AB768-ASA1-AA50, s. 284no
1Section 284no. 71.07 (3m) (e) of the statutes is created to read:
AB768-ASA1-AA50,5,32 71.07 (3m) (e) Prohibition on filing new claims. No new claim may be filed
3under this subsection for a taxable year that begins after December 31, 1997.
AB768-ASA1-AA50, s. 284nq 4Section 284nq. 71.07 (3s) of the statutes, as created by 1997 Wisconsin Act
527
, is repealed.
AB768-ASA1-AA50, s. 284ns 6Section 284ns. 71.07 (4) of the statutes is amended to read:
AB768-ASA1-AA50,5,97 71.07 (4) Homestead credit. The homestead credit under subch. VIII may be
8claimed by individuals against taxes otherwise due, except that no new claim may
9be filed under this subsection for a taxable year that begins after December 31, 1997
.
AB768-ASA1-AA50, s. 284nv 10Section 284nv. 71.07 (5) (intro.) of the statutes is amended to read:
AB768-ASA1-AA50,5,1411 71.07 (5) Itemized deductions credit. (intro.) Single For taxable years
12beginning before January 1, 1998, single
persons, married persons filing separately
13and married persons filing jointly may claim as a credit against, but not to exceed
14the amount of, Wisconsin net income taxes due an amount calculated as follows:
AB768-ASA1-AA50, s. 284nx 15Section 284nx. 71.07 (5m) of the statutes, as created by 1997 Wisconsin Act
1627
, is repealed.
AB768-ASA1-AA50, s. 284p 17Section 284p. 71.07 (6) (am) of the statutes, as created by 1997 Wisconsin Act
1827
, is repealed.
AB768-ASA1-AA50, s. 284pm 19Section 284pm. 71.07 (7) (c) of the statutes is created to read:
AB768-ASA1-AA50,5,2120 71.07 (7) (c) No new claim may be filed under this subsection for a taxable year
21that begins after December 31, 1997.
AB768-ASA1-AA50, s. 284ps 22Section 284ps. 71.07 (8) (d) of the statutes is created to read:
AB768-ASA1-AA50,5,2423 71.07 (8) (d) No new claim may be filed under this subsection for a taxable year
24that begins after December 31, 1997.
AB768-ASA1-AA50, s. 285m 25Section 285m. 71.07 (9) (g) of the statutes is created to read:
AB768-ASA1-AA50,6,2
171.07 (9) (g) No new claim may be filed under this subsection for a taxable year
2that begins after December 31, 1997.
AB768-ASA1-AA50, s. 285n 3Section 285n. 71.07 (9e) (g) of the statutes is created to read:
AB768-ASA1-AA50,6,54 71.07 (9e) (g) No new claim may be filed under this subsection for a taxable year
5that begins after December 31, 1997.
AB768-ASA1-AA50, s. 285p 6Section 285p. 71.07 (9m) (g) of the statutes is created to read:
AB768-ASA1-AA50,6,87 71.07 (9m) (g) No new claim may be filed under this subsection for a taxable
8year that begins after December 31, 1997.
AB768-ASA1-AA50, s. 285pm 9Section 285pm. 71.07 (9r) (L) of the statutes is created to read:
AB768-ASA1-AA50,6,1110 71.07 (9r) (L) No new claim may be filed under this subsection for a taxable
11year that begins after December 31, 1997.".
AB768-ASA1-AA50,6,13 138. Page 210, line 1: delete lines 1 and 2 and substitute:
AB768-ASA1-AA50,6,15 14" Section 286n. 71.10 (4) (de) of the statutes, as created by 1997 Wisconsin Act
1527
, is repealed.
AB768-ASA1-AA50, s. 286s 16Section 286s. 71.10 (4) (du) of the statutes, as created by 1997 Wisconsin Act
1727
, is repealed.".
AB768-ASA1-AA50,6,18 189. Page 210, line 14: after that line insert:
AB768-ASA1-AA50,6,20 19" Section 289s. 71.21 (4) of the statutes, as affected by 1997 Wisconsin Act 27,
20is amended to read:
AB768-ASA1-AA50,6,2321 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
22(2dj), (2dL), (2ds), and (2dx) and (3s) and passed through to partners shall be added
23to the partnership's income.".
AB768-ASA1-AA50,6,24 2410. Page 220, line 9: after that line insert:
AB768-ASA1-AA50,7,1
1" Section 297t. 71.55 (11) of the statutes is created to read:
AB768-ASA1-AA50,7,32 71.55 (11) Prohibition on filing new claims. No new claim may be filed under
3this subchapter for a taxable year that begins after December 31, 1997.
AB768-ASA1-AA50, s. 297v 4Section 297v. 71.61 (6) of the statutes is created to read:
AB768-ASA1-AA50,7,115 71.61 (6) Prohibition on filing new claims. No new claim may be filed under
6this subchapter for a taxable year that begins after December 31, 1997, except that
7an otherwise eligible claimant who is a party to a farmland preservation agreement
8that is described under s. 71.59 (1) (c) or who is a party to a certificate of a zoning
9authority that is described under s. 71.59 (1) (d), either of which is in effect on the
10effective date of this subsection .... [revisor inserts date], may continue to claim the
11credit under this subchapter until the expiration of the agreement or certificate.
AB768-ASA1-AA50, s. 297vw 12Section 297vw. 71.64 (9) (b) of the statutes, as affected by 1997 Wisconsin Act
1341
, is amended to read:
AB768-ASA1-AA50,8,614 71.64 (9) (b) The department shall from time to time adjust the withholding
15tables to reflect any changes in income tax rates, any applicable surtax or any
16changes in dollar amounts in s. 71.06 (1), (1m) and (2) resulting from statutory
17changes, except that the department may not adjust the withholding tables to reflect
18the changes in rates in s. 71.06 (1m) and (2) (c) and (d) and any changes in dollar
19amounts with respect to bracket indexing under s. 71.06 (2e) and with respect to
20standard deduction indexing under s. 71.05 (22) (ds)
for any taxable year that begins
21before January 1, 2000. The tables shall account for the working families tax credit
22under s. 71.07 (5m).
The tables shall be extended to cover from zero to 10 withholding
23exemptions, shall assume that the payment of wages in each pay period will, when
24multiplied by the number of pay periods in a year, reasonably reflect the annual wage
25of the employe from] the employer and shall be based on the further assumption that

1the annual wage will be reduced for allowable deductions from gross income. The
2department may determine the length of the tables and a reasonable span for each
3bracket. In preparing the tables the department shall adjust all withholding
4amounts not an exact multiple of 10 cents to the next highest figure that is a multiple
5of 10 cents. The department shall also provide instructions with the tables for
6withholding with respect to quarterly, semiannual and annual pay periods.".
AB768-ASA1-AA50,8,7 711. Page 242, line 11: after that line insert:
AB768-ASA1-AA50,8,9 8" Section 315n. 77.92 (4) of the statutes, as affected by 1997 Wisconsin Act 27,
9is amended to read:
AB768-ASA1-AA50,8,1910 77.92 (4) "Net business income", with respect to a partnership, means taxable
11income as calculated under section 703 of the internal revenue code; plus the items
12of income and gain under section 702 of the internal revenue code; minus the items
13of loss and deduction under section 702 of the internal revenue code; plus payments
14treated as not made to partners under section 707 (a) of the internal revenue code;
15plus the credits claimed under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dr), (2ds), and
16(2dx) and (3s); but excluding income, gain, loss and deductions from farming. "Net
17business income", with respect to a natural person, estate or trust, means profit from
18a trade or business for federal income tax purposes and includes net income derived
19as an employe as defined in section 3121 (d) (3) of the internal revenue code.".
AB768-ASA1-AA50,8,20 2012. Page 531, line 23: after that line insert:
AB768-ASA1-AA50,8,22 21"(2xz) Modification of the individual income tax system, department of
22revenue responsibilities
.
AB768-ASA1-AA50,9,3 23(a) The department of revenue shall determine the net economic effect of the
24treatment in this act of sections 71.05 (6) (a) (intro.) and (b) (intro.) and (22) (dm), (ds)

1and (i), 71.07 (1), (3), (3m) (e), (3s), (4), (5) (intro.), (5m), (6) (am), (7) (c), (8) (d), (9)
2(g), (9e) (g), (9m) (g) and (9r) (L), 71.10 (4) (de) and (du), 71.55 (11), 71.61 (6) and 71.64
3(9) (b) of the statutes on the state's revenues.
AB768-ASA1-AA50,9,124 (b) If the department determines that the state will have more revenue because
5of the treatment of the sections listed in paragraph (a) than it would if these
6treatments had not occurred, the department shall calculate the extra amount of
7revenue that the state will have because of the treatment of the statutes listed in
8paragraph (a). The department shall then adjust downward the rates of taxation
9listed in section 71.06 (1m) and (2) (c) and (d) of the statutes, on a proportional basis,
10for taxable years beginning on January 1, 1998, in such a way that the extra amount
11of revenue that the state will have because of the treatment of the statutes listed in
12paragraph (a) is fully expended.".
AB768-ASA1-AA50,9,13 1313. Page 555, line 17: delete lines 17 to 22.
AB768-ASA1-AA50,9,14 1414. Page 570, line 25: after that line insert:
AB768-ASA1-AA50,9,18 15"(1xz) Modification of the individual income tax system. The treatment of
16sections 71.05 (6) (a) 15. and (22) (ds), 71.07 (3s), (5m) and (6) (am), 71.10 (4) (de) and
17(du), 71.64 (9) (b) and 77.92 (4) of the statutes first applies to taxable years beginning
18on January 1, 1998.".
AB768-ASA1-AA50,9,19 1915. Page 571, line 6: delete lines 6 to 11.
Loading...
Loading...