71.22
(4m) (k) For taxable years that begin after December 31, 1997,
and before January 1, 1999, "Internal Revenue Code", for corporations that are subject to a tax on unrelated business income under s. 71.26 (1) (a), means the federal Internal Revenue Code as amended to December 31, 1997, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188,
and as amended by P.L. 105-178, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-178, P.L. 105-206 and P.L. 105-277. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 1997, do not apply to this paragraph with respect to taxable years beginning after December 31, 1997
, and before January 1, 1999, except that changes to the Internal Revenue Code made by P.L. 105-178, P.L. 105-206 and P.L. 105-277 and changes that indirectly affect the provisions applicable to this subchapter made by P.L. 105-178, P.L. 105-206 and P.L. 105-277 apply for Wisconsin purposes at the same time as for federal purposes.
9,1722x
Section 1722x. 71.22 (4m) (L) of the statutes is created to read:
71.22
(4m) (L) For taxable years that begin after December 31, 1998, "Internal Revenue Code", for corporations that are subject to a tax on unrelated business income under s. 71.26 (1) (a), means the federal Internal Revenue Code as amended to December 31, 1998, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and P.L.
105-277. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 1998, do not apply to this paragraph with respect to taxable years beginning after December 31, 1998.
9,1722y
Section 1722y. 71.23 (1) of the statutes is amended to read:
71.23 (1) Income tax. For the purpose of raising revenue for the state and the counties, cities, villages and towns, there shall be assessed, levied, collected and paid a tax as provided under this chapter on all Wisconsin net incomes of corporations which that are not subject to the franchise tax under sub. (2) and which that own property within this state; that derive income from sources within this state or from activities that are attributable to this state; or whose business within this state during the taxable year, except as provided under sub. (3), consists exclusively of foreign commerce, interstate commerce, or both, or that buy or sell lottery prizes if the winning tickets were originally bought in this state; except as exempted under s. 71.26 (1). This section shall not be construed to prevent or affect the correction of errors or omissions in the assessments of income for former years under s. 71.74 (1) and (2).
9,1722yb
Section 1722yb. 71.23 (2) of the statutes is amended to read:
71.23 (2) Franchise tax. For the privilege of exercising its franchise, buying or selling lottery prizes if the winning tickets were originally bought in this state or doing business in this state in a corporate capacity, except as provided under sub. (3), every domestic or foreign corporation, except corporations specified in s. 71.26 (1), and every nuclear decommissioning trust or reserve fund shall annually pay a franchise tax according to or measured by its entire Wisconsin net income of the preceding taxable year at the rate set forth in s. 71.27 (2). In addition, except as provided in sub. (3) and s. 71.26 (1), a corporation that ceases doing business in this state and a nuclear decommissioning trust or reserve fund that is terminated shall pay a special franchise tax according to or measured by its entire Wisconsin net income for the taxable year during which the corporation ceases doing business in this state or the nuclear decommissioning trust or reserve fund is terminated at the rates under s. 71.27 (2). Every corporation organized under the laws of this state shall be deemed to be residing within this state for the purposes of this franchise tax. All provisions of this chapter and ch. 73 relating to income taxation of corporations shall apply to franchise taxes imposed under this subsection, unless the context requires otherwise. The tax imposed by this subsection on national banking associations shall be in lieu of all taxes imposed by this state on national banking associations to the extent it is not permissible to tax such associations under federal law.
9,1722yc
Section 1722yc. 71.23 (3) (d) of the statutes is created to read:
71.23 (3) (d) The storage for no more than 90 days in this state in or on property owned by a person, other than the foreign corporation, of the foreign corporation's tangible personal property, if the tangible personal property is transferred to the person and is used in this state by the person for fabricating, processing, manufacturing or printing on the parcel of property in or on which the tangible personal property is stored and if the parcel of property has an assessed value, for property tax purposes, of at least $10,000,000 but no more than $11,000,000 on January 1, 1999.
9,1722yd
Section 1722yd. 71.25 (5) (a) (intro.) of the statutes is amended to read:
71.25 (5) (a) Apportionable income. (intro.) Except as provided in sub. (6), corporations engaged in business both within and without this state are subject to apportionment. Income gain or loss from the sources listed in this paragraph is presumed apportionable as unitary or operational income or other income that has a taxable presence in this state. Apportionable income includes all income or loss of corporations, other than nonapportionable income as specified in par. (b), including, but not limited to, income, gain or loss from the following sources:
9,1722ym
Section 1722ym. 71.25 (5) (b) of the statutes is amended to read:
71.25 (5) (b) Nonapportionable income. 1. Income, gain or loss from the sale of nonbusiness real property or nonbusiness tangible personal property, rental of nonbusiness real property or nonbusiness tangible personal property and royalties from nonbusiness real property or nonbusiness tangible personal property are nonapportionable and shall be allocated to the situs of the property, except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.
2. All income, gain or loss from intangible property that is earned by a personal holding company, as defined in section
542 of the internal revenue code, as amended to December 31, 1974, shall be allocated to the residence of the taxpayer
, except that all income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state shall be allocated to this state.
9,1736
Section 1736. 71.25 (9) (dr) of the statutes is created to read:
71.25 (9) (dr) 1. For taxable years beginning after December 31, 1999, receipts from a service are attributed to the state where the purchaser of the service received the benefit of the service, except as provided in subd. 4. The benefit of a service is received in this state if any of the following applies:
a. The service relates to real property that is located in this state.
b. The service relates to tangible personal property that is located in this state at the time that the service is received.
c. The service is provided to a person who is located in this state.
d. The service is provided to a person doing business in this state.
e. The service is performed at a location in this state.
2. If the purchaser of a service receives the benefit of a service in more than one state, the receipts from the performance of the service are included in the numerator of the sales factor under par. (a) according to the portion of the service received in this state. If the state where a purchaser received the benefit of a service cannot be determined, the benefit of a service is received in the state where the purchaser, in the regular course of the purchaser's business, ordered the service. If the state where a purchaser ordered a service cannot be determined, the benefit of the service is received in the state where the purchaser, in the regular course of the purchaser's business, receives a bill for the service.
3. If the taxpayer is not subject to income tax in the state in which the benefit of the service is received, the benefit of the service is received in this state to the extent that the taxpayer's employes or representatives performed services from a location in this state.
4. If the benefit of a service is received in this state, as provided under this subsection, and the taxpayer submits evidence to the department that another state that has jurisdiction to tax the service attributes the receipts from the service to that state to determine the income that is taxable by that state, the taxpayer may elect, by a method prescribed by the department, to attribute the receipts from the service to this state in proportion to the direct cost of performing such service in this state as compared to the total direct cost of performing the service in all states that have jurisdiction to tax such service.
9,1738s
Section 1738s. 71.25 (15) of the statutes is created to read:
71.25 (15) Partnerships and limited liability companies. (a) A general or limited partner's share of the numerator and denominator of a partnership's apportionment fractions under this section are included in the numerator and denominator of the general or limited partner's apportionment fractions under this section.
(b) If a limited liability company is considered by the department of revenue to be a partnership, for tax purposes, a member's share of the numerator and denominator of a limited liability company's apportionment fractions under this section are included in the numerator and denominator of the member's apportionment fractions under this section.
9,1738t
Section 1738t. 71.26 (1) (a) of the statutes is amended to read:
71.26
(1) (a)
Certain corporations. Income of corporations organized under ch. 185, except income of a cooperative sickness care association organized under s. 185.981, or of a service insurance corporation organized under ch. 613, that is derived from a health maintenance organization as defined in s. 609.01 (2) or a limited service health organization as defined in s. 609.01 (3), or operating under subch. I of ch. 616 which are bona fide cooperatives operated without pecuniary profit to any shareholder or member, or operated on a cooperative plan pursuant to which they determine and distribute their proceeds in substantial compliance with s. 185.45, and the income, except the unrelated business taxable income as defined in section
512 of the internal revenue code and except income that is derived from a health maintenance organization as defined in s. 609.01 (2) or a limited service health organization as defined in s. 609.01 (3), of all religious, scientific, educational, benevolent or other corporations or associations of individuals not organized or conducted for pecuniary profit. This paragraph does not apply to the income of savings banks, mutual loan corporations or savings and loan associations.
This paragraph does not apply to income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state. This paragraph applies to the income of credit unions except to the income of any credit union that is derived from public deposits for any taxable year in which the credit union is approved as a public depository under ch. 34 and acts as a depository of state or local funds under s. 186.113 (20). For purposes of this paragraph, the income of a credit union that is derived from public deposits is the product of the credit union's gross annual income for the taxable year multiplied by a fraction, the numerator of which is the average monthly balance of public deposits in the credit union during the taxable year, and the denominator of which is the average monthly balance of all deposits in the credit union during the taxable year.
9,1740
Section
1740. 71.26 (1) (b) of the statutes is amended to read:
71.26 (1) (b) Political units. Income received by the United States, the state and all counties, cities, villages, towns, school districts, technical college districts, joint local water authorities created under s. 66.0735, family care districts under s. 46.2895 or other political units of this state.
9,1740c
Section 1740c. 71.26 (2) (a) of the statutes is amended to read:
71.26 (2) (a) Corporations in general. The "net income" of a corporation means the gross income as computed under the internal revenue code as modified under sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit computed under s. 71.28 (1) and (3) to (5) plus the amount of the credit computed under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds) and, (1dx) and (1dy) and not passed through by a partnership, limited liability company or tax-option corporation that has added that amount to the partnership's, limited liability company's or tax-option corporation's income under s. 71.21 (4) or 71.34 (1) (g) plus the amount of losses from the sale or other disposition of assets the gain from which would be wholly exempt income, as defined in sub. (3) (L), if the assets were sold or otherwise disposed of at a gain and minus deductions, as computed under the internal revenue code as modified under sub. (3), plus or minus, as appropriate, an amount equal to the difference between the federal basis and Wisconsin basis of any asset sold, exchanged, abandoned or otherwise disposed of in a taxable transaction during the taxable year, except as provided in par. (b) and s. 71.45 (2) and (5).
9,1740d
Section 1740d. 71.26 (2) (b) 5. of the statutes is repealed.
9,1740e
Section 1740e. 71.26 (2) (b) 6. of the statutes is amended to read:
71.26
(2) (b) 6. For taxable years that begin after December 31, 1990, and before January 1, 1992, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit or real estate investment trust under the
internal revenue code Internal Revenue Code as amended to December 31, 1990, and as amended by P.L.
102-227, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income or federal real estate investment trust taxable income of the corporation, conduit or trust as determined under the
internal revenue code
Internal Revenue Code as amended to December 31, 1990, and as amended by P.L.
102-227, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277 and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The
internal revenue code
Internal Revenue Code as amended to December 31, 1990, and as amended by P.L.
102-227, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the
internal revenue code Internal Revenue Code enacted after December 31, 1990, do not apply to this subdivision with respect to taxable years that begin after December 31, 1990, and before January 1, 1992, except that changes to the
internal revenue code Internal Revenue Code made by P.L.
102-227, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277 and changes that indirectly affect the provisions applicable to this subchapter made by P.L.
102-227, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, apply for Wisconsin purposes at the same time as for federal purposes.
9,1740f
Section 1740f. 71.26 (2) (b) 7. of the statutes is amended to read:
71.26
(2) (b) 7. For taxable years that begin after December 31, 1991, and before January 1, 1993, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit or real estate investment trust under the
internal revenue code Internal Revenue Code as amended to December 31, 1991, excluding sections 103, 104 and 110 of P.L.
102-227, and as amended by P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13171 and 13174 of P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13171 and 13174 of P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income or federal real estate investment trust taxable income of the corporation, conduit or trust as determined under the
internal revenue code Internal Revenue Code as amended to December 31, 1991, excluding sections 103, 104 and 110 of P.L.
102-227, and as amended by P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13171 and 13174 of P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277 and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13171 and 13174 of P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The
internal revenue code
Internal Revenue Code as amended to December 31, 1991, excluding sections 103, 104 and 110 of P.L.
102-227, and as amended by P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13171 and 13174 of P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13171 and 13174 of P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277 applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the
internal revenue code Internal Revenue Code enacted after December 31, 1991, do not apply to this subdivision with respect to taxable years that begin after December 31, 1991, and before January 1, 1993, except that changes to the
internal revenue code Internal Revenue Code made by P.L.
102-318, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277 and changes that indirectly affect the provisions applicable to this subchapter made by P.L.
102-318, P.L.
102-486, P.L.
103-66, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277 apply for Wisconsin purposes at the same time as for federal purposes.
9,1740g
Section 1740g. 71.26 (2) (b) 8. of the statutes is amended to read:
71.26
(2) (b) 8. For taxable years that begin after December 31, 1992, and before January 1, 1994, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit or real estate investment trust under the
internal revenue code Internal Revenue Code as amended to December 31, 1992, excluding sections 103, 104 and 110 of P.L.
102-227, and as amended by P.L.
103-66, excluding sections 13101 (a) and (c) 1., 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66, P.L.
103-465, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66, P.L.
103-465, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income or federal real estate investment trust taxable income of the corporation, conduit or trust as determined under the
internal revenue code Internal Revenue Code as amended to December 31, 1992, excluding sections 103, 104 and 110 of P.L.
102-227, and as amended by P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66, P.L.
103-465, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13101 (a) and (c) 1., 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66, P.L.
103-465, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The
internal revenue code Internal Revenue Code as amended to December 31, 1992, excluding sections 103, 104 and 110 of P.L.
102-227, and as amended by P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66, P.L.
103-465, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66, P.L.
103-465, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the
internal revenue code Internal Revenue Code enacted after December 31, 1992, do not apply to this subdivision with respect to taxable years that begin after December 31, 1992, and before January 1, 1994, except that changes to the
internal revenue code Internal Revenue Code made by P.L.
103-66, P.L.
103-465, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277 and changes that indirectly affect the provisions applicable to this subchapter made by P.L.
103-66, P.L.
103-465, P.L.
104-188, excluding section 1311 of P.L.
104-188,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, apply for Wisconsin purposes at the same time as for federal purposes.
9,1740h
Section 1740h. 71.26 (2) (b) 9. of the statutes is amended to read:
71.26
(2) (b) 9. For taxable years that begin after December 31, 1993, and before January 1, 1995, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit or real estate investment trust under the
internal revenue code Internal Revenue Code as amended to December 31, 1993, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66, and as amended by P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income or federal real estate investment trust taxable income of the corporation, conduit or trust as determined under the
internal revenue code Internal Revenue Code as amended to December 31, 1993, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66, and as amended by P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
104-193,
and P.L.
105-34, P.L. 105-206 and P.L. 105-277, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The
internal revenue code
Internal Revenue Code as amended to December 31, 1993, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66, and as amended by P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the
internal revenue code Internal Revenue Code enacted after December 31, 1993, do not apply to this subdivision with respect to taxable years that begin after December 31, 1993, and before January 1, 1995, except that changes to the
internal revenue code
Internal Revenue Code made by P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277 and changes that indirectly affect the provisions applicable to this subchapter made by P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, apply for Wisconsin purposes at the same time as for federal purposes.
9,1740i
Section 1740i. 71.26 (2) (b) 10. of the statutes is amended to read:
71.26
(2) (b) 10. For taxable years that begin after December 31, 1994, and before January 1, 1996, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit or real estate investment trust under the
internal revenue code Internal Revenue Code as amended to December 31, 1994, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and as amended by P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income or federal real estate investment trust taxable income of the corporation, conduit or trust as determined under the
internal revenue code Internal Revenue Code as amended to December 31, 1994, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and as amended by P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193,
and P.L.
105-34
, P.L. 105-206 and P.L. 105-277, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The
internal revenue code Internal Revenue Code as amended to December 31, 1994, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and as amended by P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the
internal revenue code Internal Revenue Code enacted after December 31, 1994, do not apply to this subdivision with respect to taxable years that begin after December 31, 1994, and before January 1, 1996, except that changes made by P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277 and changes that indirectly affect the provisions applicable to this subchapter made by P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277 apply for Wisconsin purposes at the same time as for federal purposes.
9,1740j
Section 1740j. 71.26 (2) (b) 11. of the statutes is amended to read:
71.26
(2) (b) 11. For taxable years that begin after December 31, 1995, and before January 1, 1997, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit or real estate investment trust under the
internal revenue code Internal Revenue Code as amended to December 31, 1995, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and as amended by P.L.
104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income or federal real estate investment trust taxable income of the corporation, conduit or trust as determined under the
internal revenue code
Internal Revenue Code as amended to December 31, 1995, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and as amended by P.L.
104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34,
P.L. 105-206 and P.L. 105-277, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the
internal revenue code
Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The
internal revenue code Internal Revenue Code as amended to December 31, 1995, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and as amended by P.L.
104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the
internal revenue code Internal Revenue Code enacted after December 31, 1995, do not apply to this subdivision with respect to taxable years that begin after December 31, 1995, and before January 1, 1997, except that changes to the Internal Revenue Code made by P.L.
104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277 and changes that indirectly affect the provisions applicable to this subchapter made by P.L.
104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, apply for Wisconsin purposes at the same time as for federal purposes.
9,1740k
Section 1740k. 71.26 (2) (b) 12. of the statutes is amended to read:
71.26
(2) (b) 12. For taxable years that begin after December 31, 1996, and before January 1, 1998, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 1996, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as amended by P.L.
105-33 and, P.L.
105-34,
P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit or trust as determined under the
internal revenue code Internal Revenue Code as amended to December 31, 1996, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188 and as amended by P.L.
105-33 and, P.L.
105-34,
P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34,
P.L. 105-206 and P.L. 105-277, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
internal revenue code Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 1996, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as amended by P.L.
105-33 and, P.L.
105-34,
P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the
internal revenue code Internal Revenue Code enacted after December 31, 1996, do not apply to this subdivision with respect to taxable years that begin after December 31, 1996, and before January 1, 1998, except that changes to the Internal Revenue Code made by P.L.
105-33 and, P.L.
105-34
, P.L. 105-206 and P.L. 105-277 and changes that indirectly affect the provisions applicable to this subchapter made by P.L.
105-33 and, P.L.
105-34, P.L. 105-206 and P.L. 105-277 apply for Wisconsin purposes at the same time as for federal purposes.
9,1740L
Section 1740L. 71.26 (2) (b) 13. of the statutes is amended to read:
71.26
(2) (b) 13. For taxable years that begin after December 31, 1997,
and before January 1, 1999, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 1997, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188,
and as amended by P.L. 105-178, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34,
P.L. 105-178, P.L. 105-206 and P.L. 105-277, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit or trust as determined under the Internal Revenue Code as amended to December 31, 1997, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188,
and as amended by P.L. 105-178, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34,
P.L. 105-178, P.L. 105-206 and P.L. 105-277, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 1997, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188,
and as amended by P.L. 105-178, P.L. 105-206 and P.L. 105-277, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33 and, P.L.
105-34,
P.L. 105-178, P.L. 105-206 and P.L. 105-277, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 1997, do not apply to this subdivision with respect to taxable years that begin after December 31, 1997
, and before January 1, 1999, except that changes to the Internal Revenue Code made by P.L. 105-178, P.L. 105-206 and P.L. 105-277 and changes that indirectly affect the provisions applicable to this subchapter made by P.L. 105-178, P.L. 105-206 and P.L. 105-277 apply for Wisconsin purposes at the same time as for federal purposes.
9,1740m
Section 1740m. 71.26 (2) (b) 14. of the statutes is created to read:
71.26
(2) (b) 14. For taxable years that begin after December 31, 1998, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 1998, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and P.L.
105-277, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit or trust as determined under the Internal Revenue Code as amended to December 31, 1998, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and P.L.
105-277, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 1998, excluding sections 103, 104 and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, and as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206 and P.L.
105-277, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 1998, do not apply to this subdivision with respect to taxable years that begin after December 31, 1998.
9,1740n
Section 1740n. 71.26 (3) (L) of the statutes is amended to read:
71.26 (3) (L) Section 265 is excluded and replaced by the rule that any amount otherwise deductible under this chapter that is directly or indirectly related to income wholly exempt from taxes imposed by this chapter or to losses from the sale or other disposition of assets the gain from which would be exempt under this paragraph if the assets were sold or otherwise disposed of at a gain is not deductible. In this paragraph, "wholly exempt income", for corporations subject to franchise or income taxes, includes amounts received from affiliated or subsidiary corporations for interest, dividends or capital gains that, because of the degree of common ownership, control or management between the payor and payee, are not subject to taxes under this chapter. In this paragraph, "wholly exempt income", for corporations subject to income taxation under this chapter, also includes interest on obligations of the United States. In this paragraph, "wholly exempt income" does not include income excludable, not recognized, exempt or deductible under specific provisions of this chapter. If any expense or amount otherwise deductible is indirectly related both to wholly exempt income or loss and to other income or loss, a reasonable proportion of the expense or amount shall be allocated to each type of income or loss, in light of all the facts and circumstances.
9,1741m
Section 1741m. 71.26 (3) (y) of the statutes is amended to read:
71.26 (3) (y) A corporation may compute amortization and depreciation under either the federal internal revenue code Internal Revenue Code as amended to December 31, 1997 1998, or the federal internal revenue code Internal Revenue Code in effect for the taxable year for which the return is filed, except that property first placed in service by the taxpayer on or after January 1, 1983, but before January 1, 1987, that, under s. 71.04 (15) (b) and (br), 1985 stats., is required to be depreciated under the internal revenue code Internal Revenue Code as amended to December 31, 1980, and property first placed in service in taxable year 1981 or thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985 stats., is required to be depreciated under the internal revenue code Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the internal revenue code Internal Revenue Code as amended to December 31, 1980.
9,1741n
Section 1741n. 71.28 (1di) (a) (intro.) of the statutes is amended to read:
71.28
(1di) (a) (intro.) Except as provided in pars. (dm) and (f) and s. 73.03 (35), for any taxable year for which the person is
certified under s. 560.765 (3) for entitled under s. 560.795 (3) to claim tax benefits, any person may claim as a credit against taxes otherwise due under this chapter 2.5% of the purchase price of depreciable, tangible personal property, or 1.75% of the purchase price of depreciable, tangible personal property that is expensed under section
179 of the internal revenue code for purposes of the taxes under this chapter, except that:
9,1741o
Section 1741o. 71.28 (1di) (a) 1. of the statutes is amended to read:
71.28 (1di) (a) 1. The investment must be in property that is purchased after the person is certified under s. 560.765 (3) for entitled under s. 560.795 (3) to claim tax benefits and that is used for at least 50% of its use in the conduct of the person's business operations for which the claimant is certified under s. 560.765 (3) at a location in a development zone under subch. VI of ch. 560 or, if the property is mobile, the base of operations of the property for at least 50% of its use must be a location in a development zone.
9,1741p
Section 1741p. 71.28 (1di) (d) 1. of the statutes is amended to read:
71.28 (1di) (d) 1. A copy of the claimant's certification for a verification from the department of commerce that the claimant may claim tax benefits under s. 560.765 (3) 560.795 (3).
9,1741pm
Section 1741pm. 71.28 (1di) (f) of the statutes is amended to read:
71.28 (1di) (f) If the certification of a person for who is entitled under s. 560.795 (3) to claim tax benefits under s. 560.765 (3) is revoked becomes ineligible for such tax benefits, that person may claim no credits under this subsection for the taxable year that includes the day on which the certification is revoked person becomes ineligible for tax benefits or succeeding taxable years and that person may carry over no unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which certification is revoked
the person becomes ineligible for tax benefits or succeeding taxable years.
9,1741pn
Section 1741pn. 71.28 (1di) (g) of the statutes is amended to read:
71.28 (1di) (g) If a person who is certified under s. 560.765 (3) for entitled under s. 560.795 (3) to claim tax benefits ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.
9,1741pp
Section 1741pp. 71.28 (1di) (j) of the statutes is amended to read:
71.28 (1di) (j) No credit may be claimed under this subsection for taxable years that begin on January 1, 1998, or thereafter after December 31, 1997, and end before January 1, 2000. Credits under this subsection for taxable years that begin before January 1, 1998, may be carried forward to taxable years that begin on January 1, 1998, or thereafter.
9,1741t
Section 1741t. 71.28 (1dj) (am) 1. of the statutes is amended to read:
71.28
(1dj) (am) 1. Modify "member of a targeted group", as defined in section
51 (d) of the internal revenue code as amended to December 31, 1995, to include persons unemployed as a result of a business action subject to s. 109.07 (1m) and
persons specified under 29 USC 1651 (a) dislocated workers, as defined in 29 USC 2801 (9), and to require a member of a targeted group to be a resident of this state.
9,1741v
Section 1741v. 71.28 (1dj) (am) 2. of the statutes is amended to read:
71.28
(1dj) (am) 2. Modify "designated local agency", as defined in section
51 (d) (15) of the internal revenue code, to include the
job training partnership act organization local workforce development board established under 29 USC 2832 for the area that includes the development zone in which the employe in respect to whom the credit under this subsection is claimed works, if the department of commerce approves the criteria used for certification, and the department of commerce.
9,1742
Section
1742. 71.28 (1dj) (am) 3. of the statutes is amended to read:
71.28
(1dj) (am) 3. Modify the rule for certification under section
51 (d) (16) (A) of the internal revenue code to allow certification within the
90-day period beginning with the first day of employment of the employe
by the claimant.
9,1742g
Section 1742g. 71.28 (1dx) (b) (intro.) of the statutes is amended to read:
71.28 (1dx) (b) Credit. (intro.) Except as provided in s. 73.03 (35) and subject to s. 560.785, for any taxable year for which the person is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3) or 560.797 (4), any person may claim as a credit against taxes imposed on the person's income from the person's business activities in a development zone under this subchapter the following amounts:
9,1743
Section
1743. 71.28 (1dx) (b) 4. of the statutes is amended to read:
71.28 (1dx) (b) 4. The amount determined by multiplying the amount determined under s. 560.785 (1) (b) (bm) by the number of full-time jobs retained, as provided in the rules under s. 560.785, excluding jobs for which a credit has been claimed under sub. (1dj), in a
an enterprise development zone under s. 560.797 and filled by a member of a targeted group for which significant capital investment was made and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.
9,1743b
Section 1743b. 71.28 (1dx) (c) of the statutes is amended to read:
71.28 (1dx) (c) Credit precluded. If the certification of a person for tax benefits under s. 560.765 (3) or 560.797 (4) is revoked, or if the person becomes ineligible for tax benefits under s. 560.795 (3), that person may not claim credits under this subsection for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years and that person may not carry over unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years.
9,1743bb
Section 1743bb. 71.28 (1dx) (d) of the statutes is amended to read:
71.28 (1dx) (d) Carry-over precluded. If a person who is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3) or 560.797 (4) for tax benefits ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.
9,1743d
Section 1743d. 71.28 (1dy) of the statutes is created to read:
71.28 (1dy) Sustainable urban development zone credit. (a) Definitions. In this subsection:
1. "Brownfield" has the meaning given in sub. (1dx) (a) 1.
2. "Environmental remediation" means removal or containment of environmental pollution, as defined in s. 299.01 (4), and restoration of soil or groundwater that is affected by environmental pollution, as defined in s. 299.01 (4), in a brownfield and investigation unless the investigation determines that remediation is required but remediation is not undertaken.
(b) Credit. For any taxable year for which the person is certified under s. 292.77 (5), a person may claim as a credit against taxes imposed under this subchapter 50% of the amount expended for environmental remediation under the program under s. 292.77.
(c) Administration. Subsection (1dx) (c), (d) and (e), as it applies to the credit under sub. (1dx), applies to the credit under this subsection.
9,1744bd
Section 1744bd. 71.28 (2m) (b) 1. a. of the statutes is amended to read:
