Amendment AA29-ASA1-AB150

LRBb1290/1

JS:skg:ks

1995 - 1996 LEGISLATURE

ASSEMBLY AMENDMENT 29, To ASSEMBLY SUBSTITUTE AMENDMENT 1, To 1995 ASSEMBLY BILL 150

June 21, 1995 - Offered by Representatives Dueholm, Linton, Baldus, Notestein, Kreuser, Hasenohrl, Meyer, Robson, Baldwin, R. Young, Black, Wilder, Vander Loop, Turner, Reynolds, Baumgart, Plombon, Hanson, Bock, Ziegelbauer, Springer and Morris-Tatum.

AB150-ASA1-AA29,1,1 At the locations indicated, amend the substitute amendment as follows:

AB150-ASA1-AA29,1,2 1. Page 1195, line 16: delete "$4,000" and substitute "$100,000".

AB150-ASA1-AA29,1,3 2. Page 1195, line 21: after that line insert:

AB150-ASA1-AA29,1,4 " Section 3495b. 77.93 (2) of the statutes is amended to read:

AB150-ASA1-AA29,1,15 77.93 (2) All natural persons, estates and trusts that are required to file a return under subch. I or II of ch. 71 for the taxable year and, that either are an employe as defined in section 3121 (d) (3) of the internal revenue code or file a form indicating a profit or loss from a trade or business for federal income tax purposes for the taxable year, and that have at least $100,000 in total receipts from all activities. The surcharge is imposed on each such natural person regardless of ch. 766 and regardless of whether or not the person files jointly under ch. 71. The surcharge is not imposed on net business income of individuals for which the surcharge is imposed on a tax-option corporation of which an individual is a shareholder, a partnership of which an individual is a partner or a limited liability company of which an individual is a member.

AB150-ASA1-AA29, s. 3495c Section 3495c. 77.93 (3) of the statutes is amended to read:

AB150-ASA1-AA29,2,7 77.93 (3) All partnerships, except partnerships that have net business income only from farming, that derive income from business transacted in this state, from property in this state or from services performed in this state for the taxable year, and that have at least $100,000 in total receipts from all activities. The surcharge is imposed on the partnership, not on its partners, except that if a partnership's surcharge is delinquent the partners are jointly and severally liable for it.

AB150-ASA1-AA29, s. 3495d Section 3495d. 77.93 (3m) of the statutes is amended to read:

AB150-ASA1-AA29,2,14 77.93 (3m) All limited liability companies, except companies that have net business income only from farming, that are required to file a return under s. 71.20 (1) for the taxable year, and that have at least $100,000 in total receipts from all activities. The surcharge is imposed on the limited liability company, not on its members, except that if a company's surcharge is delinquent the members are jointly and severally liable for it.".

AB150-ASA1-AA29,2,15 3. Page 1195, line 24: delete "$4,000" and substitute "$100,000".

AB150-ASA1-AA29,2,16 4. Page 1195, line 25: after that line insert:

AB150-ASA1-AA29,2,17 " Section 3496c. 77.93 (5) of the statutes is repealed.

AB150-ASA1-AA29, s. 3496f Section 3496f. 77.94 (1) (c) of the statutes is repealed.

AB150-ASA1-AA29, s. 3496g Section 3496g. 77.94 (3m) of the statutes is created to read:

AB150-ASA1-AA29,2,22 77.94 (3m) All natural persons, estates, trusts, partnerships and limited liability companies that are engaged in farming are exempt from the surcharge under this subchapter.".

AB150-ASA1-AA29,2,23 5. Page 2433, line 22: delete lines 22 and 23.

AB150-ASA1-AA29,2,24 6. Page 2450, line 19: delete that line and substitute:

AB150-ASA1-AA29,3,2 "(1ag) Recycling surcharge. The treatment of sections 77.93 (1), (2), (3), (3m), (4) and (5) and 77.94 (1) (c) and (3m) of".

AB150-ASA1-AA29,3,3 (End)