Amendment AP8 AA3-AB5

LRBa2782/1

JS:jlg:ijs

April 1998 Special Session

1997 - 1998 LEGISLATURE

ASSEMBLY AMENDMENT 3, TO ASSEMBLY BILL 5

May 14, 1998 - Offered by Representative Jensen.

AB5-AA3,1,1 At the locations indicated, amend the bill as follows:

AB5-AA3,1,2 1. Page 2, line 7: delete that line and substitute:

AB5-AA3,1,3 " Section 2g. 71.22 (11) of the statutes is amended to read:

AB5-AA3,1,9 71.22 (11) Except as provided in s. 71.45 (2), "Wisconsin net income", for corporations engaged in business wholly within this state, means net income and, for corporations engaged in business both within and outside this state, means the amount assigned to this state under s. 71.25 (6), (10) (c) or (13) or by a separate accounting or allocation, if allowed under s. 71.25 (6), or by another method approved under s. 71.25 (11) or, (12) or (14).

AB5-AA3, s. 2r Section 2r. 71.25 (14) of the statutes is created to read:".

AB5-AA3,1,11 2. Page 2, line 8: delete " (12)" and substitute "(14)".

AB5-AA3,1,13 3. Page 2, line 10: delete "the corporation" and substitute "any corporation other than a corporation under s. 71.25 (10) (a)".

AB5-AA3,2,1 4. Page 3, line 2: delete "applying for a" and substitute "any".

AB5-AA3,2,3 5. Page 4, line 1: delete "section 71.25 (12)" and substitute "sections 71.22 (11) and 71.25 (14)".

AB5-AA3,2,4 (End)