AB40-ASA1,1311 19Section 1311. 71.05 (25) (b) (intro.) of the statutes is renumbered 71.05 (25)
20(b) and amended to read:
AB40-ASA1,713,221 71.05 (25) (b) For taxable years beginning after December 31, 2015, for a
22Wisconsin capital asset that is purchased
an investment in a qualified Wisconsin
23business made
after December 31, 2010, and held for at least 5 uninterrupted years,
24a claimant may subtract from federal adjusted gross income the lesser of one of the

1following amounts
amount of the claimant's qualifying gain in the year to which the
2claim relates
, to the extent that it is not subtracted under sub. (6) (b) 9. or 9m.:
AB40-ASA1,1312 3Section 1312. 71.05 (25) (b) 1. of the statutes is repealed.
AB40-ASA1,1313 4Section 1313. 71.05 (25) (b) 2. of the statutes is repealed.
AB40-ASA1,1314 5Section 1314. 71.05 (26) (title) of the statutes is amended to read:
AB40-ASA1,713,76 71.05 (26) (title) Income tax deferral; long-term Wisconsin capital assets
7qualified Wisconsin business.
AB40-ASA1,1315 8Section 1315. 71.05 (26) (a) 4. of the statutes is amended to read:
AB40-ASA1,713,119 71.05 (26) (a) 4. "Qualified Wisconsin business" means a business certified by
10the Wisconsin Economic Development Corporation under s. 238.146, 2011 stats., or
11registered with the department under s. 73.03 (69)
.
AB40-ASA1,1316 12Section 1316. 71.05 (26) (b) (intro.) of the statutes is amended to read:
AB40-ASA1,713,1513 71.05 (26) (b) (intro.) For taxable years beginning after December 31, 2010, and
14before January 1, 2014,
a claimant may subtract from federal adjusted gross income
15any amount of a long-term capital gain if the claimant does all of the following:
AB40-ASA1,1317 16Section 1317. 71.05 (26) (bm) of the statutes is created to read:
AB40-ASA1,713,1917 71.05 (26) (bm) For taxable years beginning after December 31, 2013, a
18claimant may subtract from federal adjusted gross income any amount of a
19long-term capital gain if the claimant does all of the following:
AB40-ASA1,713,2120 1. Within 180 days after the sale of the asset that generated the gain, invests
21all of the gain in a qualified Wisconsin business.
AB40-ASA1,714,222 2. After making the investment as described under subd. 1., notifies the
23department, on a form prepared by the department, that the claimant will not
24declare the gain on the claimant's income tax return because the claimant has
25reinvested the capital gain as described under subd. 1. The form shall be sent to the

1department along with the claimant's income tax return for the year to which the
2claim relates.
AB40-ASA1,1318 3Section 1318. 71.05 (26) (c) of the statutes is amended to read:
AB40-ASA1,714,84 71.05 (26) (c) The basis of the investment described in par. (b) 2. shall be
5calculated by subtracting the gain described in par. (b) 1. from the amount of the
6investment described in par. (b) 2. The basis of the investment described in par. (bm)
71. shall be calculated by subtracting the gain described in par. (bm) 1. from the
8amount of the investment described in par. (bm) 1.
AB40-ASA1,1319 9Section 1319. 71.05 (26) (d) of the statutes is amended to read:
AB40-ASA1,714,1210 71.05 (26) (d) If a claimant defers the payment of income taxes on a capital gain
11under this subsection, the claimant may not use the gain described under par. (b) 1.
12to net capital gains and losses, as described under sub. (10) (c).
AB40-ASA1,1320 13Section 1320. 71.05 (26) (f) of the statutes is amended to read:
AB40-ASA1,714,1614 71.05 (26) (f) If a claimant claims the a subtraction for a capital gain under this
15subsection
par. (b) or (bm), the gain described under par. (b) 1. may not be used as
16a qualifying gain under sub. (25).
AB40-ASA1,1321 17Section 1321. 71.06 (1p) (intro.) of the statutes is amended to read:
AB40-ASA1,714,2318 71.06 (1p) Fiduciaries, single individuals and heads of households; after 2000
192001 to 2012. (intro.) The tax to be assessed, levied and collected upon the taxable
20incomes of all fiduciaries, except fiduciaries of nuclear decommissioning trust or
21reserve funds, and single individuals and heads of households shall be computed at
22the following rates for taxable years beginning after December 31, 2000, and before
23January 1, 2013
:
AB40-ASA1,1322 24Section 1322. 71.06 (1q) of the statutes is created to read:
AB40-ASA1,715,5
171.06 (1q) Fiduciaries, single individuals, and heads of households; after
22012.
(intro.) The tax to be assessed, levied, and collected upon the taxable incomes
3of all fiduciaries, except fiduciaries of nuclear decommissioning trust or reserve
4funds, and single individuals and heads of households shall be computed at the
5following rates for taxable years beginning after December 31, 2012:
AB40-ASA1,715,66 (a) On all taxable income from $0 to $7,500, 4.40 percent.
AB40-ASA1,715,87 (b) On all taxable income exceeding $7,500 but not exceeding $15,000, 5.84
8percent.
AB40-ASA1,715,109 (c) On all taxable income exceeding $15,000 but not exceeding $225,000, 6.27
10percent.
AB40-ASA1,715,1111 (d) On all taxable income exceeding $225,000, 7.65 percent.
AB40-ASA1,1323 12Section 1323. 71.06 (2) (g) (intro.) of the statutes is amended to read:
AB40-ASA1,715,1413 71.06 (2) (g) (intro.) For joint returns, for taxable years beginning after
14December 31, 2000, and before January 1, 2013:
AB40-ASA1,1324 15Section 1324. 71.06 (2) (h) (intro.) of the statutes is amended to read:
AB40-ASA1,715,1716 71.06 (2) (h) (intro.) For married persons filing separately, for taxable years
17beginning after December 31, 2000, and before January 1, 2013:
AB40-ASA1,1325 18Section 1325. 71.06 (2) (i) of the statutes is created to read:
AB40-ASA1,715,2019 71.06 (2) (i) For joint returns, for taxable years beginning after
20December 31, 2012:
AB40-ASA1,715,2121 1. On all taxable income from $0 to $10,000, 4.40 percent.
AB40-ASA1,715,2322 2. On all taxable income exceeding $10,000 but not exceeding $20,000, 5.84
23percent.
AB40-ASA1,715,2524 3. On all taxable income exceeding $20,000 but not exceeding $300,000, 6.27
25percent.
AB40-ASA1,716,1
14. On all taxable income exceeding $300,000, 7.65 percent.
AB40-ASA1,1326 2Section 1326. 71.06 (2) (j) of the statutes is created to read:
AB40-ASA1,716,43 71.06 (2) (j) For married persons filing separately, for taxable years beginning
4after December 31, 2012:
AB40-ASA1,716,55 1. On all taxable income from $0 to $5,000, 4.40 percent.
AB40-ASA1,716,76 2. On all taxable income exceeding $5,000 but not exceeding $10,000, 5.84
7percent.
AB40-ASA1,716,98 3. On all taxable income exceeding $10,000 but not exceeding $150,000, 6.27
9percent.
AB40-ASA1,716,1010 4. On all taxable income exceeding $150,000, 7.65 percent.
AB40-ASA1,1327 11Section 1327. 71.06 (2e) (a) of the statutes is amended to read:
AB40-ASA1,717,1212 71.06 (2e) (a) For taxable years beginning after December 31, 1998, and before
13January 1, 2000, the maximum dollar amount in each tax bracket, and the
14corresponding minimum dollar amount in the next bracket, under subs. (1m) and (2)
15(c) and (d), and for taxable years beginning after December 31, 1999, the maximum
16dollar amount in each tax bracket, and the corresponding minimum dollar amount
17in the next bracket, under subs. (1n), (1p) (a) to (c), (1q) (a) and (b), and (2) (e), (f), (g)
181. to 3., and (h) 1. to 3., (i) 1. and 2., and (j) 1. and 2., shall be increased each year by
19a percentage equal to the percentage change between the U.S. consumer price index
20for all urban consumers, U.S. city average, for the month of August of the previous
21year and the U.S. consumer price index for all urban consumers, U.S. city average,
22for the month of August 1997, as determined by the federal department of labor,
23except that for taxable years beginning after December 31, 2000, and before January
241, 2002, the dollar amount in the top bracket under subs. (1p) (c) and (d), (2) (g) 3.
25and 4. and (h) 3. and 4. shall be increased by a percentage equal to the percentage

1change between the U.S. consumer price index for all urban consumers, U.S. city
2average, for the month of August of the previous year and the U.S. consumer price
3index for all urban consumers, U.S. city average, for the month of August 1999, as
4determined by the federal department of labor, except that for taxable years
5beginning after December 31, 2011, the adjustment may occur only if the resulting
6amount is greater than the corresponding amount that was calculated for the
7previous year. Each amount that is revised under this paragraph shall be rounded
8to the nearest multiple of $10 if the revised amount is not a multiple of $10 or, if the
9revised amount is a multiple of $5, such an amount shall be increased to the next
10higher multiple of $10. The department of revenue shall annually adjust the changes
11in dollar amounts required under this paragraph and incorporate the changes into
12the income tax forms and instructions.
AB40-ASA1,1328 13Section 1328. 71.06 (2e) (b) of the statutes is amended to read:
AB40-ASA1,718,514 71.06 (2e) (b) For taxable years beginning after December 31, 2009, the
15maximum dollar amount in each tax bracket, and the corresponding minimum dollar
16amount in the next bracket, under subs. (1p) (d), (1q) (c), and (2) (g) 4. and, (h) 4., (i)
173., and (j) 3.,
and the dollar amount in the top bracket under subs. (1p) (e), (1q) (d),
18and (2) (g) 5. and, (h) 5., (i) 4., and (j) 4., shall be increased each year by a percentage
19equal to the percentage change between the U.S. consumer price index for all urban
20consumers, U.S. city average, for the month of August of the previous year and the
21U.S. consumer price index for all urban consumers, U.S. city average, for the month
22of August 2008, as determined by the federal department of labor, except that for
23taxable years beginning after December 31, 2011, the adjustment may occur only if
24the resulting amount is greater than the corresponding amount that was calculated
25for the previous year. Each amount that is revised under this paragraph shall be

1rounded to the nearest multiple of $10 if the revised amount is not a multiple of $10
2or, if the revised amount is a multiple of $5, such an amount shall be increased to the
3next higher multiple of $10. The department of revenue shall annually adjust the
4changes in dollar amounts required under this paragraph and incorporate the
5changes into the income tax forms and instructions.
AB40-ASA1,1329 6Section 1329. 71.06 (2e) (c) of the statutes is created to read:
AB40-ASA1,718,127 71.06 (2e) (c) Each amount that is revised under this subsection shall be
8rounded to the nearest multiple of $10 if the revised amount is not a multiple of $10
9or, if the revised amount is a multiple of $5, such an amount shall be increased to the
10next higher multiple of $10. The department of revenue shall annually adjust the
11changes in dollar amounts required under this subsection and incorporate the
12changes into the income tax forms and instructions.
AB40-ASA1,1330 13Section 1330. 71.06 (2m) of the statutes is amended to read:
AB40-ASA1,718,1714 71.06 (2m) Rate changes. If a rate under sub. (1), (1m), (1n), (1p), (1q), or (2)
15changes during a taxable year, the taxpayer shall compute the tax for that taxable
16year by the methods applicable to the federal income tax under section 15 of the
17internal revenue code Internal Revenue Code.
AB40-ASA1,1331 18Section 1331. 71.06 (2s) (d) of the statutes is amended to read:
AB40-ASA1,719,619 71.06 (2s) (d) For taxable years beginning after December 31, 2000, with
20respect to nonresident individuals, including individuals changing their domicile
21into or from this state, the tax brackets under subs. (1p), (1q), and (2) (g) and, (h), (i),
22and (j)
shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted
23gross income and the denominator of which is federal adjusted gross income. In this
24paragraph, for married persons filing separately "adjusted gross income" means the
25separate adjusted gross income of each spouse, and for married persons filing jointly

1"adjusted gross income" means the total adjusted gross income of both spouses. If
2an individual and that individual's spouse are not both domiciled in this state during
3the entire taxable year, the tax brackets under subs. (1p), (1q), and (2) (g) and, (h),
4(i), and (j)
on a joint return shall be multiplied by a fraction, the numerator of which
5is their joint Wisconsin adjusted gross income and the denominator of which is their
6joint federal adjusted gross income.
AB40-ASA1,1331d 7Section 1331d. 71.07 (2) of the statutes is amended to read:
AB40-ASA1,719,158 71.07 (2) Community development finance authority credit. Any individual
9receiving a credit under s. 71.09 (12m), 1985 stats., may carry forward to the next
10succeeding 15 taxable years the amount of the credit not offset against taxes for the
11year of purchase to the extent not offset by those taxes otherwise due in all
12intervening years between the year for which the credit was computed and the year
13for which the carry-forward is claimed. No unused credits may be carried forward
14and claimed under this subsection for taxable years beginning after December 31,
152013.
AB40-ASA1,1332 16Section 1332. 71.07 (2dj) (am) 4h. of the statutes is amended to read:
AB40-ASA1,719,2217 71.07 (2dj) (am) 4h. Modify section 51 (a) of the internal revenue code Internal
18Revenue Code
so that the amount of the credit is 25% of the qualified first-year
19wages if the wages are paid to an applicant for a Wisconsin works Works employment
20position for service either in an unsubsidized position or in a trial job under s. 49.147
21(3), 2011 stats., and so that the amount of the credit is 20% of the qualified first-year
22wages if the wages are not paid to such an applicant.
AB40-ASA1,1333 23Section 1333. 71.07 (2dx) (a) 4. of the statutes is amended to read:
AB40-ASA1,720,524 71.07 (2dx) (a) 4. "Full-time job" means a regular, nonseasonal full-time
25position in which an individual, as a condition of employment, is required to work at

1least 2,080 hours per year, including paid leave and holidays, and for which the
2individual receives pay that is equal to at least 150% of the federal minimum wage
3and receives benefits that are not required by federal or state law. "Full-time job"
4does not include initial training before an employment position begins
has the
5meaning given in s. 238.30 (2m)
.
AB40-ASA1,1334 6Section 1334. 71.07 (2dx) (a) 5. of the statutes is amended to read:
AB40-ASA1,720,207 71.07 (2dx) (a) 5. "Member of a targeted group" means a person who resides
8in an area designated by the federal government as an economic revitalization area,
9a person who is employed in an unsubsidized job but meets the eligibility
10requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position,
11a person who is employed in a trial job, as defined in s. 49.141 (1) (n), 2011 stats., or
12in a real work, real pay project position under s. 49.147 (3m) trial employment match
13program job, as defined in s. 49.141 (1) (n)
, a person who is eligible for child care
14assistance under s. 49.155, a person who is a vocational rehabilitation referral, an
15economically disadvantaged youth, an economically disadvantaged veteran, a
16supplemental security income recipient, a general assistance recipient, an
17economically disadvantaged ex-convict, a qualified summer youth employee, as
18defined in 26 USC 51 (d) (7), a dislocated worker, as defined in 29 USC 2801 (9), or
19a food stamp recipient, if the person has been certified in the manner under sub. (2dj)
20(am) 3. by a designated local agency, as defined in sub. (2dj) (am) 2.
AB40-ASA1,1335 21Section 1335. 71.07 (2dx) (b) 2. of the statutes is amended to read:
AB40-ASA1,721,222 71.07 (2dx) (b) 2. The amount determined by multiplying the amount
23determined under s. 238.385 (1) (b) or s. 560.785 (1) (b), 2009 stats., by the number
24of full-time jobs created in a development zone and filled by a member of a targeted

1group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or the
2subsidies and reimbursements paid under s. 49.147 (3m) (c)
for those jobs.
AB40-ASA1,1336 3Section 1336. 71.07 (2dx) (b) 3. of the statutes is amended to read:
AB40-ASA1,721,84 71.07 (2dx) (b) 3. The amount determined by multiplying the amount
5determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
6of full-time jobs created in a development zone and not filled by a member of a
7targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or
8the subsidies and reimbursements paid under s. 49.147 (3m) (c)
for those jobs.
AB40-ASA1,1337 9Section 1337. 71.07 (2dx) (b) 4. of the statutes is amended to read:
AB40-ASA1,721,1710 71.07 (2dx) (b) 4. The amount determined by multiplying the amount
11determined under s. 238.385 (1) (bm) or s. 560.785 (1) (bm), 2009 stats., by the
12number of full-time jobs retained, as provided in the rules under s. 238.385 or s.
13560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub.
14(2dj), in an enterprise development zone under s. 238.397 or s. 560.797, 2009 stats.,
15and for which significant capital investment was made and by then subtracting the
16subsidies paid under s. 49.147 (3) (a) or the subsidies and reimbursements paid
17under s. 49.147 (3m) (c)
for those jobs.
AB40-ASA1,1338 18Section 1338. 71.07 (2dx) (b) 5. of the statutes is amended to read:
AB40-ASA1,721,2519 71.07 (2dx) (b) 5. The amount determined by multiplying the amount
20determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
21of full-time jobs retained, as provided in the rules under s. 238.385 or s. 560.785,
222009 stats., excluding jobs for which a credit has been claimed under sub. (2dj), in
23a development zone and not filled by a member of a targeted group and by then
24subtracting the subsidies paid under s. 49.147 (3) (a) or the subsidies and
25reimbursements paid under s. 49.147 (3m) (c)
for those jobs.
AB40-ASA1,1338b
1Section 1338b. 71.07 (3h) (b) of the statutes is amended to read:
AB40-ASA1,722,82 71.07 (3h) (b) Filing claims. Subject to the limitations provided in this
3subsection, for taxable years beginning after December 31, 2011, and before January
41, 2015 2014, for a claimant who produces at least 2,500,000 gallons of biodiesel fuel
5in this state in the taxable year, a claimant may claim as a credit against the tax
6imposed under s. 71.02, up to the amount of the tax, an amount that is equal to the
7number of gallons of biodiesel fuel produced by the claimant in this state in the
8taxable year multiplied by 10 cents.
AB40-ASA1,1338c 9Section 1338c. 71.07 (3h) (d) of the statutes is renumbered 71.07 (3h) (d) 1.
AB40-ASA1,1338d 10Section 1338d. 71.07 (3h) (d) 2. of the statutes is created to read:
AB40-ASA1,722,1411 71.07 (3h) (d) 2. No credit may be claimed under this subsection for taxable
12years beginning after December 31, 2013. Credits under this subsection for taxable
13years that begin before January 1, 2014, may be carried forward to taxable years that
14begin after December 31, 2013.
AB40-ASA1,1338e 15Section 1338e. 71.07 (3n) (a) 2. (intro.) of the statutes is amended to read:
AB40-ASA1,722,2116 71.07 (3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the
17construction, the improvement, or the acquisition of buildings or facilities, or the
18acquisition of equipment, for dairy animal housing, confinement, animal feeding,
19milk production, or waste management, including the following, if used exclusively
20related to dairy animals and if acquired and placed in service in this state during
21taxable years that begin after December 31, 2003, and before January 1, 2017 2014:
AB40-ASA1,1338f 22Section 1338f. 71.07 (3n) (a) 5. (intro.) of the statutes is amended to read:
AB40-ASA1,723,323 71.07 (3n) (a) 5. (intro.) "Livestock farm modernization or expansion" means
24the construction, the improvement, or the acquisition of buildings or facilities, or the
25acquisition of equipment, for livestock housing, confinement, feeding, or waste

1management, including the following, if used exclusively related to livestock and if
2acquired and placed in service in this state during taxable years that begin after
3December 31, 2005, and before January 1, 2017 2014:
AB40-ASA1,1338g 4Section 1338g. 71.07 (3n) (a) 6. b. of the statutes is amended to read:
AB40-ASA1,723,85 71.07 (3n) (a) 6. b. For taxable years that begin after December 31, 2005, and
6before January 1, 2017 2014, "used exclusively," related to livestock, dairy animals,
7or both, means used to the exclusion of all other uses except for use not exceeding 5
8percent of total use.
AB40-ASA1,1338h 9Section 1338h. 71.07 (3n) (b) 1. of the statutes is amended to read:
AB40-ASA1,723,1510 71.07 (3n) (b) 1. Subject to the limitations provided in this subsection, for
11taxable years that begin after December 31, 2003, and before January 1, 2017 2014,
12a claimant may claim as a credit against the tax imposed under ss. 71.02 and 71.08
13an amount equal to 10% of the amount the claimant paid in the taxable year for dairy
14farm modernization or expansion related to the operation of the claimant's dairy
15farm.
AB40-ASA1,1338i 16Section 1338i. 71.07 (3n) (b) 2. of the statutes is amended to read:
AB40-ASA1,723,2217 71.07 (3n) (b) 2. Subject to the limitations provided in this subsection, for
18taxable years that begin after December 31, 2005, and before January 1, 2017 2014,
19a claimant may claim as a credit against the tax imposed under ss. 71.02 and 71.08
20an amount equal to 10 percent of the amount the claimant paid in the taxable year
21for livestock farm modernization or expansion related to the operation of the
22claimant's livestock farm.
AB40-ASA1,1338j 23Section 1338j. 71.07 (3n) (g) of the statutes is created to read:
AB40-ASA1,724,224 71.07 (3n) (g) No credit may be claimed under this subsection for taxable years
25beginning after December 31, 2013. Credits under this subsection for taxable years

1that begin before January 1, 2014, may be carried forward to taxable years that begin
2after December 31, 2013.
AB40-ASA1,1338k 3Section 1338k. 71.07 (3p) (a) 3. (intro.) of the statutes is amended to read:
AB40-ASA1,724,114 71.07 (3p) (a) 3. (intro.) "Dairy manufacturing modernization or expansion"
5means constructing, improving, or acquiring buildings or facilities, or acquiring
6equipment, for dairy manufacturing, including the following, if used exclusively for
7dairy manufacturing and if acquired and placed in service in this state during
8taxable years that begin after December 31, 2006, and before January 1, 2015 2014,
9or, in the case of dairy cooperatives, if acquired and placed in service in this state
10during taxable years that begin after December 31, 2008, and before January 1, 2017
112014:
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