SB55-SSA1-CA1,389,1613
70.114
(3) Ascertaining rate. Each year, the department
of natural resources
14and the department of forestry shall ascertain from the clerks of the taxation district
15the aggregate net general property tax rate for taxation districts to which aids are
16paid under this section.
SB55-SSA1-CA1,389,2118
70.114
(4) (a) On or before January 31, the department
of natural resources
19shall pay to each treasurer of a taxation district, with respect to each parcel of land
20acquired
by that is under the jurisdiction of the department
and that is within the
21taxation district on or before January 1 of the preceding year
, an.
SB55-SSA1-CA1,390,2
22(c) The amount
to be paid under par. (a) or (b) shall be determined by
23multiplying each parcel's estimated value equated to the average level of assessment
24in the taxation district by the aggregate net general property tax rate that would
1apply to the parcel of land if it were taxable, as shown on property tax bills prepared
2for that year under s. 74.09.
SB55-SSA1-CA1,390,74
70.114
(4) (b) On or before January 31, the department of forestry shall pay to
5each treasurer of a taxation district, with respect to each parcel of state land acquired
6that is under the jurisdiction of the department of forestry and that is within the
7taxation district on or before January 1 of the preceding year.".
SB55-SSA1-CA1,390,1910
70.35
(1) To determine the amount and value of any personal property for
11which any person, firm or corporation should be assessed, any assessor may examine
12such person or the managing agent or officer of any firm or corporation under oath
13as to all such items of personal property, the taxable value thereof as defined in s.
1470.34 if the property is taxable and the fair market value if the property is exempt
15under s. 70.11 (39)
or (39m). In the alternative the assessor may require such person,
16firm or corporation to submit a return of such personal property and of the taxable
17value thereof. There shall be annexed to such return the declaration of such person
18or of the managing agent or officer of such firm or corporation that the statements
19therein contained are true.
SB55-SSA1-CA1,391,721
70.35
(2) The return shall be made and all the information therein requested
22given by such person on a form prescribed by the assessor with the approval of the
23department of revenue which shall provide suitable schedules for such information
24bearing on value as the department deems necessary to enable the assessor to
1determine the true cash value of the taxable personal property, and of the personal
2property that is exempt under s. 70.11 (39)
and (39m), that is owned or in the
3possession of such person on January 1 as provided in s. 70.10. The return may
4contain methods of deriving assessable values from book values and for the
5conversion of book values to present values, and a statement as to the accounting
6method used. No person shall be required to take detailed physical inventory for the
7purpose of making the return required by this section.
SB55-SSA1-CA1,391,119
70.36
(1m) Any person, firm or corporation that fails to include information on
10property that is exempt under s. 70.11 (39)
and (39m) on the report under s. 70.35
11shall forfeit $10 for every $100 or major fraction thereof that is not reported.".
SB55-SSA1-CA1,391,24
1470.58 Forestation state tax. There is levied an annual tax of two-tenths of
15one mill for each dollar of the assessed valuation of the property of the state as
16determined by the department of revenue under s. 70.57, for the purpose of
17acquiring, preserving and developing the forests of the state and for the purpose of
18forest crop law and county forest law administration and aid payments, for grants
19to forestry cooperatives under s. 36.56, and for the acquisition, purchase and
20development of forests described under s.
25.29 (7) (a) 25.28 (3) (am) and (b), the
21proceeds of the tax to be paid into the
conservation
forestry fund. The tax shall not
22be levied in any year in which general funds are appropriated for the purposes
23specified in this section, equal to or in excess of the amount which the tax would
24produce.".
SB55-SSA1-CA1,392,75
70.995
(12r) The department of revenue shall calculate the value of property
6that is used in manufacturing, as defined in this section, and that is exempt under
7s. 70.11 (39)
and (39m).".
SB55-SSA1-CA1,392,1412
71.05
(1) (am)
Military retirement systems. All retirement payments, other
13than surviving spouse benefits, received from the U.S. military employee retirement
14system, to the extent that such payments are not exempt under par. (a).
SB55-SSA1-CA1,392,2016
71.05
(1) (an)
Uniformed services retirement benefits. All retirement payments
17received by an individual from the U.S. government that relate to the individual's
18service with the coast guard, the commissioned corps of the national oceanic and
19atmospheric administration, or the commissioned corps of the public health service,
20to the extent that such payments are not exempt under par. (a) or (am).".
SB55-SSA1-CA1,393,623
71.07
(2di) (b) 1. Except as provided in subd. 2., the credit, including any
24credits carried over, may be offset only against the amount of the tax otherwise due
1under this chapter attributable to income from the business operations of the
2claimant in the development zone
; except that a claimant in a development zone
3under s. 560.795 (1) (e) may offset the credit, including any credits carried over,
4against the amount of the tax otherwise due under this chapter attributable to all
5of the claimant's income; and against the tax attributable to income from directly
6related business operations of the claimant.
SB55-SSA1-CA1,393,248
71.07
(2di) (b) 3. Partnerships, limited liability companies and tax-option
9corporations may not claim the credit under this subsection, but the eligibility for,
10and amount of, that credit shall be determined on the basis of their economic activity,
11not that of their shareholders, partners or members. The corporation, partnership
12or company shall compute the amount of the credit that may be claimed by each of
13its shareholders, partners or members and shall provide that information to each of
14its shareholders, partners or members. Partners, members of limited liability
15companies and shareholders of tax-option corporations may claim the credit based
16on the partnership's, company's or corporation's activities in proportion to their
17ownership interest and may offset it against the tax attributable to their income from
18the partnership's, company's or corporation's business operations in the
19development zone
; except that partners, members, and shareholders in a
20development zone under s. 560.795 (1) (e) may offset the credit against the amount
21of the tax attributable to their income from all of the partnership's, company's, or
22corporation's business operations; and against the tax attributable to their income
23from the partnership's, company's or corporation's directly related business
24operations.".
SB55-SSA1-CA1,394,12
5"(hm) Credits claimed under this subsection, including any credits carried over,
6may be offset only against the amount of the tax otherwise due under this subchapter
7attributable to income from the business operations of the claimant in the
8development zone; except that a claimant in a development zone under s. 560.795 (1)
9(e) may offset credits, including any credits carried over, against the amount of the
10tax otherwise due under this subchapter attributable to all of the claimant's income;
11and against the tax attributable to income from directly related business operations
12of the claimant.".
SB55-SSA1-CA1,394,16
131026. Page 733, line 14: after "zone" insert "; except that partners, members,
14and shareholders in a development zone under s. 560.795 (1) (e) may offset the credit
15against the amount of the tax attributable to their income from all of the
16partnership's, company's, or corporation's business operations;".
SB55-SSA1-CA1,395,221
71.07
(2dx) (a) 2. "Development zone" means a development zone under s.
22560.70, a development opportunity zone under s. 560.795
or
, an enterprise
1development zone under s. 560.797
, or an agricultural development zone under s.
2560.798.".
SB55-SSA1-CA1,395,55
71.07
(5) (a) 10. Any amount claimed as a credit under sub. (9t).".
SB55-SSA1-CA1,395,178
71.07
(2dx) (c)
Credit precluded. If the certification of a person for tax benefits
9under s. 560.765 (3)
or, 560.797 (4)
or 560.798 (3) is revoked, or if the person becomes
10ineligible for tax benefits under s. 560.795 (3), that person may not claim credits
11under this subsection for the taxable year that includes the day on which the
12certification is revoked; the taxable year that includes the day on which the person
13becomes ineligible for tax benefits; or succeeding taxable years and that person may
14not carry over unused credits from previous years to offset tax under this chapter for
15the taxable year that includes the day on which certification is revoked; the taxable
16year that includes the day on which the person becomes ineligible for tax benefits;
17or succeeding taxable years.
SB55-SSA1-CA1,396,219
71.07
(2dx) (d)
Carry-over precluded. If a person who is entitled under s.
20560.795 (3) to claim tax benefits or certified under s. 560.765 (3)
or, 560.797 (4)
or
21560.798 (3) for tax benefits ceases business operations in the development zone
22during any of the taxable years that that zone exists, that person may not carry over
23to any taxable year following the year during which operations cease any unused
1credits from the taxable year during which operations cease or from previous taxable
2years.".
SB55-SSA1-CA1,396,4
4"
Section 2147k. 71.07 (2dx) (b) (intro.) of the statutes is amended to read:
SB55-SSA1-CA1,396,105
71.07
(2dx) (b)
Credit. (intro.) Except as provided
in pars. (be) and (bg) and 6in s. 73.03 (35)
, and subject to s. 560.785, for any taxable year for which the person
7is entitled under s. 560.795 (3) to claim tax benefits or certified under s. 560.765 (3)
8or, 560.797 (4)
or 560.798 (3), any person may claim as a credit against taxes imposed
9on the person's income from the person's business activities in a development zone
10the following amounts:
SB55-SSA1-CA1,396,1612
71.07
(2dx) (be)
Offset. A claimant in a development zone under s. 560.795 (1)
13(e) may offset any credits claimed under this subsection, including any credits
14carried over, against the amount of the tax otherwise due under this subchapter
15attributable to all of the claimant's income and against the tax attributable to income
16from directly related business operations of the claimant.
SB55-SSA1-CA1,397,718
71.07
(2dx) (bg)
Other entities. For claimants in a development zone under s.
19560.795 (1) (e), partnerships, limited liability companies, and tax-option
20corporations may not claim the credit under this subsection, but the eligibility for,
21and amount of, that credit shall be determined on the basis of their economic activity,
22not that of their shareholders, partners, or members. The corporation, partnership,
23or company shall compute the amount of the credit that may be claimed by each of
24its shareholders, partners, or members and shall provide that information to each
1of its shareholders, partners, or members. Partners, members of limited liability
2companies, and shareholders of tax-option corporations may claim the credit based
3on the partnership's, company's, or corporation's activities in proportion to their
4ownership interest and may offset it against the tax attributable to their income from
5all of the partnership's, company's, or corporation's business operations and against
6the tax attributable to their income from the partnership's, company's, or
7corporation's directly related business operations.".
SB55-SSA1-CA1,397,1312
71.07
(9t) Artistic endowment credit. (a)
Definition. In this subsection,
13"claimant" means a person who files a claim under this subsection.
SB55-SSA1-CA1,397,1814
(b)
Filing claims. For taxable years beginning after December 31, 2002, subject
15to the limitations provided in this subsection, a claimant may claim as a credit
16against the tax imposed under s. 71.02, up to the amount of those taxes, an amount
17equal to 10% of the amount contributed to the artistic endowment fund under s.
1825.78.
SB55-SSA1-CA1,397,2019
(c)
Limitations and conditions. 1. The maximum credit that may be claimed
20under par. (b), in a taxable year, is one of the following amounts:
SB55-SSA1-CA1,397,2221
a. If the claimant is a single individual or a married individual who files a
22separate income tax return, $5.
SB55-SSA1-CA1,397,2423
b. If the claimant is married and the claimant and his or her spouse file a joint
24income tax return, $10.
SB55-SSA1-CA1,398,2
12. Nonresidents of this state are not eligible for the credit under this subsection,
2except as provided under subd. 3.
SB55-SSA1-CA1,398,123
3. For a claimant who is a part-year resident of this state and who is a single
4person or a married person filing a separate return, multiply the credit for which the
5claimant is eligible under subd. 1. by a fraction, the numerator of which is the
6individual's Wisconsin adjusted gross income and the denominator of which is the
7individual's federal adjusted gross income. If a claimant is married and files a joint
8return, and if the claimant's spouse is a nonresident or if the claimant or the
9claimant's spouse, or both, are part-year residents of this state, multiply the credit
10for which the claimant is eligible under subd. 1. by a fraction, the numerator of which
11is the couple's joint Wisconsin adjusted gross income and the denominator of which
12is the couple's joint federal adjusted gross income.
SB55-SSA1-CA1,398,1513
4. No new claim may be filed under this subsection for a taxable year that
14begins after December 31 of the year in which the department determines that the
15total amount of revenues received by the endowment fund equals $50,150,000.
SB55-SSA1-CA1,398,1716
5. No credit may be allowed under this subsection unless it is claimed within
17the time period under s. 71.75 (2).
SB55-SSA1-CA1,398,1918
(d)
Administration. Subsection (9e) (d), to the extent that it applies to the credit
19under that subsection, applies to the credit under this subsection.
SB55-SSA1-CA1,398,2121
71.10
(4) (dg) The artistic endowment credit under s. 71.07 (9t).".
SB55-SSA1-CA1,399,103
71.28
(1di) (b) 1. Except as provided in subd. 2., the credit, including any
4credits carried over, may be offset only against the amount of the tax otherwise due
5under this chapter attributable to income from the business operations of the
6claimant in the development zone
; except that a claimant in a development zone
7under s. 560.795 (1) (e) may offset the credit, including any credits carried over,
8against the amount of the tax otherwise due under this chapter attributable to all
9of the claimant's income; and against the tax attributable to income from directly
10related business operations of the claimant.
SB55-SSA1-CA1,400,412
71.28
(1di) (b) 3. Partnerships, limited liability companies and tax-option
13corporations may not claim the credit under this subsection, but the eligibility for,
14and amount of, that credit shall be determined on the basis of their economic activity,
15not that of their shareholders, partners or members. The corporation, partnership
16or limited liability company shall compute the amount of the credit that may be
17claimed by each of its shareholders, partners or members and shall provide that
18information to each of its shareholders, partners or members. Partners, members
19of limited liability companies and shareholders of tax-option corporations may claim
20the credit based on the partnership's, company's or corporation's activities in
21proportion to their ownership interest and may offset it against the tax attributable
22to their income from the partnership's, company's or corporation's business
23operations in the development zone
; except that partners, members, and
24shareholders in a development zone under s. 560.795 (1) (e) may offset the credit
1against the amount of the tax attributable to their income from all of the
2partnership's, company's, or corporation's business operations; and against the tax
3attributable to their income from the partnership's, company's or corporation's
4directly related business operations.".
SB55-SSA1-CA1,400,16
9"(hm) Credits claimed under this subsection, including any credits carried over,
10may be offset only against the amount of the tax otherwise due under this subchapter
11attributable to income from the business operations of the claimant in the
12development zone; except that a claimant in a development zone under s. 560.795 (1)
13(e) may offset credits, including any credits carried over, against the amount of the
14tax otherwise due under this subchapter attributable to all of the claimant's income;
15and against the tax attributable to income from directly related business operations
16of the claimant.".
SB55-SSA1-CA1,400,20
171042. Page 796, line 17: after "zone" insert "; except that partners, members,
18and shareholders in a development zone under s. 560.795 (1) (e) may offset the credit
19against the amount of the tax attributable to their income from all of the
20partnership's, company's, or corporation's business operations;".
