SB40-SSA1,928,24
171.26
(2) (b) 14. For taxable years that begin after December 31, 1998, and
2before January 1, 2000, for a corporation, conduit or common law trust which
3qualifies as a regulated investment company, real estate mortgage investment
4conduit, real estate investment trust or financial asset securitization investment
5trust under the Internal Revenue Code as amended to December 31, 1998, excluding
6sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
713174, and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and
81605 (d) of P.L.
104-188, and as amended by P.L.
106-36, P.L.
106-170, P.L.
106-230,
9P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding
10section 431 of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections 101
, 301
11(a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-276, P.L.
108-121, excluding
12section 109 of P.L.
108-121, P.L.
108-311, excluding sections 306, 307, 308,
316, 401,
13and 403 (a) of P.L.
108-311,
and P.L.
108-357, excluding sections 101, 201,
211, 242,
14244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L. 109-135,
15excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
16(j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844
17of P.L. 109-280, and as indirectly affected in the provisions applicable to this
18subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140,
19P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104,
20and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
2113113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
22103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
23(c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
24105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
25106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
1P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-134, P.L.
107-147,
2excluding sections 101
, 301 (a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-276,
3P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-311, excluding sections
4306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311,
and P.L.
108-357, excluding
5sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
P.L.
6109-7, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S
7(a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding
8sections 811 and 844 of P.L. 109-280, "net income" means the federal regulated
9investment company taxable income, federal real estate mortgage investment
10conduit taxable income, federal real estate investment trust or financial asset
11securitization investment trust taxable income of the corporation, conduit or trust
12as determined under the Internal Revenue Code as amended to December 31, 1998,
13excluding sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171
14(d), 13174, and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311,
15and 1605 (d) of P.L.
104-188, and as amended by P.L.
106-36, P.L.
106-170, P.L.
16106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16,
17excluding section 431 of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections
18101
, 301 (a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-276, P.L.
108-121,
19excluding section 109 of P.L.
108-121, P.L.
108-311, excluding sections 306, 307, 308,
20316, 401, and 403 (a) of P.L.
108-311,
and P.L.
108-357, excluding sections 101, 201,
21211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L.
22109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
23(e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections
24811 and 844 of P.L. 109-280, and as indirectly affected in the provisions applicable
25to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
1101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
2103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
3sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
4103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
51123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
6104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
7106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
8P.L.
106-554, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-134, P.L.
9107-147, excluding sections 101
, 301 (a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
10107-276, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-311,
11excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311,
and P.L.
12108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910
13of P.L.
108-357,
P.L. 109-7, P.L. 109-135, excluding sections 101, 105, 201 (a) as it
14relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and
15P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, except that property
16that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for
17taxable years 1983 to 1986 under the Internal Revenue Code as amended to
18December 31, 1980, shall continue to be depreciated under the Internal Revenue
19Code as amended to December 31, 1980, and except that the appropriate amount
20shall be added or subtracted to reflect differences between the depreciation or
21adjusted basis for federal income tax purposes and the depreciation or adjusted basis
22under this chapter of any property disposed of during the taxable year. The Internal
23Revenue Code as amended to December 31, 1998, excluding sections 103, 104, and
24110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
25103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188,
1and as amended by P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding
2sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding section 431 of P.L.
3107-16, P.L.
107-134, P.L.
107-147, excluding sections 101
, 301 (a), and 406 of P.L.
4107-147, P.L.
107-181, P.L.
107-276, P.L.
108-121, excluding section 109 of P.L.
5108-121, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
6108-311,
and P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422,
7847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L. 109-135, excluding sections 101,
8105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
9P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and
10as indirectly affected in the provisions applicable to this subchapter by P.L.
99-514,
11P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239,
12P.L.
101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
13102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
1413174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
15104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
16(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
17105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
18106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding
19section 431 of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections 101
, 301
20(a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-276, P.L.
108-121, excluding
21section 109 of P.L.
108-121, P.L.
108-311, excluding sections 306, 307, 308,
316, 401,
22and 403 (a) of P.L.
108-311,
and P.L.
108-357, excluding sections 101, 201,
211, 242, 23244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L. 109-135,
24excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
25(j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844
1of P.L. 109-280, applies for Wisconsin purposes at the same time as for federal
2purposes. Amendments to the Internal Revenue Code enacted after December 31,
31998, do not apply to this subdivision with respect to taxable years that begin after
4December 31, 1998, and before January 1, 2000, except that changes to the Internal
5Revenue Code made by P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
6excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding section 431
7of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections 101
, 301 (a), and 406
8of P.L.
107-147, P.L.
107-181, P.L.
107-276, P.L.
108-121, excluding section 109 of
9P.L.
108-121, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a)
10of P.L.
108-311,
and P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336,
11337,
422, 847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L. 109-135, excluding
12sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
13(q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L.
14109-280, and changes that indirectly affect the provisions applicable to this
15subchapter made by P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
16excluding sections 162 and 165 of P.L.
106-554, P.L.
107-16, excluding section 431
17of P.L.
107-16, P.L.
107-134, P.L.
107-147, excluding sections 101
, 301 (a), and 406
18of P.L.
107-147, P.L.
107-181, P.L.
107-276, P.L.
108-121, excluding section 109 of
19P.L.
108-121, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a)
20of P.L.
108-311,
and P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336,
21337,
422, 847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L. 109-135, excluding
22sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
23(q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L.
24109-280, apply for Wisconsin purposes at the same time as for federal purposes.
SB40-SSA1,934,24
171.26
(2) (b) 15. For taxable years that begin after December 31, 1999, and
2before January 1, 2003, for a corporation, conduit or common law trust which
3qualifies as a regulated investment company, real estate mortgage investment
4conduit, real estate investment trust or financial asset securitization investment
5trust under the Internal Revenue Code as amended to December 31, 1999, excluding
6sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
713174, and 13203 (d) of P.L.
103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and
81605 (d) of P.L.
104-188, and as amended by P.L.
106-230, P.L.
106-554, excluding
9sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431
10of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding
11sections 101
, 301 (a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
12107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
13108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-218, P.L.
14108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311,
and 15P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and
16910 of P.L.
108-357,
P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309,
171310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L.
18109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
19(e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections
20811 and 844 of P.L. 109-280, and as indirectly affected in the provisions applicable
21to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
22101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
23103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
24sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
25103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
11123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
2104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
3106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
4P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
5107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101
, 301 (a), 6and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
7108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding
8section 109 of P.L.
108-121, P.L.
108-218, P.L.
108-311, excluding sections 306, 307,
9308,
316, 401, and 403 (a) of P.L.
108-311,
and P.L.
108-357, excluding sections 101,
10201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L.
11109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
121329, 1348, and 1351 of P.L. 109-58, P.L. 109-135, excluding sections 101, 105, 201
13(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
14109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, "net
15income" means the federal regulated investment company taxable income, federal
16real estate mortgage investment conduit taxable income, federal real estate
17investment trust or financial asset securitization investment trust taxable income
18of the corporation, conduit or trust as determined under the Internal Revenue Code
19as amended to December 31, 1999, excluding sections 103, 104, and 110 of P.L.
20102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66 21and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, and as
22amended by P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
23106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22,
24P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101
, 301 (a), and 406 of
25P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
1excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
2109 of P.L.
108-121, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
3316, 401, and 403 (a) of P.L.
108-311,
and P.L.
108-357, excluding sections 101, 201,
4211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L.
5109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
61329, 1348, and 1351 of P.L. 109-58, P.L. 109-135, excluding sections 101, 105, 201
7(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
8109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and as
9indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
10100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
11101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
12102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
1313174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
14104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
15(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
16105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
17106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16,
18excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
19107-147, excluding sections 101
, 301 (a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
20107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and
21202 of P.L.
108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-218,
22P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311,
23and P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909,
24and 910 of P.L.
108-357,
P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308,
251309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L.
1109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
2(e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections
3811 and 844 of P.L. 109-280, except that property that, under s. 71.02 (1) (c) 8. to 11.,
41985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
5Internal Revenue Code as amended to December 31, 1980, shall continue to be
6depreciated under the Internal Revenue Code as amended to December 31, 1980,
7and except that the appropriate amount shall be added or subtracted to reflect
8differences between the depreciation or adjusted basis for federal income tax
9purposes and the depreciation or adjusted basis under this chapter of any property
10disposed of during the taxable year. The Internal Revenue Code as amended to
11December 31, 1999, excluding sections 103, 104, and 110 of P.L.
102-227, sections
1213113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, and sections 1123
13(b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, and as amended by P.L.
14106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15,
15P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
16107-134, P.L.
107-147, excluding sections 101
, 301 (a), and 406 of P.L.
107-147, P.L.
17107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections
18106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section 109 of P.L.
108-121,
19P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a)
20of P.L.
108-311,
and P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336,
21337,
422, 847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L. 109-58, excluding
22sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351
23of P.L. 109-58, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
24section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L.
25109-280, excluding sections 811 and 844 of P.L. 109-280, and as indirectly affected
1in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
2100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
3102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
4102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
513203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
6104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
7104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
8105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
9excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding
10section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147,
11excluding sections 101
, 301 (a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-210,
12P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
13108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-218, P.L.
14108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311,
and 15P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and
16910 of P.L.
108-357,
P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309,
171310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L.
18109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
19(e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections
20811 and 844 of P.L. 109-280, applies for Wisconsin purposes at the same time as for
21federal purposes. Amendments to the Internal Revenue Code enacted after
22December 31, 1999, do not apply to this subdivision with respect to taxable years that
23begin after December 31, 1999, and before January 1, 2003, except that changes to
24the Internal Revenue Code made by P.L.
106-230, P.L.
106-554, excluding sections
25162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
1107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections
2101
, 301 (a), and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
3107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
4108-121, excluding section 109 of P.L.
108-121, P.L.
108-218, P.L.
108-311,
5excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311,
and P.L.
6108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910
7of P.L.
108-357,
P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310,
81323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-135,
9excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
10(j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844
11of P.L. 109-280, and changes that indirectly affect the provisions applicable to this
12subchapter made by P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
13P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
14107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101
, 301 (a), 15and 406 of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
16108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding
17section 109 of P.L.
108-121, P.L.
108-218, P.L.
108-311, excluding sections 306, 307,
18308,
316, 401, and 403 (a) of P.L.
108-311,
and P.L.
108-357, excluding sections 101,
19201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
P.L. 109-7, P.L.
20109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
211329, 1348, and 1351 of P.L. 109-58, P.L. 109-135, excluding sections 101, 105, 201
22(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
23109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, apply for
24Wisconsin purposes at the same time as for federal purposes.
SB40-SSA1,940,19
171.26
(2) (b) 16. For taxable years that begin after December 31, 2002, and
2before January 1, 2004, for a corporation, conduit, or common law trust which
3qualifies as a regulated investment company, real estate mortgage investment
4conduit, real estate investment trust, or financial asset securitization investment
5trust under the Internal Revenue Code as amended to December 31, 2002, excluding
6sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
713174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
81605 (d) of P.L.
104-188, P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
9106-573, section 431 of P.L.
107-16, and
section
sections 101
and 301 (a) of P.L.
10107-147, and as amended by P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
11108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-173, excluding
12section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding
13sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding
14sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
and 15P.L.
108-375,
P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310,
161323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-135,
17excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
18(j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections 811 and 844
19of P.L. 109-280, and as indirectly affected in the provisions applicable to this
20subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140,
21P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104,
22and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
2313113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
24103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
25(c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
1105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
2106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
3P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
4107-116, P.L.
107-134, P.L.
107-147, excluding
section
sections 101
and 301 (a) of
5P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
6excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
7109 of P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
8108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and
9403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336,
10337,
422, 847, 909, and 910 of P.L.
108-357,
and P.L.
108-375,
P.L. 109-7, P.L.
11109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
121329, 1348, and 1351 of P.L. 109-58, P.L. 109-135, excluding sections 101, 105, 201
13(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
14109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, "net
15income" means the federal regulated investment company taxable income, federal
16real estate mortgage investment conduit taxable income, federal real estate
17investment trust or financial asset securitization investment trust taxable income
18of the corporation, conduit, or trust as determined under the Internal Revenue Code
19as amended to December 31, 2002, excluding sections 103, 104, and 110 of P.L.
20102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
21sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
106-519,
22sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, and
23section sections 101
and 301 (a) of P.L.
107-147, and as amended by P.L.
108-27,
24excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
25109 of P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
1108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and
2403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336,
3337,
422, 847, 909, and 910 of P.L.
108-357,
and P.L.
108-375,
P.L. 109-7, P.L.
4109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
51329, 1348, and 1351 of P.L. 109-58, P.L. 109-135, excluding sections 101, 105, 201
6(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
7109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and as
8indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
9100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
10101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
11102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
1213174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
13104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
14(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
15105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
16106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16,
17excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
18107-147, excluding
section sections 101
and 301 (a) of P.L.
107-147, P.L.
107-181,
19P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201,
20and 202 of P.L.
108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
21108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
22108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311, P.L.
23108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910
24of P.L.
108-357,
and P.L.
108-375,
P.L. 109-7, P.L. 109-58, excluding sections 1305,
251308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58,
1P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a),
2402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding
3sections 811 and 844 of P.L. 109-280, except that property that, under s. 71.02 (1) (c)
48. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986
5under the Internal Revenue Code as amended to December 31, 1980, shall continue
6to be depreciated under the Internal Revenue Code as amended to
7December 31, 1980, and except that the appropriate amount shall be added or
8subtracted to reflect differences between the depreciation or adjusted basis for
9federal income tax purposes and the depreciation or adjusted basis under this
10chapter of any property disposed of during the taxable year. The Internal Revenue
11Code as amended to December 31, 2002, excluding sections 103, 104, and 110 of P.L.
12102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
13sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
106-519,
14sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, and
15section sections 101
and 301 (a) of P.L.
107-147, and as amended by P.L.
108-27,
16excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
17109 of P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
18108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and
19403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336,
20337,
422, 847, 909, and 910 of P.L.
108-357,
and P.L.
108-375,
P.L. 109-7, P.L.
21109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
221329, 1348, and 1351 of P.L. 109-58, P.L. 109-135, excluding sections 101, 105, 201
23(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
24109-135, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and as
25indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
1100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
2101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
3102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
413174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
5104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
6(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
7105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
8106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16,
9excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
10107-147, excluding
section sections 101
and 301 (a) of P.L.
107-147, P.L.
107-181,
11P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201,
12and 202 of P.L.
108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
13108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
14108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311, P.L.
15108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910
16of P.L.
108-357,
and P.L.
108-375,
P.L. 109-7, P.L. 109-58, excluding sections 1305,
171308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58,
18P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a),
19402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding
20sections 811 and 844 of P.L. 109-280, applies for Wisconsin purposes at the same time
21as for federal purposes. Amendments to the Internal Revenue Code enacted after
22December 31, 2002, do not apply to this subdivision with respect to taxable years that
23begin after December 31, 2002, and before January 1, 2004, except that changes to
24the Internal Revenue Code made by P.L.
108-27, excluding sections 106, 201, and
25202 of P.L.
108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-173,
1excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
2excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
3excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
4108-357,
and P.L.
108-375,
P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308,
51309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L.
6109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
7(e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections
8811 and 844 of P.L. 109-280, and changes that indirectly affect the provisions
9applicable to this subchapter made by P.L.
108-27, excluding sections 106, 201, and
10202 of P.L.
108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-173,
11excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
12excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
13excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
14108-357,
and P.L.
108-375,
P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308,
151309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L.
16109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
17(e), 403 (e), (j), and (q), and 405 of P.L. 109-135, and P.L. 109-280, excluding sections
18811 and 844 of P.L. 109-280, apply for Wisconsin purposes at the same time as for
19federal purposes.
SB40-SSA1,946,1421
71.26
(2) (b) 17. For taxable years that begin after December 31, 2003, and
22before January 1, 2005, for a corporation, conduit, or common law trust which
23qualifies as a regulated investment company, real estate mortgage investment
24conduit, real estate investment trust, or financial asset securitization investment
25trust under the Internal Revenue Code as amended to December 31, 2003, excluding
1sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
213174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
31605 (d) of P.L.
104-188, P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
4106-573, section 431 of P.L.
107-16,
section sections 101
and 301 (a) of P.L.
107-147,
5sections 106, 201, and 202 of P.L.
108-27, section 109 of P.L.
108-121, and section
61201 of P.L.
108-173, and as amended by P.L.
108-203, P.L.
108-218, P.L.
108-311,
7excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
8excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
9108-357, P.L.
108-375,
and P.L.
108-476,
P.L. 109-7, P.L. 109-58, excluding sections
101305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
11109-58, P.L. 109-73, excluding section 301 of P.L. 109-73, P.L. 109-135, excluding
12sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
13(q), and 405 of P.L. 109-135, P.L. 109-227, and P.L. 109-280, excluding sections 811
14and 844 of P.L. 109-280, and as indirectly affected in the provisions applicable to this
15subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140,
16P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104,
17and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
1813113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
19103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
20(c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
21105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
22106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
23P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
24107-116, P.L.
107-134, P.L.
107-147, excluding
section
sections 101
and 301 (a) of
25P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
1excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
2109 of P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
3108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and
4403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336,
5337,
422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
and P.L.
108-476,
P.L.
6109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
71326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301
8of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
9section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-227,
10and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, "net income"
11means the federal regulated investment company taxable income, federal real estate
12mortgage investment conduit taxable income, federal real estate investment trust
13or financial asset securitization investment trust taxable income of the corporation,
14conduit, or trust as determined under the Internal Revenue Code as amended to
15December 31, 2003, excluding sections 103, 104, and 110 of P.L.
102-227, sections
1613113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b),
171202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
106-519, sections 162 and
18165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16,
section sections 101
and
19301 (a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 109 of P.L.
20108-121, and section 1201 of P.L.
108-173, and as amended by P.L.
108-203, P.L.
21108-218, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
22108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 23909, and 910 of P.L.
108-357, P.L.
108-375,
and P.L.
108-476,
P.L. 109-7, P.L.
24109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
251329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301 of P.L.
1109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section
21400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-227, and P.L.
3109-280, excluding sections 811 and 844 of P.L. 109-280, and as indirectly affected
4in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
5100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
6102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
7102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
813203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
9104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
10104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
11105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
12excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding
13section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147,
14excluding
section sections 101
and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
15107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and
16202 of P.L.
108-27, P.L.
108-121, excluding section 109 of P.L.
108-121, P.L.
108-173,
17excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
18excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
19excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
20108-357, P.L.
108-375,
and P.L.
108-476,
P.L. 109-7, P.L. 109-58, excluding sections
211305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
22109-58, P.L. 109-73, excluding section 301 of P.L. 109-73, P.L. 109-135, excluding
23sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
24(q), and 405 of P.L. 109-135, P.L. 109-227, and P.L. 109-280, excluding sections 811
25and 844 of P.L. 109-280, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985
1stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal
2Revenue Code as amended to December 31, 1980, shall continue to be depreciated
3under the Internal Revenue Code as amended to December 31, 1980, and except that
4the appropriate amount shall be added or subtracted to reflect differences between
5the depreciation or adjusted basis for federal income tax purposes and the
6depreciation or adjusted basis under this chapter of any property disposed of during
7the taxable year. The Internal Revenue Code as amended to December 31, 2003,
8excluding sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171
9(d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
101605 (d) of P.L.
104-188, P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
11106-573, section 431 of P.L.
107-16,
section sections 101
and 301 (a) of P.L.
107-147,
12sections 106, 201, and 202 of P.L.
108-27, section 109 of P.L.
108-121, and section
131201 of P.L.
108-173, and as amended by P.L.
108-203, P.L.
108-218, P.L.
108-311,
14excluding sections 306, 307, 308,
316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
15excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
16108-357, P.L.
108-375,
and P.L.
108-476,
P.L. 109-7, P.L. 109-58, excluding sections
171305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
18109-58, P.L. 109-73, excluding section 301 of P.L. 109-73, P.L. 109-135, excluding
19sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
20(q), and 405 of P.L. 109-135, P.L. 109-227, and P.L. 109-280, excluding sections 811
21and 844 of P.L. 109-280, and as indirectly affected in the provisions applicable to this
22subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140,
23P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104,
24and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
2513113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
1103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
2(c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
3105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
4106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
5P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
6107-116, P.L.
107-134, P.L.
107-147, excluding
section
sections 101
and 301 (a) of
7P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
8excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, excluding section
9109 of P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
10108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and
11403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336,
12337,
422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
and P.L.
108-476,
P.L.
13109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
141326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301
15of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
16section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-227,
17and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, applies for
18Wisconsin purposes at the same time as for federal purposes. Amendments to the
19Internal Revenue Code enacted after December 31, 2003, do not apply to this
20subdivision with respect to taxable years that begin after December 31, 2003, and
21before January 1, 2005, except that changes to the Internal Revenue Code made by
22P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
316, 401,
23and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 244,
24336, 337,
422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
and P.L.
108-476,
P.L.
25109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
11326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301
2of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
3section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-227,
4and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and changes that
5indirectly affect the provisions applicable to this subchapter made by P.L.
108-203,
6P.L.
108-218, P.L.
108-311, excluding sections 306, 307, 308,
316, 401, and 403 (a)
7of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
8422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
and P.L.
108-476,
P.L. 109-7,
9P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
101329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301 of P.L.
11109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section
121400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-227, and P.L.
13109-280, excluding sections 811 and 844 of P.L. 109-280, apply for Wisconsin
14purposes at the same time as for federal purposes.
SB40-SSA1,952,616
71.26
(2) (b) 18. For taxable years that begin after December 31, 2004,
and
17before January 1, 2006, for a corporation, conduit, or common law trust which
18qualifies as a regulated investment company, real estate mortgage investment
19conduit, real estate investment trust, or financial asset securitization investment
20trust under the Internal Revenue Code as amended to December 31, 2004, excluding
21sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
2213174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
231605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
24of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16,
section sections 101
and 301
25(a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
1108-173, sections 306, 308,
316, 401, and 403 (a) of P.L.
108-311, and sections 101,
2201,
211, 242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
and as amended
3by P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324,
41325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section
5301 of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
6section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-151,
7P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L. 109-222, P.L.
8109-227, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and as
9indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
10100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
11101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
12102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
1313174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
14104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
15(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
16105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
17106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16,
18excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
19107-147, excluding
section sections 101
and 301 (a) of P.L.
107-147, P.L.
107-181,
20P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201,
21and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
22108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 308,
316, 23401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 24244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
and P.L.
108-476,
25P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
11326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301
2of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
3section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-151,
4P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L. 109-222, P.L.
5109-227, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, "net
6income" means the federal regulated investment company taxable income, federal
7real estate mortgage investment conduit taxable income, federal real estate
8investment trust or financial asset securitization investment trust taxable income
9of the corporation, conduit, or trust as determined under the Internal Revenue Code
10as amended to December 31, 2004, excluding sections 103, 104, and 110 of P.L.
11102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
12sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3,
134, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section
14431 of P.L.
107-16,
section sections 101
and 301 (a) of P.L.
107-147, sections 106, 201,
15and 202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308,
316, 401, and
16403 (a) of P.L.
108-311, and sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 909,
17and 910 of P.L.
108-357,
and as amended by P.L. 109-7, P.L. 109-58, excluding
18sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351
19of P.L. 109-58, P.L. 109-73, excluding section 301 of P.L. 109-73, P.L. 109-135,
20excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
21(j), and (q), and 405 of P.L. 109-135, P.L. 109-151, P.L. 109-222, excluding sections
22101, 207, 209, 503, 512, and 513 of P.L. 109-222, P.L. 109-227, and P.L. 109-280,
23excluding sections 811 and 844 of P.L. 109-280, and as indirectly affected in the
24provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647,
25P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
1excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
2103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
3103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188,
4excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
5104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
6105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections
7162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
8107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding
section 9sections 101
and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276,
10P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
11108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
12108-218, P.L.
108-311, excluding sections 306, 308,
316, 401, and 403 (a) of P.L.
13108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 244, 336, 337,
422, 847, 14909, and 910 of P.L.
108-357, P.L.
108-375,
and P.L.
108-476,
P.L. 109-7, P.L.
15109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
161329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301 of P.L.
17109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section
181400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-151, P.L.
19109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L. 109-222, P.L.
20109-227, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, except
21that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be
22depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as
23amended to December 31, 1980, shall continue to be depreciated under the Internal
24Revenue Code as amended to December 31, 1980, and except that the appropriate
25amount shall be added or subtracted to reflect differences between the depreciation
1or adjusted basis for federal income tax purposes and the depreciation or adjusted
2basis under this chapter of any property disposed of during the taxable year. The
3Internal Revenue Code as amended to December 31, 2004, excluding sections 103,
4104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203
5(d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
6104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554,
7P.L.
106-573, section 431 of P.L.
107-16,
section
sections 101
and 301 (a) of P.L.
8107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173,
9sections 306, 308,
316, 401, and 403 (a) of P.L.
108-311, and sections 101, 201,
211,
10242, 244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357,
and as amended by P.L.
11109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
121326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301
13of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
14section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-151,
15P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L. 109-222, P.L.
16109-227, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and as
17indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
18100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
19101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
20102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
2113174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
22104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
23(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
24105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
25106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16,
1excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
2107-147, excluding
section sections 101
and 301 (a) of P.L.
107-147, P.L.
107-181,
3P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201,
4and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
5108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 308,
316, 6401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201,
211, 242, 7244, 336, 337,
422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
and P.L.
108-476,
8P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
91326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301
10of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
11section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-151,
12P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L. 109-222, P.L.
13109-227, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, applies
14for Wisconsin purposes at the same time as for federal purposes. Amendments to the
15Internal Revenue Code enacted after December 31, 2004, do not apply to this
16subdivision with respect to taxable years that begin after December 31, 2004
, and
17before January 1, 2006, except that changes to the Internal Revenue Code made by
18P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
191326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301
20of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
21section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-151,
22P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L. 109-222, P.L.
23109-227, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, and
24changes that indirectly affect the provisions applicable to this subchapter made by
25P.L. 109-7, P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
11326, 1328, 1329, 1348, and 1351 of P.L. 109-58, P.L. 109-73, excluding section 301
2of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to
3section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L. 109-151,
4P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L. 109-222, P.L.
5109-227, and P.L. 109-280, excluding sections 811 and 844 of P.L. 109-280, apply for
6Wisconsin purposes at the same time as for federal purposes.
SB40-SSA1,957,158
71.26
(2) (b) 19. For taxable years that begin after December 31, 2005, and
9before January 1, 2007, for a corporation, conduit, or common law trust which
10qualifies as a regulated investment company, real estate mortgage investment
11conduit, real estate investment trust, or financial asset securitization investment
12trust under the Internal Revenue Code as amended to December 31, 2005, excluding
13sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
1413174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
151605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
16of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of
17P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173,
18sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 201, 211, 242,
19244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308,
201309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58,
21section 11146 of P.L.
109-59, section 301 of P.L.
109-73, and sections 101, 105, 201
22(a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
23109-135, and as amended by P.L.
109-222, excluding sections 101, 207, 209, 503,
24512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
109-280, excluding sections 811
25and 844 of P.L.
109-280, and as indirectly affected in the provisions applicable to this
1subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140,
2P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104,
3and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
413113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
5103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
6(c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
7105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
8106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554,
9P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
10107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
11107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
12excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173,
13excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
14excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
15excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
16108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections
171305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
18109-58, P.L.
109-59, excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding
19section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
20relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
21109-151, P.L.
109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
22109-222, P.L.
109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
23109-280, "net income" means the federal regulated investment company taxable
24income, federal real estate mortgage investment conduit taxable income, federal real
25estate investment trust or financial asset securitization investment trust taxable
1income of the corporation, conduit, or trust as determined under the Internal
2Revenue Code as amended to December 31, 2005, excluding sections 103, 104, and
3110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
4103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188,
5sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
6106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147, sections
7106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 316,
8401, and 403 (a) of P.L.
108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847,
9909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324,
101325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59,
11section 301 of P.L.
109-73, and sections 101, 105, 201 (a) as it relates to section 1400S
12(a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, and as amended by P.L.
13109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
14109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280, and as
15indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
16100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
17101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
18102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
1913174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
20104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
21(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
22105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
23106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16,
24excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
25107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
1107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and
2202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
3108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 308, 316,
4401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 211, 242,
5244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
6109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
71326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146
8of P.L.
109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135,
9excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
10(j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections
11101, 207, 209, 503, 512, and 513 of P.L.
109-222, 109-227, P.L.
109-227, and P.L.
12109-280, excluding sections 811 and 844 of P.L.
109-280, except that property that,
13under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable
14years 1983 to 1986 under the Internal Revenue Code as amended to
15December 31, 1980, shall continue to be depreciated under the Internal Revenue
16Code as amended to December 31, 1980, and except that the appropriate amount
17shall be added or subtracted to reflect differences between the depreciation or
18adjusted basis for federal income tax purposes and the depreciation or adjusted basis
19under this chapter of any property disposed of during the taxable year. The Internal
20Revenue Code as amended to December 31, 2005, excluding sections 103, 104, and
21110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
22103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188,
23sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
24106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147, sections
25106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 316,
1401, and 403 (a) of P.L.
108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847,
2909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324,
31325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59,
4section 301 of P.L.
109-73, and sections 101, 105, 201 (a) as it relates to section 1400S
5(a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, and as amended by P.L.
6109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
7109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280, and as
8indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
9100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
10101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
11102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
1213174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
13104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
14(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
15105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
16106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16,
17excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
18107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
19107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and
20202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
21108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 308, 316,
22401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 211, 242,
23244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
24109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
251326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146
1of P.L.
109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135,
2excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
3(j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections
4101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
109-280,
5excluding sections 811 and 844 of P.L.
109-280, applies for Wisconsin purposes at the
6same time as for federal purposes. Amendments to the Internal Revenue Code
7enacted after December 31, 2005, do not apply to this subdivision with respect to
8taxable years that begin after December 31, 2005, and before January 1, 2007,
9except that changes to the Internal Revenue Code made by P.L.
109-222, excluding
10sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
11109-280, excluding sections 811 and 844 of P.L.
109-280, and changes that indirectly
12affect the provisions applicable to this subchapter made by P.L.
109-222, excluding
13sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
14109-280, excluding sections 811 and 844 of P.L.
109-280, apply for Wisconsin
15purposes at the same time as for federal purposes.
SB40-SSA1,962,1417
71.26
(2) (b) 20. For taxable years that begin after December 31, 2006, for a
18corporation, conduit, or common law trust which qualifies as a regulated investment
19company, real estate mortgage investment conduit, real estate investment trust, or
20financial asset securitization investment trust under the Internal Revenue Code as
21amended to December 31, 2006, excluding sections 103, 104, and 110 of P.L.
102-227,
22sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, sections
231123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3, 4, and
245 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of
25P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and 202 of
1P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403 (a) of
2P.L.
108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
3108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
41329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section 301 of P.L.
5109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
6(j), and (q), and 405 of P.L.
109-135, sections 101, 207, 209, 503, 512, and 513 of P.L.
7109-222, sections 811 and 844 of P.L.
109-280, and P.L.
109-432, and as indirectly
8affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
9P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508,
10P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
11102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
1213203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
13104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
14104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
15105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
16excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding
17section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147,
18excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
19107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
20108-27, P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
21108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 308, 316, 401, and 403
22(a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 201, 211, 242, 244, 336, 337,
23422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
24109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
251329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146 of P.L.
1109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135, excluding
2sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
3(q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections 101, 207,
4209, 503, 512, and 513 of P.L.
109-222, P.L.
109-227, and P.L.
109-280, excluding
5sections 811 and 844 of P.L.
109-280, "net income" means the federal regulated
6investment company taxable income, federal real estate mortgage investment
7conduit taxable income, federal real estate investment trust or financial asset
8securitization investment trust taxable income of the corporation, conduit, or trust
9as determined under the Internal Revenue Code as amended to December 31, 2006,
10excluding sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171
11(d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
121605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
13of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of
14P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173,
15sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 201, 211, 242,
16244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308,
171309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58,
18section 11146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as
19it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135,
20sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, sections 811 and 844 of P.L.
21109-280, and P.L.
109-432, and as indirectly affected in the provisions applicable to
22this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
23101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
24103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
25sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
1103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
21123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
3104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
4106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
5P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
6107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a)
7of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
8excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173,
9excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
10excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
11excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
12108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections
131305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
14109-58, P.L.
109-59, excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding
15section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
16relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
17109-151, P.L.
109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
18109-222, P.L.
109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
19109-280, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is
20required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue
21Code as amended to December 31, 1980, shall continue to be depreciated under the
22Internal Revenue Code as amended to December 31, 1980, and except that the
23appropriate amount shall be added or subtracted to reflect differences between the
24depreciation or adjusted basis for federal income tax purposes and the depreciation
25or adjusted basis under this chapter of any property disposed of during the taxable
1year. The Internal Revenue Code as amended to December 31, 2006, excluding
2sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
313174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
41605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
5of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of
6P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173,
7sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 201, 211, 242,
8244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308,
91309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58,
10section 11146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as
11it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135,
12sections 101, 207, 209, 503, 512, and 513 of P.L.
109-222, sections 811 and 844 of P.L.
13109-280, and P.L.
109-432, and as indirectly affected in the provisions applicable to
14this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
15101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
16103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
17sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
18103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
191123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
20104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
21106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
22P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
23107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a)
24of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
25excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173,
1excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
2excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
3excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
4108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections
51305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
6109-58, P.L.
109-59, excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding
7section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
8relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
9109-151, P.L.
109-222, excluding sections 101, 207, 209, 503, 512, and 513 of P.L.
10109-222, 109-227, and P.L.
109-280, excluding sections 811 and 844 of P.L.
109-280,
11applies for Wisconsin purposes at the same time as for federal purposes.
12Amendments to the Internal Revenue Code enacted after December 31, 2006, do not
13apply to this subdivision with respect to taxable years that begin after
14December 31, 2006.
SB40-SSA1,962,1816
71.26
(3) (s) Sections 951 to 964 (relating to controlled foreign corporations) are
17excluded
, and, for taxable years beginning on or after January 1, 2006, sections 951
18to 965 (relating to controlled foreign corporations) are excluded.
SB40-SSA1,963,720
71.28
(1dx) (a) 5. "Member of a targeted group" means a person who resides
21in an area designated by the federal government as an economic revitalization area,
22a person who is employed in an unsubsidized job but meets the eligibility
23requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position,
24a person who is employed in a trial job, as defined in s. 49.141 (1) (n),
or in a real work,
25real pay project position under s. 49.147 (3m), a person who is eligible for child care
1assistance under s. 49.155, a person who is a vocational rehabilitation referral, an
2economically disadvantaged youth, an economically disadvantaged veteran, a
3supplemental security income recipient, a general assistance recipient, an
4economically disadvantaged ex-convict, a qualified summer youth employee, as
5defined in
26 USC 51 (d) (7), a dislocated worker, as defined in
29 USC 2801 (9), or
6a food stamp recipient, if the person has been certified in the manner under sub. (1dj)
7(am) 3. by a designated local agency, as defined in sub. (1dj) (am) 2.
SB40-SSA1,963,139
71.28
(1dx) (b) 2. The amount determined by multiplying the amount
10determined under s. 560.785 (1) (b) by the number of full-time jobs created in a
11development zone and filled by a member of a targeted group and by then subtracting
12the subsidies paid under s. 49.147 (3) (a)
or the subsidies and reimbursements paid
13under s. 49.147 (3m) (c) for those jobs.
SB40-SSA1,963,1915
71.28
(1dx) (b) 3. The amount determined by multiplying the amount
16determined under s. 560.785 (1) (c) by the number of full-time jobs created in a
17development zone and not filled by a member of a targeted group and by then
18subtracting the subsidies paid under s. 49.147 (3) (a)
or the subsidies and
19reimbursements paid under s. 49.147 (3m) (c) for those jobs.
SB40-SSA1,964,221
71.28
(1dx) (b) 4. The amount determined by multiplying the amount
22determined under s. 560.785 (1) (bm) by the number of full-time jobs retained, as
23provided in the rules under s. 560.785, excluding jobs for which a credit has been
24claimed under sub. (1dj), in an enterprise development zone under s. 560.797 and for
25which significant capital investment was made and by then subtracting the
1subsidies paid under s. 49.147 (3) (a)
or the subsidies and reimbursements paid
2under s. 49.147 (3m) (c) for those jobs.
SB40-SSA1,964,94
71.28
(1dx) (b) 5. The amount determined by multiplying the amount
5determined under s. 560.785 (1) (c) by the number of full-time jobs retained, as
6provided in the rules under s. 560.785, excluding jobs for which a credit has been
7claimed under sub. (1dj), in a development zone and not filled by a member of a
8targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a)
or
9the subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.
SB40-SSA1,964,1211
71.28
(3p) Dairy manufacturing facility investment credit. (a)
Definitions.
12In this subsection:
SB40-SSA1,964,1313
1. "Claimant" means a person who files a claim under this subsection.
SB40-SSA1,964,1514
2. "Dairy manufacturing" means processing milk into dairy products or
15processing dairy products for sale commercially.
SB40-SSA1,964,2016
3. "Dairy manufacturing modernization or expansion" means constructing,
17improving, or acquiring buildings or facilities, or acquiring equipment, for dairy
18manufacturing, including the following, if used exclusively for dairy manufacturing
19and if acquired and placed in service in this state during taxable years that begin
20after December 31, 2006, and before January 1, 2015:
SB40-SSA1,964,2121
a. Building construction, including storage and warehouse facilities.
SB40-SSA1,964,2222
b. Building additions.
SB40-SSA1,964,2323
c. Upgrades to utilities, including water, electric, heat, and waste facilities.
SB40-SSA1,964,2424
d. Milk intake and storage equipment.
SB40-SSA1,965,3
1e. Processing and manufacturing equipment, including pipes, motors, pumps,
2valves, pasteurizers, homogenizers, vats, evaporators, dryers, concentrators, and
3churns.
SB40-SSA1,965,54
f. Packaging and handling equipment, including sealing, bagging, boxing,
5labeling, conveying, and product movement equipment.
SB40-SSA1,965,66
g. Warehouse equipment, including storage racks.
SB40-SSA1,965,97
h. Waste treatment and waste management equipment, including tanks,
8blowers, separators, dryers, digesters, and equipment that uses waste to produce
9energy, fuel, or industrial products.
SB40-SSA1,965,1210
i. Computer software and hardware used for managing the claimant's dairy
11manufacturing operation, including software and hardware related to logistics,
12inventory management, and production plant controls.
SB40-SSA1,965,1413
4. "Used exclusively" means used to the exclusion of all other uses except for
14use not exceeding 5 percent of total use.
SB40-SSA1,965,2015
(b)
Filing claims. Subject to the limitations provided in this subsection, for
16taxable years beginning after December 31, 2006, and before January 1, 2015, a
17claimant may claim as a credit against the taxes imposed under s. 71.23, up to the
18amount of the tax, an amount equal to 10 percent of the amount the claimant paid
19in the taxable year for dairy manufacturing modernization or expansion related to
20the claimant's dairy manufacturing operation.
SB40-SSA1,965,2321
(c)
Limitations. 1. No credit may be allowed under this subsection for any
22amount that the claimant paid for expenses described under par. (b) that the
23claimant also claimed as a deduction under section
162 of the Internal Revenue Code.
SB40-SSA1,965,2524
2. The aggregate amount of credits that a claimant may claim under this
25subsection is $200,000.
SB40-SSA1,966,9
13. Partnerships, limited liability companies, and tax-option corporations may
2not claim the credit under this subsection, but the eligibility for, and the amount of,
3the credit are based on their payment of expenses under par. (b), except that the
4aggregate amount of credits that the entity may compute shall not exceed $200,000.
5A partnership, limited liability company, or tax-option corporation shall compute
6the amount of credit that each of its partners, members, or shareholders may claim
7and shall provide that information to each of them. Partners, members of limited
8liability companies, and shareholders of tax-option corporations may claim the
9credit in proportion to their ownership interest.
SB40-SSA1,966,1310
4. If 2 or more persons own and operate the dairy manufacturing operation,
11each person may claim a credit under par. (b) in proportion to his or her ownership
12interest, except that the aggregate amount of the credits claimed by all persons who
13own and operate the dairy manufacturing operation shall not exceed $200,000.
SB40-SSA1,966,1514
(d)
Administration. Subsection (4) (e) to (h), as it applies to the credit under
15sub. (4), applies to the credit under this subsection.
SB40-SSA1,966,1817
71.28
(3w) (a) 5m. "Wages" means wages under section
3306 (b) of the Internal
18Revenue Code, determined without regard to any dollar limitations.
SB40-SSA1,966,2420
71.28
(3w) (a) 6. "Zone payroll" means the amount of state payroll that is
21attributable to
compensation wages paid to
individuals full-time employees for
22services that are performed in
a an enterprise zone. "Zone payroll" does not include
23the amount of
compensation wages paid to any
individuals full-time employees that
24exceeds $100,000.
SB40-SSA1, s. 2042
25Section
2042. 71.28 (3w) (b) 1. a. of the statutes is amended to read:
SB40-SSA1,967,6
171.28
(3w) (b) 1. a. The
claimant's zone payroll in the taxable year, minus the
2claimant's zone payroll number of full-time employees whose annual wages are
3greater than $30,000 and who the claimant employed in the enterprise zone in the
4taxable year, minus the number of full-time employees whose annual wages were
5greater than $30,000 and who the claimant employed in the area that comprises the
6enterprise zone in the base year.
SB40-SSA1, s. 2043
7Section
2043. 71.28 (3w) (b) 1. b. of the statutes is amended to read:
SB40-SSA1,967,128
71.28
(3w) (b) 1. b. The
claimant's state payroll in the taxable year, minus the
9claimant's state payroll number of full-time employees whose annual wages are
10greater than $30,000 and who the claimant employed in the state in the taxable year,
11minus the number of full-time employees whose annual wages were greater than
12$30,000 and who the claimant employed in the state in the base year.
SB40-SSA1,967,1914
71.28
(3w) (b) 2.
Subtract the number of Determine the claimant's average
15zone payroll by dividing total wages for full-time employees
that whose annual
16wages are greater than $30,000 and who the claimant employed in
the area that
17comprises the enterprise zone in the
base taxable year
from by the number of
18full-time employees
that whose annual wages are greater than $30,000 and who the
19claimant employed in the enterprise zone in the taxable year.
SB40-SSA1,967,2221
71.28
(3w) (b) 3.
Multiply Subtract $30,000 from the amount determined under
22subd. 2.
, but not an amount less than zero, by $30,000.
SB40-SSA1,967,2524
71.28
(3w) (b) 4.
Subtract Multiply the amount determined under subd. 3.
from 25by the amount determined under subd. 1.
SB40-SSA1, s. 2047
1Section
2047. 71.28 (3w) (bm) (intro.) and 4. of the statutes are consolidated,
2renumbered 71.28 (3w) (bm) and amended to read:
SB40-SSA1,968,123
71.28
(3w) (bm)
Filing supplemental claims. In addition to the credit under
4par. (b) and subject to the limitations provided in this subsection and s. 560.799, a
5claimant may claim as a credit against the tax imposed under s. 71.23 an amount
6equal to
all of the following: 4. The the amount the claimant paid in the taxable year
7to upgrade or improve the
job-related skills of any of the claimant's full-time
8employees, to train any of the claimant's full-time employees on the use of
9job-related new technologies, or to
train provide job-related training to any
10full-time employee whose employment with the claimant represents the employee's
11first full-time job. This subdivision does not apply to employees who do not work in
12 a an enterprise zone.
SB40-SSA1,968,1815
71.28
(3w) (d)
Administration. Subsection (4) (g) and (h), as it applies to the
16credit under sub. (4), applies to the credit under this subsection.
Claimants shall
17include with their returns a copy of their certification for tax benefits, and a copy of
18the verification of their expenses, from the department of commerce.
SB40-SSA1,968,2220
71.28
(5b) (c) 1.
The Except as provided in s. 73.03 (63), the maximum amount
21of the credits that may be claimed under this subsection and ss. 71.07 (5b) and 71.47
22(5b) for all taxable years combined is
$35,000,000
$52,500,000.
SB40-SSA1, s. 2051
23Section
2051. 71.28 (5b) (d) of the statutes is renumbered 71.28 (5b) (d) 1.
SB40-SSA1,969,6
171.28
(5b) (d) 2. The Wisconsin adjusted basis of any investment for which a
2credit is claimed under par. (b) shall be reduced by the amount of the credit that is
3offset against Wisconsin income taxes. The Wisconsin basis of a partner's interest
4in a partnership, a member's interest in a limited liability company, or stock in a
5tax-option corporation shall be adjusted to reflect adjustments made under this
6subdivision.
SB40-SSA1,969,158
71.28
(5e) (b)
Filing claims. Subject to the limitations provided in this
9subsection and subject to
2005 Wisconsin Act 479, section
17, beginning in the first
10taxable year following the taxable year in which the claimant claims
an exemption 11a deduction under s.
77.54 (48)
77.585 (9), a claimant may claim as a credit against
12the taxes imposed under s. 71.23, up to the amount of those taxes, in each taxable
13year for 2 years, the amount certified by the department of commerce that
resulted
14from the claimant
claimed as an exemption claiming a deduction under s.
77.54 (48) 1577.585 (9).
SB40-SSA1,969,1817
71.28
(5e) (c) 1. No credit may be allowed under this subsection unless the
18claimant satisfies the requirements under s.
77.54 (48) 77.585 (9).
SB40-SSA1,969,2320
71.28
(5e) (c) 3. The total amount of the credits and
exemptions the sales and
21use tax resulting from the deductions claimed under s. 77.585 (9) that may be claimed
22by all claimants under this subsection and ss. 71.07 (5e), 71.47 (5e), and
77.54 (48) 2377.585 (9) is $7,500,000, as determined by the department of commerce.
SB40-SSA1,970,8
171.28
(5h) (a) 4. "Previously owned property" means real property that the
2claimant or a related person owned during the 2 years prior to doing business in this
3state as a film production company and for which the claimant may not deduct a loss
4from the sale of the property to, or an exchange of the property with, the related
5person under section
267 of the Internal Revenue Code
, except that section 267 of the
6Internal Revenue Code is modified so that if the claimant owns any part of the
7property, rather than 50 percent ownership, the claimant is subject to section 267 of
8the Internal Revenue Code for purposes of this subsection.
SB40-SSA1,970,1410
71.28
(5h) (c) 2. A claimant may claim the credit under par. (b) 2. for an amount
11expended to construct, rehabilitate, remodel, or repair real property, if the claimant
12began the physical work of construction, rehabilitation, remodeling, or repair, or any
13demolition or destruction in preparation for the physical work, after December 31,
142007,
or if and the completed project is placed in service after December 31, 2007.
SB40-SSA1,970,1916
71.28
(5h) (c) 3. A claimant may claim the credit under par. (b) 2. for an amount
17expended to acquire real property, if the property is not previously owned property
18and if the claimant acquires the property after December 31, 2007,
or if and the
19completed project is placed in service after December 31, 2007.
SB40-SSA1,970,2221
71.28
(5i) Electronic medical records credit. (a)
Definitions. In this
22subsection, "claimant" means a person who files a claim under this subsection.
SB40-SSA1,971,423
(b)
Filing claims. Subject to the limitations provided in this subsection, for
24taxable years beginning after December 31, 2008, a claimant may claim as a credit
25against the taxes imposed under s. 71.23, up to the amount of those taxes, an amount
1equal to 50 percent of the amount the claimant paid in the taxable year for
2information technology hardware or software that is used to maintain medical
3records in electronic form, if the claimant is a health care provider, as defined in s.
4146.81 (1).
SB40-SSA1,971,75
(c)
Limitations. 1. The maximum amount of the credits that may be claimed
6under this subsection and ss. 71.07 (5i) and 71.47 (5i) in a taxable year is
7$10,000,000, as allocated under s. 560.204.
