LRBa1105/3
JK:kmg:pg
2001 - 2002 LEGISLATURE
SENATE AMENDMENT 1,
TO 2001 SENATE BILL 316
February 4, 2002 - Offered by
Committee on Universities, Housing, and
Government Operations.
SB316-SA1,1,3
3"
Section 1m. 71.07 (9m) (cm) of the statutes is created to read:
SB316-SA1,1,54
71.07
(9m) (cm) Any credit claimed under this subsection for Wisconsin
5purposes shall be claimed at the same time as for federal purposes.".
SB316-SA1,1,9
8"
Section 2b. 71.07 (9m) (f) of the statutes is renumbered 71.07 (9m) (f) 1. and
9amended to read:
SB316-SA1,2,510
71.07
(9m) (f) 1. A partnership, limited liability company
, or tax-option
11corporation may not claim the credit under this subsection. The
individual partners
12of a partnership, members
in of a limited liability company
, or shareholders in a
13tax-option corporation may claim the credit under this subsection based on eligible
1costs incurred by the partnership, company
, or tax-option corporation, in proportion
2to the ownership interest of each partner, member
, or shareholder. The partnership,
3limited liability company
, or tax-option corporation shall calculate the amount of the
4credit which may be claimed by each partner, member
, or shareholder and shall
5provide that information to the partner, member
, or shareholder.
SB316-SA1, s. 2m
6Section 2m. 71.07 (9m) (f) 2. of the statutes is created to read:
SB316-SA1,2,147
71.07
(9m) (f) 2. Notwithstanding subd. 1., credits computed by a partnership
8or limited liability company may be allocated to partners or members as provided in
9a written agreement among the partners or members that is entered into no later
10than the last day of the taxable year of the partnership or limited liability company.
11Any partner or member who claims the credit as provided under this subdivision
12shall attach a copy of the agreement to the tax return on which the credit is claimed
13and shall be solely responsible for any tax liability arising from a dispute with the
14department of revenue related to claiming the credit.".
SB316-SA1,2,16
16"
Section 3m. 71.28 (6) (cm) of the statutes is created to read:
SB316-SA1,2,1817
71.28
(6) (cm) Any credit claimed under this subsection for Wisconsin purposes
18shall be claimed at the same time as for federal purposes.".
SB316-SA1,2,21
20"
Section 4b. 71.28 (6) (f) of the statutes is renumbered 71.28 (6) (f) 1. and
21amended to read:
SB316-SA1,3,622
71.28
(6) (f) 1. A partnership, limited liability company
, or tax-option
23corporation may not claim the credit under this subsection. The
individual partners
24of a partnership, members
in of a limited liability company
, or shareholders in a
1tax-option corporation may claim the credit under this subsection based on eligible
2costs incurred by the partnership, company
, or tax-option corporation, in proportion
3to the ownership interest of each
partner, member
, or shareholder. The partnership,
4limited liability company
, or tax-option corporation shall calculate the amount of the
5credit which may be claimed by each partner, member
, or shareholder and shall
6provide that information to the partner, member
, or shareholder.
SB316-SA1, s. 4m
7Section 4m. 71.28 (6) (f) 2. of the statutes is created to read:
SB316-SA1,3,168
71.28
(6) (f) 2. Notwithstanding subd. 1., credits computed by a partnership or
9limited liability company may be allocated to partners or members as provided in a
10written agreement among the partners or members that is entered into no later than
11the last day of the taxable year of the partnership or limited liability company. Any
12partner or member who claims the credit as provided under this subdivision shall
13attach a copy of the agreement to the tax return on which the credit is claimed. A
14person claiming the credit as provided under this paragraph is solely responsible for
15any tax liability arising from a dispute with the department of revenue related to
16claiming the credit.".
SB316-SA1,3,18
18"
Section 5m. 71.47 (6) (cm) of the statutes is created to read:
SB316-SA1,3,2019
71.47
(6) (cm) Any credit claimed under this subsection for Wisconsin purposes
20shall be claimed at the same time as for federal purposes.".
SB316-SA1,3,23
22"
Section 6b. 71.47 (6) (f) of the statutes is renumbered 71.47 (6) (f) 1. and
23amended to read:
SB316-SA1,4,9
171.47
(6) (f) 1. A partnership, limited liability company
, or tax-option
2corporation may not claim the credit under this subsection. The
individual partners
3of a partnership, members
in of a limited liability company
, or shareholders in a
4tax-option corporation may claim the credit under this subsection based on eligible
5costs incurred by the partnership, company
, or tax-option corporation, in proportion
6to the ownership interest of each partner, member
, or shareholder. The partnership,
7limited liability company
, or tax-option corporation shall calculate the amount of the
8credit which may be claimed by each partner, member
, or shareholder and shall
9provide that information to the partner, member
, or shareholder.
SB316-SA1, s. 6m
10Section 6m. 71.47 (6) (f) 2. of the statutes is created to read:
SB316-SA1,4,1811
71.47
(6) (f) 2. Notwithstanding subd. 1., credits computed by a partnership or
12limited liability company may be allocated to partners or members as provided in a
13written agreement among the partners or members that is entered into no later than
14the last day of the taxable year of the partnership or limited liability company. Any
15partner or member who claims the credit as provided under this subdivision shall
16attach a copy of the agreement to the tax return on which the credit is claimed and
17shall be solely responsible for any tax liability arising from a dispute with the
18department of revenue related to claiming the credit.".