; section 1203 of P.L.
2116-25; section 1122 of P.L. 116-92; section 301 of division O, section 1302 of division
3P, and sections 101, 102, 103, 117, 118, 132, 201, 202 (a), (b), and (c), 204 (a), (b), and
4(c), 301, and 302 of division Q of P.L. 116-94; section 2 of P.L. 116-98; and sections
5301, 302, and 304 of division EE of P.L. 116-260 apply for taxable years beginning
6after December 31, 2020. Changes made by section 1201 of P.L. 108-173 and section
7307 of P.L. 109-432 first apply for taxable years beginning after December 31, 2010.
SB389-SSA1,22 8Section 22. 71.26 (2) (b) 15. of the statutes is created to read:
SB389-SSA1,28,169 71.26 (2) (b) 15. a. For taxable years beginning after December 31, 2022, for a
10corporation, conduit, or common law trust that qualifies as a regulated investment
11company, real estate mortgage investment conduit, real estate investment trust, or
12financial asset securitization investment trust under the Internal Revenue Code,
13“net income" means the federal regulated investment company taxable income,
14federal real estate mortgage investment conduit taxable income, federal real estate
15investment trust, or financial asset securitization investment trust taxable income
16of the corporation, conduit, or trust as determined under the Internal Revenue Code.
SB389-SSA1,28,1917 b. For purposes of subd. 15. a., “Internal Revenue Code" means the federal
18Internal Revenue Code as amended to December 31, 2022, except as provided in
19subd. 15. c. and d. and s. 71.98, and subject to subd. 15. e.
SB389-SSA1,29,1920 c. For purposes of subd. 15. a., “Internal Revenue Code" does not include the
21following provisions of federal public laws for taxable years beginning after
22December 31, 2022: sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422
23of P.L. 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59;
24section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; section 104 of P.L.
25109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172;

1section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A,
2section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of
3P.L. 110-343; sections 1232, 1251, 1501, and 1502 of division B of P.L. 111-5; sections
4211, 212, 213, 214, and 216 of P.L. 111-226; section 2122 of P.L. 111-240; sections 754
5and 760 of P.L. 111-312; sections 104, 318, 322, 323, 326, 327, and 411 of P.L. 112-240;
6P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113;
7sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 326,
8and 411 of division Q of P.L. 114-113; sections 11011, 11012, 13201 (a) to (e) and (g),
913206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601, 13801, 14101, 14102,
1014103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301,
1114302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305, 40306, and 40412 of
12P.L. 115-123; section 101 (c) of division T of P.L. 115-141; sections 101 (d) and (e), 102,
13201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13), (17), (22) and (30), and (d)
14(1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L. 115-141; sections 104, 114,
15115, 116, 130, and 145 of division Q of P.L. 116-94; sections 2304 and 2306 of P.L.
16116-136; sections 111, 114, 115, 116, 118 (a) and (d), 133, 137, 138, and 210 of division
17EE of P.L. 116-260; sections 5003, 9041, 9673, 9675, and 9708 of P.L. 117-2; section
18307 of division P of P.L. 117-103; section 13903 (b) of P.L. 117-169; and section 4151
19of division FF of P.L. 117-328.
SB389-SSA1,29,2120 d. For purposes of subd. 15. a., “Internal Revenue Code" does not include
21amendments to the federal Internal Revenue Code enacted after December 31, 2022.
SB389-SSA1,30,422 e. For purposes of subd. 15. a., the provisions of federal public laws that directly
23or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply
24for Wisconsin purposes at the same time as for federal purposes, except that changes
25made by sections 5001, 5002, 5005, 9623, 9624, and 9672 of P.L.117-2; section 2 of

1P.L. 117-6; and sections 80401, 80402, and 80601 of division H of P.L. 117-58 apply
2for taxable years beginning after December 31, 2022. Changes made by section 1201
3of P.L. 108-173 and section 307 of P.L. 109-432 apply for taxable years beginning
4after December 31, 2010.
SB389-SSA1,23 5Section 23. 71.34 (1g) (k) of the statutes is repealed and recreated to read:
SB389-SSA1,30,96 71.34 (1g) (k) 1. For taxable years beginning after December 31, 2016, and
7before January 1, 2018, for tax option corporations, “Internal Revenue Code” means
8the federal Internal Revenue Code as amended to December 31, 2016, except as
9provided in subds. 2., 3., and 5. and s. 71.98, and subject to subd. 4.
SB389-SSA1,30,2410 2. For purposes of this paragraph, “Internal Revenue Code” does not include
11the following provisions of federal public laws for taxable years beginning after
12December 31, 2016: section 13113 of P.L 103-66; sections 1, 3, 4, and 5 of P.L.
13106-519; sections 101, 102, and 422 of P.L 108-357; sections 1310 and 1351 of P.L.
14109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of
15P.L. 109-222; section 104 of P.L. 109-432; sections 8233 and 8235 of P.L. 110-28;
16section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section 15351 of P.L.
17110-246; section 302 of division A, section 401 of division B, and sections 312, 322,
18502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251, 1501,
19and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L.
20111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L.
21111-312; sections 104, 318, 322, 323, 324, 326, 327, and 411 of P.L. 112-240; P.L.
22114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113; and
23sections 112, 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191,
24326, and 411 of division Q of P.L. 114-113.
SB389-SSA1,31,8
13. For purposes of this paragraph, “Internal Revenue Code” does not include
2amendments to the federal Internal Revenue Code, including provisions of federal
3public laws that directly or indirectly affect the Internal Revenue Code, enacted after
4December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
511025, and 13543 of P.L. 115-97; sections 40307 and 40413 of P.L. 115-123; sections
6101 (m), (n), (o), (p), and (q), 104 (a), and 109 of division U of P.L. 115-141; section
7102 of division M and sections 110, 111, and 116 (b) of division O of P.L. 116-94; and
8section 9707 of P.L. 117-2.
SB389-SSA1,31,129 4. For purposes of this paragraph, the provisions of federal public laws that
10directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
11apply for Wisconsin purposes at the same time as for federal purposes, except as
12follows:
SB389-SSA1,31,1613a. Changes made by section 4007 (b) of P.L. 114-41, section 1102 of P.L. 114-74,
14and sections 105, 111, 113 to 115, 133, 301, 302, 304, 305, 308, 311, 313 to 323, 325,
15331, and 343 to 345 of division Q of P.L. 114-113 first apply for taxable years
16beginning after December 31, 2016.
SB389-SSA1,31,1817b. Changes made by section 1201 of P.L. 108-173 and section 307 of P.L.
18109-432 first apply for taxable years beginning after December 31, 2010.
SB389-SSA1,31,22195. For purposes of this paragraph, section 1366 (f) of the Internal Revenue Code
20(relating to pass-through of items to shareholders) is modified by substituting the
21tax under s. 71.35 for the taxes under sections 1374 and 1375 of the Internal Revenue
22Code.
SB389-SSA1,24 23Section 24. 71.34 (1g) (L) of the statutes is repealed and recreated to read:
SB389-SSA1,32,224 71.34 (1g) (L) 1. For taxable years beginning after December 31, 2017, and
25before January 1, 2021, for tax option corporations, “Internal Revenue Code” means

1the federal Internal Revenue Code as amended to December 31, 2017, except as
2provided in subds. 2., 3., and 5. and s. 71.98, and subject to subd. 4.
SB389-SSA1,32,193 2. For purposes of this paragraph, “Internal Revenue Code” does not include
4the following provisions of federal public laws for taxable years beginning after
5December 31, 2017: sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422
6of P.L. 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59;
7section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; section 104 of P.L.
8109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172;
9section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A,
10section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of
11P.L. 110-343; sections 1232, 1251, 1501, and 1502 of division B of P.L. 111-5; sections
12211, 212, 213, 214, and 216 of P.L. 111-226; section 2122 of P.L. 111-240; sections 754
13and 760 of P.L. 111-312; sections 104, 318, 322, 323, 326, 327, and 411 of P.L. 112-240;
14P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113;
15sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 326,
16and 411 of division Q of P.L. 114-113; and sections 11011, 11012, 13201 (a) to (e) and
17(g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601, 13801, 14101, 14102,
1814103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301,
1914302, 14304, and 14401 of P.L. 115-97.
SB389-SSA1,33,720 3. For purposes of this paragraph, “Internal Revenue Code” does not include
21amendments to the federal Internal Revenue Code, including provisions of federal
22public laws that directly or indirectly affect the Internal Revenue Code, enacted after
23December 31, 2017, except that “Internal Revenue Code” includes sections 40307,
2440413, and 41113 of P.L. 115-123; sections 101 (m), (n), (o), (p), and (q), 104 (a), 109,
25401 (a) (54) and (b) (15) (A), (B), and (C), 19, 20, 23, 26, 27, and 28 of division U of P.L.

1115-141; sections 102 and 104 of division M, sections 102, 103, 106, 107, 108, 109,
2110, 111, 113, 114, 115, 116, 201, 204, 205, 206, 302, 401, and 601 of division O, section
31302 of division P, and sections 131, 202 (d), and 205 of division Q of P.L. 116-94;
4sections 1106, 2202, 2203, 2204, 2205, 2206, 2307, 3608, 3609, 3701, and 3702 of
5division A of P.L. 116-136; sections 202, 208, 209, 211, and 214 of division EE and
6sections 276 (a) and (b), 277, 278 (a), (b), (c), and (d), 280, and 285 of division N of P.L.
7116-260; and sections 9701, 9702, 9703, 9704, 9705, 9706, and 9707 of P.L. 117-2.
SB389-SSA1,33,118 4. For purposes of this paragraph, the provisions of federal public laws that
9directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
10apply for Wisconsin purposes at the same time as for federal purposes, except as
11follows:
SB389-SSA1,33,1412a. Changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
1313306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
14first apply for taxable years beginning after December 31, 2017.
SB389-SSA1,33,1615b. Changes made by section 1201 of P.L. 108-173 and section 307 of P.L.
16109-432 first apply for taxable years beginning after December 31, 2010.
SB389-SSA1,33,1917c. Changes made by section 13113 of P.L. 103-66; section 1241 of division B of
18P.L. 111-5; section 2011 of P.L. 111-240; section 753 of P.L. 111-312; and section 324
19of P.L. 112-240 first apply for taxable years beginning after December 31, 2018.
SB389-SSA1,33,23205. For purposes of this paragraph, section 1366 (f) of the Internal Revenue Code
21(relating to pass-through of items to shareholders) is modified by substituting the
22tax under s. 71.35 for the taxes under sections 1374 and 1375 of the Internal Revenue
23Code.
SB389-SSA1,25 24Section 25. 71.34 (1g) (m) of the statutes is repealed and recreated to read:
SB389-SSA1,34,4
171.34 (1g) (m) 1. For taxable years beginning after December 31, 2020, and
2before January 1, 2023, for tax option corporations, “Internal Revenue Code” means
3the federal Internal Revenue Code as amended to December 31, 2020, except as
4provided in subds. 2., 3., and 5. and s. 71.98, and subject to subd. 4.
SB389-SSA1,35,25 2. For purposes of this paragraph, “Internal Revenue Code” does not include
6the following provisions of federal public laws for taxable years beginning after
7December 31, 2020: sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422
8of P.L. 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59;
9section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; section 104 of P.L.
10109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172;
11section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A,
12section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of
13P.L. 110-343; sections 1232, 1251, 1501, and 1502 of division B of P.L. 111-5; sections
14211, 212, 213, 214, and 216 of P.L. 111-226; section 2122 of P.L. 111-240; sections 754
15and 760 of P.L. 111-312; sections 104, 318, 322, 323, 326, 327, and 411 of P.L. 112-240;
16P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113;
17sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 326,
18and 411 of division Q of P.L. 114-113; sections 11011, 11012, 13201 (a) to (e) and (g),
1913206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601, 13801, 14101, 14102,
2014103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301,
2114302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305, 40306, and 40412 of
22P.L. 115-123; section 101 (c) of division T of P.L. 115-141; sections 101 (d) and (e), 102,
23201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13), (17), (22) and (30), and (d)
24(1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L. 115-141; sections 104, 114,
25115, 116, 130, and 145 of division Q of P.L. 116-94; sections 2304 and 2306 of P.L.

1116-136; and sections 111, 114, 115, 116, 118 (a) and (d), 133, 137, 138, and 210 of
2division EE of P.L. 116-260.
SB389-SSA1,35,83 3. For purposes of this paragraph, “Internal Revenue Code” does not include
4amendments to the federal Internal Revenue Code, including provisions of federal
5public laws that directly or indirectly affect the Internal Revenue Code, enacted after
6December 31, 2020, except that “Internal Revenue Code” includes sections 9671,
79701, 9702, 9703, 9704, 9705, 9706, and 9707 of P.L. 117-2; and sections 80501,
880504, and 80602 of division H of P.L. 117-58.
SB389-SSA1,35,129 4. For purposes of this paragraph, the provisions of federal public laws that
10directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
11apply for Wisconsin purposes at the same time as for federal purposes, except as
12follows:
SB389-SSA1,35,2013 a. Changes made by sections 20101, 20102, 20104, 20201, 40201, 40202, 40203,
1440308, 40309, 40311, 40414, 41101, 41107, 41114, 41115, and 41116 of P.L. 115-123;
15section 101 (a), (b), and (h) of division U of P.L. 115-141; section 1203 of P.L. 116-25;
16section 1122 of P.L. 116-92; section 301 of division O, section 1302 of division P, and
17sections 101, 102, 103, 117, 118, 132, 201, 202 (a), (b), and (c), 204 (a), (b), and (c), 301,
18and 302 of division Q of P.L. 116-94; section 2 of P.L. 116-98; and sections 301, 302,
19and 304 of division EE of P.L. 116-260 apply for taxable years beginning after
20December 31, 2020.
SB389-SSA1,35,2221b. Changes made by section 1201 of P.L. 108-173 and section 307 of P.L.
22109-432 first apply for taxable years beginning after December 31, 2010.
SB389-SSA1,36,2235. For purposes of this paragraph, section 1366 (f) of the Internal Revenue Code
24(relating to pass-through of items to shareholders) is modified by substituting the

1tax under s. 71.35 for the taxes under sections 1374 and 1375 of the Internal Revenue
2Code.
SB389-SSA1,26 3Section 26. 71.34 (1g) (n) of the statutes is created to read:
SB389-SSA1,36,74 71.34 (1g) (n) 1. For taxable years beginning after December 31, 2022, for tax
5option corporations, “Internal Revenue Code” means the federal Internal Revenue
6Code as amended to December 31, 2022, except as provided in subds. 2., 3., and 5. and
7s. 71.98, and subject to subd. 4.
SB389-SSA1,37,78 2. For purposes of this paragraph, “Internal Revenue Code” does not include
9the following provisions of federal public laws for taxable years beginning after
10December 31, 2022: sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422
11of P.L. 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59;
12section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; section 104 of P.L.
13109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172;
14section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A,
15section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of
16P.L. 110-343; sections 1232, 1251, 1501, and 1502 of division B of P.L. 111-5; sections
17211, 212, 213, 214, and 216 of P.L. 111-226; section 2122 of P.L. 111-240; sections 754
18and 760 of P.L. 111-312; sections 104, 318, 322, 323, 326, 327, and 411 of P.L. 112-240;
19P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113;
20sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 326,
21and 411 of division Q of P.L. 114-113; sections 11011, 11012, 13201 (a) to (e) and (g),
2213206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601, 13801, 14101, 14102,
2314103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301,
2414302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305, 40306, and 40412 of
25P.L. 115-123; section 101 (c) of division T of P.L. 115-141; sections 101 (d) and (e), 102,

1201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13), (17), (22) and (30), and (d)
2(1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L. 115-141; sections 104, 114,
3115, 116, 130, and 145 of division Q of P.L. 116-94; sections 2304 and 2306 of P.L.
4116-136; sections 111, 114, 115, 116, 118 (a) and (d), 133, 137, 138, and 210 of division
5EE of P.L. 116-260; sections 5003, 9041, 9673, 9675, and 9708 of P.L. 117-2; section
6307 of division P of P.L. 117-103; section 13903 (b) of P.L. 117-169; and section 4151
7of division FF of P.L. 117-328.
SB389-SSA1,37,118 3. For purposes of this paragraph, “Internal Revenue Code” does not include
9amendments to the federal Internal Revenue Code, including provisions of federal
10public laws that directly or indirectly affect the Internal Revenue Code, enacted after
11December 31, 2022.
SB389-SSA1,37,1512 4. For purposes of this paragraph, the provisions of federal public laws that
13directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
14apply for Wisconsin purposes at the same time as for federal purposes, except as
15follows:
SB389-SSA1,37,1816 a. Changes made by sections 5001, 5002, 5005, 9623, 9624, and 9672 of P.L.
17117-2; section 2 of P.L. 117-6; and sections 80401, 80402, and 80601 of division H of
18P.L. 117-58 apply for taxable years beginning after December 31, 2022.
SB389-SSA1,37,2019b. Changes made by section 1201 of P.L. 108-173 and section 307 of P.L.
20109-432 apply for taxable years beginning after December 31, 2010.
SB389-SSA1,37,24215. For purposes of this paragraph, section 1366 (f) of the Internal Revenue Code
22(relating to pass-through of items to shareholders) is modified by substituting the
23tax under s. 71.35 for the taxes under sections 1374 and 1375 of the Internal Revenue
24Code.
SB389-SSA1,27 25Section 27. 71.42 (2) (k) of the statutes is repealed and recreated to read:
SB389-SSA1,38,4
171.42 (2) (k) 1. For taxable years beginning after December 31, 2016, and before
2January 1, 2018, “Internal Revenue Code” means the federal Internal Revenue Code
3as amended to December 31, 2016, except as provided in subds. 2. to 4. and s. 71.98,
4and subject to subd. 5.
SB389-SSA1,38,195 2. For purposes of this paragraph, “Internal Revenue Code” does not include
6the following provisions of federal public laws for taxable years beginning after
7December 31, 2016: section 13113 of P.L 103-66; sections 1, 3, 4, and 5 of P.L.
8106-519; sections 101, 102, and 422 of P.L 108-357; sections 1310 and 1351 of P.L.
9109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of
10P.L. 109-222; section 104 of P.L. 109-432; sections 8233 and 8235 of P.L. 110-28;
11section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section 15351 of P.L.
12110-246; section 302 of division A, section 401 of division B, and sections 312, 322,
13502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251, 1501,
14and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L.
15111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L.
16111-312; sections 104, 318, 322, 323, 324, 326, 327, and 411 of P.L. 112-240; P.L.
17114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113; and
18sections 112, 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191,
19326, and 411 of division Q of P.L. 114-113.
SB389-SSA1,39,220 3. For purposes of this paragraph, “Internal Revenue Code” does not include
21amendments to the federal Internal Revenue Code, including provisions of federal
22public laws that directly or indirectly affect the Internal Revenue Code, enacted after
23December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
2411025, and 13543 of P.L. 115-97; sections 40307 and 40413 of P.L. 115-123; sections
25101 (m), (n), (o), (p), and (q), 104 (a), and 109 of division U of P.L. 115-141; section

1102 of division M and sections 110, 111, and 116 (b) of division O of P.L. 116-94; and
2section 9707 of P.L. 117-2.
SB389-SSA1,39,63 4. For purposes of this paragraph, the provisions of federal public laws that
4directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
5apply for Wisconsin purposes at the same time as for federal purposes, except as
6follows:
SB389-SSA1,39,107a. Changes made by section 4007 (b) of P.L. 114-41, section 1102 of P.L. 114-74,
8and sections 105, 111, 113 to 115, 133, 301, 302, 304, 305, 308, 311, 313 to 323, 325,
9331, and 343 to 345 of division Q of P.L. 114-113 first apply for taxable years
10beginning after December 31, 2016.
SB389-SSA1,39,1211b. Changes made by section 1201 of P.L. 108-173 and section 307 of P.L.
12109-432 first apply for taxable years beginning after December 31, 2010.
SB389-SSA1,39,1413 5. For purposes of this paragraph, “Internal Revenue Code" does not include
14section 847 of the federal Internal Revenue Code.
SB389-SSA1,28 15Section 28. 71.42 (2) (L) of the statutes is repealed and recreated to read:
SB389-SSA1,39,1916 71.42 (2) (L) 1. For taxable years beginning after December 31, 2017, and
17before January 1, 2021, “Internal Revenue Code” means the federal Internal
18Revenue Code as amended to December 31, 2017, except as provided in subds. 2. to
194. and s. 71.98, and subject to subd. 5.
SB389-SSA1,40,1120 2. For purposes of this paragraph, “Internal Revenue Code” does not include
21the following provisions of federal public laws for taxable years beginning after
22December 31, 2017: sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422
23of P.L. 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59;
24section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; section 104 of P.L.
25109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172;

1section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A,
2section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of
3P.L. 110-343; sections 1232, 1251, 1501, and 1502 of division B of P.L. 111-5; sections
4211, 212, 213, 214, and 216 of P.L. 111-226; section 2122 of P.L. 111-240; sections 754
5and 760 of P.L. 111-312; sections 104, 318, 322, 323, 326, 327, and 411 of P.L. 112-240;
6P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113;
7sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 326,
8and 411 of division Q of P.L. 114-113; and sections 11011, 11012, 13201 (a) to (e) and
9(g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601, 13801, 14101, 14102,
1014103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301,
1114302, 14304, and 14401 of P.L. 115-97.
SB389-SSA1,40,2412 3. For purposes of this paragraph, “Internal Revenue Code” does not include
13amendments to the federal Internal Revenue Code, including provisions of federal
14public laws that directly or indirectly affect the Internal Revenue Code, enacted after
15December 31, 2017, except that “Internal Revenue Code” includes sections 40307,
1640413, and 41113 of P.L. 115-123; sections 101 (m), (n), (o), (p), and (q), 104 (a), 109,
17401 (a) (54) and (b) (15) (A), (B), and (C), 19, 20, 23, 26, 27, and 28 of division U of P.L.
18115-141; sections 102 and 104 of division M, sections 102, 103, 106, 107, 108, 109,
19110, 111, 113, 114, 115, 116, 201, 204, 205, 206, 302, 401, and 601 of division O, section
201302 of division P, and sections 131, 202 (d), and 205 of division Q of P.L. 116-94;
21sections 1106, 2202, 2203, 2204, 2205, 2206, 2307, 3608, 3609, 3701, and 3702 of
22division A of P.L. 116-136; sections 202, 208, 209, 211, and 214 of division EE and
23sections 276 (a) and (b), 277, 278 (a), (b), (c), and (d), 280, and 285 of division N of P.L.
24116-260; and sections 9701, 9702, 9703, 9704, 9705, 9706, and 9707 of P.L. 117-2.
SB389-SSA1,41,4
14. For purposes of this paragraph, the provisions of federal public laws that
2directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
3apply for Wisconsin purposes at the same time as for federal purposes, except as
4follows:
SB389-SSA1,41,75a. Changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
613306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
7first apply for taxable years beginning after December 31, 2017.
SB389-SSA1,41,98b. Changes made by section 1201 of P.L. 108-173 and section 307 of P.L.
9109-432 first apply for taxable years beginning after December 31, 2010.
SB389-SSA1,41,1210c. Changes made by section 13113 of P.L. 103-66; section 1241 of division B of
11P.L. 111-5; section 2011 of P.L. 111-240; section 753 of P.L. 111-312; and section 324
12of P.L. 112-240 first apply for taxable years beginning after December 31, 2018.
SB389-SSA1,41,1413 5. For purposes of this paragraph, “Internal Revenue Code" does not include
14section 847 of the federal Internal Revenue Code.
SB389-SSA1,29 15Section 29. 71.42 (2) (m) of the statutes is repealed and recreated to read:
SB389-SSA1,41,1916 71.42 (2) (m) 1. For taxable years beginning after December 31, 2020, and
17before January 1, 2023, “Internal Revenue Code” means the federal Internal
18Revenue Code as amended to December 31, 2020, except as provided in subds. 2. and
193. and s. 71.98, and subject to subd. 4.
SB389-SSA1,42,1720 2. For purposes of this paragraph, “Internal Revenue Code” does not include
21the following provisions of federal public laws for taxable years beginning after
22December 31, 2020: sections 1, 3, 4, and 5 of P.L. 106-519; sections 101, 102, and 422
23of P.L. 108-357; sections 1310 and 1351 of P.L. 109-58; section 11146 of P.L. 109-59;
24section 403 (q) of P.L. 109-135; section 513 of P.L. 109-222; section 104 of P.L.
25109-432; sections 8233 and 8235 of P.L. 110-28; section 11 (e) and (g) of P.L. 110-172;

1section 301 of P.L. 110-245; section 15351 of P.L. 110-246; section 302 of division A,
2section 401 of division B, and sections 312, 322, 502 (c), 707, and 801 of division C of
3P.L. 110-343; sections 1232, 1251, 1501, and 1502 of division B of P.L. 111-5; sections
4211, 212, 213, 214, and 216 of P.L. 111-226; section 2122 of P.L. 111-240; sections 754
5and 760 of P.L. 111-312; sections 104, 318, 322, 323, 326, 327, and 411 of P.L. 112-240;
6P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division P of P.L. 114-113;
7sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to 171, 189, 191, 326,
8and 411 of division Q of P.L. 114-113; sections 11011, 11012, 13201 (a) to (e) and (g),
913206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601, 13801, 14101, 14102,
1014103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301,
1114302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305, 40306, and 40412 of
12P.L. 115-123; section 101 (c) of division T of P.L. 115-141; sections 101 (d) and (e), 102,
13201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13), (17), (22) and (30), and (d)
14(1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L. 115-141; sections 104, 114,
15115, 116, 130, and 145 of division Q of P.L. 116-94; sections 2304 and 2306 of P.L.
16116-136; and sections 111, 114, 115, 116, 118 (a) and (d), 133, 137, 138, and 210 of
17division EE of P.L. 116-260.
SB389-SSA1,42,2318 3. For purposes of this paragraph, “Internal Revenue Code” does not include
19amendments to the federal Internal Revenue Code, including provisions of federal
20public laws that directly or indirectly affect the Internal Revenue Code, enacted after
21December 31, 2020, except that “Internal Revenue Code” includes sections 9671,
229701, 9702, 9703, 9704, 9705, 9706, and 9707 of P.L. 117-2; and sections 80501,
2380504, and 80602 of division H of P.L. 117-58.
SB389-SSA1,43,224 4. For purposes of this paragraph, the provisions of federal public laws that
25directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,

1apply for Wisconsin purposes at the same time as for federal purposes, except as
2follows:
SB389-SSA1,43,103 a. Changes made by sections 20101, 20102, 20104, 20201, 40201, 40202, 40203,
440308, 40309, 40311, 40414, 41101, 41107, 41114, 41115, and 41116 of P.L. 115-123;
5section 101 (a), (b), and (h) of division U of P.L. 115-141; section 1203 of P.L. 116-25;
6section 1122 of P.L. 116-92; section 301 of division O, section 1302 of division P, and
7sections 101, 102, 103, 117, 118, 132, 201, 202 (a), (b), and (c), 204 (a), (b), and (c), 301,
8and 302 of division Q of P.L. 116-94; section 2 of P.L. 116-98; and sections 301, 302,
9and 304 of division EE of P.L. 116-260 apply for taxable years beginning after
10December 31, 2020.
SB389-SSA1,43,1211b. Changes made by section 1201 of P.L. 108-173 and section 307 of P.L.
12109-432 first apply for taxable years beginning after December 31, 2010.
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