AB150-ASA, s. 3394m
9Section 3394m. 71.10 (4) (gh) and (gi) of the statutes are created to read:
AB150-ASA,1127,1010
71.10
(4) (gh) Development zones day care credit under s. 71.07 (2dd).
AB150-ASA,1127,1111
(gi) Development zones environmental remediation credit under s. 71.07 (2de).
AB150-ASA, s. 3395
12Section
3395. 71.10 (5) (h) (intro.) of the statutes is amended to read:
AB150-ASA,1127,1513
71.10
(5) (h)
Certification of amounts. (intro.) Annually, on or before
14September 15, the secretary of revenue shall certify to the department of natural
15resources
, and the
department secretary of administration
and the state treasurer:
AB150-ASA,1127,1917
71.10
(5m) Domestic abuse awareness and prevention. (a)
Definitions. In this
18subsection, "domestic abuse program" means the program described under s. 46.95
19(4).
AB150-ASA,1127,2220
(b)
Voluntary payments. 1. `Designation on return'. Any individual filing an
21income tax return may designate on the return any amount of additional payment
22or any amount of a refund due that individual for the domestic abuse program.
AB150-ASA,1127,2523
2. `Designation added to tax owed'. If the individual owes any tax, the
24individual shall remit in full the tax due and the amount designated on the return
25for the domestic abuse program when the individual files a tax return.
AB150-ASA,1128,4
13. `Designation deducted from refund'. Except as provided under par. (d) if the
2individual is owed a refund for that year after crediting under ss. 71.75 (9) and 71.80
3(3), the department of revenue shall deduct the amount designated on the return for
4the domestic abuse program from the amount of the refund.
AB150-ASA,1128,85
(c)
Errors; failure to remit correct amount. If an individual who owes taxes fails
6to remit an amount equal to or in excess of the total of the actual tax due, after error
7corrections, and the amount designated on the return for the domestic abuse
8program:
AB150-ASA,1128,139
1. The department shall reduce the designation for the domestic abuse program
10to reflect the amount remitted in excess of the actual tax due, after error corrections,
11if the individual remitted an amount in excess of the actual tax due, after error
12corrections, but less than the total of the actual tax due, after error corrections, and
13the amount originally designated on the return for the domestic abuse program.
AB150-ASA,1128,1514
2. The designation for the domestic abuse program is void if the individual
15remitted an amount equal to or less than the actual tax due, after error corrections.
AB150-ASA,1128,2116
(d)
Errors; insufficient refund. If an individual who is owed a refund which does
17not equal or exceed the amount designated on the return for the domestic abuse
18program, after crediting under ss. 71.75 (9) and 71.80 (3) and after error corrections,
19the department shall reduce the designation for the domestic abuse program to
20reflect the actual amount of the refund the individual is otherwise owed, after
21crediting under ss. 71.75 (9) and 71.80 (3) and after error corrections.
AB150-ASA,1128,2322
(e)
Conditions. If an individual places any conditions on a designation for the
23domestic abuse program, the designation is void.
AB150-ASA,1129,3
1(f)
Void designation. If a designation for the domestic abuse program is void,
2the department of revenue shall disregard the designation and determine amounts
3due, owed, refunded and received without regard to the void designation.
AB150-ASA,1129,74
(g)
Tax return. The secretary of revenue shall provide a place for the
5designations under this subsection on the individual income tax return and the
6secretary shall highlight that place on the return by a symbol chosen by the
7department of revenue that relates to domestic abuse prevention and awareness.
AB150-ASA,1129,118
(h)
Certification of amounts. Annually, on or before September 15, the
9secretary of revenue shall certify to the department of health and social services and
10the secretary of administration, and on or before September 15, 1995, the secretary
11of revenue shall also certify to the state treasurer:
AB150-ASA,1129,1412
1. The total amount of the administrative costs, including data processing
13costs, incurred by the department of revenue in administering this subsection during
14the previous fiscal year.
AB150-ASA,1129,1615
2. The total amount received from all designations for the domestic abuse
16program made by taxpayers during the previous fiscal year.
AB150-ASA,1129,1917
3. The net amount remaining after the administrative costs, including data
18processing costs, under subd. 1. are subtracted from the total received under subd.
192.
AB150-ASA,1129,2420
4. From the moneys received from designations for the domestic abuse
21program, an amount equal to the sum of administrative expenses, including data
22processing costs, certified under subd. 1. shall be deposited in the general fund and
23credited to the appropriation under s. 20.566 (1) (hp), and the net amount remaining
24certified under subd. 3. shall be credited to the appropriation under s. 20.435 (1) (hk).
AB150-ASA,1130,7
15. Amounts designated for the domestic abuse program under this subsection
2are not subject to refund to the taxpayer unless the taxpayer submits information to
3the satisfaction of the department within 18 months after the date taxes are due or
4the date the return is filed, whichever is later, that the amount designated is clearly
5in error. Any refund granted by the department of revenue under this subdivision
6shall be deducted from the moneys received under this subsection in the fiscal year
7that the refund is certified.
AB150-ASA,1131,410
71.22
(4) (h) Except as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34
11(1g) and 71.42 (2), "internal revenue code", for taxable years that begin after
12December 31, 1992, and before January 1, 1994, means the federal internal revenue
13code as amended to December 31, 1992, excluding sections 103, 104 and 110 of P.L.
14102-227, and as amended by P.L.
103-66, excluding sections 13101 (a) and (c) 1,
1513113, 13150, 13171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 and as
16indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
17100-203, P.L.
100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821
18(b) (2) and 823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
19101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
20excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 21P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and
2213203 of P.L.
103-66 and P.L. 103-465. The internal revenue code applies for
23Wisconsin purposes at the same time as for federal purposes. Amendments to the
24federal internal revenue code enacted after December 31, 1992, do not apply to this
25paragraph with respect to taxable years beginning after December 31, 1992, and
1before January 1, 1994, except that changes to the internal revenue code made by
2P.L.
103-66 and P.L. 103-465 and changes that indirectly affect the provisions
3applicable to this subchapter made by P.L.
103-66 and P.L. 103-465 apply for
4Wisconsin purposes at the same time as for federal purposes.
AB150-ASA,1132,26
71.22
(4) (i) Except as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34
7(1g) and 71.42 (2), "internal revenue code", for taxable years that begin after
8December 31, 1993,
and before January 1, 1995, means the federal internal revenue
9code as amended to December 31, 1993, excluding sections 103, 104 and 110 of P.L.
10102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
11103-66,
and as amended by P.L. 103-296, P.L. 103-337 and P.L. 103-465 and as
12indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
13100-203, P.L.
100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821
14(b) (2) and 823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
15101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
16excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 17P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and
1813215 of P.L.
103-66 and P.L. 103-296, P.L. 103-337 and P.L. 103-465. The internal
19revenue code applies for Wisconsin purposes at the same time as for federal purposes.
20Amendments to the federal internal revenue code enacted after December 31, 1993,
21do not apply to this paragraph with respect to taxable years beginning after
22December 31, 1993
, and before January 1, 1995, except that changes to the internal
23revenue code made by P.L. 103-296, P.L. 103-337 and P.L. 103-465 and changes that
24indirectly affect the provisions applicable to this subchapter made by P.L. 103-296,
1P.L. 103-337 and P.L. 103-465 apply for Wisconsin purposes at the same time as for
2federal purposes.
AB150-ASA,1132,184
71.22
(4) (j) Except as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34
5(1g) and 71.42 (2), "internal revenue code", for taxable years that begin after
6December 31, 1994, means the federal internal revenue code as amended to
7December 31, 1994, excluding sections 103, 104 and 110 of P.L.
102-227 and sections
813113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and as indirectly
9affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
10P.L.
100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2) and
11823 (c) (2) of P.L.
99-514 and section 1008 (g) (5) of P.L.
100-647, P.L.
101-73, P.L.
12101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
13103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
14sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66 and P.L.
15103-296, P.L.
103-337 and P.L.
103-465. The internal revenue code applies for
16Wisconsin purposes at the same time as for federal purposes. Amendments to the
17federal internal revenue code enacted after December 31, 1994, do not apply to this
18paragraph with respect to taxable years beginning after December 31, 1994.
AB150-ASA,1133,1220
71.22
(4m) (f) For taxable years that begin after December 31, 1992, and before
21January 1, 1994, "internal revenue code", for corporations that are subject to a tax
22on unrelated business income under s. 71.26 (1) (a), means the federal internal
23revenue code as amended to December 31, 1992, excluding sections 103, 104 and 110
24of P.L.
102-227, and as amended by P.L.
103-66, excluding sections 13101 (a) and (c)
251, 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 and as
1indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
2100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
3101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
4102-318, P.L.
102-486 and, P.L.
103-66, excluding sections 13101 (a) and (c) 1,
513113, 13150, 13171, 13174 and 13203 of P.L.
103-66 and P.L. 103-465. The internal
6revenue code applies for Wisconsin purposes at the same time as for federal purposes.
7Amendments to the internal revenue code enacted after December 31, 1992, do not
8apply to this paragraph with respect to taxable years beginning after December 31,
91992, and before January 1, 1994, except that changes to the internal revenue code
10made by P.L.
103-66 and P.L. 103-465 and changes that indirectly affect the
11provisions applicable to this subchapter made by P.L.
103-66 and P.L. 103-465 apply
12for Wisconsin purposes at the same time as for federal purposes.
AB150-ASA,1134,714
71.22
(4m) (g) For taxable years that begin after December 31, 1993,
and before
15January 1, 1995, "internal revenue code", for corporations that are subject to a tax
16on unrelated business income under s. 71.26 (1) (a), means the federal internal
17revenue code as amended to December 31, 1993, excluding sections 103, 104 and 110
18of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215
19of P.L.
103-66,
and as amended by P.L. 103-296, P.L. 103-337 and P.L. 103-465 and
20as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514,
21P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239,
22P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
23102-318, P.L.
102-486 and, P.L.
103-66, excluding sections 13113, 13150 (d), 13171
24(d), 13174, 13203 (d) and 13215 of P.L.
103-66, P.L. 103-296, P.L. 103-337 and P.L.
25103-465. The internal revenue code applies for Wisconsin purposes at the same time
1as for federal purposes. Amendments to the internal revenue code enacted after
2December 31, 1993, do not apply to this paragraph with respect to taxable years
3beginning after December 31, 1993
, and before January 1, 1995, except that changes
4to the internal revenue code made by P.L. 103-296, P.L. 103-337 and P.L. 103-465
5and changes that indirectly affect the provisions applicable to this subchapter made
6by P.L. 103-296, P.L. 103-337 and P.L. 103-465 apply for Wisconsin purposes at the
7same time as for federal purposes.
AB150-ASA,1134,229
71.22
(4m) (h) For taxable years that begin after December 31, 1994, "internal
10revenue code", for corporations that are subject to a tax on unrelated business income
11under s. 71.26 (1) (a), means the federal internal revenue code as amended to
12December 31, 1994, excluding sections 103, 104 and 110 of P.L.
102-227 and sections
1313113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
103-66, and as indirectly
14affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
15P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508,
16P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
17102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and
1813203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337 and P.L.
103-465. The internal
19revenue code applies for Wisconsin purposes at the same time as for federal purposes.
20Amendments to the internal revenue code enacted after December 31, 1994, do not
21apply to this paragraph with respect to taxable years beginning after December 31,
221994.
AB150-ASA,1135,2224
71.26
(1) (a)
Certain corporations. Income of corporations organized under ch.
25185
, except income of a cooperative sickness care association organized under s.
1185.981, or of a service insurance corporation organized under ch. 613, that is derived
2from a health maintenance organization as defined in s. 609.01 (2) or a limited
3service health organization as defined in s. 609.01 (3), or operating under subch. I
4of ch. 616 which are bona fide cooperatives operated without pecuniary profit to any
5shareholder or member, or operated on a cooperative plan pursuant to which they
6determine and distribute their proceeds in substantial compliance with s. 185.45,
7and the income, except the unrelated business taxable income as defined in section
8512 of the internal revenue code
and except income that is derived from a health
9maintenance organization as defined in s. 609.01 (2) or a limited service health
10organization as defined in s. 609.01 (3), of all religious, scientific, educational,
11benevolent or other corporations or associations of individuals not organized or
12conducted for pecuniary profit. This paragraph does not apply to the income of
13savings banks, mutual loan corporations or savings and loan associations. This
14paragraph applies to the income of credit unions except to the income of any credit
15union that is derived from public deposits for any taxable year in which the credit
16union is approved as a public depository under ch. 34 and acts as a depository of state
17or local funds under s. 186.113 (20). For purposes of this paragraph, the income of
18a credit union that is derived from public deposits is the product of the credit union's
19gross annual income for the taxable year multiplied by a fraction, the numerator of
20which is the average monthly balance of public deposits in the credit union during
21the taxable year, and the denominator of which is the average monthly balance of all
22deposits in the credit union during the taxable year.
AB150-ASA,1135,2524
71.26
(1) (be)
Certain authorities. Income of the University of Wisconsin
25Hospitals and Clinics Authority.
AB150-ASA,1136,122
71.26
(1) (d)
Bank in liquidation. Income of any bank placed in the hands of
3the
commissioner division of banking for liquidation under s. 220.08, if the tax levied,
4assessed or collected under this chapter on account of such bank diminishes the
5assets thereof so that full payment of all depositors cannot be made. Whenever the
6commissioner division of banking certifies to the department of revenue that the tax
7or any part thereof levied and assessed under this chapter against any such bank will
8so diminish the assets thereof that full payment of all depositors cannot be made, the
9department
of revenue shall cancel and abate such tax or part thereof, together with
10any penalty thereon. This paragraph shall apply to unpaid taxes which were levied
11and assessed subsequent to the time the bank was taken over by the
commissioner
12division of banking.
AB150-ASA,1137,514
71.26
(1) (e)
Menominee Indian tribe; distribution of assets. No distribution of
15assets from the United States to the members of the Menominee Indian tribe as
16defined in s.
49.085 49.385 or their lawful distributees, or to any corporation, or
17organization, created by the tribe or at its direction pursuant to section 8 of P.L.
1883-399, as amended, and no issuance of stocks, bonds, certificates of indebtedness,
19voting trust certificates or other securities by any such corporation or organization,
20or voting trust, to such members of the tribe or their lawful distributees shall be
21subject to income or franchise taxes under this chapter; provided that so much of any
22cash distribution made under said P.L.
83-399 as consists of a share of any interest
23earned on funds deposited in the treasury of the United States pursuant to the
24supplemental appropriation act, 1952, (65 Stat. 736, 754) shall not by virtue of this
25paragraph be exempt from the individual income tax of this state in the hands of the
1recipients for the year in which paid. For the purpose of ascertaining the gain or loss
2resulting from the sale or other disposition of such assets and stocks, bonds,
3certificates of indebtedness and other securities under this chapter, the fair market
4value of such property, on termination date as defined in s. 70.057 (1), 1967 stats.,
5shall be the basis for determining the amount of such gain or loss.
AB150-ASA,1137,217
71.26
(2) (a)
Corporations in general. The "net income" of a corporation means
8the gross income as computed under the internal revenue code as modified under
9sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit
10computed under s. 71.28 (1) and (3) to (5) plus the amount of the credit computed
11under s. 71.28
(1dd), (1de), (1di), (1dj), (1dL) and (1ds) and not passed through by a
12partnership, limited liability company or tax-option corporation that has added that
13amount to the partnership's, limited liability company's or tax-option corporation's
14income under s. 71.21 (4) or 71.34 (1) (g) plus the amount of losses from the sale or
15other disposition of assets the gain from which would be wholly exempt income, as
16defined in sub. (3) (L), if the assets were sold or otherwise disposed of at a gain and
17minus deductions, as computed under the internal revenue code as modified under
18sub. (3), plus or minus, as appropriate, an amount equal to the difference between
19the federal basis and Wisconsin basis of any asset sold, exchanged, abandoned or
20otherwise disposed of in a taxable transaction during the taxable year, except as
21provided in par. (b) and s. 71.45 (2)
and (5).
AB150-ASA,1139,1824
71.26
(2) (b) 8. For taxable years that begin after December 31, 1992, and before
25January 1, 1994, for a corporation, conduit or common law trust which qualifies as
1a regulated investment company, real estate mortgage investment conduit or real
2estate investment trust under the internal revenue code as amended to December
331, 1992, excluding sections 103, 104 and 110 of P.L.
102-227, and as amended by P.L.
4103-66, excluding sections 13101 (a) and (c) 1., 13113, 13150, 13171, 13174 and
513203 of P.L.
103-66,
and P.L. 103-465 and as indirectly affected in the provisions
6applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
7101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
8excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 9P.L.
103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and
1013203 of P.L.
103-66,
and P.L. 103-465 "net income" means the federal regulated
11investment company taxable income, federal real estate mortgage investment
12conduit taxable income or federal real estate investment trust taxable income of the
13corporation, conduit or trust as determined under the internal revenue code as
14amended to December 31, 1992, excluding sections 103, 104 and 110 of P.L.
102-227,
15and as amended by P.L.
103-66,
and P.L. 103-465 excluding sections 13101 (a) and
16(c) 1, 13113, 13150, 13171, 13174 and 13203 of P.L.
103-66, and as indirectly affected
17in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
18100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
19102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
20102-486 and P.L.
103-66, excluding sections 13101 (a) and (c) 1., 13113, 13150,
2113171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 except that property that,
22under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable
23years 1983 to 1986 under the internal revenue code as amended to December 31,
241980, shall continue to be depreciated under the internal revenue code as amended
25to December 31, 1980, and except that the appropriate amount shall be added or
1subtracted to reflect differences between the depreciation or adjusted basis for
2federal income tax purposes and the depreciation or adjusted basis under this
3chapter of any property disposed of during the taxable year. The internal revenue
4code as amended to December 31, 1992, excluding sections 103, 104 and 110 of P.L.
5102-227, and as amended by P.L.
103-66, excluding sections 13101 (a) and (c) 1,
613113, 13150, 13171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 and as
7indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
8100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
9101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
10102-318, P.L.
102-486 and, P.L.
103-66, excluding sections 13101 (a) and (c) 1,
1113113, 13150, 13171, 13174 and 13203 of P.L.
103-66,
and P.L. 103-465 applies for
12Wisconsin purposes at the same time as for federal purposes. Amendments to the
13internal revenue code enacted after December 31, 1992, do not apply to this
14subdivision with respect to taxable years that begin after December 31, 1992, and
15before January 1, 1994, except that changes to the internal revenue code made by
16P.L.
103-66 and P.L. 103-465 and changes that indirectly affect the provisions
17applicable to this subchapter made by P.L.
103-66 and P.L. 103-465 apply for
18Wisconsin purposes at the same time as for federal purposes.
AB150-ASA,1141,1520
71.26
(2) (b) 9. For taxable years that begin after December 31, 1993
, and before
21January 1, 1995, for a corporation, conduit or common law trust which qualifies as
22a regulated investment company, real estate mortgage investment conduit or real
23estate investment trust under the internal revenue code as amended to December
2431, 1993, excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113,
2513150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66,
and as amended by
1P.L. 103-296, P.L. 103-337 and P.L. 103-465 and as indirectly affected in the
2provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647,
3P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
4excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 5P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and
613215 of P.L.
103-66,
P.L. 103-296, P.L. 103-337 and P.L. 103-465 "net income"
7means the federal regulated investment company taxable income, federal real estate
8mortgage investment conduit taxable income or federal real estate investment trust
9taxable income of the corporation, conduit or trust as determined under the internal
10revenue code as amended to December 31, 1993, excluding sections 103, 104 and 110
11of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215
12of P.L.
103-66,
and as amended by P.L. 103-296, P.L. 103-337 and P.L. 103-465 and
13as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514,
14P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239,
15P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
16102-318, P.L.
102-486 and, P.L.
103-66,
P.L. 103-296, P.L. 103-337 and P.L.
17103-465 excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215
18of P.L.
103-66, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats.,
19is required to be depreciated for taxable years 1983 to 1986 under the internal
20revenue code as amended to December 31, 1980, shall continue to be depreciated
21under the internal revenue code as amended to December 31, 1980, and except that
22the appropriate amount shall be added or subtracted to reflect differences between
23the depreciation or adjusted basis for federal income tax purposes and the
24depreciation or adjusted basis under this chapter of any property disposed of during
25the taxable year. The internal revenue code as amended to December 31, 1993,
1excluding sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d),
213171 (d), 13174, 13203 (d) and 13215 of P.L.
103-66,
and as amended by P.L.
3103-296, P.L. 103-337 and P.L. 103-465 and as indirectly affected in the provisions
4applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
5101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
6excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and, 7P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and
813215 of P.L.
103-66,
P.L. 103-296, P.L. 103-337 and P.L. 103-465 applies for
9Wisconsin purposes at the same time as for federal purposes. Amendments to the
10internal revenue code enacted after December 31, 1993, do not apply to this
11subdivision with respect to taxable years that begin after December 31, 1993
, and
12before January 1, 1995, except that changes to the internal revenue code made by
13P.L. 103-296, P.L. 103-337 and P.L. 103-465 and changes that indirectly affect the
14provisions applicable to this subchapter made by P.L. 103-296, P.L. 103-337 and P.L.
15103-465 apply for Wisconsin purposes at the same time as for federal purposes.
AB150-ASA,1143,517
71.26
(2) (b) 10. For taxable years that begin after December 31, 1994, for a
18corporation, conduit or common law trust which qualifies as a regulated investment
19company, real estate mortgage investment conduit or real estate investment trust
20under the internal revenue code as amended to December 31, 1994, excluding
21sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d),
2213174 and 13203 (d) of P.L.
103-66, and as indirectly affected in the provisions
23applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
24101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
25excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486 and
1P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of
2P.L.
103-66, P.L.
103-296, P.L.
103-337 and P.L.
103-465 "net income" means the
3federal regulated investment company taxable income, federal real estate mortgage
4investment conduit taxable income or federal real estate investment trust taxable
5income of the corporation, conduit or trust as determined under the internal revenue
6code as amended to December 31, 1994, excluding sections 103, 104 and 110 of P.L.
7102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L.
8103-66, and as indirectly affected in the provisions applicable to this subchapter by
9P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
10P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104 and 110 of P.L.
11102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, P.L.
103-296, P.L.
103-337 and
12P.L.
103-465 excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of
13P.L.
103-66, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is
14required to be depreciated for taxable years 1983 to 1986 under the internal revenue
15code as amended to December 31, 1980, shall continue to be depreciated under the
16internal revenue code as amended to December 31, 1980, and except that the
17appropriate amount shall be added or subtracted to reflect differences between the
18depreciation or adjusted basis for federal income tax purposes and the depreciation
19or adjusted basis under this chapter of any property disposed of during the taxable
20year. The internal revenue code as amended to December 31, 1994, excluding
21sections 103, 104 and 110 of P.L.
102-227 and sections 13113, 13150 (d), 13171 (d),
2213174, 13203 (d) and 13215 of P.L.
103-66, and as indirectly affected in the provisions
23applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
24101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
25excluding sections 103, 104 and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
1103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215
2of P.L.
103-66, P.L.
103-296, P.L.
103-337 and P.L.
103-465 applies for Wisconsin
3purposes at the same time as for federal purposes. Amendments to the internal
4revenue code enacted after December 31, 1994, do not apply to this subdivision with
5respect to taxable years that begin after December 31, 1994.
AB150-ASA,1143,177
71.26
(3) (y) A corporation may compute amortization and depreciation under
8either the federal internal revenue code as amended to December 31,
1993 1994, or
9the federal internal revenue code in effect for the taxable year for which the return
10is filed, except that property first placed in service by the taxpayer on or after
11January 1, 1983, but before January 1, 1987, that, under s. 71.04 (15) (b) and (br),
121985 stats., is required to be depreciated under the internal revenue code as
13amended to December 31, 1980, and property first placed in service in taxable year
141981 or thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985
15stats., is required to be depreciated under the internal revenue code as amended to
16December 31, 1980, shall continue to be depreciated under the internal revenue code
17as amended to December 31, 1980.
AB150-ASA,1143,1919
71.28
(1dd) Development zones day care credit. (a) In this subsection:
AB150-ASA,1143,2220
1. "Day care center benefits" means benefits provided at a day care facility that
21is licensed under s. 48.65 or 48.69 and that for compensation provides care for at least
226 children.
AB150-ASA,1144,223
2. "Employment-related day care expenses" means amounts paid or incurred
24by a claimant for providing or making day care center benefits available to a
1qualifying child in order to enable a member of a targeted group to be employed by
2the claimant.
AB150-ASA,1144,43
3. "Qualifying child" means a child of a member of a targeted group who is
4employed by a claimant.
AB150-ASA,1144,55
4. "Member of a targeted group" means a person under sub. (1dj) (am) 1.
AB150-ASA,1144,136
(b) Except as provided in s. 73.03 (35), for any taxable year for which that
7person is certified under s. 560.765 (3) and begins business operations in a zone
8under s. 560.71 after the effective date of this paragraph .... [revisor inserts date],
9entitled under s. 560.795 (3) (a) and begins business operations in a zone under s.
10560.795 after the effective date of this paragraph .... [revisor inserts date], or certified
11under s. 560.797 (4) (a), for each zone for which the person is certified or entitled a
12person may credit against taxes otherwise due under this subchapter
13employment-related day care expenses, up to $1,200 for each qualifying child.
AB150-ASA,1144,1514
(c) Subsection (1di) (b), (d), (f) and (g), as it applies to the credit under sub. (1di),
15applies to the credit under this subsection.
AB150-ASA,1144,1716
(d) Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to
17the credit under this subsection.
AB150-ASA,1144,2318
(e) The credit under this subsection, as it applies to a person certified under s.
19560.765 (3), applies to a corporation that conducts economic activity in a zone under
20s. 560.795 (1) and that is entitled to tax benefits under s. 560.795 (3), subject to the
21limits under s. 560.795 (2). A credit under this subsection may be credited using
22expenses incurred by a claimant on the effective date of this paragraph .... [revisor
23inserts date].
AB150-ASA,1145,13
171.28
(1de) Development zones environmental remediation credit. (a)
2Except as provided in s. 73.03 (35), for any taxable year for which a person is certified
3under s. 560.765 (3) and begins business operations in a zone under s. 560.71 after
4the effective date of this paragraph .... [revisor inserts date], entitled under s.
5560.795 (3) (a) and begins business operations in a zone under s. 560.795 after the
6effective date of this paragraph .... [revisor inserts date], or certified under s. 560.797
7(4) (a), for each zone for which the person is certified or entitled the person may claim
8as a credit against taxes otherwise due under this subchapter an amount equal to
97.5% of the amount that the person expends to remove or contain environmental
10pollution, as defined in s. 144.01 (3), in the zone or to restore soil or groundwater that
11is affected by environmental pollution, as defined in s. 144.01 (3), in the zone or to
12restore soil or groundwater that is affected by environmental pollution, as defined
13in s. 144.01 (3), in the zone if the person fulfills all of the following requirements:
AB150-ASA,1145,1714
1. Begins the work, other than planning and investigating, for which the credit
15is claimed after the area that includes the site where the work is done is designated
16a development zone under s. 560.71, a development opportunity zone under s.
17560.795 or an enterprise development zone under s. 560.797.
AB150-ASA,1145,2018
2. Completes the project for which the credit is claimed after the claimant is
19certified under s. 560.765 (3), entitled under s. 560.795 (3) (a) or certified under s.
20560.797 (4) (a).
AB150-ASA,1145,2221
(b) Subsection (1di) (b), (d), (f) and (g), as it applies to the credit under sub. (1di),
22applies to the credit under this subsection.
AB150-ASA,1145,2423
(c) Subsection (4) (e) to (h), as it applies to the credit under sub. (4), applies to
24the credit under this subsection.
AB150-ASA,1146,6
1(d) The credit under this subsection, as it applies to a person certified under s.
2560.765 (3), applies to a corporation that conducts economic activity in a zone under
3s. 560.795 (1) and that is entitled to tax benefits under s. 560.795 (3), subject to the
4limits under s. 560.795 (2). A credit under this subsection may be credited using
5expenses incurred by a claimant on the effective date of this paragraph .... [revisor
6inserts date].
AB150-ASA,1146,128
71.28
(1dj) (am) 4b. Modify "qualified wages", as defined in section
51 (b) of the
9internal revenue code, to include up to $2,500 in day care center benefits, as defined
10in sub. (1dd) (a) 1., if the claimant begins operations in a zone under s. 560.71 or
11560.795 after the effective date of this subdivision .... [revisor inserts date], or if the
12claimant conducts economic activity in a zone under s. 560.797.
AB150-ASA,1146,1914
71.28
(1dj) (d) If the allowable amount of the credit under par. (am) exceeds the
15taxes otherwise due under this chapter on or measured by the claimant's income, the
16amount of the credit not used as an offset against those taxes shall be certified to the
17department of administration for payment to the claimant by check, share draft or
18other draft
unless the claimant does not fulfill the requirements under sub. (1di) (b)
192. and bases the claim on activity in a zone under s. 560.797.
AB150-ASA,1146,2221
71.28
(1dj) (f) The rules under sub. (1di)
(b), (f) and (g) as they apply to the
22credit under that subsection apply to the credit under this subsection.
AB150-ASA,1147,424
71.28
(1ds) (c) If the allowable amount of the credit under par. (b) exceeds the
25taxes otherwise due under this chapter on or measured by the claimant's income, the
1amount of the credit not used as an offset against those taxes shall be certified to the
2department of administration for payment to the claimant by check, share draft or
3other draft
unless the claimant does not fulfill the requirements under sub. (1di) (b)
42. and bases the claim on activity in a zone under s. 560.797.
AB150-ASA,1147,76
71.28
(1ds) (e) The rules under sub. (1di)
(b), (f) and (g) as they apply to the
7credit under that subsection apply to the credit under this subsection.
AB150-ASA,1147,159
71.28
(6) (a) Any person may credit against taxes otherwise due under this
10chapter, up to the amount of those taxes, an amount equal to 5% of the costs of
11qualified rehabilitation expenditures, as defined in section
48 (g) (2) 47 (c) (2) of the
12internal revenue code, for certified historic structures on property located in this
13state if the physical work of construction or destruction in preparation for
14construction begins after December 31, 1988, and the rehabilitated property is
15placed in service after June 30, 1989.
AB150-ASA,1147,1717
71.30
(3) (eo) Development zones day care credit under s. 71.28 (1dd).
AB150-ASA,1147,1818
(ep) Development zones environmental remediation credit under s. 71.28 (1de).
