LRBa2604/1
JK&MES:cjs:rs
2005 - 2006 LEGISLATURE
SENATE AMENDMENT 2,
TO SENATE SUBSTITUTE AMENDMENT 2,
TO 2005 SENATE BILL 103
March 2, 2006 - Offered by Senator
Leibham.
SB103-SSA2-SA2,2,105
71.28
(4) (ad) 3. For taxable years beginning after December 31, 2007, any
6corporation may credit against taxes otherwise due under this chapter an amount
7equal to 10 percent of the amount obtained by subtracting from the corporation's
8qualified research expenses, as defined in section
41 of the Internal Revenue Code,
9except that "qualified research expenses" includes only expenses incurred by the
10claimant for research related to the design and manufacturing of energy efficient
11lighting systems, building automation and control systems, or automotive batteries
12for use in hybrid-electric vehicles, that reduce the demand for natural gas or
1electricity or improve the efficiency of its use, incurred for research conducted in this
2state for the taxable year, except that a taxpayer may elect the alternative
3computation under section
41 (c) (4) of the Internal Revenue Code and that election
4applies until the department permits its revocation, except as provided in par. (af),
5and except that "qualified research expenses" does not include compensation used
6in computing the credit under subs. (1dj) and (1dx), the corporation's base amount,
7as defined in section
41 (c) of the Internal Revenue Code, except that gross receipts
8used in calculating the base amount means gross receipts from sales attributable to
9Wisconsin under s. 71.25 (9) (b) 1. and 2. and (d). Section
41 (h) of the Internal
10Revenue Code does not apply to the credit under this paragraph.".
SB103-SSA2-SA2,2,13
113. Page 4, line 12: delete lines 12 and 13 and substitute "under par. (ad) 1., 2.,
12or 3., or any combination of those credits, the corporation may use a different
13computation method to calculate each of the credits and may choose to change".
SB103-SSA2-SA2,3,417
71.28
(5) (ad) 3. For taxable years beginning after December 31, 2007, any
18corporation may credit against taxes otherwise due under this chapter an amount
19equal to 10 percent of the amount paid or incurred by that corporation during the
20taxable year to construct and equip new facilities or expand existing facilities used
21in this state for qualified research, as defined in section
41 of the Internal Revenue
22Code, except that "qualified research expenses" includes only expenses paid or
23incurred by the claimant for research related to the design and manufacturing of
24energy efficient lighting systems, building automation and control systems, or
1automotive batteries for use in hybrid-electric vehicles, that reduce the demand for
2natural gas or electricity or improve the efficiency of its use. Eligible amounts
3include only amounts paid or incurred for tangible, depreciable property but do not
4include amounts paid or incurred for replacement property.".
SB103-SSA2-SA2,4,28
71.47
(4) (ad) 3. For taxable years beginning after December 31, 2007, any
9corporation may credit against taxes otherwise due under this chapter an amount
10equal to 10 percent of the amount obtained by subtracting from the corporation's
11qualified research expenses, as defined in section
41 of the Internal Revenue Code,
12except that "qualified research expenses" includes only expenses incurred by the
13claimant for research related to the design and manufacturing of energy efficient
14lighting systems, building automation and control systems, or automotive batteries
15for use in hybrid-electric vehicles, that reduce the demand for natural gas or
16electricity or improve the efficiency of its use, incurred for research conducted in this
17state for the taxable year, except that a taxpayer may elect the alternative
18computation under section
41 (c) (4) of the Internal Revenue Code and that election
19applies until the department permits its revocation, except as provided in par. (af),
20and except that "qualified research expenses" does not include compensation used
21in computing the credit under subs. (1dj) and (1dx), the corporation's base amount,
22as defined in section
41 (c) of the Internal Revenue Code, except that gross receipts
23used in calculating the base amount means gross receipts from sales attributable to
1Wisconsin under s. 71.25 (9) (b) 1. and 2. and (d). Section
41 (h) of the Internal
2Revenue Code does not apply to the credit under this paragraph.".
SB103-SSA2-SA2,4,5
38. Page 9, line 11: delete lines 11 and 12 and substitute "under par. (ad) 1., 2.,
4or 3., or any combination of those credits, the corporation may use a different
5computation method to calculate each of the credits and may choose to change".
SB103-SSA2-SA2,4,209
71.47
(5) (ad) 3. For taxable years beginning after December 31, 2007, any
10corporation may credit against taxes otherwise due under this chapter an amount
11equal to 10 percent of the amount paid or incurred by that corporation during the
12taxable year to construct and equip new facilities or expand existing facilities used
13in this state for qualified research, as defined in section
41 of the Internal Revenue
14Code, except that "qualified research expenses" includes only expenses paid or
15incurred by the claimant for research related to the design and manufacturing of
16energy efficient lighting systems, building automation and control systems, or
17automotive batteries for use in hybrid-electric vehicles, that reduce the demand for
18natural gas or electricity or improve the efficiency of its use. Eligible amounts
19include only amounts paid or incurred for tangible, depreciable property but do not
20include amounts paid or incurred for replacement property.".
