SB55-ASA1,817,85
71.42
(2) (j) For taxable years that begin after December 31, 1995, and before
6January 1, 1997, "Internal Revenue Code" means the federal Internal Revenue Code
7as amended to December 31, 1995, excluding sections 103, 104
, and 110 of P.L.
8102-227 and sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
9103-66, and as amended by P.L.
104-188, excluding sections 1123, 1202, 1204, 1311
, 10and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
11105-206 and, P.L.
105-277, and P.L. 106-554, excluding sections 162 and 165 of P.L.
12106-554, and as indirectly affected by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
13101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
14excluding sections 103, 104
, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
15103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
16103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188,
17excluding sections 1123, 1202, 1204, 1311
, and 1605 of P.L.
104-188, P.L.
104-191,
18P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-206 and
, P.L.
105-277, and P.L.
19106-554, excluding sections 162 and 165 of P.L. 106-554, except that "Internal
20Revenue Code" does not include section 847 of the federal Internal Revenue Code.
21The Internal Revenue Code applies for Wisconsin purposes at the same time as for
22federal purposes. Amendments to the federal Internal Revenue Code enacted after
23December 31, 1995, do not apply to this paragraph with respect to taxable years
24beginning after December 31, 1995, and before January 1, 1997, except that
25changes to the Internal Revenue Code made by P.L.
104-188, excluding sections
11123, 1202, 1204, 1311
, and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
2105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277, and P.L. 106-554, excluding
3sections 162 and 165 of P.L. 106-554, and changes that indirectly affect the
4provisions applicable to this subchapter made by P.L.
104-188, excluding sections
51123, 1202, 1204, 1311
, and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
6105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277,
and P.L. 106-554, excluding
7sections 162 and 165 of P.L. 106-554, apply for Wisconsin purposes at the same time
8as for federal purposes.
SB55-ASA1,818,1010
71.42
(2) (k) For taxable years that begin after December 31, 1996, and before
11January 1, 1998, "Internal Revenue Code" means the federal Internal Revenue Code
12as amended to December 31, 1996, excluding sections 103, 104
, and 110 of P.L.
13102-227, sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66 14and sections 1123 (b), 1202 (c), 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, and as
15amended by P.L.
105-33, P.L.
105-34, P.L.
105-206, P.L.
105-277 and, P.L.
106-36,
16and P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, and as indirectly
17affected by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
18101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104
, and
19110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
2013113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
21103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
22(c) 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
23105-33, P.L.
105-34, P.L.
105-206, P.L.
105-277 and, P.L.
106-36, and P.L. 106-554,
24excluding sections 162 and 165 of P.L. 106-554, except that "Internal Revenue Code"
25does not include section 847 of the federal Internal Revenue Code. The Internal
1Revenue Code applies for Wisconsin purposes at the same time as for federal
2purposes. Amendments to the federal Internal Revenue Code enacted after
3December 31, 1996, do not apply to this paragraph with respect to taxable years
4beginning after December 31, 1996, and before January 1, 1998, except that
5changes to the Internal Revenue Code made by P.L.
105-33, P.L.
105-34, P.L.
6105-206, P.L.
105-277 and, P.L.
106-36, and P.L. 106-554, excluding sections 162
7and 165 of P.L. 106-554, and changes that indirectly affect the provisions applicable
8to this subchapter made by P.L.
105-33, P.L.
105-34, P.L.
105-206, P.L.
105-277 and, 9P.L.
106-36,
and P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, apply
10for Wisconsin purposes at the same time as for federal purposes.
SB55-ASA1,819,1312
71.42
(2) (L) For taxable years that begin after December 31, 1997, and before
13January 1, 1999, "Internal Revenue Code" means the federal Internal Revenue Code
14as amended to December 31, 1997, excluding sections 103, 104
, and 110 of P.L.
15102-227, sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66 16and sections 1123 (b), 1202 (c), 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, and as
17amended by P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and, P.L.
106-170,
18P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, and P.L. 106-573, and
19as indirectly affected by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
20101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
21103, 104
, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
22sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66, P.L.
23103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
241123 (b), 1202 (c) 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
25104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
1106-36 and, P.L.
106-170, P.L. 106-554, excluding sections 162 and 165 of P.L.
2106-554, and P.L. 106-573, except that "Internal Revenue Code" does not include
3section 847 of the federal Internal Revenue Code. The Internal Revenue Code
4applies for Wisconsin purposes at the same time as for federal purposes.
5Amendments to the federal Internal Revenue Code enacted after December 31, 1997,
6do not apply to this paragraph with respect to taxable years beginning after
7December 31, 1997, and before January 1, 1999, except that changes to the Internal
8Revenue Code made by P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and, 9P.L.
106-170, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, and P.L.
10106-573 and changes that indirectly affect the provisions applicable to this
11subchapter made by P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and, P.L.
12106-170, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, and P.L.
13106-573 apply for Wisconsin purposes at the same time as for federal purposes.
SB55-ASA1,820,1515
71.42
(2) (m) For taxable years that begin after December 31, 1998, and before
16January 1, 2000, "Internal Revenue Code" means the federal Internal Revenue Code
17as amended to December 31, 1998, excluding sections 103, 104
, and 110 of P.L.
18102-227, sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66 19and sections 1123 (b), 1202 (c), 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, and as
20amended by P.L.
106-36 and, P.L.
106-170, P.L. 106-230, P.L. 106-554, excluding
21sections 162 and 165 of P.L. 106-554, and P.L. 106-573, and as indirectly affected by
22P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
23P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104
, and 110 of P.L.
24102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
25(d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
1103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c) 1204 (f),
21311
, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
3105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and, P.L.
106-170,
4P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, and P.L.
5106-573, except that "Internal Revenue Code" does not include section 847 of the
6federal Internal Revenue Code. The Internal Revenue Code applies for Wisconsin
7purposes at the same time as for federal purposes. Amendments to the federal
8Internal Revenue Code enacted after December 31, 1998, do not apply to this
9paragraph with respect to taxable years beginning after December 31, 1998, and
10before January 1, 2000, except that changes to the Internal Revenue Code made by
11P.L.
106-36 and, P.L.
106-170, P.L. 106-230, P.L. 106-554, excluding sections 162
12and 165 of P.L. 106-554, and P.L. 106-573 and changes that indirectly affect the
13provisions applicable to this subchapter made by P.L.
106-36 and, P.L.
106-170, P.L.
14106-230, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, and P.L.
15106-573 apply for Wisconsin purposes at the same time as for federal purposes.
SB55-ASA1,821,1717
71.42
(2) (n) For taxable years that begin after December 31, 1999,
and before
18January 1, 2001, "Internal Revenue Code" means the federal Internal Revenue Code
19as amended to December 31, 1999, excluding sections 103, 104
, and 110 of P.L.
20102-227, sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66 21and sections 1123 (b), 1202 (c), 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, and as
22amended by P.L. 106-200, P.L. 106-230, P.L. 106-554, excluding sections 162 and
23165 of P.L. 106-554, and P.L. 106-573, and as indirectly affected by P.L.
99-514, P.L.
24100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
25101-508, P.L.
102-227, excluding sections 103, 104
, and 110 of P.L.
102-227, P.L.
1102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
213174
, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
3104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c) 1204 (f), 1311
, and 1605 (d)
4of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178,
5P.L.
105-206, P.L.
105-277, P.L.
106-36 and, P.L.
106-170, P.L. 106-200, P.L.
6106-230, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, and P.L.
7106-573, except that "Internal Revenue Code" does not include section 847 of the
8federal Internal Revenue Code. The Internal Revenue Code applies for Wisconsin
9purposes at the same time as for federal purposes. Amendments to the federal
10Internal Revenue Code enacted after December 31, 1999, do not apply to this
11paragraph with respect to taxable years beginning after December 31, 1999
, and
12before January 1, 2001, except that changes to the Internal Revenue Code made by
13P.L. 106-200, P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of P.L.
14106-554, and P.L. 106-573 and changes that indirectly affect the provisions
15applicable to this subchapter made by P.L. 106-200, P.L. 106-230, P.L. 106-554,
16excluding sections 162 and 165 of P.L. 106-554, and P.L. 106-573 apply for Wisconsin
17purposes at the same time as for federal purposes.
SB55-ASA1,822,1119
71.42
(2) (o) For taxable years that begin after December 31, 2000, "Internal
20Revenue Code" means the federal Internal Revenue Code as amended to
21December 31, 2000, excluding sections 103, 104, and 110 of P.L.
102-227, sections
2213113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66 and sections 1123
23(b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, and as indirectly affected
24by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
25P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
1102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
2(d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
3103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c) 1204 (f),
41311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
5105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
6106-200, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
7and P.L.
106-573, except that "Internal Revenue Code" does not include section 847
8of the federal Internal Revenue Code. The Internal Revenue Code applies for
9Wisconsin purposes at the same time as for federal purposes. Amendments to the
10federal Internal Revenue Code enacted after December 31, 2000, do not apply to this
11paragraph with respect to taxable years beginning after December 31, 2000.
SB55-ASA1,822,1413
71.42
(3d) "Member" does not include a member of a limited liability company
14treated as a corporation under s. 71.22 (1).
SB55-ASA1,822,1716
71.42
(3h) "Partner" does not include a partner of a publicly traded partnership
17treated as a corporation under s. 71.22 (1).
SB55-ASA1,823,619
71.45
(2) (a) 13. By adding or subtracting, as appropriate, the difference
20between the depreciation deduction under the federal Internal Revenue Code as
21amended to December 31,
1999 2000, and the depreciation deduction under the
22federal Internal Revenue Code in effect for the taxable year for which the return is
23filed, so as to reflect the fact that the insurer may choose between these 2 deductions,
24except that property first placed in service by the taxpayer on or after
25January 1, 1983, but before January 1, 1987, that, under s. 71.04 (15) (b) and (br),
11985 stats., is required to be depreciated under the Internal Revenue Code as
2amended to December 31, 1980, and property first placed in service in taxable year
31981 or thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985
4stats., is required to be depreciated under the Internal Revenue Code as amended
5to December 31, 1980, shall continue to be depreciated under the Internal Revenue
6Code as amended to December 31, 1980.
SB55-ASA1,823,168
71.45
(3) Apportionment. (intro.)
With respect Except as provided in sub. (3d), 9to
determine Wisconsin income for purposes of the franchise tax, domestic insurers
10not engaged in the sale of life insurance but which
that, in the taxable year, have
11collected received premiums
, other than life insurance premiums, written
on
12subjects of for insurance
on property or risks resident, located or to be performed
13outside this state
, there shall
be subtracted from multiply the net income figure
14derived by application of sub. (2)
(a) to arrive at Wisconsin income constituting the
15measure of the franchise tax an amount calculated by multiplying such adjusted
16federal taxable income by the arithmetic average of the following 2 percentages:
SB55-ASA1,824,818
71.45
(3) (a)
The Subject to sub. (3d), the percentage
of total determined by
19dividing the sum of direct premiums written
on all property and risks for insurance 20other than life insurance,
with respect to all property and risks resident, located, or
21to be performed in this state, and assumed premiums written for reinsurance, other
22than life insurance, with respect to all property and risks resident, located, or to be
23performed in this state, by the sum of direct premiums written for insurance on all
24property and risks, other than life insurance, wherever located
during the taxable
25year, as reflects, and assumed premiums written
on insurance for reinsurance on all
1property and risks, other than life insurance,
where the subject of insurance was
2resident, located or to be performed outside this state wherever located. In this
3paragraph, "direct premiums" means direct premiums as reported for the taxable
4year on an annual statement that is filed by the insurer with the commissioner of
5insurance under s. 601.42 (1g) (a). In this paragraph, "assumed premiums" means
6assumed reinsurance premiums from domestic insurance companies as reported for
7the taxable year on an annual statement that is filed with the commissioner of
8insurance under s. 601.42 (1g) (a).
SB55-ASA1, s. 1200
9Section
1200. 71.45 (3) (b) of the statutes is renumbered 71.45 (3) (b) 1. and
10amended to read:
SB55-ASA1,824,1511
71.45
(3) (b) 1.
The Subject to sub. (3d), the percentage
of determined by
12dividing the payroll, exclusive of life insurance payroll, paid in this state in the
13taxable year by total payroll, exclusive of life insurance payroll, paid everywhere in
14the taxable year
as reflects such compensation paid outside this state.
15Compensation.
SB55-ASA1,824,24
162. Under subd. 1., payroll is paid
outside in this state if the individual's service
17is performed entirely
outside in this state; or the individual's service is performed
18both
within and without in and outside this state, but the service performed
within 19outside this state is incidental to the individual's service
without in this state; or
20some service is performed
without in this state and the base of operations, or if there
21is no base of operations, the place from which the service is directed or controlled is
22without in this state, or the base of operations or the place from which the service is
23directed or controlled is not in any state in which some part of the service is
24performed, but the individual's residence is
outside
in this state.
SB55-ASA1,825,6
171.45
(3d) Phase in; domestic insurers. (a) For taxable years beginning after
2December 31, 2003, and before January 1, 2005, a domestic insurer that is subject
3to apportionment under sub. (3) and this subsection shall multiply the net income
4figure derived by the application of sub. (2) by an apportionment fraction composed
5of the percentage under sub. (3) (a) representing 60% of the fraction and the
6percentage under sub. (3) (b) 1. representing 40% of the fraction.
SB55-ASA1,825,127
(b) For taxable years beginning after December 31, 2004, and before January
81, 2006, a domestic insurer that is subject to apportionment under sub. (3) and this
9subsection shall multiply the net income figure derived by the application of sub. (2)
10by an apportionment fraction composed of the percentage under sub. (3) (a)
11representing 80% of the fraction and the percentage under sub. (3) (b) 1. representing
1220% of the fraction.
SB55-ASA1,825,1613
(c) For taxable years beginning after December 31, 2005, a domestic insurer
14that is subject to apportionment under sub. (3) and this subsection shall multiply the
15net income figure derived by the application of sub. (2) by the percentage under sub.
16(3) (a).
SB55-ASA1,825,2218
71.45
(3e) Apportionment formula computation. (a) 1. For taxable years
19beginning before January 1, 2006, if both the numerator and the denominator used
20to determine the percentage under sub. (3) (a) related to a taxpayer's net income are
21zero, the percentage under sub. (3) (a) is eliminated from the apportionment formula
22to determine the taxpayer's income under sub. (3).
SB55-ASA1,826,223
2. For taxable years beginning after December 31, 2005, if both the numerator
24and the denominator used to determine the percentage under sub. (3) (a) related to
1a taxpayer's net income are zero, none of the taxpayer's net income is apportioned
2to this state.
SB55-ASA1,826,73
(b) 1. For taxable years beginning before January 1, 2006, if the numerator
4used to determine the percentage under sub. (3) (a) related to a taxpayer's net income
5is a negative number and the denominator used to determine the percentage under
6sub. (3) (a) related to a taxpayer's net income is not zero, the percentage under sub.
7(3) (a) is zero.
SB55-ASA1,826,128
2. For taxable years beginning after December 31, 2005, if the numerator used
9to determine the percentage under sub. (3) (a) related to a taxpayer's net income is
10a negative number and the denominator used to determine the percentage under
11sub. (3) (a) related to a taxpayer's net income is not zero, none of the taxpayer's net
12income is apportioned to this state.
SB55-ASA1,826,1713
(c) 1. For taxable years beginning before January 1, 2006, if the numerator used
14to determine the percentage under sub. (3) (a) related to a taxpayer's net income is
15a positive number and the denominator used to determine the percentage under sub.
16(3) (a) related to a taxpayer's net income is zero or a negative number, the percentage
17under sub. (3) (a) is one.
SB55-ASA1,826,2218
2. For taxable years beginning after December 31, 2005, if the numerator used
19to determine the percentage under sub. (3) (a) related to a taxpayer's net income is
20a positive number and the denominator used to determine the percentage under sub.
21(3) (a) related to a taxpayer's net income is zero or a negative number, all of the
22taxpayer's net income is apportioned to this state.
SB55-ASA1,827,624
71.45
(3m) Arithmetic average. The Except as provided in sub. (3d), the 25arithmetic average of the 2 percentages referred to in sub. (3) shall be applied to the
1net income figure arrived at by the successive application of sub. (2) (a) and (b) with
2respect to Wisconsin insurers to which sub. (2) (a) and (b) applies and which have
3collected received premiums
, other than life insurance premiums, written
upon
for 4insurance
, other than life insurance, where the subject of such insurance was on
5property or risks resident, located or to be performed outside this state, to arrive at
6Wisconsin income constituting the measure of the franchise tax.
SB55-ASA1,827,128
71.45
(6) Partnerships and limited liability companies. (a) A general or
9limited partner's share of the numerator and denominator of a partnership's
10apportionment factors under this section are included in the numerator and
11denominator of the general or limited partner's apportionment factors under this
12section.
SB55-ASA1,827,1613
(b) If a limited liability company is treated as a partnership, for federal tax
14purposes, a member's share of the numerator and denominator of a limited liability
15company's apportionment factors under this section are included in the numerator
16and denominator of the member's apportionment factors under this section.
SB55-ASA1,827,1918
71.47
(1dm) Development zone capital investment credit. (a) In this
19subsection:
SB55-ASA1,827,2120
1. "Certified" means entitled under s. 560.795 (3) (a) 4. to claim tax benefits or
21certified under s. 560.795 (5).
SB55-ASA1,827,2222
2. "Claimant" means a person who files a claim under this subsection.
SB55-ASA1,827,2423
3. "Development zone" means a development opportunity zone under s. 560.795
24(1) (e).
SB55-ASA1,828,9
14. "Previously owned property" means real property that the claimant or a
2related person owned during the 2 years prior to the department of commerce
3designating the place where the property is located as a development zone and for
4which the claimant may not deduct a loss from the sale of the property to, or an
5exchange of the property with, the related person under section
267 of the Internal
6Revenue Code, except that section
267 (b) of the Internal Revenue Code is modified
7so that if the claimant owns any part of the property, rather than 50% ownership, the
8claimant is subject to section
267 (a) (1) of the Internal Revenue Code for purposes
9of this subsection.
SB55-ASA1,828,1310
(b) Subject to the limitations provided in this subsection and in s. 73.03 (35),
11for any taxable year for which the claimant is certified, a claimant may claim as a
12credit against the taxes imposed under s. 71.43 an amount that is equal to 3% of the
13following:
SB55-ASA1,828,1414
1. The purchase price of depreciable, tangible personal property.
SB55-ASA1,828,1615
2. The amount expended to acquire, construct, rehabilitate, remodel, or repair
16real property in a development zone.
SB55-ASA1,828,2117
(c) A claimant may claim the credit under par. (b) 1., if the tangible personal
18property is purchased after the claimant is certified and the personal property is
19used for at least 50% of its use in the claimant's business at a location in a
20development zone or, if the property is mobile, the property's base of operations for
21at least 50% of its use is at a location in a development zone.
SB55-ASA1,829,522
(d) A claimant may claim the credit under par. (b) 2. for an amount expended
23to construct, rehabilitate, remodel, or repair real property, if the claimant began the
24physical work of construction, rehabilitation, remodeling, or repair, or any
25demolition or destruction in preparation for the physical work, after the place where
1the property is located was designated a development zone, or if the completed
2project is placed in service after the claimant is certified. In this paragraph, "physical
3work" does not include preliminary activities such as planning, designing, securing
4financing, researching, developing specifications, or stabilizing the property to
5prevent deterioration.
SB55-ASA1,829,106
(e) A claimant may claim the credit under par. (b) 2. for an amount expended
7to acquire real property, if the property is not previously owned property and if the
8claimant acquires the property after the place where the property is located was
9designated a development zone, or if the completed project is placed in service after
10the claimant is certified.
SB55-ASA1,829,1211
(f) No credit may be allowed under this subsection unless the claimant includes
12with the claimant's return:
SB55-ASA1,829,1413
1. A copy of a verification from the department of commerce that the claimant
14may claim tax benefits under s. 560.795 (3) (a) 4. or is certified under s. 560.795 (5).
SB55-ASA1,829,1715
2. A statement from the department of commerce verifying the purchase price
16of the investment and verifying that the investment fulfills the requirements under
17par. (b).
SB55-ASA1,829,2218
(g) In calculating the credit under par. (b) a claimant shall reduce the amount
19expended to acquire property by a percentage equal to the percentage of the area of
20the real property not used for the purposes for which the claimant is certified and
21shall reduce the amount expended for other purposes by the amount expended on the
22part of the property not used for the purposes for which the claimant is certified.
SB55-ASA1,829,2423
(h) The carry-over provisions of s. 71.28 (4) (e) and (f) as they relate to the credit
24under s. 71.28 (4) relate to the credit under this subsection.
SB55-ASA1,830,13
1(i) Partnerships, limited liability companies, and tax-option corporations may
2not claim the credit under this subsection, but the eligibility for, and the amount of,
3that credit shall be determined on the basis of their economic activity, not that of their
4shareholders, partners, or members. The corporation, partnership, or limited
5liability company shall compute the amount of credit that may be claimed by each
6of its shareholders, partners, or members and provide that information to its
7shareholders, partners, or members. Partners, members of limited liability
8companies, and shareholders of tax-option corporations may claim the credit based
9on the partnership's, company's, or corporation's activities in proportion to their
10ownership interest and may offset it against the tax attributable to their income from
11the partnership's, company's, or corporation's business operations in the
12development zone and against the tax attributable to their income from the
13partnership's, company's, or corporation's directly related business operations.
SB55-ASA1,830,2214
(j) If a person who is entitled under s. 560.795 (3) (a) 4. to claim tax benefits
15becomes ineligible for such tax benefits, or if a person's certification under s. 560.795
16(5) is revoked, that person may claim no credits under this subsection for the taxable
17year that includes the day on which the person becomes ineligible for tax benefits,
18the taxable year that includes the day on which the certification is revoked, or
19succeeding taxable years, and that person may carry over no unused credits from
20previous years to offset tax under this chapter for the taxable year that includes the
21day on which the person becomes ineligible for tax benefits, the taxable year that
22includes the day on which the certification is revoked, or succeeding taxable years.
SB55-ASA1,831,323
(k) If a person who is entitled under s. 560.795 (3) (a) 4. to claim tax benefits
24or certified under s. 560.795 (5) ceases business operations in the development zone
25during any of the taxable years that that zone exists, that person may not carry over
1to any taxable year following the year during which operations cease any unused
2credits from the taxable year during which operations cease or from previous taxable
3years.
SB55-ASA1,831,54
(L) Section 71.28 (4) (g) and (h) as it applies to the credit under s. 71.28 (4)
5applies to the credit under this subsection.
SB55-ASA1,831,197
71.47
(1dx) (a) 5. "Member of a targeted group" means
a person under sub. (2dj)
8(am) 1., a person who resides in an empowerment zone, or an enterprise community,
9that the U.S. government designates, a person who is employed in an unsubsidized
10job but meets the eligibility requirements under s. 49.145 (2) and (3) for a Wisconsin
11works employment position, a person who is employed in a trial job, as defined in s.
1249.141 (1) (n),
or a person who is eligible for child care assistance under s. 49.155
, a
13person who is a vocational rehabilitation referral, an economically disadvantaged
14youth, an economically disadvantaged veteran, a supplemental security income
15recipient, a general assistance recipient, an economically disadvantaged ex-convict,
16a qualified summer youth employee, as defined in 26 USC 51 (d) (7), a dislocated
17worker, as defined in 29 USC 2801 (9), or a food stamp recipient; if the person has
18been certified in the manner under sub. (1dj) (am) 3. by a designated local agency,
19as defined in sub. (1dj) (am) 2.
SB55-ASA1,831,2421
71.47
(3g) Technology zones credit. (a) Subject to the limitations under this
22subsection and ss. 73.03 (35m), and 560.96, a business that is certified under s.
23560.96 (3) may claim as a credit against the taxes imposed under s. 71.43 an amount
24equal to the sum of the following, as established under s. 560.96 (3) (c):
SB55-ASA1,832,2
11. The amount of real and personal property taxes imposed under s. 70.01 that
2the business paid in the taxable year.
SB55-ASA1,832,43
2. The amount of income and franchise taxes imposed under s. 71.43 that the
4business paid in the taxable year.
SB55-ASA1,832,65
3. The amount of sales and use taxes imposed under ss. 77.52, 77.53, and 77.71
6that the business paid in the taxable year.
SB55-ASA1,832,87
(b) The department of revenue shall notify the department of commerce of all
8claims under this subsection.
SB55-ASA1,832,109
(c) Section 71.28 (4) (e), (f), (g), and (h), as it applies to the credit under s. 71.28
10(4), applies to the credit under par. (a).
SB55-ASA1,832,1811
(d) Partnerships, limited liability companies, and tax-option corporations may
12not claim the credit under this subsection, but the eligibility for, and the amount of,
13the credit are based on their payment of amounts under par. (a). A partnership,
14limited liability company, or tax-option corporation shall compute the amount of
15credit that each of its partners, members, or shareholders may claim and shall
16provide that information to each of them. Partners, members of limited liability
17companies, and shareholders of tax-option corporations may claim the credit in
18proportion to their ownership interest.
SB55-ASA1,832,2120
71.49
(1) (emb)
Development zone capital investment credit under s. 71.47
21(1dm).
SB55-ASA1,832,2323
71.49
(1) (eon) Technology zones credit under s. 71.47 (3g).
SB55-ASA1,833,3
171.93
(1) (a) 4. An amount that the department of workforce development may
2recover under s.
49.125 or 49.195 (3)
or 49.793, if the department of workforce
3development has certified the amount under s. 49.85.
SB55-ASA1,833,65
71.93
(1) (a) 6. An amount owed to the department of military affairs under s.
621.49 (3m) (b).
SB55-ASA1,833,118
72.01
(11m) "Federal credit" means, for deaths occurring before October 1,
92002, the federal estate tax credit in effect on December 31, 2000, and for deaths
10occurring after September 30, 2002, the federal estate tax credit in effect on the day
11of the decedent's death.
SB55-ASA1,833,1613
72.01
(11n) "Federal estate tax" means, for deaths occurring before October 1,
142002, the federal estate tax in effect on December 31, 2000, and for deaths occurring
15after September 30, 2002, the federal estate tax in effect on the day of the decedent's
16death.
SB55-ASA1,834,2
1872.02 Estate tax imposed. An estate tax is imposed upon the transfer of all
19property that is subject to a federal estate tax and that has a taxable situs in this
20state. The tax imposed is equal to the
federal credit allowed for state death taxes
21against the federal estate tax as finally determined. If only a portion of a decedent's
22property has a taxable situs in this state, the tax imposed is the amount obtained by
23multiplying the federal credit allowed for state death taxes by a fraction the
24numerator of which is the value of the decedent's estate that has a taxable situs in
1this state and the denominator of which is the total value of the property in the estate
2that qualifies for the federal credit allowed for state death taxes.
SB55-ASA1, s. 2200k
3Section 2200k. 72.30 (1) of the statutes is renumbered 72.30 (1) (a) and
4amended to read:
SB55-ASA1,834,115
72.30
(1) (a)
If Except as provided in par. (b), if a federal estate tax return is
6required, the personal representative, special administrator, trustee, distributee or
7other person interested shall prepare the return for the tax under this chapter,
8compute the tax due under this chapter and on or before the due date, as extended,
9of the federal estate tax return file the return for the tax under this chapter, a copy
10of the federal estate tax return and a copy of all documents submitted with the
11federal estate tax return.
SB55-ASA1,834,1613
72.30
(1) (b) For deaths occurring after December 31, 2001, and before October
141, 2002, the personal representative, special administrator, trustee, distributee, or
15other person interested shall prepare the return for the tax under this chapter in the
16manner prescribed by the department.
