AB100-SA3,26,139 (c) A member of a commonly controlled group shall retain all information
10provided under par. (a) during any period for which the member's tax liability to this
11state is subject to adjustment, including any period in which the state may assess
12additional income or franchise taxes, an appeal of the member's tax assessment is
13pending, or a suit related to the member's tax liability is pending.
AB100-SA3,26,18 14(17) Corporations not filing. If a corporation that is required to report under
15this section directly or indirectly owns or controls any other corporation, or is directly
16or indirectly owned or controlled by another corporation, the department may
17require that such other corporations join in filing a combined report under this
18section.".
AB100-SA3,26,19 196. Page 646, line 4: after that line insert:
AB100-SA3,26,20 20" Section 1363d. 71.26 (3) (x) of the statutes is amended to read:
AB100-SA3,27,221 71.26 (3) (x) Sections 1501 to 1505, 1551, 1552, 1563 and 1564 (relating to
22consolidated returns) are excluded, except to the extent that they pertain to
23intercompany transactions and the carry-forward of net business loss under s.

171.255 and except that they are modified so that more than 50 percent ownership is
2substituted for at least 80 percent ownership
.
AB100-SA3, s. 1363m 3Section 1363m. 71.26 (4) of the statutes is amended to read:
AB100-SA3,27,204 71.26 (4) Net business loss carry-forward. A corporation, except a tax-option
5corporation or an insurer to which s. 71.45 (4) applies, may offset against its
6Wisconsin net business income any Wisconsin net business loss sustained in any of
7the next 15 preceding taxable years, if the corporation was subject to taxation under
8this chapter in the taxable year in which the loss was sustained, to the extent not
9offset by other items of Wisconsin income in the loss year and by Wisconsin net
10business income of any year between the loss year and the taxable year for which an
11offset is claimed. For purposes of this subsection Wisconsin net business income or
12loss shall consist of all the income attributable to the operation of a trade or business
13in this state, less the business expenses allowed as deductions in computing net
14income. The Wisconsin net business income or loss of corporations engaged in
15business within and without the state shall be determined under s. 71.25 (6) and (10)
16to (12) or 71.255. Nonapportionable losses having a Wisconsin situs under s. 71.25
17(5) (b) shall be included in Wisconsin net business loss; and nonapportionable income
18having a Wisconsin situs under s. 71.25 (5) (b), whether taxable or exempt, shall be
19included in other items of Wisconsin income and Wisconsin net business income for
20purposes of this subsection.".
AB100-SA3,27,21 217. Page 653, line 12: after that line insert:
AB100-SA3,27,22 22" Section 1385m. 71.29 (2) of the statutes is amended to read:
AB100-SA3,28,3
171.29 (2) Who shall pay. Every Except as provided in s. 71.255 (11), every
2corporation subject to tax under s. 71.23 (1) or (2) and every virtually exempt entity
3subject to tax under s. 71.125 or 71.23 (1) or (2) shall pay an estimated tax.".
AB100-SA3,28,4 48. Page 681, line 17: after that line insert:
AB100-SA3,28,5 5" Section 1406b. 71.44 (1) (a) of the statutes is amended to read:
AB100-SA3,28,236 71.44 (1) (a) Every Except as provided in par. (e), every corporation, except
7corporations all of whose income is exempt from taxation and except as provided in
8sub. (1m), shall furnish to the department a true and accurate statement, on or before
9March 15 of each year, except that returns for fiscal years ending on some other date
10than December 31 shall be furnished on or before the 15th day of the 3rd month
11following the close of such fiscal year and except that returns for less than a full
12taxable year shall be furnished on or before the date applicable for federal income
13taxes under the internal revenue code, in such manner and form and setting forth
14such facts as the department deems necessary to enforce this chapter. Every
15corporation that is required to furnish a statement under this paragraph and that
16has income that is not taxable under this subchapter shall include with its statement
17a report that identifies each item of its nontaxable income. The statement shall be
18subscribed by the president, vice president, treasurer, assistant treasurer, chief
19accounting officer or any other officer duly authorized so to act. In the case of a return
20made for a corporation by a fiduciary, the fiduciary shall subscribe the return. The
21fact that an individual's name is subscribed on the return shall be prima facie
22evidence that the individual is authorized to subscribe the return on behalf of the
23corporation.
AB100-SA3, s. 1406c 24Section 1406c. 71.44 (1) (e) of the statutes is created to read:
AB100-SA3,29,3
171.44 (1) (e) A corporation that is a member of a commonly controlled group,
2as defined in s. 71.255 (1) (d), and engaged in a unitary business, as defined in s.
371.255 (1) (m), shall file a tax return under s. 71.255.".
AB100-SA3,29,4 49. Page 682, line 3: after that line insert:
AB100-SA3,29,5 5" Section 1406mh. 71.46 (3) of the statutes is repealed.".
AB100-SA3,29,6 610. Page 689, line 15: after that line insert:
AB100-SA3,29,7 7" Section 1428m. 71.48 of the statutes is amended to read:
AB100-SA3,29,10 871.48 Payments of estimated taxes. Sections Except as provided in s.
971.255 (11), ss.
71.29 and 71.84 (2) shall apply to insurers subject to taxation under
10this chapter.".
AB100-SA3,29,11 1111. Page 695, line 14: after that line insert:
AB100-SA3,29,12 12" Section 1432n. 71.84 (2) (a) of the statutes is amended to read:
AB100-SA3,29,2313 71.84 (2) (a) Except as provided in s. 71.29 (7), in the case of any underpayment
14of estimated tax under s. 71.255, 71.29 or 71.48 there shall be added to the aggregate
15tax for the taxable year interest at the rate of 12% per year on the amount of the
16underpayment for the period of the underpayment. For corporations, except as
17provided in par. (b), "period of the underpayment" means the time period from the
18due date of the installment until either the 15th day of the 3rd month beginning after
19the end of the taxable year or the date of payment, whichever is earlier. If 90% of the
20tax shown on the return is not paid by the 15th day of the 3rd month following the
21close of the taxable year, the difference between that amount and the estimated taxes
22paid, along with any interest due, shall accrue delinquent interest under s. 71.91 (1)
23(a).".
AB100-SA3,29,24 2412. Page 1036, line 23: after that line insert:
AB100-SA3,30,6
1"(2q) Unemployment compensation benefits. The treatment of section 71.05
2(6) (b) 8. of the statutes first applies to taxable years beginning on January 1 of the
3year in which this subsection takes effect, except that if this subsection takes effect
4after July 31 the treatment of section 71.05 (6) (b) 8. of the statutes first applies to
5taxable years beginning on January 1 of the year following the year in which this
6subsection takes effect.".
AB100-SA3,30,7 713. Page 1036, line 25: after that line insert:
AB100-SA3,30,13 8"(3m) Income tax exemption; pension, retirement benefits. The treatment of
9section 71.05 (1) (ap) and (aq) and (6) (b) 4. of the statutes first applies to taxable
10years beginning on January 1 of the year in which this subsection takes effect, except
11that if this subsection takes effect after July 31 the treatment of section 71.05 (1) (a0)
12and (aq) and (6) (b) 4. first applies to taxable years beginning on January 1 of the year
13following the year in which this subsection takes effect.".
AB100-SA3,30,14 1414. Page 1037, line 5: after that line insert:
AB100-SA3,30,17 15"(5gk) Combined reporting. The treatment of sections 71.25 (9) (a), 71.255,
1671.26 (3) (x) and (4), 71.29 (2), 71.44 (1) (a) and (e), 71.46 (3), 71.48, and 71.84 (2) (a)
17of the statutes first applies to taxable years beginning on January 1, 2006.".
AB100-SA3,30,18 1815. Page 1043, line 4: substitute "March" for "May".
Loading...
Loading...