SB55-ASA1-AA35,2,99
(e) On all taxable income exceeding $200,000, 6.75%.
SB55-ASA1-AA35,2,1211
71.06
(2) (g) (intro.) For joint returns, for taxable years beginning after
12December 31, 2000
, and before January 1, 2002:
SB55-ASA1-AA35,2,1514
71.06
(2) (h) (intro.) For married persons filing separately, for taxable years
15beginning after December 31, 2000
, and before January 1, 2002:
SB55-ASA1-AA35,2,1817
71.06
(2) (i) For joint returns, for taxable years beginning after
18December 31, 2001:
SB55-ASA1-AA35,2,1919
1. On all taxable income from $0 to $13,000, 4.73%.
SB55-ASA1-AA35,2,2020
2. On all taxable income exceeding $13,000 but not exceeding $60,000, 6.0%.
SB55-ASA1-AA35,2,2121
3. On all taxable income exceeding $60,000 but not exceeding $120,000, 6.33%.
SB55-ASA1-AA35,2,2322
4. On all taxable income exceeding $120,000 but not exceeding $240,000,
236.55%.
SB55-ASA1-AA35,2,2424
5. On all taxable income exceeding $240,000, 6.75%.
SB55-ASA1-AA35,3,2
171.06
(2) (j) For married persons filing separately, for taxable years beginning
2after December 31, 2001:
SB55-ASA1-AA35,3,33
1. On all taxable income from $0 to $6,500, 4.73%.
SB55-ASA1-AA35,3,44
2. On all taxable income exceeding $6,500 but not exceeding $30,000, 6.0%.
SB55-ASA1-AA35,3,55
3. On all taxable income exceeding $30,000 but not exceeding $60,000, 6.33%.
SB55-ASA1-AA35,3,66
4. On all taxable income exceeding $60,000 but not exceeding $120,000, 6.55%.
SB55-ASA1-AA35,3,77
5. On all taxable income exceeding $120,000, 6.75%.".
SB55-ASA1-AA35,3,12
93. Page 730, line 2: after "and (h)" insert "
and for taxable years beginning after
10December 31, 2001, the maximum dollar amount in each tax bracket, and the
11corresponding minimum dollar amount in the next bracket, under subs. (1q) and (2)
12(i) and (j),".
SB55-ASA1-AA35,3,1815
71.06
(2m) Rate changes. If a rate under sub. (1), (1m), (1n), (1p)
or, (1q), or 16(2) changes during a taxable year, the taxpayer shall compute the tax for that taxable
17year by the methods applicable to the federal income tax under section
15 of the
18internal revenue code.
SB55-ASA1-AA35,4,820
71.06
(2s) (d) For taxable years beginning after December 31, 2000,
and before
21January 1, 2002, with respect to nonresident individuals, including individuals
22changing their domicile into or from this state, the tax brackets under subs. (1p) and
23(2) (g) and (h) shall be multiplied by a fraction, the numerator of which is Wisconsin
24adjusted gross income and the denominator of which is federal adjusted gross
1income. In this paragraph, for married persons filing separately "adjusted gross
2income" means the separate adjusted gross income of each spouse, and for married
3persons filing jointly "adjusted gross income" means the total adjusted gross income
4of both spouses. If an individual and that individual's spouse are not both domiciled
5in this state during the entire taxable year, the tax brackets under subs. (1p) and (2)
6(g) and (h) on a joint return shall be multiplied by a fraction, the numerator of which
7is their joint Wisconsin adjusted gross income and the denominator of which is their
8joint federal adjusted gross income.
SB55-ASA1-AA35,4,2210
71.06
(2s) (e) For taxable years beginning after December 31, 2001, with
11respect to nonresident individuals, including individuals changing their domicile
12into or from this state, the tax brackets under subs. (1q) and (2) (i) and (j) shall be
13multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income
14and the denominator of which is federal adjusted gross income. In this paragraph,
15for married persons filing separately "adjusted gross income" means the separate
16adjusted gross income of each spouse, and for married persons filing jointly "adjusted
17gross income" means the total adjusted gross income of both spouses. If an individual
18and that individual's spouse are not both domiciled in this state during the entire
19taxable year, the tax brackets under subs. (1 q) and (2) (i) and (j) on a joint return
20shall be multiplied by a fraction, the numerator of which is their joint Wisconsin
21adjusted gross income and the denominator of which is their joint federal adjusted
22gross income.".
SB55-ASA1-AA35,5,4
171.125
(1) Except as provided in sub. (2), the tax imposed by this chapter on
2individuals and the rates under s. 71.06 (1), (1m), (1n), (1p)
and, (1q), and (2) shall
3apply to the Wisconsin taxable income of estates or trusts, except nuclear
4decommissioning trust or reserve funds, and that tax shall be paid by the fiduciary.
SB55-ASA1-AA35,5,106
71.125
(2) Each electing small business trust, as defined in section
1361 (e) (1)
7of the Internal Revenue Code, is subject to tax at the highest rate under s. 71.06 (1),
8(1m), (1n)
or, (1p)
, or (1q), whichever taxable year is applicable, on its income as
9computed under section
641 of the Internal Revenue Code, as modified by s. 71.05
10(6) to (12), (19) and (20).".
SB55-ASA1-AA35,5,1613
71.17
(6) Funeral trusts. If a qualified funeral trust makes the election under
14section
685 of the Internal Revenue Code for federal income tax purposes, that
15election applies for purposes of this chapter and each trust shall compute its own tax
16and shall apply the rates under s. 71.06 (1), (1m), (1n)
or
, (1p)
, or (1q).".
SB55-ASA1-AA35,5,18
18"
Section 2195m. 71.64 (9) (b) (intro.) of the statutes is amended to read:
SB55-ASA1-AA35,5,2219
71.64
(9) (b) (intro.) The department shall from time to time adjust the
20withholding tables to reflect any changes in income tax rates, any applicable surtax
21or any changes in dollar amounts in s. 71.06 (1), (1m), (1n), (1p)
, (1q), and (2) resulting
22from statutory changes, except as follows:
SB55-ASA1-AA35,6,6
171.67
(5) (a)
Wager winnings. A person holding a license to sponsor and
2manage races under s. 562.05 (1) (b) or (c) shall withhold from the amount of any
3payment of pari-mutuel winnings under s. 562.065 (3) (a) or (3m) (a) an amount
4determined by multiplying the amount of the payment by the highest rate applicable
5to individuals under s. 71.06 (1) (a) to (c), (1m), (1n)
or
, (1p)
, or (1q) if the amount of
6the payment is more than $1,000.
SB55-ASA1-AA35,6,138
71.67
(5m) A person that purchases an assignment of a lottery prize shall
9withhold from the amount of any payment made to purchase the assignment the
10amount that is determined by multiplying the amount of the payment by the highest
11rate applicable to individuals under s. 71.06 (1) (a) to (c), (1m), (1n)
or, (1p)
, or (1q).
12Subsection (5) (b), (c) and (d), as it applies to the amounts withheld under sub. (5) (a),
13applies to the amount withheld under this subsection.".
