d. Section 71.07 (3g),.
e. Section 71.07 (3h),.
f. Section 71.07 (3n),.
g. Section 71.07 (3q),.
h. Section 71.07 (3s),.
i. Section 71.07 (3t),.
j. Section 71.07 (3w),.
k. Section 71.07 (3wm),.
L. Section 71.07 (3y),.
m. Section 71.07 (4k),.
n. Section 71.07 (4n),.
o. Section 71.07 (5f),.
p. Section 71.07 (5h),.
q. Section 71.07 (5i),.
r. Section 71.07 (5j),.
s. Section 71.07 (5k),.
t. Section 71.07 (5r),.
u. Section 71.07 (5rm),.
v. Section 71.07 (6n), and.
w. Section 71.07 (10) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership’s, company’s, or tax-option corporation’s income under s. 71.21 (4) or 71.34 (1k) (g).
118,36Section 36. 71.05 (6) (a) 15. a. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,37Section 37. 71.05 (6) (a) 15. b. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,38Section 38. 71.05 (6) (a) 15. c. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,39Section 39. 71.05 (6) (a) 15. d. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,40Section 40. 71.05 (6) (a) 15. e. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,41Section 41. 71.05 (6) (a) 15. f. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,42Section 42. 71.05 (6) (a) 15. g. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,43Section 43. 71.05 (6) (a) 15. h. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,44Section 44. 71.05 (6) (a) 15. i. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,45Section 45. 71.05 (6) (a) 15. n. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,46Section 46. 71.05 (6) (a) 15. q. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,47Section 47. 71.05 (6) (a) 15. r. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,48Section 48. 71.05 (6) (a) 15. t. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,49Section 49. 71.05 (6) (a) 15. u. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,50Section 50. 71.05 (6) (a) 15. v. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,51Section 51. 71.05 (6) (a) 21. of the statutes is repealed. 118,52Section 52. 71.05 (6) (a) 22. of the statutes is repealed. 118,53Section 53. 71.05 (6) (b) 3m. of the statutes is repealed. 118,54Section 54. 71.05 (6) (b) 6. of the statutes is repealed. 118,55Section 55. 71.05 (6) (b) 9m. of the statutes is amended to read: 71.05 (6) (b) 9m. On farm assets held more than one year and on all farm assets acquired from a decedent, to the extent that they are not subtracted under subd. 9. or 10., 60 percent of the capital gain as computed under the Internal Revenue Code, not including capital gains for which the federal tax treatment is determined under section 406 of P.L. 99-514; not including amounts treated as ordinary income for federal income tax purposes because of the recapture of depreciation or any other reason; and not including amounts treated as capital gain for federal income tax purposes from the sale or exchange of a lottery prize. In this subdivision, “farm assets” means livestock, farm equipment, farm real property, and farm depreciable property. For purposes of this subdivision, the capital gains and capital losses for all assets shall be netted before application of the percentage.
118,56Section 56. 71.05 (6) (b) 10. of the statutes is repealed. 118,57Section 57. 71.05 (6) (b) 13. of the statutes is repealed. 118,58Section 58. 71.05 (6) (b) 14. of the statutes is repealed. 118,59Section 59. 71.05 (6) (b) 21. a. of the statutes is repealed. 118,60Section 60. 71.05 (6) (b) 21. b. of the statutes is repealed. 118,61Section 61. 71.05 (6) (b) 21. c. of the statutes is renumbered 71.05 (6) (b) 21. 118,62Section 62. 71.05 (6) (b) 23. of the statutes is repealed. 118,63Section 63. 71.05 (6) (b) 28. a. of the statutes is amended to read: 71.05 (6) (b) 28. a. Subject to subd. 28. am., an amount equal to one of the following per student for each year to which the claim relates: for taxable years beginning before January 1, 2009, not more than twice the average amount charged by the board of regents of the University of Wisconsin System at 4-year institutions for resident undergraduate academic fees for the most recent fall semester, as determined by the board of regents by September 1 of that semester; for taxable years beginning after December 31, 2008, and subject to subd. 28. am., $6,000 per student for each year to which the claim relates.
118,64mSection 64m. 71.05 (6) (b) 28. h. of the statutes is amended to read: 71.05 (6) (b) 28. h. No modification may be claimed under this subdivision for an amount paid for tuition expenses and mandatory student fees, as described under this subdivision, if the source of the payment is an amount withdrawn from a college savings account, as described in s. 224.50 or from a college tuition and expenses program, as described in s. 224.48, and if the owner of the account or a parent, grandparent, great-grandparent, aunt, or uncle of the beneficiary, another individual who contributed to the account, has claimed a deduction under subd. 32. or 33. that relates to such an amount.
118,65mSection 65m. 71.05 (6) (b) 32. a. of the statutes is amended to read: 71.05 (6) (b) 32. a. Except as otherwise provided in this subdivision, an amount equal to not more than $5,000 per beneficiary, by each contributor, or $2,500 by each contributor who is married and files separately, to an account for each year to which the claim relates, except that the total amount for which a deduction may be claimed under this subdivision and under subd. 33., per beneficiary by any claimant may not exceed $5,000 each year, or $2,500 each year by any claimant who is married and files separately. In the case of a married couple, the total deduction under this subdivision and under subd. 33., per beneficiary by the married couple may not exceed $5,000 each year. For taxable years beginning after December 31, 2024, the dollar amounts in this subd. 32. a., and the dollar amounts in subd. 33. a., shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2023, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year. Each amount that is revised under this subd. 32. a. and under subd. 33. a. shall be rounded to the nearest multiple of $10 if the revised amount is not a multiple of $10 or, if the revised amount is a multiple of $5, such an amount shall be increased to the next higher multiple of $10. The department of revenue shall annually adjust the changes in dollar amounts required under this subd. 32. a. and incorporate the changes into the income tax forms and instructions. Any amount that is paid into an account under this subdivision that exceeds the maximum amount that may be subtracted under this subdivision may be carried forward to the next taxable year, and thereafter, subject to the limitations in this subdivision.
118,66Section 66. 71.05 (6) (b) 33. of the statutes is repealed. 118,68Section 68. 71.05 (6) (b) 43. (intro.) of the statutes is amended to read: 71.05 (6) (b) 43. (intro.) Subject to subd. 43. e. and f., one of the following allowable amounts, amount specified in subd. 43. a. to d., of employment-related expenses claimed by the claimant under section 21 of the Internal Revenue Code in the taxable year to which that claim relates:
118,67Section 67. 71.05 (6) (b) 43. of the statutes, as affected by 2025 Wisconsin Act .... (this act), is repealed. 118,69Section 69. 71.05 (6) (b) 43. a. of the statutes is repealed. 118,70Section 70. 71.05 (6) (b) 43. b. of the statutes is repealed. 118,71Section 71. 71.05 (6) (b) 43. c. of the statutes is repealed. 118,72Section 72. 71.05 (6) (b) 43. f. of the statutes is amended to read: 71.05 (6) (b) 43. f. An individual who is a nonresident or part-year resident of this state and who claims the subtraction under this subdivision shall multiply the amount calculated under subd. 43. a., b., c., or d. by a fraction the numerator of which is the individual’s wages, salary, tips, unearned income, and net earnings from a trade or business that are taxable by this state and the denominator of which is the individual’s total wages, salary, tips, unearned income, and net earnings from a trade or business. In this subd. 43. f., for married persons filing separately “wages, salary, tips, unearned income, and net earnings from a trade or business” means the separate wages, salary, tips, unearned income, and net earnings from a trade or business of each spouse, and for married persons filing jointly “wages, salary, tips, unearned income, and net earnings from a trade or business” means the total wages, salary, tips, unearned income, and net earnings from a trade or business of both spouses.
118,73Section 73. 71.05 (6) (b) 44. of the statutes is repealed. 118,74Section 74. 71.05 (6) (b) 47m. of the statutes is repealed. 118,75Section 75. 71.05 (6) (b) 50. of the statutes is repealed. 118,76Section 76. 71.05 (11) of the statutes is repealed. 118,77Section 77. 71.05 (12) (b) (intro.) and 1. of the statutes are consolidated, renumbered 71.05 (12) (b) and amended to read: 71.05 (12) (b) Whenever an individual acquires a new residence, as defined in section 1034 (a) of the internal revenue code, in this state, the adjusted basis of the new residence is not required to be reduced as required under sections 1016 (a) (7) and 1034 (e) of the internal revenue code upon the sale or exchange of an old residence located outside this state if: 1. The the sale or exchange of the old residence occurred in taxable year 1975 or thereafter and the individual was not a resident of this state at the time of sale or exchange of the old residence; or.
118,78Section 78. 71.05 (12) (b) 2. of the statutes is repealed. 118,79Section 79. 71.05 (12) (c) (intro.) and 1. of the statutes are consolidated, renumbered 71.05 (12) (c) and amended to read: 71.05 (12) (c) Whenever a resident of this state sells or exchanges a principal residence located outside this state and the nonrecognition of gain provision of section 1034 (a) of the internal revenue code does not apply to that sale or exchange, the adjusted basis of the residence sold or exchanged is not required to be reduced as required by sections 1016 (a) (7) and 1034 (e) of the internal revenue code for any nonrecognized gain on the sale or exchange of any old principal residence located outside this state if: 1. The the sale or exchange of the old residence occurred in taxable year 1975 or thereafter and the individual was not a resident of this state at the time of sale or exchange of the old residence; or.
118,80Section 80. 71.05 (12) (c) 2. of the statutes is repealed. 118,81Section 81. 71.05 (16) of the statutes is repealed. 118,82Section 82. 71.05 (17) of the statutes is repealed. 118,83Section 83. 71.05 (18) of the statutes is repealed. 118,84Section 84. 71.05 (22) (c) of the statutes is repealed. 118,85Section 85. 71.05 (22) (d) of the statutes is repealed. 118,86Section 86. 71.05 (22) (dm) of the statutes is repealed. 118,87Section 87. 71.05 (22) (ds) of the statutes is repealed. 118,88Section 88. 71.05 (22) (f) 2m. of the statutes is amended to read: 71.05 (22) (f) 2m. The standard deduction that may be claimed by an individual under par. (dm) or (dp), based on the individual’s filing status.
118,89Section 89. 71.05 (23) (a) of the statutes is repealed. 118,90Section 90. 71.05 (23) (c) of the statutes is amended to read: 71.05 (23) (c) With respect to persons who change their domicile into or from this state during the taxable year and nonresident persons, personal exemptions under pars. (a) and par. (b) shall be limited to the fraction of the amount so determined that Wisconsin adjusted gross income is of federal adjusted gross income. In this paragraph, for married persons filing separately “adjusted gross income” means the separate adjusted gross income of each spouse and for married persons filing jointly “adjusted gross income” means the total adjusted gross income of both spouses. If a person and that person’s spouse are not both domiciled in this state during the entire taxable year, their personal exemptions on a joint return are determined by multiplying the personal exemption that would be available to each of them if they were both domiciled in this state during the entire taxable year by a fraction the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.
118,91Section 91. 71.05 (24) of the statutes is repealed. 118,92Section 92. 71.05 (25) (a) 2. of the statutes is amended to read: 71.05 (25) (a) 2. “Qualifying gain” means a long-term capital gain under the Internal Revenue Code realized from the sale of an investment made after December 31, 2010, and held for at least 5 uninterrupted years in a business that for the year of investment and at least 2 of the 4 subsequent years was a qualified Wisconsin business; except that a qualifying gain may not include any amount for which the claimant claimed a subtraction under sub. s. 71.05 (24) (b), 2023 stats., or any gain described under sub. s. 71.05 (26) (b), 2023 stats., and may not exceed the fair market value of the investment on the date sold, less the fair market value of the investment on the date acquired.
118,93Section 93. 71.05 (25m) (b) of the statutes is amended to read:
