AB81-ASA1,2,98 3. "Percentage of disability" means the percentage determined under 38 USC
91114
(c) to (j).
AB81-ASA1,2,1110 (b) Subject to the limitations provided in this subsection, a claimant may claim
11as a credit against the tax imposed under s. 71.02 an amount calculated as follows:
AB81-ASA1,2,1312 1. For each disabled veteran whom the claimant hires after the effective date
13of this subdivision .... [revisor inserts date], determine the wages and salary paid.
AB81-ASA1,2,1514 2. Multiply the amount under subd. 1. by the disabled veteran's percentage of
15disability.
AB81-ASA1,2,1616 3. Add the amounts under subd. 2. for all disabled veterans.
AB81-ASA1,2,2117 (c) If the allowable amount of the claim under this subsection exceeds the
18income taxes otherwise due on the claimant's income, the amount of the claim that
19is not used to offset those taxes shall be certified by the department of revenue to the
20department of administration for payment by check, share draft or other draft drawn
21from the appropriation under s. 20.835 (2) (a).
AB81-ASA1,3,422 (d) Partnerships, limited liability companies and tax-option corporations may
23not claim the credit under this subsection, but the eligibility for, and the amount of,
24the credit is based on their payment of wages and salaries. A partnership, limited
25liability company or corporation shall compute the amount of credit that each of its

1partners, members or shareholders may claim and shall provide that information to
2each of them. Partners, members of limited liability companies and shareholders of
3tax-option corporations may claim the credit in proportion to their ownership
4interest.
AB81-ASA1,3,65 (e) Section 71.28 (4) (g) and (h) as it relates to the credit under s. 71.28 (4)
6relates to the credit under this subsection.
AB81-ASA1,3,87 (f) No new claim may be filed under this subsection for a taxable year that
8begins after December 31, 2002.
AB81-ASA1, s. 4 9Section 4. 71.08 (1) (intro.) of the statutes is amended to read:
AB81-ASA1,3,1810 71.08 (1) Imposition. (intro.) If the tax imposed on a natural person, married
11couple filing jointly, trust or estate under s. 71.02, not considering the credits under
12ss. 71.07 (1), (2dd), (2de), (2di), (2dj), (2dL), (2dr), (2ds), (2dx), (2fd), (3m), (3s), (5dv),
13(6) and (9e), 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1fd), (2m) and, (3) and
14(5dv)
and 71.47 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1fd), (2m) and, (3) and
15(5dv)
and subchs. VIII and IX and payments to other states under s. 71.07 (7), is less
16than the tax under this section, there is imposed on that natural person, married
17couple filing jointly, trust or estate, instead of the tax under s. 71.02, an alternative
18minimum tax computed as follows:
AB81-ASA1, s. 5 19Section 5. 71.10 (4) (i) of the statutes is amended to read:
AB81-ASA1,3,2520 71.10 (4) (i) The total of claim of right credit under s. 71.07 (1), farmland
21preservation credit under subch. IX, homestead credit under subch. VIII, farmland
22tax relief credit under s. 71.07 (3m), farmers' drought property tax credit under s.
2371.07 (2fd), earned income tax credit under s. 71.07 (9e), disabled veterans hiring
24credit under s. 71.07 (5dv),
estimated tax payments under s. 71.09, and taxes
25withheld under subch. X.
AB81-ASA1, s. 6
1Section 6. 71.21 (4) of the statutes is amended to read:
AB81-ASA1,4,42 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di),
3(2dj), (2dL), (2ds), (2dx) and, (3s) and (5dv) and passed through to partners shall be
4added to the partnership's income.
AB81-ASA1, s. 7 5Section 7. 71.26 (2) (a) of the statutes is amended to read:
AB81-ASA1,4,206 71.26 (2) (a) Corporations in general. The "net income" of a corporation means
7the gross income as computed under the internal revenue code as modified under
8sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit
9computed under s. 71.28 (1) and (3) to (5) plus the amount of the credit computed
10under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds) and , (1dx) and (5dv) and not
11passed through by a partnership, limited liability company or tax-option corporation
12that has added that amount to the partnership's, limited liability company's or
13tax-option corporation's income under s. 71.21 (4) or 71.34 (1) (g) plus the amount
14of losses from the sale or other disposition of assets the gain from which would be
15wholly exempt income, as defined in sub. (3) (L), if the assets were sold or otherwise
16disposed of at a gain and minus deductions, as computed under the internal revenue
17code as modified under sub. (3), plus or minus, as appropriate, an amount equal to
18the difference between the federal basis and Wisconsin basis of any asset sold,
19exchanged, abandoned or otherwise disposed of in a taxable transaction during the
20taxable year, except as provided in par. (b) and s. 71.45 (2) and (5).
AB81-ASA1, s. 8 21Section 8. 71.28 (5dv) of the statutes is created to read:
AB81-ASA1,4,2222 71.28 (5dv) Disabled veterans hiring credit. (a) In this subsection:
AB81-ASA1,4,2323 1. "Claimant" means a person who files a claim under this subsection.
AB81-ASA1,4,2524 2. "Disabled veteran" means a person who is eligible for compensation under
2538 USC 1110.
AB81-ASA1,5,2
13. "Percentage of disability" means the percentage determined under 38 USC
21114
(c) to (j).
AB81-ASA1,5,43 (b) Subject to the limitations provided in this subsection, a claimant may claim
4as a credit against the taxes imposed under s. 71.23 an amount calculated as follows:
AB81-ASA1,5,65 1. For each disabled veteran whom the claimant hires after the effective date
6of this subdivision .... [revisor inserts date], determine the wages and salary paid.
AB81-ASA1,5,87 2. Multiply the amount under subd. 1. by the disabled veteran's percentage of
8disability.
AB81-ASA1,5,99 3. Add the amounts under subd. 2. for all disabled veterans.
AB81-ASA1,5,1410 (c) If the allowable amount of the claim under this subsection exceeds the
11amount of taxes otherwise due under this subchapter, the allowable amount of the
12claim that is not used to offset taxes shall be certified by the department of revenue
13to the department of administration for payment by check, share draft or other draft
14drawn from the appropriation under s. 20.835 (2) (a).
AB81-ASA1,5,2215 (d) Partnerships, limited liability companies and tax-option corporations may
16not claim the credit under this subsection, but the eligibility for, and the amount of,
17the credit is based on their payment of wages and salaries. A partnership, limited
18liability company or corporation shall compute the amount of credit that each of its
19partners, members or shareholders may claim and shall provide that information to
20each of them. Partners, members of limited liability companies and shareholders of
21tax-option corporations may claim the credit in proportion to their ownership
22interest.
AB81-ASA1,5,2423 (e) Subsection (4) (g) and (h) as it relates to the credit under sub. (4) relates to
24the credit under this subsection.
AB81-ASA1,6,2
1(f) No new claim may be filed under this subsection for a taxable year that
2begins after December 31, 2002.
AB81-ASA1, s. 9 3Section 9. 71.30 (3) (f) of the statutes is amended to read:
AB81-ASA1,6,74 71.30 (3) (f) The total of farmers' drought property tax credit under s. 71.28
5(1fd), farmland preservation credit under subch. IX, farmland tax relief credit under
6s. 71.28 (2m), disabled veterans hiring credit under s. 71.28 (5dv) and estimated tax
7payments under s. 71.29.
AB81-ASA1, s. 10 8Section 10. 71.34 (1) (g) of the statutes is amended to read:
AB81-ASA1,6,119 71.34 (1) (g) An addition shall be made for credits computed by a tax-option
10corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx) and, (3) and
11(5dv)
and passed through to shareholders.
AB81-ASA1, s. 11 12Section 11. 71.45 (2) (a) 10. of the statutes is amended to read:
AB81-ASA1,6,1813 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
14computed under s. 71.47 (1dd) to (1dx) and (5dv) and not passed through by a
15partnership, limited liability company or tax-option corporation that has added that
16amount to the partnership's, limited liability company's or tax-option corporation's
17income under s. 71.21 (4) or 71.34 (1) (g) and the amount of credit computed under
18s. 71.47 (1), (3), (4) and (5).
AB81-ASA1, s. 12 19Section 12. 71.47 (5dv) of the statutes is created to read:
AB81-ASA1,6,2020 71.47 (5dv) Disabled veterans hiring credit. (a) In this subsection:
AB81-ASA1,6,2121 1. "Claimant" means a person who files a claim under this subsection.
AB81-ASA1,6,2322 2. "Disabled veteran" means a person who is eligible for compensation under
2338 USC 1110.
AB81-ASA1,6,2524 3. "Percentage of disability" means the percentage determined under 38 USC
251114
(c) to (j).
AB81-ASA1,7,2
1(b) Subject to the limitations provided in this subsection, a claimant may claim
2as a credit against the taxes imposed under s. 71.43 an amount calculated as follows:
AB81-ASA1,7,43 1. For each disabled veteran whom the claimant hires after the effective date
4of this subdivision .... [revisor inserts date], determine the wages and salary paid.
AB81-ASA1,7,65 2. Multiply the amount under subd. 1. by the disabled veteran's percentage of
6disability.
AB81-ASA1,7,77 3. Add the amounts under subd. 2. for all disabled veterans.
AB81-ASA1,7,128 (c) If the allowable amount of the claim under this subsection exceeds the
9amount of taxes otherwise due under this subchapter, the allowable amount of the
10claim that is not used to offset taxes shall be certified by the department of revenue
11to the department of administration for payment by check, share draft or other draft
12drawn from the appropriation under s. 20.835 (2) (a).
AB81-ASA1,7,2013 (d) Partnerships, limited liability companies and tax-option corporations may
14not claim the credit under this subsection, but the eligibility for, and the amount of,
15the credit is based on their payment of wages and salaries. A partnership, limited
16liability company or corporation shall compute the amount of credit that each of its
17partners, members or shareholders may claim and shall provide that information to
18each of them. Partners, members of limited liability companies and shareholders of
19tax-option corporations may claim the credit in proportion to their ownership
20interest.
AB81-ASA1,7,2221 (e) Section 71.28 (4) (g) and (h) as it relates to the credit under s. 71.28 (4)
22relates to the credit under this subsection.
AB81-ASA1,7,2423 (f) No new claim may be filed under this subsection for a taxable year that
24begins after December 31, 2002.
AB81-ASA1, s. 13 25Section 13. 71.49 (1) (f) of the statutes is amended to read:
AB81-ASA1,8,4
171.49 (1) (f) The total of farmers' drought property tax credit under s. 71.47
2(1fd), farmland preservation credit under subch. IX, farmland tax relief credit under
3s. 71.47 (2m), disabled veterans hiring credit under s. 71.47 (5dv) and estimated tax
4payments under s. 71.48.
AB81-ASA1, s. 14 5Section 14. 77.92 (4) of the statutes, as affected by 1999 Wisconsin Act 9, is
6amended to read:
AB81-ASA1,8,217 77.92 (4) "Net business income", with respect to a partnership, means taxable
8income as calculated under section 703 of the Internal Revenue Code; plus the items
9of income and gain under section 702 of the Internal Revenue Code including taxable
10state and municipal bond interest and excluding nontaxable interest income
11dividend income from federal government obligations; minus the items of loss and
12deduction under section 702 of the Internal Revenue Code except items that are not
13deductible under s. 71.21; plus guaranteed payments to partners under section 707
14(c) of the Internal Revenue Code; plus the credits claimed under s. 71.07 (2dd), (2de),
15(2di), (2dj), (2dL), (2dr), (2ds), (2dx) and, (3s) and (5dv); and plus or minus, as
16appropriate, transitional adjustments, depreciation differences and basis
17differences under s. 71.05 (13), (15), (16), (17) and (19); but excluding income, gain,
18loss and deductions from farming. "Net business income", with respect to a natural
19person, estate or trust, means profit from a trade or business for federal income tax
20purposes and includes net income derived as an employe as defined in section 3121
21(d) (3) of the Internal Revenue Code.
AB81-ASA1, s. 15 22Section 15. Initial applicability.
AB81-ASA1,9,223 (1) This act first applies to taxable years beginning on January 1 of the year
24in which this subsection takes effect, except that if this subsection takes effect after

1July 31 this act first applies to taxable years beginning on January 1 of the year after
2the year in which this subsection takes effect.
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