AB40-ASA1,1396g 9Section 1396g. 71.28 (5n) (a) 8. g. of the statutes is created to read:
AB40-ASA1,796,1110 71.28 (5n) (a) 8. g. Income from aging natural cheese on behalf of others, as
11described under s. 70.995 (3) (b).
AB40-ASA1,1396h 12Section 1396h. 71.28 (5n) (a) 9. a. of the statutes is amended to read:
AB40-ASA1,796,1613 71.28 (5n) (a) 9. a. Tangible personal property manufactured in whole or in part
14by the claimant on property that is assessed as manufacturing property under s.
1570.995, not including natural cheese aged on behalf of others, as described under s.
1670.995 (3) (b)
.
AB40-ASA1,1398b 17Section 1398b. 71.28 (5r) (d) of the statutes is renumbered 71.28 (5r) (d) 1.
AB40-ASA1,1398c 18Section 1398c. 71.28 (5r) (d) 2. of the statutes is created to read:
AB40-ASA1,796,2219 71.28 (5r) (d) 2. No credit may be claimed under this subsection for taxable
20years beginning after December 31, 2013. Credits under this subsection for taxable
21years that begin before January 1, 2014, may be carried forward to taxable years that
22begin after December 31, 2013.
AB40-ASA1,1398d 23Section 1398d. 71.28 (5rm) (b) (intro.) of the statutes is amended to read:
AB40-ASA1,797,424 71.28 (5rm) (b) Filing claims. (intro.) Subject to the limitations provided in
25this subsection, for taxable years beginning after December 31, 2009, and before

1January 1, 2020 2014, a claimant may claim as a credit against the tax imposed
2under s. 71.23, up to the amount of the tax, the amount determined as follows, except
3that the maximum amount that a claimant may claim in a taxable year under this
4subsection is $300,000:
AB40-ASA1,1398e 5Section 1398e. 71.28 (5rm) (d) of the statutes is renumbered 71.28 (5rm) (d)
61.
AB40-ASA1,1398f 7Section 1398f. 71.28 (5rm) (d) 2. of the statutes is created to read:
AB40-ASA1,797,118 71.28 (5rm) (d) 2. No credit may be claimed under this subsection for taxable
9years beginning after December 31, 2013. Credits under this subsection for taxable
10years that begin before January 1, 2014, may be carried forward to taxable years that
11begin after December 31, 2013.
AB40-ASA1,1398fh 12Section 1398fh. 71.28 (6) (a) of the statutes is renumbered 71.28 (6) (a) (intro.)
13and amended to read:
AB40-ASA1,797,2014 71.28 (6) (a) (intro.) Any person may credit against taxes otherwise due under
15this chapter, up to the amount of those taxes, an amount equal to 5% one of the
16following percentages
of the costs of qualified rehabilitation expenditures, as defined
17in section 47 (c) (2) of the internal revenue code Internal Revenue Code, for certified
18historic structures on property located in this state if the physical work of
19construction or destruction in preparation for construction begins after December
2031, 1988, and the rehabilitated property is placed in service after June 30, 1989.:
AB40-ASA1,1398fm 21Section 1398fm. 71.28 (6) (a) 1. of the statutes is created to read:
AB40-ASA1,797,2222 71.28 (6) (a) 1. For taxable years beginning before January 1, 2013, 5 percent.
AB40-ASA1,1398fs 23Section 1398fs. 71.28 (6) (a) 2. of the statutes is created to read:
AB40-ASA1,797,2524 71.28 (6) (a) 2. For taxable years beginning after December 31, 2012, 10
25percent.
AB40-ASA1,1398g
1Section 1398g. 71.28 (6n) (d) of the statutes is renumbered 71.28 (6n) (d) 1.
AB40-ASA1,1398h 2Section 1398h. 71.28 (6n) (d) 2. of the statutes is created to read:
AB40-ASA1,798,63 71.28 (6n) (d) 2. No credit may be claimed under this subsection for taxable
4years beginning after December 31, 2012. Credits under this subsection for taxable
5years that begin before January 1, 2013, may be carried forward to taxable years that
6begin after December 31, 2012.
AB40-ASA1,1398i 7Section 1398i. 71.28 (8r) (d) of the statutes is renumbered 71.28 (8r) (d) 1.
AB40-ASA1,1398j 8Section 1398j. 71.28 (8r) (d) 2. of the statutes is created to read:
AB40-ASA1,798,109 71.28 (8r) (d) 2. No credit may be claimed under this subsection for taxable
10years beginning after December 31, 2013.
AB40-ASA1,1398k 11Section 1398k. 71.28 (9s) (b) of the statutes is amended to read:
AB40-ASA1,798,1912 71.28 (9s) (b) Filing claims. Subject to the limitations provided under this
13subsection, for taxable years beginning after December 31, 2010, and before January
141, 2014,
for 2 consecutive taxable years beginning with the taxable year in which the
15claimant's business locates to this state from another state or another country and
16begins doing business in this state, a claimant may claim as a credit against the taxes
17imposed under s. 71.23, up to the amount of the taxes, the amount of the claimant's
18tax liability under this subchapter after applying all other allowable credits,
19deductions, and exclusions.
AB40-ASA1,1398L 20Section 1398L. 71.28 (9s) (d) 3. of the statutes is created to read:
AB40-ASA1,798,2421 71.28 (9s) (d) 3. No credit may be claimed under this subsection for taxable
22years beginning after December 31, 2013. Credits under this subsection for taxable
23years that begin before January 1, 2014, may be carried forward to taxable years that
24begin after December 31, 2013.
AB40-ASA1,1399 25Section 1399. 71.34 (1g) (i) of the statutes is created to read:
AB40-ASA1,802,14
171.34 (1g) (i) "Internal Revenue Code" for tax-option corporations, for taxable
2years that begin after December 31, 2012, means the federal Internal Revenue Code
3as amended to December 31, 2010, excluding sections 103, 104, and 110 of P.L.
4102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66,
5sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, sections 1, 3,
64, and 5 of P.L. 106-519, sections 162 and 165 of P.L. 106-554, section 431 of P.L.
7107-16, sections 101 and 301 (a) of P.L. 107-147, sections 106, 201, and 202 of P.L.
8108-27, section 1201 of P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of P.L.
9108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
10108-357, P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
111329, 1348, and 1351 of P.L. 109-58, section 11146 of P.L. 109-59, section 301 of P.L.
12109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
13(j), and (q), and 405 of P.L. 109-135, sections 101, 207, 503, and 513 of P.L. 109-222,
14P.L. 109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of
15division A and section 403 of division C of P.L. 109-432, P.L. 110-28, except sections
168215, 8231, 8232, 8234, and 8236 of P.L. 110-28, P.L. 110-140, sections 2, 3, and 5
17of P.L. 110-142, P.L. 110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L. 110-172,
18P.L. 110-185, P.L. 110-234, section 301 of P.L. 110-245, P.L. 110-246, except sections
194, 15312, 15313, 15314, 15316, and 15342 of P.L. 110-246, sections 3071, 3081, and
203082 of P.L. 110-289, section 9 (e) of P.L. 110-317, P.L. 110-343, except sections 116,
21208, 211, and 301 of division B and sections 313 and 504 of division C of P.L. 110-343,
22P.L. 111-5, except sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of
23division B of P.L. 111-5, section 201 of P.L. 111-147, P.L. 111-148, except sections
241322, 1515, 9003, 9004, 9005, 9012, 9013, 9014, 9016, 9021, 9022, 10108, 10902,
2510908, and 10909 of P.L. 111-148, P.L. 111-152, except sections 1403 and 1407 of P.L.

1111-152, P.L. 111-203, except section 1601 of P.L. 111-203, P.L. 111-226, except
2sections 215 and 217 of P.L. 111-226, P.L. 111-240, except sections 2014, 2043, 2111,
32112, and 2113 of P.L. 111-240, P.L. 111-312, and as amended by section 1858 of P.L.
4112-10, section 1108 of P.L. 112-95, sections 40211, 40241, 40242, and 100121 of P.L.
5112-141, and sections 101 and 902 of P.L. 112-240, and as indirectly affected in the
6provisions applicable to this subchapter by P.L. 99-514, excluding sections 803 (d)
7(2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514, P.L. 100-203,
8P.L. 100-647, excluding section 1008 (g) (5) of P.L. 100-647, P.L. 101-73, P.L.
9101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections
10103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
11sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L.
12103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections
131123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L.
14104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L.
15106-36, P.L. 106-170, P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of
16P.L. 106-554, P.L. 106-573, P.L. 107-15, P.L. 107-16, excluding section 431 of P.L.
17107-16, P.L. 107-22, P.L. 107-116, P.L. 107-134, P.L. 107-147, excluding sections
18101 and 301 (a) of P.L. 107-147, P.L. 107-181, P.L. 107-210, P.L. 107-276, P.L.
19107-358, P.L. 108-27, excluding sections 106, 201, and 202 of P.L. 108-27, P.L.
20108-121, P.L. 108-173, excluding section 1201 of P.L. 108-173, P.L. 108-203, P.L.
21108-218, P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
22108-311, P.L. 108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422,
23847, 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,
4503, and 513 of P.L. 109-222, P.L. 109-227, P.L. 109-280, sections 117, 406, 409, 410,
5412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L. 109-432,
6sections 8215, 8231, 8232, 8234, and 8236 of P.L. 110-28, P.L. 110-141, P.L. 110-142,
7excluding sections 2, 3, and 5 of P.L. 110-142, P.L. 110-172, excluding sections 3 (b)
8and 11 (b), (e), and (g) of P.L. 110-172, P.L. 110-245, excluding section 301 of P.L.
9110-245, sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L. 110-246, P.L.
10110-289, excluding sections 3071, 3081, and 3082 of P.L. 110-289, P.L. 110-317,
11excluding section 9 (e) of P.L. 110-317, sections 116, 208, 211, and 301 of division B
12and sections 313 and 504 of division C of P.L. 110-343, P.L. 110-351, P.L. 110-458,
13sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
14111-5, P.L. 111-92, P.L. 111-147, excluding section 201 of P.L. 111-147, sections
151322, 1515, 9003, 9004, 9005, 9012, 9013, 9014, 9016, 9021, 9022, 10108, 10902,
1610908, and 10909 of P.L. 111-148, sections 1403 and 1407 of P.L. 111-152, P.L.
17111-192, section 1601 of P.L. 111-203, sections 215 and 217 of P.L. 111-226, sections
182014, 2043, 2111, 2112, and 2113 of P.L. 111-240, P.L. 111-325, section 1858 of P.L.
19112-10, section 1108 of P.L. 112-95, sections 40211, 40241, 40242, and 100121 of P.L.
20112-141, and sections 101 and 902 of P.L. 112-240, except that section 1366 (f)
21(relating to pass-through of items to shareholders) is modified by substituting the
22tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue
23Code applies for Wisconsin purposes at the same time as for federal purposes, except
24that changes made by P.L. 106-573, sections 9004, 9005, 9012, 9013, 9014, 9016, and
2510902 of P.L. 111-148, sections 1403 and 1407 of P.L. 111-152, section 1858 of P.L.

1112-10, section 1108 of P.L. 112-95, and sections 40211, 40241, 40242, and 100121
2of P.L. 112-141 do not apply for taxable years beginning before January 1, 2013.
3Amendments to the federal Internal Revenue Code enacted after December 31, 2010,
4do not apply to this paragraph with respect to taxable years beginning after
5December 31, 2010, except that changes to the Internal Revenue Code made by
6section 1858 of P.L. 112-10, section 1108 of P.L. 112-95, and sections 40211, 40241,
740242, and 100121 of P.L. 112-141, and changes that indirectly affect the provisions
8applicable to this subchapter made by section 1858 of P.L. 112-10, section 1108 of P.L.
9112-95, and sections 40211, 40241, 40242, and 100121 of P.L. 112-141, do not apply
10for taxable years beginning before January 1, 2013, and changes to the Internal
11Revenue Code made by sections 101 and 902 of P.L. 112-240, and changes that
12indirectly affect the provisions applicable to this subchapter made by sections 101
13and 902 of P.L. 112-240, apply for Wisconsin purposes at the same time as for federal
14purposes.
AB40-ASA1,1400 15Section 1400. 71.34 (1g) (o) of the statutes is repealed.
AB40-ASA1,1401 16Section 1401. 71.34 (1g) (p) of the statutes is renumbered 71.34 (1g) (a).
AB40-ASA1,1402 17Section 1402. 71.34 (1g) (q) of the statutes is renumbered 71.34 (1g) (b).
AB40-ASA1,1403 18Section 1403. 71.34 (1g) (r) of the statutes is renumbered 71.34 (1g) (c).
AB40-ASA1,1404 19Section 1404. 71.34 (1g) (s) of the statutes is renumbered 71.34 (1g) (d).
AB40-ASA1,1405 20Section 1405. 71.34 (1g) (t) of the statutes is renumbered 71.34 (1g) (e).
AB40-ASA1,1406 21Section 1406. 71.34 (1g) (u) of the statutes is renumbered 71.34 (1g) (f).
AB40-ASA1,1407 22Section 1407. 71.34 (1g) (um) of the statutes is renumbered 71.34 (1g) (g).
AB40-ASA1,1408 23Section 1408. 71.34 (1g) (un) of the statutes is renumbered 71.34 (1g) (h) and
24amended to read:
AB40-ASA1,806,11
171.34 (1g) (h) "Internal Revenue Code" for tax-option corporations, for taxable
2years that begin after December 31, 2010, and before January 1, 2013, means the
3federal Internal Revenue Code as amended to December 31, 2010, excluding sections
4103, 104, and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and
513203 (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, sections 101 and 301 (a) of P.L. 107-147,
8sections 106, 201, and 202 of P.L. 108-27, section 1201 of P.L. 108-173, sections 306,
9308, 316, 401, and 403 (a) of P.L. 108-311, sections 101, 102, 201, 211, 242, 244, 336,
10337, 422, 847, 909, and 910 of P.L. 108-357, P.L. 109-1, sections 1305, 1308, 1309,
111310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L. 109-58, section
1211146 of P.L. 109-59, section 301 of P.L. 109-73, sections 101, 105, 201 (a) as it relates
13to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, sections 101,
14207, 503, and 513 of P.L. 109-222, P.L. 109-432, except sections 117, 406, 409, 410,
15412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L. 109-432,
16P.L. 110-28, except sections 8215, 8231, 8232, 8234, and 8236 of P.L. 110-28, P.L.
17110-140, sections 2, 3, and 5 of P.L. 110-142, P.L. 110-166, sections 3 (b) and 11 (b),
18(e), and (g) of P.L. 110-172, P.L. 110-185, P.L. 110-234, section 301 of P.L. 110-245,
19P.L. 110-246, except sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
20110-246, sections 3071, 3081, and 3082 of P.L. 110-289, section 9 (e) of P.L. 110-317,
21P.L. 110-343, except sections 116, 208, 211, and 301 of division B and sections 313
22and 504 of division C of P.L. 110-343, P.L. 111-5, except sections 1261, 1262, 1401,
231402, 1521, 1522, 1531, and 1541 of division B of P.L. 111-5, section 201 of P.L.
24111-147, P.L. 111-148, except sections 1322, 1515, 9003, 9021, 9022, 10108, 10908,
25and 10909 of P.L. 111-148, P.L. 111-152, except section 1407 of P.L. 111-152, P.L.

1111-203, except section 1601 of P.L. 111-203, P.L. 111-226, except sections 215 and
2217 of P.L. 111-226, P.L. 111-240, except sections 2014, 2043, 2111, 2112, and 2113
3of P.L. 111-240, and P.L. 111-312, and as amended by section 902 of P.L. 112-240,
4and as indirectly affected in the provisions applicable to this subchapter by P.L.
599-514, P.L. 100-203, P.L. 100-647, excluding sections 803 (d) (2) (B), 805 (d) (2), 812
6(c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and , P.L. 100-203, P.L. 100-647,
7excluding
section 1008 (g) (5) of P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L.
8101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and
9110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections
1013113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L.
11103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202
12(c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L.
13105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36, P.L.
14106-170, P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554,
15P.L. 107-15, P.L. 107-16, excluding section 431 of P.L. 107-16, P.L. 107-22, P.L.
16107-116, P.L. 107-134, P.L. 107-147, excluding sections 101 and 301 (a) of P.L.
17107-147, P.L. 107-181, P.L. 107-210, P.L. 107-276, P.L. 107-358, P.L. 108-27,
18excluding sections 106, 201, and 202 of P.L. 108-27, P.L. 108-121, P.L. 108-173,
19excluding section 1201 of P.L. 108-173, P.L. 108-203, P.L. 108-218, P.L. 108-311,
20excluding sections 306, 308, 316, 401, and 403 (a) of P.L. 108-311, P.L. 108-357,
21excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
22P.L. 108-357, P.L. 108-375, P.L. 108-476, P.L. 109-7, P.L. 109-58, excluding sections
231305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
24109-58, P.L. 109-59, excluding section 11146 of P.L. 109-59, P.L. 109-73, excluding
25section 301 of P.L. 109-73, P.L. 109-135, excluding sections 101, 105, 201 (a) as it

1relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L. 109-135, P.L.
2109-151, P.L. 109-222, excluding sections 101, 207, 503, and 513 of P.L. 109-222,
3P.L. 109-227, P.L. 109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
4of division A and section 403 of division C of P.L. 109-432, sections 8215, 8231, 8232,
58234, and 8236 of P.L. 110-28, P.L. 110-141, P.L. 110-142, excluding sections 2, 3,
6and 5 of P.L. 110-142, P.L. 110-172, excluding sections 3 (b) and 11 (b), (e), and (g)
7of P.L. 110-172, P.L. 110-245, excluding section 301 of P.L. 110-245, sections 4,
815312, 15313, 15314, 15316, and 15342 of P.L. 110-246, P.L. 110-289, excluding
9sections 3071, 3081, and 3082 of P.L. 110-289, P.L. 110-317, excluding section 9 (e)
10of P.L. 110-317, sections 116, 208, 211, and 301 of division B and sections 313 and 504
11of division C of P.L. 110-343, P.L. 110-351, P.L. 110-458, sections 1261, 1262, 1401,
121402, 1521, 1522, 1531, and 1541 of division B of P.L. 111-5, P.L. 111-92, P.L.
13111-147, excluding section 201 of P.L. 111-147, sections 1322, 1515, 9003, 9021,
149022, 10108, 10908, and 10909 of P.L. 111-148, section 1407 of P.L. 111-152, P.L.
15111-192, section 1601 of P.L. 111-203, sections 215 and 217 of P.L. 111-226, sections
162014, 2043, 2111, 2112, and 2113 of P.L. 111-240, and P.L. 111-325, and section 902
17of P.L. 112-240
, except that section 1366 (f) (relating to pass-through of items to
18shareholders) is modified by substituting the tax under s. 71.35 for the taxes under
19sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes
20at the same time as for federal purposes, except that changes made by section 209
21of P.L. 109-222, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division
22A and section 403 of division C of P.L. 109-432, sections 8215, 8231, 8232, 8234, and
238236 of P.L. 110-28, P.L. 110-141, P.L. 110-142, excluding sections 2, 3, and 5 of P.L.
24110-142, P.L. 110-172, excluding sections 3 (b) and 11 (b), (e), and (g) of P.L. 110-172,
25sections 110 and 113 of P.L. 110-245, sections 15312, 15313, 15314, and 15342 of P.L.

1110-246, sections 3031, 3032, 3033, 3041, 3051, 3052, 3061, and 3092 of P.L.
2110-289, P.L. 110-317, excluding section 9 (e) of P.L. 110-317, sections 116, 208, and
3211 of division B and section 504 of division C of P.L. 110-343, section 14 of P.L.
4111-92, sections 531, 532, and 533 of P.L. 111-147, sections 10908 and 10909 of P.L.
5111-148, and section 2043 of P.L. 111-240 do not apply for taxable years beginning
6before January 1, 2011. Amendments to the federal Internal Revenue Code enacted
7after December 31, 2010, do not apply to this paragraph with respect to taxable years
8beginning after December 31, 2010, and before January 1, 2013, except that changes
9to the Internal Revenue Code made by section 902 of P.L. 112-240, and changes that
10indirectly affect the provisions applicable to this subchapter made by section 902 of
11P.L. 112-240, apply for Wisconsin purposes at the same time as for federal purposes
.
AB40-ASA1,1408b 12Section 1408b. 71.34 (1k) (intro.) of the statutes is amended to read:
AB40-ASA1,806,1513 71.34 (1k) (intro.) "Net income or loss" of a tax-option corporation means net
14income or loss computed under the internal revenue code, as defined under sub. (1g)
15and s. 71.98 (3) and (4), except that:
AB40-ASA1,1408bg 16Section 1408bg. 71.34 (1k) (g) of the statutes is amended to read:
AB40-ASA1,806,2017 71.34 (1k) (g) An addition shall be made for credits computed by a tax-option
18corporation under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1dm), (1ds), (1dx), (1dy),
19(3), (3g), (3h), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (4), (5), (5e), (5f), (5g), (5h),
20(5i), (5j), (5k), (5r), (5rm), (6n), and (8r) and passed through to shareholders.
AB40-ASA1,1408c 21Section 1408c. 71.34 (1k) (n) of the statutes is created to read:
AB40-ASA1,807,322 71.34 (1k) (n) Starting with the first taxable year beginning after December
2331, 2013, and for each of the next 4 taxable years, a subtraction shall be made in an
24amount equal to 20 percent of the amount determined by subtracting the combined
25federal adjusted basis of all depreciated or amortized assets as of the last day of the

1taxable year beginning in 2013 that are also being depreciated or amortized for
2Wisconsin from the combined Wisconsin adjusted basis of those assets on the same
3day.
AB40-ASA1,1408d 4Section 1408d. 71.34 (1m) (b) of the statutes is amended to read:
AB40-ASA1,807,125 71.34 (1m) (b) Notwithstanding sub. (1g), section 101 of P.L. 109-222, related
6to extending the increased expense deduction under section 179 of the Internal
7Revenue Code, applies to property used in farming that is acquired and placed in
8service in taxable years beginning on or after December 31, 2007, and before January
91, 2008 2010, and used by a person who is actively engaged in farming. For purposes
10of this paragraph, "actively engaged in farming" has the meaning given in 7 CFR
111400.201
, and "farming" has the meaning given in section 464 (e) (1) of the Internal
12Revenue Code.
AB40-ASA1,1408f 13Section 1408f. 71.365 (1m) (a) of the statutes is renumbered 71.365 (1m) and
14amended to read:
AB40-ASA1,808,1415 71.365 (1m) Except as provided in par. (b) For taxable years beginning before
16January 1, 2014
, a tax-option corporation shall compute amortization and
17depreciation under the federal Internal Revenue Code as amended to December 31,
182000, except that property first placed in service by the taxpayer on or after
19January 1, 1983, but before January 1, 1987, that, under s. 71.04 (15) (b) and (br),
201985 stats., is required to be depreciated under the Internal Revenue Code as
21amended to December 31, 1980, and property first placed in service in taxable year
221981 or thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985
23stats., is required to be depreciated under the Internal Revenue Code as amended
24to December 31, 1980, shall continue to be depreciated under the Internal Revenue
25Code as amended to December 31, 1980. Any difference between the adjusted basis

1for federal income tax purposes and the adjusted basis under this chapter shall be
2taken into account in determining net income or loss in the year or years for which
3the gain or loss is reportable under this chapter. If that property was placed in
4service by the taxpayer during taxable year 1986 and thereafter but before the
5property is used in the production of income subject to taxation under this chapter,
6the property's adjusted basis and the depreciation or other deduction schedule are
7not required to be changed from the amount allowable on the owner's federal income
8tax returns for any year because the property is used in the production of income
9subject to taxation under this chapter. If that property was acquired in a transaction
10in taxable year 1986 or thereafter in which the adjusted basis of the property in the
11hands of the transferee is the same as the adjusted basis of the property in the hands
12of the transferor, the Wisconsin adjusted basis of that property on the date of transfer
13is the adjusted basis allowable under the Internal Revenue Code as defined for
14Wisconsin purposes for the property in the hands of the transferor.
AB40-ASA1,1408g 15Section 1408g. 71.365 (1m) (b) of the statutes is repealed.
AB40-ASA1,1408h 16Section 1408h. 71.365 (3) of the statutes is amended to read:
AB40-ASA1,808,1917 71.365 (3) Credits not allowed. The credits under s. 71.28 (4), (4m), and (5)
18may not be claimed by a tax-option corporation or shareholders of a tax-option
19corporation.
AB40-ASA1,1409 20Section 1409. 71.42 (2) (i) of the statutes is created to read:
AB40-ASA1,812,621 71.42 (2) (i) For taxable years that begin after December 31, 2012, "Internal
22Revenue Code" means the federal Internal Revenue Code as amended to
23December 31, 2010, excluding sections 103, 104, and 110 of P.L. 102-227, sections
2413113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, sections 1123 (b),
251202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, sections 1, 3, 4, and 5 of P.L.

1106-519, sections 162 and 165 of P.L. 106-554, section 431 of P.L. 107-16, sections
2101 and 301 (a) of P.L. 107-147, sections 106, 201, and 202 of P.L. 108-27, section
31201 of P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of P.L. 108-311, sections
4101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L. 108-357, P.L.
5109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348,
6and 1351 of P.L. 109-58, section 11146 of P.L. 109-59, section 301 of P.L. 109-73,
7sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
8(q), and 405 of P.L. 109-135, sections 101, 207, 503, and 513 of P.L. 109-222, P.L.
9109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division
10A and section 403 of division C of P.L. 109-432, P.L. 110-28, except sections 8215,
118231, 8232, 8234, and 8236 of P.L. 110-28, P.L. 110-140, sections 2, 3, and 5 of P.L.
12110-142, P.L. 110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L. 110-172, P.L.
13110-185, P.L. 110-234, section 301 of P.L. 110-245, P.L. 110-246, except sections 4,
1415312, 15313, 15314, 15316, and 15342 of P.L. 110-246, sections 3071, 3081, and
153082 of P.L. 110-289, section 9 (e) of P.L. 110-317, P.L. 110-343, except sections 116,
16208, 211, and 301 of division B and sections 313 and 504 of division C of P.L. 110-343,
17P.L. 111-5, except sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of
18division B of P.L. 111-5, section 201 of P.L. 111-147, P.L. 111-148, except sections
191322, 1515, 9003, 9004, 9005, 9012, 9013, 9014, 9016, 9021, 9022, 10108, 10902,
2010908, and 10909 of P.L. 111-148, P.L. 111-152, except sections 1403 and 1407 of P.L.
21111-152, P.L. 111-203, except section 1601 of P.L. 111-203, P.L. 111-226, except
22sections 215 and 217 of P.L. 111-226, P.L. 111-240, except sections 2014, 2043, 2111,
232112, and 2113 of P.L. 111-240, and P.L. 111-312, and as amended by section 1858
24of P.L. 112-10, section 1108 of P.L. 112-95, sections 40211, 40241, 40242, and 100121
25of P.L. 112-141, and sections 101 and 902 of P.L. 112-240, and as indirectly affected

1by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179,
2P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104, and 110 of P.L.
3102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections 13113, 13150
4(d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
5103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
61311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L. 104-193, P.L. 105-33, P.L.
7105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L. 106-36, P.L. 106-170, P.L.
8106-230, P.L. 106-554, excluding sections 162 and 165 of P.L. 106-554, P.L. 106-573,
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, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
16P.L. 108-357, 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, 503, and 513 of P.L. 109-222,
22P.L. 109-227, P.L. 109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
23of division A and section 403 of division C of P.L. 109-432, sections 8215, 8231, 8232,
248234, and 8236 of P.L. 110-28, P.L. 110-141, P.L. 110-142, excluding sections 2, 3,
25and 5 of P.L. 110-142, P.L. 110-172, excluding sections 3 (b) and 11 (b), (e), and (g)

1of P.L. 110-172, P.L. 110-245, excluding section 301 of P.L. 110-245, sections 4,
215312, 15313, 15314, 15316, and 15342 of P.L. 110-246, P.L. 110-289, excluding
3sections 3071, 3081, and 3082 of P.L. 110-289, P.L. 110-317, excluding section 9 (e)
4of P.L. 110-317, sections 116, 208, 211, and 301 of division B and sections 313 and 504
5of division C of P.L. 110-343, P.L. 110-351, P.L. 110-458, sections 1261, 1262, 1401,
61402, 1521, 1522, 1531, and 1541 of division B of P.L. 111-5, P.L. 111-92, P.L.
7111-147, excluding section 201 of P.L. 111-147, sections 1322, 1515, 9003, 9004,
89005, 9012, 9013, 9014, 9016, 9021, 9022, 10108, 10902, 10908, and 10909 of P.L.
9111-148, sections 1403 and 1407 of P.L. 111-152, P.L. 111-192, section 1601 of P.L.
10111-203, sections 215 and 217 of P.L. 111-226, sections 2014, 2043, 2111, 2112, and
112113 of P.L. 111-240, P.L. 111-325, section 1858 of P.L. 112-10, section 1108 of P.L.
12112-95, sections 40211, 40241, 40242, and 100121 of P.L. 112-141, and sections 101
13and 902 of P.L. 112-240, except that "Internal Revenue Code" does not include
14section 847 of the federal Internal Revenue Code. The Internal Revenue Code
15applies for Wisconsin purposes at the same time as for federal purposes, except that
16changes made by P.L. 106-573, sections 9004, 9005, 9012, 9013, 9014, 9016, and
1710902 of P.L. 111-148, sections 1403 and 1407 of P.L. 111-152, section 1858 of P.L.
18112-10, section 1108 of P.L. 112-95, and sections 40211, 40241, 40242, and 100121
19of P.L. 112-141 do not apply for taxable years beginning before January 1, 2013.
20Amendments to the federal Internal Revenue Code enacted after December 31, 2010,
21do not apply to this paragraph with respect to taxable years beginning after
22December 31, 2010, except that changes to the Internal Revenue Code made by
23section 1858 of P.L. 112-10, section 1108 of P.L. 112-95, and sections 40211, 40241,
2440242, and 100121 of P.L. 112-141, and changes that indirectly affect the provisions
25applicable to this subchapter made by section 1858 of P.L. 112-10, section 1108 of P.L.

1112-95, and sections 40211, 40241, 40242, and 100121 of P.L. 112-141, do not apply
2for taxable years beginning before January 1, 2013, and changes to the Internal
3Revenue Code made by sections 101 and 902 of P.L. 112-240, and changes that
4indirectly affect the provisions applicable to this subchapter made by sections 101
5and 902 of P.L. 112-240, apply for Wisconsin purposes at the same time as for federal
6purposes.
AB40-ASA1,1410 7Section 1410. 71.42 (2) (n) of the statutes is repealed.
AB40-ASA1,1411 8Section 1411. 71.42 (2) (o) of the statutes is renumbered 71.42 (2) (a).
AB40-ASA1,1412 9Section 1412. 71.42 (2) (p) of the statutes is renumbered 71.42 (2) (b).
AB40-ASA1,1413 10Section 1413. 71.42 (2) (q) of the statutes is renumbered 71.42 (2) (c).
AB40-ASA1,1414 11Section 1414. 71.42 (2) (r) of the statutes is renumbered 71.42 (2) (d).
AB40-ASA1,1415 12Section 1415. 71.42 (2) (s) of the statutes is renumbered 71.42 (2) (e).
AB40-ASA1,1416 13Section 1416. 71.42 (2) (t) of the statutes is renumbered 71.42 (2) (f).
AB40-ASA1,1417 14Section 1417. 71.42 (2) (tm) of the statutes is renumbered 71.42 (2) (g).
AB40-ASA1,1418 15Section 1418. 71.42 (2) (tn) of the statutes is renumbered 71.42 (2) (h) and
16amended to read:
AB40-ASA1,815,2417 71.42 (2) (h) For taxable years that begin after December 31, 2010, and before
18January 1, 2013,
"Internal Revenue Code" means the federal Internal Revenue Code
19as amended to December 31, 2010, 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, sections 1, 3,
224, and 5 of P.L. 106-519, sections 162 and 165 of P.L. 106-554, P.L. 106-573, section
23431 of P.L. 107-16, sections 101 and 301 (a) of P.L. 107-147, sections 106, 201, and
24202 of P.L. 108-27, section 1201 of P.L. 108-173, sections 306, 308, 316, 401, and 403
25(a) of P.L. 108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and

1910 of P.L. 108-357, P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
21326, 1328, 1329, 1348, and 1351 of P.L. 109-58, section 11146 of P.L. 109-59, section
3301 of P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
4(e), 403 (e), (j), and (q), and 405 of P.L. 109-135, sections 101, 207, 503, and 513 of P.L.
5109-222, P.L. 109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
6of division A and section 403 of division C of P.L. 109-432, P.L. 110-28, except
7sections 8215, 8231, 8232, 8234, and 8236 of P.L. 110-28, P.L. 110-140, sections 2,
83, and 5 of P.L. 110-142, P.L. 110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L.
9110-172, P.L. 110-185, P.L. 110-234, section 301 of P.L. 110-245, P.L. 110-246,
10except sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L. 110-246, sections
113071, 3081, and 3082 of P.L. 110-289, section 9 (e) of P.L. 110-317, P.L. 110-343,
12except sections 116, 208, 211, and 301 of division B and sections 313 and 504 of
13division C of P.L. 110-343, P.L. 111-5, except sections 1261, 1262, 1401, 1402, 1521,
141522, 1531, and 1541 of division B of P.L. 111-5, section 201 of P.L. 111-147, P.L.
15111-148, except sections 1322, 1515, 9003, 9021, 9022, 10108, 10908, and 10909 of
16P.L. 111-148, P.L. 111-152, except section 1407 of P.L. 111-152, P.L. 111-203, except
17section 1601 of P.L. 111-203, P.L. 111-226, except sections 215 and 217 of P.L.
18111-226, P.L. 111-240, except sections 2014, 2043, 2111, 2112, and 2113 of P.L.
19111-240, and P.L. 111-312, and as amended by section 902 of P.L. 112-240, and as
20indirectly affected by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L.
21101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections
22103, 104, and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
23sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66, P.L.
24103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections
251123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188, P.L. 104-191, P.L.

1104-193, P.L. 105-33, P.L. 105-34, P.L. 105-178, P.L. 105-206, P.L. 105-277, P.L.
2106-36, P.L. 106-170, P.L. 106-230, P.L. 106-554, excluding sections 162 and 165 of
3P.L. 106-554, P.L. 107-15, P.L. 107-16, excluding section 431 of P.L. 107-16, P.L.
4107-22, P.L. 107-116, P.L. 107-134, P.L. 107-147, excluding sections 101 and 301 (a)
5of P.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, P.L. 108-173,
7excluding section 1201 of P.L. 108-173, P.L. 108-203, P.L. 108-218, P.L. 108-311,
8excluding sections 306, 308, 316, 401, and 403 (a) of P.L. 108-311, P.L. 108-357,
9excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
10P.L. 108-357, P.L. 108-375, P.L. 108-476, P.L. 109-7, P.L. 109-58, excluding sections
111305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
12109-58, P.L. 109-59, excluding section 11146 of P.L. 109-59, P.L. 109-73, excluding
13section 301 of P.L. 109-73, 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, P.L.
15109-151, P.L. 109-222, excluding sections 101, 207, 503, and 513 of P.L. 109-222,
16P.L. 109-227, P.L. 109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
17of division A and section 403 of division C of P.L. 109-432, sections 8215, 8231, 8232,
188234, and 8236 of P.L. 110-28, P.L. 110-141, P.L. 110-142, excluding sections 2, 3,
19and 5 of P.L. 110-142, P.L. 110-172, excluding sections 3 (b) and 11 (b), (e), and (g)
20of P.L. 110-172, P.L. 110-245, excluding section 301 of P.L. 110-245, sections 4,
2115312, 15313, 15314, 15316, and 15342 of P.L. 110-246, P.L. 110-289, excluding
22sections 3071, 3081, and 3082 of P.L. 110-289, P.L. 110-317, excluding section 9 (e)
23of P.L. 110-317, sections 116, 208, 211, and 301 of division B and sections 313 and 504
24of division C of P.L. 110-343, P.L. 110-351, P.L. 110-458, sections 1261, 1262, 1401,
251402, 1521, 1522, 1531, and 1541 of division B of P.L. 111-5, P.L. 111-92, P.L.

1111-147, excluding section 201 of P.L. 111-147, sections 1322, 1515, 9003, 9021,
29022, 10108, 10908, and 10909 of P.L. 111-148, section 1407 of P.L. 111-152, P.L.
3111-192, section 1601 of P.L. 111-203, sections 215 and 217 of P.L. 111-226, sections
42014, 2043, 2111, 2112, and 2113 of P.L. 111-240, and P.L. 111-325, and section 902
5of P.L. 112-240
, except that "Internal Revenue Code" does not include section 847 of
6the federal Internal Revenue Code. The Internal Revenue Code applies for
7Wisconsin purposes at the same time as for federal purposes, except that changes
8made by section 209 of P.L. 109-222, sections 117, 406, 409, 410, 412, 417, 418, 424,
9and 425 of division A and section 403 of division C of P.L. 109-432, sections 8215,
108231, 8232, 8234, and 8236 of P.L. 110-28, P.L. 110-141, P.L. 110-142, excluding
11sections 2, 3, and 5 of P.L. 110-142, P.L. 110-172, excluding sections 3 (b) and 11 (b),
12(e), and (g) of P.L. 110-172, sections 110 and 113 of P.L. 110-245, sections 15312,
1315313, 15314, and 15342 of P.L. 110-246, sections 3031, 3032, 3033, 3041, 3051,
143052, 3061, and 3092 of P.L. 110-289, P.L. 110-317, excluding section 9 (e) of P.L.
15110-317, sections 116, 208, and 211 of division B and section 504 of division C of P.L.
16110-343, section 14 of P.L. 111-92, sections 531, 532, and 533 of P.L. 111-147,
17sections 10908 and 10909 of P.L. 111-148, and section 2043 of P.L. 111-240 do not
18apply for taxable years beginning before January 1, 2011. Amendments to the
19federal Internal Revenue Code enacted after December 31, 2010, do not apply to this
20paragraph with respect to taxable years beginning after December 31, 2010, and
21before January 1, 2013, except that changes to the Internal Revenue Code made by
22section 902 of P.L. 112-240, and changes that indirectly affect the provisions
23applicable to this subchapter made by section 902 of P.L. 112-240, apply for
24Wisconsin purposes at the same time as for federal purposes
.
AB40-ASA1,1419 25Section 1419. 71.45 (1t) (L) of the statutes is created to read:
AB40-ASA1,816,5
171.45 (1t) (L) Those issued under s. 231.03 (6), if the bonds or notes are issued
2for the benefit of a person who is eligible to receive the proceeds of bonds or notes from
3another entity for the same purpose for which the bonds or notes are issued under
4s. 231.03 (6) and the interest income received from the other bonds or notes is exempt
5from taxation under this subchapter.
AB40-ASA1,1419d 6Section 1419d. 71.45 (2) (a) 7. of the statutes is amended to read:
AB40-ASA1,816,127 71.45 (2) (a) 7. By For taxable years beginning before January 1, 2014, by
8adding or subtracting, as appropriate, the amount required to reflect the fact that
9property that, under s. 71.01 (4) (g) 7. to 10., 1985 stats., is required to be depreciated
10for taxable years 1983 to 1986 under the internal revenue code as amended to
11December 31, 1980, shall continue to be depreciated under the internal revenue code
12as amended to December 31, 1980.
AB40-ASA1,1419e 13Section 1419e. 71.45 (2) (a) 13. of the statutes is amended to read:
AB40-ASA1,816,2414 71.45 (2) (a) 13. By For taxable years beginning before January 1, 2014, by
15adding or subtracting, as appropriate, the depreciation deduction under the federal
16Internal Revenue Code as amended to December 31, 2000, except that property first
17placed in service by the taxpayer on or after January 1, 1983, but before
18January 1, 1987, that, under s. 71.04 (15) (b) and (br), 1985 stats., is required to be
19depreciated under the Internal Revenue Code as amended to December 31, 1980,
20and property first placed in service in taxable year 1981 or thereafter but before
21January 1, 1987, that, under s. 71.04 (15) (bm), 1985 stats., is required to be
22depreciated under the Internal Revenue Code as amended to December 31, 1980,
23shall continue to be depreciated under the Internal Revenue Code as amended to
24December 31, 1980.
AB40-ASA1,1419f 25Section 1419f. 71.45 (2) (a) 19. of the statutes is created to read:
AB40-ASA1,817,6
171.45 (2) (a) 19. Starting with the first taxable year beginning after December
231, 2013, and for each of the next 4 taxable years, by subtracting 20 percent of the
3amount determined by subtracting the combined federal adjusted basis of all
4depreciated or amortized assets as of the last day of the taxable year beginning in
52013 that are also being depreciated or amortized for Wisconsin from the combined
6Wisconsin adjusted basis of those assets on the same day.
AB40-ASA1,1419h 7Section 1419h. 71.47 (1) (d) of the statutes is created to read:
AB40-ASA1,817,118 71.47 (1) (d) No credit may be claimed under this subsection for taxable years
9beginning after December 31, 2013. Credits under this subsection for taxable years
10that begin before January 1, 2014, may be carried forward to taxable years that begin
11after December 31, 2013.
AB40-ASA1,1420 12Section 1420. 71.47 (1dj) (am) 4h. of the statutes is amended to read:
AB40-ASA1,817,1813 71.47 (1dj) (am) 4h. Modify section 51 (a) of the internal revenue code Internal
14Revenue Code
so that the amount of the credit is 25% of the qualified first-year
15wages if the wages are paid to an applicant for a Wisconsin works Works employment
16position for service either in an unsubsidized position or in a trial job under s. 49.147
17(3), 2011 stats., and so that the amount of the credit is 20% of the qualified first-year
18wages if the wages are not paid to such an applicant.
AB40-ASA1,1421 19Section 1421. 71.47 (1dx) (a) 4. of the statutes is amended to read:
AB40-ASA1,818,220 71.47 (1dx) (a) 4. "Full-time job" means a regular, nonseasonal full-time
21position in which an individual, as a condition of employment, is required to work at
22least 2,080 hours per year, including paid leave and holidays, and for which the
23individual receives pay that is equal to at least 150% of the federal minimum wage
24and receives benefits that are not required by federal or state law. "Full-time job"

1does not include initial training before an employment position begins
has the
2meaning given in s. 238.30 (2m)
.
AB40-ASA1,1422 3Section 1422. 71.47 (1dx) (a) 5. of the statutes is amended to read:
AB40-ASA1,818,174 71.47 (1dx) (a) 5. "Member of a targeted group" means a person who resides
5in an area designated by the federal government as an economic revitalization area,
6a person who is employed in an unsubsidized job but meets the eligibility
7requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position,
8a person who is employed in a trial job, as defined in s. 49.141 (1) (n), 2011 stats., or
9in a real work, real pay project position under s. 49.147 (3m) trial employment match
10program job, as defined in s. 49.141 (1) (n)
, a person who is eligible for child care
11assistance under s. 49.155, a person who is a vocational rehabilitation referral, an
12economically disadvantaged youth, an economically disadvantaged veteran, a
13supplemental security income recipient, a general assistance recipient, an
14economically disadvantaged ex-convict, a qualified summer youth employee, as
15defined in 26 USC 51 (d) (7), a dislocated worker, as defined in 29 USC 2801 (9), or
16a food stamp recipient, if the person has been certified in the manner under sub. (1dj)
17(am) 3. by a designated local agency, as defined in sub. (1dj) (am) 2.
AB40-ASA1,1423 18Section 1423. 71.47 (1dx) (b) 2. of the statutes is amended to read:
AB40-ASA1,818,2319 71.47 (1dx) (b) 2. The amount determined by multiplying the amount
20determined under s. 238.385 (1) (b) or s. 560.785 (1) (b), 2009 stats., by the number
21of full-time jobs created in a development zone and filled by a member of a targeted
22group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or the
23subsidies and reimbursements paid under s. 49.147 (3m) (c)
for those jobs.
AB40-ASA1,1424 24Section 1424. 71.47 (1dx) (b) 3. of the statutes is amended to read:
AB40-ASA1,819,5
171.47 (1dx) (b) 3. The amount determined by multiplying the amount
2determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
3of full-time jobs created in a development zone and not filled by a member of a
4targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or
5the subsidies and reimbursements paid under s. 49.147 (3m) (c)
for those jobs.
AB40-ASA1,1425 6Section 1425. 71.47 (1dx) (b) 4. of the statutes is amended to read:
AB40-ASA1,819,147 71.47 (1dx) (b) 4. The amount determined by multiplying the amount
8determined under s. 238.385 (1) (bm) or s. 560.785 (1) (bm), 2009 stats., by the
9number of full-time jobs retained, as provided in the rules under s. 238.385 or s.
10560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub.
11(1dj), in an enterprise development zone under s. 238.397 or s. 560.797, 2009 stats.,
12and for which significant capital investment was made and by then subtracting the
13subsidies paid under s. 49.147 (3) (a) or the subsidies and reimbursements paid
14under s. 49.147 (3m) (c)
for those jobs.
AB40-ASA1,1426 15Section 1426. 71.47 (1dx) (b) 5. of the statutes is amended to read:
AB40-ASA1,819,2216 71.47 (1dx) (b) 5. The amount determined by multiplying the amount
17determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
18of full-time jobs retained, as provided in the rules under s. 238.385 or s. 560.785,
192009 stats., excluding jobs for which a credit has been claimed under sub. (1dj), in
20a development zone and not filled by a member of a targeted group and by then
21subtracting the subsidies paid under s. 49.147 (3) (a) or the subsidies and
22reimbursements paid under s. 49.147 (3m) (c)
for those jobs.
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