SB55-ASA1-AA1,580,189
71.01
(6) (pm) For taxable years beginning after December 31, 2000, and before
10January 1, 2002, for natural persons, fiduciaries, except fiduciaries of nuclear
11decommissioning trust or reserve funds, "Internal Revenue Code" means the federal
12Internal Revenue Code as amended by sections 411, 412 (a), 611 (a), 635, 636 (b), 641
13to 646, 655, 658, and 701 of P.L.
107-16 and as indirectly affected by sections 411,
14412 (a), 611 (a), 635, 636 (b), 641 to 646, 655, 658, and 701 of P.L.
107-16. The Internal
15Revenue Code applies for Wisconsin purposes at the same time as for federal
16purposes. Amendments to the federal Internal Revenue Code enacted after June 30,
172001, do not apply to this paragraph with respect to taxable years beginning after
18December 31, 2000, and before January 1, 2002.".
SB55-ASA1-AA1,580,2321
71.05
(1) (am)
Military retirement systems. All retirement payments, other
22than surviving spouse benefits, received from the U.S. military employee retirement
23system, to the extent that such payments are not exempt under par. (a).
SB55-ASA1-AA1,581,5
171.05
(1) (an)
Uniformed services retirement benefits. All retirement payments
2received by an individual from the U.S. government that relate to the individual's
3service with the coast guard, the commissioned corps of the national oceanic and
4atmospheric administration, or the commissioned corps of the public health service,
5to the extent that such payments are not exempt under par. (a) or (am).".
SB55-ASA1-AA1,581,9
8970. Page 728, line 20: delete that line and substitute "(2di), (2dj), (2dL),
9(2dm) (2dr), (2ds), (2dx)
and, (3g), (3s)
, and (5s) and not passed through".
SB55-ASA1-AA1,582,1212
71.05
(11) (a) The federal adjusted basis at the end of the calendar year 1968
13or corresponding fiscal year of waste treatment plant or pollution abatement
14equipment acquired pursuant to order or recommendation of the committee on water
15pollution, state board of health, city council, village board or county board pursuant
16to s. 59.07 (53) or (85), 1971 stats., may be treated as a subtraction modification on
17the return of the calendar year 1969 or corresponding fiscal year but not in later
18years. In case of such subtraction an add modification shall be made in 1969 and
19later taxable years to reverse federal depreciation or amortization of such basis or
20to correct gain or loss on disposition. The cost of such plant or equipment acquired
21in 1969 or thereafter pursuant to order, recommendation or approval of the
22committee on water pollution, department of resource development, department of
23natural resources fish, wildlife, parks, and forestry, department of environmental
24management, state board of health, city council, village board, or county board
1pursuant to s. 59.07 (53) or (85), 1971 stats., (less any federal depreciation or
2amortization taken) may be deducted as a subtraction modification or as subtraction
3modifications in the year or years in which paid or accrued, dependent on the method
4of accounting employed. In case of such election, appropriate add modifications shall
5be made in subsequent years to reverse federal depreciation or amortization or to
6correct gain or loss on disposition. This paragraph is intended to apply only to
7depreciable property except that where wastes are disposed of through a lagoon
8process, lagooning costs and the cost of land containing such lagoons may be treated
9as depreciable property for purposes of this paragraph. In no event may any amount
10in excess of cost be deducted. The taxpayer shall file with the department copies of
11all recommendations, orders or approvals relating to installation of such property
12and such other documents or data relating thereto as the department requests.".
SB55-ASA1-AA1,582,1916
71.05
(6) (b) 32. (intro.) An amount paid into a college savings account, as
17described in s. 14.64, if the beneficiary of the account either is the claimant
or; is the
18claimant's child and the claimant's dependent who is claimed under section
151 (c)
19of the Internal Revenue Code
,; or is the claimant's grandchild; calculated as follows:
SB55-ASA1-AA1,583,1322
71.05
(6) (b) 32. a. An amount equal to not more than $3,000 per beneficiary
23by a claimant for contributions to an account for each year to which the claim relates
,
24except that the total amount for which a deduction may be claimed under this
1subdivision and under subd. 33., per beneficiary by any claimant may not exceed
2$3,000 each year. The deduction limit under this subdivision for a married couple
3that files a joint income tax return is $3,000 per beneficiary for each year. The total
4deduction that may be claimed by a married couple under this subdivision and under
5subd. 33., per beneficiary, is $3,000 each year if the couple files a joint income tax
6return. The deduction limit under this subdivision for a grandparent is $1,500 per
7beneficiary for each year, or $3,000 if the grandparent is widowed or a widower. The
8total deduction that may be claimed by a grandmother and a grandfather who are
9married to each other, or by a grandparent who is widowed or a widower, under this
10subdivision and under subd. 33., per beneficiary, is $3,000 each year. The total
11deduction that may be claimed by a grandmother and a grandfather, who are not
12married to each other, under this subdivision and under subd. 33., per beneficiary,
13is $3,000 each year.
SB55-ASA1-AA1,583,2016
71.05
(6) (b) 33. (intro.) An amount paid into a college tuition and expenses
17program, as described in s. 14.63, if the beneficiary of the account either is the
18claimant
or; is the claimant's child and the claimant's dependent who is claimed
19under section
151 (c) of the Internal Revenue Code
,; or is the claimant's grandchild; 20calculated as follows:
SB55-ASA1-AA1,584,1223
71.05
(6) (b) 33. a. An amount equal to not more than $3,000 per beneficiary
24by a claimant for contributions to an account for each year to which the claim relates
,
25except that the total amount for which a deduction may be claimed under this
1subdivision and under subd. 32., per beneficiary by any claimant may not exceed
2$3,000 each year. The deduction limit under this subdivision for a married couple
3that files a joint income tax return is $3,000 per beneficiary for each year. The total
4deduction that may be claimed by a married couple under this subdivision and under
5subd. 32., per beneficiary, is $3,000 each year if the couple files a joint income tax
6return. The deduction limit under this subdivision for a grandparent is $1,500 per
7beneficiary for each year, or $3,000 if the grandparent is widowed or a widower. The
8total deduction that may be claimed by a grandmother and a grandfather, or by a
9grandparent who is widowed or a widower, under this subdivision and under subd.
1032., per beneficiary, is $3,000 each year. The total deduction that may be claimed by
11a grandmother and a grandfather, who are not married to each other, under this
12subdivision and under subd. 32., per beneficiary, is $3,000 each year.".
SB55-ASA1-AA1,584,1815
71.05
(6) (b) 21. The
difference between the amount of social security benefits
16included in federal adjusted gross income for the current year
and the amount as 17calculated under section
86 of the
internal revenue code as that section existed on
18December 31, 1992 Internal Revenue Code.".
SB55-ASA1-AA1,584,20
20"
Section 2143d. 71.05 (6) (b) 20. (intro.) of the statutes is amended to read:
SB55-ASA1-AA1,585,221
71.05
(6) (b) 20. (intro.) For taxable years beginning on or after January 1,
221995
, and before January 1, 2002, an amount paid by a person who is the employee
23of another person if the person's employer pays no amount of money toward the
1person's medical care insurance, for medical care insurance for the person, his or her
2spouse and the person's dependents, calculated as follows:
SB55-ASA1-AA1,585,94
71.05
(6) (b) 34. For taxable years beginning after December 31, 2001, an
5amount paid by an individual, other than a person to whom subd. 19. applies, who
6has no employer or who is the employee of another person if the individual's employer
7pays no amount of money toward the individual's medical care insurance, for medical
8care insurance for the individual, his or her spouse, and the individual's dependents,
9calculated as follows:
SB55-ASA1-AA1,585,1810
a. One hundred percent of the amount paid by the individual for medical care
11insurance. In this subdivision, "medical care insurance" means a medical care
12insurance policy that covers the individual, his or her spouse, and the individual's
13dependents and provides surgical, medical, hospital, major medical, or other health
14service coverage, and includes payments made for medical care benefits under a
15self-insured plan, but "medical care insurance" does not include hospital indemnity
16policies or policies with ancillary benefits such as accident benefits or benefits for loss
17of income resulting from a total or partial inability to work because of illness,
18sickness, or injury.
SB55-ASA1-AA1,585,2119
b. From the amount calculated under subd. 34. a., subtract the amounts
20deducted from gross income for medical care insurance in the calculation of federal
21adjusted gross income.
SB55-ASA1-AA1,586,822
c. For an individual who is a nonresident or part-year resident of this state,
23multiply the amount calculated under subd. 34. a. or b., by a fraction the numerator
24of which is the individual's wages, salary, tips, unearned income, and net earnings
25from a trade or business that are taxable by this state and the denominator of which
1is the individual's total wages, salary, tips, unearned income, and net earnings from
2a trade or business. In this subd. 34. c., for married persons filing separately "wages,
3salary, tips, unearned income, and net earnings from a trade or business" means the
4separate wages, salary, tips, unearned income, and net earnings from a trade or
5business of each spouse, and for married persons filing jointly "wages, salary, tips,
6unearned income, and net earnings from a trade or business" means the total wages,
7salary, tips, unearned income, and net earnings from a trade or business of both
8spouses.
SB55-ASA1-AA1,586,119
d. Reduce the amount calculated under subd. 34. a., b., or c. to the individual's
10aggregate wages, salary, tips, unearned income, and net earnings from a trade or
11business that are taxable by this state.".
SB55-ASA1-AA1,586,2219
71.07
(2dx) (a) 2. "Development zone" means a development zone under s.
20560.70, a development opportunity zone under s. 560.795
or
, an enterprise
21development zone under s. 560.797
, or an agricultural development zone under s.
22560.798.".
SB55-ASA1-AA1,586,24
24"
Section 2147d. 71.07 (2dx) (b) (intro.) of the statutes is amended to read:
SB55-ASA1-AA1,587,5
171.07
(2dx) (b)
Credit. (intro.) Except as provided in s. 73.03 (35) and subject
2to s. 560.785, for any taxable year for which the person is entitled under s. 560.795
3(3) to claim tax benefits or certified under s. 560.765 (3)
or, 560.797 (4)
or 560.798 (3),
4any person may claim as a credit against taxes imposed on the person's income from
5the person's business activities in a development zone the following amounts:
SB55-ASA1-AA1,587,167
71.07
(2dx) (c)
Credit precluded. If the certification of a person for tax benefits
8under s. 560.765 (3)
or, 560.797 (4)
or 560.798 (3) is revoked, or if the person becomes
9ineligible for tax benefits under s. 560.795 (3), that person may not claim credits
10under this subsection for the taxable year that includes the day on which the
11certification is revoked; the taxable year that includes the day on which the person
12becomes ineligible for tax benefits; or succeeding taxable years and that person may
13not carry over unused credits from previous years to offset tax under this chapter for
14the taxable year that includes the day on which certification is revoked; the taxable
15year that includes the day on which the person becomes ineligible for tax benefits;
16or succeeding taxable years.
SB55-ASA1-AA1,587,2418
71.07
(2dx) (d)
Carry-over precluded. If a person who is entitled under s.
19560.795 (3) to claim tax benefits or certified under s. 560.765 (3)
or, 560.797 (4)
or
20560.798 (3) for tax benefits ceases business operations in the development zone
21during any of the taxable years that that zone exists, that person may not carry over
22to any taxable year following the year during which operations cease any unused
23credits from the taxable year during which operations cease or from previous taxable
24years.".
SB55-ASA1-AA1,588,33
71.07
(5r) E
ducation credit. (a) In this subsection:
SB55-ASA1-AA1,588,64
1. "Claimant" means a sole proprietor, a partner, a member of a limited liability
5company, or a shareholder of a tax-option corporation who files a claim under this
6subsection.
SB55-ASA1-AA1,588,87
2. "Degree-granting program" means an educational program for which an
8associate, a bachelor's, or a graduate degree is awarded upon successful completion.
SB55-ASA1-AA1,588,99
3. "Family member" has the meaning given in s. 157.061 (7).
SB55-ASA1-AA1,588,1210
4. "Managing employee" means an individual who wholly or partially exercises
11operational or managerial control over, or who directly or indirectly conducts, the
12operation of the claimant's business.
SB55-ASA1-AA1,588,1313
5. "Poverty line" has the meaning given under s. 49.001 (5).
SB55-ASA1-AA1,588,1414
6. "Qualified postsecondary institution" means all of the following:
SB55-ASA1-AA1,588,1715
a. A University of Wisconsin System institution, a technical college system
16institution, or a regionally accredited 4-year nonprofit college or university having
17its regional headquarters and principal place of business in this state.
SB55-ASA1-AA1,588,1918
b. A school approved under s. 45.54, if the school has a physical presence, and
19the delivery of education occurs, in this state.
SB55-ASA1-AA1,588,2120
(b) Subject to the limitations provided in this subsection, a claimant may claim
21as a credit against the tax imposed under s. 71.02 an amount equal to the following:
SB55-ASA1-AA1,589,222
1. Fifty percent of the tuition that the claimant paid or incurred during the
23taxable year for an individual to participate in an education program of a qualified
1postsecondary institution, if the individual was enrolled in a degree-granting
2program.
SB55-ASA1-AA1,589,83
2. Seventy five percent of the tuition that the claimant paid or incurred during
4the taxable year for an individual to participate in an education program of a
5qualified postsecondary institution, if the individual was enrolled in a
6degree-granting program and if the individual's taxable income in the year prior to
7commencing participation in the education program in connection with which a
8credit is claimed is not more than 185% of the poverty line.
SB55-ASA1-AA1,589,119
(c) A claimant may not claim the credit under par. (b) for any tuition amounts
10that the claimant excluded under s. 71.05 (6) (b) 28. or under section
127 of the
11Internal Revenue Code.
SB55-ASA1-AA1,589,1412
(cm) A claimant may not claim the credit under par. (b) for any tuition amounts
13that the claimant paid or incurred for a family member of the claimant or for a family
14member of a managing employee unless all of the following apply:
SB55-ASA1-AA1,589,1815
1. The family member was employed an average of at least 20 hours a week as
16an employee of the claimant, or the claimant's business, during the one-year period
17prior to commencing participation in the education program in connection with
18which the claimant claims a credit under par. (b).
SB55-ASA1-AA1,589,2019
2. The family member is enrolled in a degree-granting program that is
20substantially related to the claimant's business.
SB55-ASA1-AA1,589,2221
3. The family member is making satisfactory progress towards completing the
22degree-granting program under subd. 2.
SB55-ASA1-AA1,589,2423
(d) The carry-over provisions of s. 71.28 (4) (e) and (f), as they apply to the credit
24under s. 71.28 (4), apply to the credit under this subsection.
SB55-ASA1-AA1,590,8
1(e) Partnerships, limited liability companies, and tax-option corporations may
2not claim the credit under this subsection, but the eligibility for, and the amount of,
3the credit are based on their payment of tuition under par. (b). A partnership, limited
4liability company, or tax-option corporation shall compute the amount of credit that
5each of its partners, members, or shareholders may claim and shall provide that
6information to each of them. Partners, members of limited liability companies, and
7shareholders of tax-option corporations may claim the credit in proportion to their
8ownership interest.
SB55-ASA1-AA1,590,109
(f) Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4),
10applies to the credit under this subsection.".
SB55-ASA1-AA1,590,1413
71.07
(5d) Industrial, service, and skilled trades apprenticeship credit. (a)
14In this subsection:
SB55-ASA1-AA1,590,2115
1. "Apprentice" means a person who participates in a 2-year to 5-year
16apprenticeship program, as determined and approved by the department, in which
17the person receives instruction leading to qualification as a skilled journeyman in
18any industrial manufacturing trade or private sector service occupation or receives
19instruction in the construction trades leading to qualification as a skilled
20journeyman carpenter, including a floor coverer, millwright, or pile driver; laborer;
21ironworker; or painter, including a taper.
SB55-ASA1-AA1,590,2322
2. "Claimant" means a person who files a claim under this subsection and who
23is a trades trainer, as determined and approved by the department.
SB55-ASA1-AA1,590,2424
3. "Department" means the department of workforce development.
SB55-ASA1-AA1,591,8
1(b) Subject to the limitations provided in this subsection, for taxable years
2beginning after June 30, 2003, a claimant may claim as a credit against the taxes
3imposed under s. 71.02 an amount that is equal to 5% of the wages that the claimant
4paid to an apprentice in the taxable year, but not to exceed $1,400, except that a
5claimant may claim as a credit against the taxes imposed under s. 71.02 an amount
6that is equal to 8% of the wages that the claimant paid to an apprentice in the taxable
7year in which the apprentice completes an apprenticeship program, but not to exceed
8$3,000.
