SB55-ASA1-AA1,628,1911
71.42
(2) (om) For taxable years beginning after December 31, 2000, and before
12January 1, 2002, "Internal Revenue Code" means the federal Internal Revenue Code
13as amended by sections 411, 412 (a), 611 (a), 635, 636 (b), 641 to 646, 655, 658, and
14701 of P.L.
107-16 and as indirectly affected by sections 411, 412 (a), 611 (a), 635, 636
15(b), 641 to 646, 655, 658, and 701 of P.L.
107-16. The Internal Revenue Code applies
16for Wisconsin purposes at the same time as for federal purposes. Amendments to the
17federal Internal Revenue Code enacted after June 30, 2001, do not apply to this
18paragraph with respect to taxable years beginning after December 31, 2000, and
19before January 1, 2002.".
SB55-ASA1-AA1,629,322
71.45
(2) (a) 10. By adding to federal taxable income the amount of credit
23computed under s. 71.47 (1dd) to (1dx)
and (5r) and not passed through by a
24partnership, limited liability company
, or tax-option corporation that has added that
1amount to the partnership's, limited liability company's
, or tax-option corporation's
2income under s. 71.21 (4) or 71.34 (1) (g) and the amount of credit computed under
3s. 71.47 (1), (3), (4)
, and (5).".
SB55-ASA1-AA1,629,116
71.45
(2) (a) 10. By adding to federal taxable income the amount of credit
7computed under s. 71.47 (1dd) to (1dx)
and (5d) and not passed through by a
8partnership, limited liability company or tax-option corporation that has added that
9amount to the partnership's, limited liability company's
, or tax-option corporation's
10income under s. 71.21 (4) or 71.34 (1) (g) and the amount of credit computed under
11s. 71.47 (1), (3), (4) and (5).".
SB55-ASA1-AA1,629,1914
71.45
(2) (a) 10. By adding to federal taxable income the amount of credit
15computed under s. 71.47 (1dd) to (1dx)
and (5s) and not passed through by a
16partnership, limited liability company or tax-option corporation that has added that
17amount to the partnership's, limited liability company's or tax-option corporation's
18income under s. 71.21 (4) or 71.34 (1) (g) and the amount of credit computed under
19s. 71.47 (1), (3), (4) and (5).".
SB55-ASA1-AA1,630,63
71.47
(1dx) (a) 2. "Development zone" means a development zone under s.
4560.70, a development opportunity zone under s. 560.795 or an enterprise
5development zone under s. 560.797
, or an agricultural development zone under s.
6560.798.".
SB55-ASA1-AA1,630,8
8"
Section 2192d. 71.47 (1dx) (b) (intro.) of the statutes is amended to read:
SB55-ASA1-AA1,630,149
71.47
(1dx) (b)
Credit. (intro.) Except or provided in s. 73.03 (35) and subject
10to s. 560.785, for any taxable year for which the person is entitled under s. 560.795
11(3) to claim tax benefits or certified under s. 560.765 (3)
or, 560.797 (4)
or 560.798 (3),
12any person may claim as a credit against taxes imposed on the person's income from
13the person's business activities in a development zone under this subchapter the
14following amounts:
SB55-ASA1-AA1,631,216
71.47
(1dx) (c)
Credit precluded. If the certification of a person for tax benefits
17under s. 560.765 (3)
or, 560.797 (4)
or 560.798 (3) is revoked, or if the person becomes
18ineligible for tax benefits under s. 560.795 (3), that person may not claim credits
19under this subsection for the taxable year that includes the day on which the
20certification is revoked; the taxable year that includes the day on which the person
21becomes ineligible for tax benefits; or succeeding taxable years and that person may
22not carry over unused credits from previous years to offset tax under this chapter for
23the taxable year that includes the day on which certification is revoked; the taxable
1year that includes the day on which the person becomes ineligible for tax benefits;
2or succeeding taxable years.
SB55-ASA1-AA1,631,104
71.47
(1dx) (d)
Carry-over precluded. If a person who is entitled under s.
5560.795 (3) to claim tax benefits or certified under s. 560.765 (3)
or, 560.797 (4)
or
6560.798 (3) for tax benefits ceases business operations in the development zone
7during any of the taxable years that that zone exists, that person may not carry over
8to any taxable year following the year during which operations cease any unused
9credits from the taxable year during which operations cease or from previous taxable
10years.".
SB55-ASA1-AA1,631,1313
71.47
(5r) E
ducation credit. (a) In this subsection:
SB55-ASA1-AA1,631,1414
1. "Claimant" means a corporation that files a claim under this subsection.
SB55-ASA1-AA1,631,1615
2. "Degree-granting program" means an educational program for which an
16associate, a bachelor's, or a graduate degree is awarded upon successful completion.
SB55-ASA1-AA1,631,1717
3. "Family member" has the meaning given in s. 157.061 (7).
SB55-ASA1-AA1,631,2018
4. "Managing employee" means an individual who wholly or partially exercises
19operational or managerial control over, or who directly or indirectly conducts, the
20operation of the claimant's business.
SB55-ASA1-AA1,631,2121
5. "Poverty line" has the meaning given under s. 49.001 (5).
SB55-ASA1-AA1,631,2222
6. "Qualified postsecondary institution" means all of the following:
SB55-ASA1-AA1,632,3
1a. A University of Wisconsin System institution, a technical college system
2institution, or a regionally accredited 4-year nonprofit college or university having
3its regional headquarters and principal place of business in this state.
SB55-ASA1-AA1,632,54
b. A school approved under s. 45.54, if the school has a physical presence, and
5the delivery of education occurs, in this state.
SB55-ASA1-AA1,632,76
(b) Subject to the limitations provided in this subsection, a claimant may claim
7as a credit against the tax imposed under s. 71.43 an amount equal to the following:
SB55-ASA1-AA1,632,118
1. Fifty percent of the tuition that the claimant paid or incurred during the
9taxable year for an individual to participate in an education program of a qualified
10postsecondary institution, if the individual was enrolled in a degree-granting
11program.
SB55-ASA1-AA1,632,1712
2. Seventy five percent of the tuition that the claimant paid or incurred during
13the taxable year for an individual to participate in an education program of a
14qualified postsecondary institution, if the individual was enrolled in a
15degree-granting program and if the individual's taxable income in the year prior to
16commencing participation in the education program in connection with which a
17credit is claimed is not more than 185% of the poverty line.
SB55-ASA1-AA1,632,1918
(c) A claimant may not claim the credit under par. (b) for any tuition amounts
19that the claimant excluded under section
127 of the Internal Revenue Code.
SB55-ASA1-AA1,632,2220
(cm) A claimant may not claim the credit under par. (b) for any tuition amounts
21that the claimant paid or incurred for a family member of a managing employee
22unless all of the following apply:
SB55-ASA1-AA1,633,223
1. The family member was employed an average of at least 20 hours a week as
24an employee of the claimant, or the claimant's business, during the one-year period
1prior to commencing participation in the education program in connection with
2which the claimant claims a credit under par. (b).
SB55-ASA1-AA1,633,43
2. The family member is enrolled in a degree-granting program that is
4substantially related to the claimant's business.
SB55-ASA1-AA1,633,65
3. The family member is making satisfactory progress towards completing the
6degree-granting program under subd. 2.
SB55-ASA1-AA1,633,87
(d) The carry-over provisions of s. 71.28 (4) (e) and (f), as they apply to the credit
8under s. 71.28 (4), apply to the credit under this subsection.
SB55-ASA1-AA1,633,169
(e) Partnerships, limited liability companies, and tax-option corporations may
10not claim the credit under this subsection, but the eligibility for, and the amount of,
11the credit are based on their payment of tuition under par. (b). A partnership, limited
12liability company, or tax-option corporation shall compute the amount of credit that
13each of its partners, members, or shareholders may claim and shall provide that
14information to each of them. Partners, members of limited liability companies, and
15shareholders of tax-option corporations may claim the credit in proportion to their
16ownership interest.
SB55-ASA1-AA1,633,1817
(f) Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4),
18applies to the credit under this subsection.
SB55-ASA1-AA1,633,2020
71.49
(1) (dm) The education credit under s. 71.47 (5r).".
SB55-ASA1-AA1,633,2423
71.47
(5d) Industrial, service, and skilled trades apprenticeship credit. (a)
24In this subsection:
SB55-ASA1-AA1,634,7
11. "Apprentice" means a person who participates in a 2-year to 5-year
2apprenticeship program, as determined and approved by the department, in which
3the person receives instruction leading to qualification as a skilled journeyman in
4any industrial manufacturing trade or private sector service occupation or receives
5instruction in the construction trades leading to qualification as a skilled
6journeyman carpenter, including a floor coverer, millwright, or pile driver; laborer;
7ironworker; or painter, including a taper.
SB55-ASA1-AA1,634,98
2. "Claimant" means a person who files a claim under this subsection and who
9is a trades trainer, as determined and approved by the department.
SB55-ASA1-AA1,634,1010
3. "Department" means the department of workforce development.
SB55-ASA1-AA1,634,1811
(b) Subject to the limitations provided in this subsection, for taxable years
12beginning after June 30, 2003, a claimant may claim as a credit against the taxes
13imposed under s. 71.43 an amount that is equal to 5% of the wages that the claimant
14paid to an apprentice in the taxable year, but not to exceed $1,400, except that a
15claimant may claim as a credit against the taxes imposed under s. 71.43 an amount
16that is equal to 8% of the wages that the claimant paid to an apprentice in the taxable
17year in which the apprentice completes an apprenticeship program, but not to exceed
18$3,000.
SB55-ASA1-AA1,634,2219
(c) No claimant may receive a credit under this subsection unless the claimant
20enters into an agreement with the department permitting the department to post on
21the department's Internet site the claimant's name and address and the number of
22apprentices employed by the claimant during the calendar year.
SB55-ASA1-AA1,635,823
(d) This subsection does not apply to taxable years that begin after June 30,
242006, if the number of employers training apprentices in department-approved
25programs does not increase by more than 40% from July 1, 2003, to June 30, 2006,
1as determined by the department, except that a claimant who has claimed a credit
2for an apprentice's wages in any taxable year beginning before July 1, 2006, may
3continue to claim a credit for the apprentice's wages in succeeding taxable years,
4until the apprentice completes the apprenticeship program. As soon as practicable
5after June 30, 2006, the department shall certify to the department of revenue the
6number of employers training apprentices in approved programs on July 1, 2003, and
7the number of employers training apprentices in approved programs on June 30,
82006.
