Amendment SA44-AB768

AB768-SA44,4,22 71.05 (22) (do) Deduction limits; 1998 and thereafter. Except as provided in par. (f), for taxable years beginning on or after January 1, 1998, the Wisconsin standard deduction is whichever of the following amounts is appropriate. For a single individual who has a Wisconsin adjusted gross income of less than $8,030, the standard deduction is $5,560. For a single individual who has a Wisconsin adjusted gross income of at least $8,030 but not more than $54,390, the standard deduction is the amount obtained by subtracting from $54,390 11.993% of Wisconsin adjusted gross income in excess of $8,030 but not less than $0. For a single individual who has a Wisconsin adjusted gross income of more than $54,390, the standard deduction is $0. For a head of household who has a Wisconsin adjusted gross income of less than $8,030, the standard deduction is $7,530. For a head of household who has a Wisconsin adjusted gross income of at least $8,030 but not more than $26,750, the standard deduction is the amount obtained by subtracting from $7,530 22.517% of Wisconsin adjusted gross income in excess of $8,030 but not less than $0. For a head of household who has a Wisconsin adjusted gross income of more than $26,750, the standard deduction shall be calculated as if the head of household were a single individual. For a married couple filing jointly that has an aggregate Wisconsin adjusted gross income of less than $10,700, the standard deduction is $9,520. For a married couple filing jointly that has an aggregate Wisconsin adjusted gross income of at least $10,700 but not more than $58,850, the standard deduction is the amount obtained by subtracting from $9,520 19.772% of aggregate Wisconsin adjusted gross income in excess of $10,700 but not less than $0. For a married couple filing jointly that has an aggregate Wisconsin adjusted gross income of more than $58,850, the standard deduction is $0. For a married individual filing separately who has a Wisconsin adjusted gross income of less than $5,080, the standard deduction is $4,530. For a married individual filing separately who has a Wisconsin adjusted gross income of at least $5,080 but not more than $27,970, the standard deduction is the amount obtained by subtracting from $4,530 19.79% of Wisconsin adjusted gross income in excess of $5,080 but not less than $0. For a married individual filing separately who has a Wisconsin adjusted gross income of more than $27,970, the standard deduction is $0. The secretary of revenue shall prepare a table under which deductions under this paragraph shall be determined. That table shall be published in the department's instructional booklets.".

AB768-SA44,4,23 11. Page 207, line 17: delete that line and substitute:

AB768-SA44,4,24 "71.06 (1m) (a) On all taxable income from $0 to $7,500, 4.85% $8,030, 4.77%.".

AB768-SA44,5,1 12. Page 207, line 20: delete lines 20 and 21 and substitute:

AB768-SA44,5,3 "71.06 (1m) (b) On all taxable income exceeding $7,500 $8,030 but not exceeding $15,000, 6.48% $16,050, 6.37%.".

AB768-SA44,5,4 13. Page 207, line 24: delete that line and substitute:

AB768-SA44,5,6 "71.06 (1m) (c) On all taxable income exceeding $15,000, 6.87% $16,050 but not exceeding $64,200, 6.77%.

AB768-SA44, s. 284ep Section 284ep. 71.06 (1m) (d) of the statutes is created to read:

AB768-SA44,5,8 71.06 (1m) (d) On all taxable income exceeding $64,200, 6.87%.".

AB768-SA44,5,9 14. Page 208, line 3: delete that line and substitute:

AB768-SA44,5,11 "71.06 (2) (c) 1. On all taxable income from $0 to $10,000, 4.85% $10,700,4.77%.".

AB768-SA44,5,12 15. Page 208, line 6: delete lines 6 and 7 and substitute:

AB768-SA44,5,14 "71.06 (2) (c) 2. On all taxable income exceeding $10,000 $10,700 but not exceeding $20,000, 6.48% $21,400, 6.37%.".

AB768-SA44,5,15 16. Page 208, line 10: delete that line and substitute:

AB768-SA44,5,17 "71.06 (2) (c) 3. On all taxable income exceeding $20,000, 6.87% $21,400 but not exceeding $85,600, 6.77%.

AB768-SA44, s. 284gp Section 284gp. 71.06 (2) (c) 4. of the statutes is created to read:

AB768-SA44,5,19 71.06 (2) (c) 4. On all taxable income exceeding $85,600, 6.87%.".

AB768-SA44,5,20 17. Page 208, line 13: delete that line and substitute:

AB768-SA44,5,21 "71.06 (2) (d) 1. On all taxable income from $0 to $5,000, 4.85% $5,350, 4.77%.".

AB768-SA44,5,22 18. Page 208, line 16: delete lines 16 and 17 and substitute:

AB768-SA44,6,2 "71.06 (2) (d) 2. On all taxable income exceeding $5,000 $5,350 but not exceeding $10,000, 6.48% $10,700, 6.37%.".

AB768-SA44,6,3 19. Page 208, line 20: delete that line and substitute:

AB768-SA44,6,5 "71.06 (2) (d) 3. On all taxable income exceeding $10,000, 6.87% $10,700 but not exceeding $42,800, 6.77%.

AB768-SA44, s. 284ip Section 284ip. 71.06 (2) (d) 4. of the statutes is created to read:

AB768-SA44,6,7 71.06 (2) (d) 4. On all taxable income exceeding $42,800,6.87%.".

AB768-SA44,6,9 20. Page 235, line 13: delete the material beginning with that line and ending with page 236, line 2.

AB768-SA44,6,11 21. Page 244, line 9: delete the material beginning with that line and ending with page 246, line 21.

AB768-SA44,6,12 22. Page 294, line 3: delete lines 3 to 7.

AB768-SA44,6,14 23. Page 295, line 19: delete the material beginning with that line and ending with page 296, line 2.

AB768-SA44,6,15 24. Page 555, line 23: delete lines 23 to 25.

AB768-SA44,6,16 25. Page 556, line 1: delete lines 1 to 3.

AB768-SA44,6,17 26. Page 572, line 5: delete lines 5 to 7.

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AB768-SA44,6,20 (End)