71.05 (6) (b) 40. (intro.) For taxable years beginning after December 31, 2008 2010, and before January 1, 2010 2012, an amount paid by an individual who is the employee of another person, if the individual's employer pays a portion of the cost of the individual's medical care insurance, for medical care insurance for the individual, his or her spouse, and the individual's dependents, calculated as follows:
28,1543hm
Section 1543hm. 71.05 (6) (b) 41. (intro.) of the statutes is amended to read:
71.05 (6) (b) 41. (intro.) For taxable years beginning after December 31, 2009 2011, and before January 1, 2011 2013, an amount paid by an individual who is the employee of another person, if the individual's employer pays a portion of the cost of the individual's medical care insurance, for medical care insurance for the individual, his or her spouse, and the individual's dependents, calculated as follows:
28,1543hs
Section 1543hs. 71.05 (6) (b) 42. (intro.) of the statutes is amended to read:
71.05 (6) (b) 42. (intro.) For taxable years beginning after December 31, 2010 2012, an amount paid by an individual who is the employee of another person, if the individual's employer pays a portion of the cost of the individual's medical care insurance, for medical care insurance for the individual, his or her spouse, and the individual's dependents, calculated as follows:
28,1543j
Section 1543j. 71.05 (6) (b) 43. a. of the statutes is amended to read:
71.05 (6) (b) 43. a. For taxable years beginning after December 31, 2008 2010, and before January 1, 2010 2012, up to $750 if the claimant has one qualified individual and up to $1,500 if the claimant has more than one qualified individual.
28,1543je
Section 1543je. 71.05 (6) (b) 43. b. of the statutes is amended to read:
71.05 (6) (b) 43. b. For taxable years beginning after December 31, 2009 2011, and before January 1, 2011 2013, up to $1,500 if the claimant has one qualified individual and up to $3,000 if the claimant has more than one qualified individual.
28,1543jm
Section 1543jm. 71.05 (6) (b) 43. c. of the statutes is amended to read:
71.05 (6) (b) 43. c. For taxable years beginning after December 31, 2010 2012, and before January 1, 2012 2014, up to $2,250 if the claimant has one qualified individual and up to $4,500 if the claimant has more than one qualified individual.
28,1543js
Section 1543js. 71.05 (6) (b) 43. d. of the statutes is amended to read:
71.05 (6) (b) 43. d. For taxable years beginning after December 31, 2011 2013, up to $3,000 if the claimant has one qualified individual and up to $6,000 if the claimant has more than one qualified individual.
28,1543s
Section 1543s. 71.05 (22) (dt) of the statutes is amended to read:
71.05 (22) (dt) Standard deduction indexing, 2001 and thereafter. For taxable years beginning after December 31, 2000, the dollar amounts of the standard deduction that is allowable under par. (dp) and all of the dollar amounts of Wisconsin adjusted gross income under par. (dp) 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 1999, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, 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 paragraph 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 paragraph and incorporate the changes into the income tax forms and instructions.
28,1544
Section
1544. 71.05 (24) of the statutes is created to read:
71.05 (24) Income tax deferral; long-term capital assets. (a) In this subsection:
1. "Claimant" means an individual; an individual partner or member of a partnership, limited liability company, or limited liability partnership; or an individual shareholder of a tax-option corporation.
2. "Financial institution" has the meaning given in s. 69.30 (1) (b).
3. "Long-term capital gain" means the gain realized from the sale of any capital asset held more than one year that is treated as a long-term gain under the Internal Revenue Code.
4. "Qualified new business venture" means a business certified by the department of commerce under s. 560.208.
(b) For taxable years beginning after December 31, 2010, a claimant may subtract from federal adjusted gross income any amount, up to $10,000,000, of a long-term capital gain if the claimant does all of the following:
1. Deposits the gain into a segregated account in a financial institution.
2. Within 180 days after the sale of the asset that generated the gain, invests all of the proceeds in the account described under subd. 1. in a qualified new business venture.
3. After making the investment as described under subd. 2., notifies the department, on a form prepared by the department, that the claimant will not declare on the claimant's income tax return the gain described under subd. 1. because the claimant has reinvested the capital gain as described under subd. 2. The form shall be sent to the department along with the claimant's income tax return for the year to which the claim relates.
(c) The basis of the investment described in par. (b) 2. shall be calculated by subtracting the gain described in par. (b) 1. from the amount of the investment described in par. (b) 2.
(d) If a claimant defers the payment of income taxes on a capital gain under this subsection, the claimant may not use the gain described under par. (b) 1. to net capital gains and losses, as described under sub. (10) (c).
28,1545
Section
1545. 71.06 (1p) (d) of the statutes is amended to read:
71.06 (1p) (d) On all taxable income exceeding $112,500 but not exceeding $225,000, 6.75%.
28,1546
Section
1546. 71.06 (1p) (e) of the statutes is created to read:
71.06 (1p) (e) On all taxable income exceeding $225,000, 7.75 percent.
28,1547
Section
1547. 71.06 (2) (g) 4. of the statutes is amended to read:
71.06 (2) (g) 4. On all taxable income exceeding $150,000 but not exceeding $300,000, 6.75%.
28,1548
Section
1548. 71.06 (2) (g) 5. of the statutes is created to read:
71.06 (2) (g) 5. On all taxable income exceeding $300,000, 7.75 percent.
28,1549
Section
1549. 71.06 (2) (h) 4. of the statutes is amended to read:
71.06 (2) (h) 4. On all taxable income exceeding $75,000 but not exceeding $150,000, 6.75%.
28,1550
Section
1550. 71.06 (2) (h) 5. of the statutes is created to read:
71.06 (2) (h) 5. On all taxable income exceeding $150,000, 7.75 percent.
28,1551
Section
1551. 71.06 (2e) of the statutes is renumbered 71.06 (2e) (a) and amended to read:
71.06 (2e) (a) For taxable years beginning after December 31, 1998, and before January 1, 2000, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1m) and (2) (c) and (d), and for taxable years beginning after December 31, 1999, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1n), (1p) (a) to (c), and (2) (e), (f), (g) 1. to 3., and (h) 1. to 3., 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 1997, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2000, and before January 1, 2002, the dollar amount in the top bracket under subs. (1p) (c) and (d), (2) (g) 3. and 4. and (h) 3. and 4. shall be increased 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 1999, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, 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 subsection paragraph 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 subsection paragraph and incorporate the changes into the income tax forms and instructions.
28,1552
Section
1552. 71.06 (2e) (b) of the statutes is created to read:
71.06 (2e) (b) For taxable years beginning after December 31, 2009, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1p) (d) and (2) (g) 4. and (h) 4., and the dollar amount in the top bracket under subs. (1p) (e) and (2) (g) 5. and (h) 5., 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 2008, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, 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 paragraph 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 paragraph and incorporate the changes into the income tax forms and instructions.
28,1554
Section
1554. 71.07 (2fd) of the statutes is repealed.
28,1554d
Section 1554d. 71.07 (3h) (b) of the statutes is amended to read:
71.07 (3h) (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2009 2011, and before January 1, 2013 2015, for a claimant who produces at least 2,500,000 gallons of biodiesel fuel in this state in the taxable year, a claimant may claim as a credit against the tax imposed under s. 71.02, up to the amount of the tax, an amount that is equal to the number of gallons of biodiesel fuel produced by the claimant in this state in the taxable year multiplied by 10 cents.
28,1555
Section
1555. 71.07 (3m) (a) 1. (intro.) of the statutes is amended to read:
71.07 (3m) (a) 1. (intro.) "Claimant" means an owner of farmland, as defined in s. 91.01 (9), 2007 stats., of farmland domiciled in this state during the entire year for which a credit under this subsection is claimed, except as follows:
28,1556
Section
1556. 71.07 (3m) (a) 3. of the statutes is amended to read:
71.07
(3m) (a) 3. "Farmland" means 35 or more acres of real property, exclusive of improvements, in this state, in agricultural use, as defined in s. 91.01 (1),
2007 stats., and owned by the claimant or any member of the claimant's household during the taxable year for which a credit under this subsection is claimed if the farm of which the farmland is a part, during that year, produced not less than $6,000 in gross farm profits resulting from agricultural use, as defined in s. 91.01 (1),
2007 stats., or if the farm of which the farmland is a part, during that year and the 2 years immediately preceding that year, produced not less than $18,000 in such profits, or if at least 35 acres of the farmland, during all or part of that year, was enrolled in the conservation reserve program under
16 USC 3831 to
3836.
28,1557
Section
1557. 71.07 (3m) (a) 4. of the statutes is amended to read:
71.07
(3m) (a) 4. "Gross farm profits" means gross receipts, excluding rent, from agricultural use, as defined in s. 91.01 (1)
, 2007 stats., including the fair market value at the time of disposition of payments in kind for placing land in federal programs or payments from the federal dairy termination program under
7 USC 1446 (d), less the cost or other basis of livestock or other items purchased for resale which are sold or otherwise disposed of during the taxable year.
28,1558
Section
1558. 71.07 (3m) (e) of the statutes is created to read:
71.07 (3m) (e) Sunset. No new claim may be filed under this subsection for a taxable year that begins after December 31, 2009.
28,1569
Section
1569. 71.07 (3q) of the statutes is created to read:
71.07 (3q) Jobs tax credit. (a)
Definitions. In this subsection:
1. "Claimant" means a person certified to receive tax benefits under s. 560.2055 (2).
2. "Eligible employee" means an eligible employee under s. 560.2055 (1) (b) who satisfies the wage requirements under s. 560.2055 (3) (a) or (b).
(b) Filing claims. Subject to the limitations provided in this subsection and s. 560.2055, for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the taxes imposed under ss. 71.02 and 71.08 any of the following.
1. The amount of wages that the claimant paid to an eligible employee in the taxable year, not to exceed 10 percent of such wages, as determined by the department of commerce under s. 560.2055.
2. The amount of the costs incurred by the claimant in the taxable year, as determined under s. 560.2055, to undertake the training activities described under s. 560.2055 (3) (c).
(c) Limitations. 1. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.
2. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification for tax benefits under s. 560.2055 (2).
3. The maximum amount of credits that may be awarded under this subsection and ss. 71.28 (3q) and 71.47 (3q) for the period beginning on January 1, 2010, and ending on June 30, 2013, is $14,500,000.
(d) Administration. 1. Section 71.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.
2. If the allowable amount of the claim under par. (b) exceeds the tax otherwise due under ss. 71.02 and 71.08, the amount of the claim not used to offset the tax due shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (bb), except that the amounts certified under this subdivision for taxable years beginning after December 31, 2009, and before January 1, 2012, shall be paid in taxable years beginning after December 31, 2011.
28,1571
Section
1571. 71.07 (3s) (a) 1. of the statutes is amended to read:
71.07 (3s) (a) 1. "Manufacturing" has the meaning given in s. 77.54 (6m), 2007 stats.
71.07 (3w) (bm) 1. In addition to the credits under par. (b) and subd. subds. 2. and 3., and subject to the limitations provided in this subsection and s. 560.799, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount equal to a percentage, as determined by the department of commerce, not to exceed 100 percent, of the amount the claimant paid in the taxable year to upgrade or improve the job-related skills of any of the claimant's full-time employees, to train any of the claimant's full-time employees on the use of job-related new technologies, or to provide job-related training to any full-time employee whose employment with the claimant represents the employee's first full-time job. This subdivision does not apply to employees who do not work in an enterprise zone.
71.07 (3w) (bm) 2. In addition to the credits under par. (b) and subd. subds. 1. and 3., and subject to the limitations provided in this subsection and s. 560.799, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount equal to the percentage, as determined by the department of commerce under s. 560.799, not to exceed 7 percent, of the claimant's zone payroll paid in the taxable year to all of the claimant's full-time employees whose annual wages are greater than $20,000 in a tier I county or municipality, not including the wages paid to the employees determined under par. (b) 1., or greater than $30,000 in a tier II county or municipality, not including the wages paid to the employees determined under par. (b) 1., and who the claimant employed in the enterprise zone in the taxable year, if the total number of such employees is equal to or greater than the total number of such employees in the base year. A claimant may claim a credit under this subdivision for no more than 5 consecutive taxable years.
28,1571f
Section 1571f. 71.07 (3w) (bm) 3. of the statutes is created to read:
71.07 (3w) (bm) 3. In addition to the credits under par. (b) and subds. 1. and 2., and subject to the limitations provided in this subsection and s. 560.799, for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 up to 10 percent of the claimant's significant capital expenditures, as determined by the department of commerce under s. 560.799 (5m).
28,1571g
Section 1571g. 71.07 (3w) (c) 3. of the statutes is amended to read:
71.07 (3w) (c) 3. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification for tax benefits under s. 560.799 (5) or (5m).
28,1572
Section
1572. 71.07 (5) (a) 3. of the statutes is amended to read:
71.07
(5) (a) 3. Casualty and theft deductions under section
165 (c) (3) of the internal revenue code
, except for casualty losses that are directly related to a presidentially declared disaster under 26 USC 7508A.
28,1575
Section
1575. 71.07 (5b) (d) 3. of the statutes is created to read:
71.07 (5b) (d) 3. For calendar years beginning after December 31, 2007, if an investment for which a claimant claims a credit under par. (b) is held by the claimant for less than 3 years, the claimant shall pay to the department, in the manner prescribed by the department, the amount of the credit that the claimant received related to the investment.
28,1579
Section
1579. 71.07 (5d) (d) 1. of the statutes is amended to read:
71.07 (5d) (d) 1. If For calendar years beginning after December 31, 2007, if an investment for which a claimant claims a credit under par. (b) is held by the claimant for less than one year 3 years, the claimant shall pay to the department, in the manner prescribed by the department, the amount of the credit that the claimant received related to the investment.
28,1579x
Section 1579x. 71.07 (5f) of the statutes is repealed and recreated to read:
71.07 (5f) Film production services credit. (a) Definitions. In this subsection:
1. "Accredited production" means a film, video, broadcast advertisement, or television production, as approved by the department of commerce, for which the aggregate salary and wages included in the cost of the production for the period ending 12 months after the month in which the principal filming or taping of the production begins exceeds
$100,000 for a production that is 30 minutes or longer or $50,000
for a production that is less than 30 minutes . "Accredited production" also means an electronic game, as approved by the department of commerce, for which the aggregate salary and wages included in the cost of the production for the period ending 36 months after the month in which the principal programming, filming, or taping of the production begins exceeds $100,000. "Accredited production" does not include any of the following, regardless of the production costs:
a. News, current events, or public programming or a program that includes weather or market reports.
b. A talk show.
c. A production with respect to a questionnaire or contest.
d. A sports event or sports activity.
