71.47 (3w) (b) 3. Multiply Subtract $30,000 from the amount determined under subd. 2., but not an amount less than zero, by $30,000.
SECTION 27. 71.47 (3w) (b) 4. of the statutes is amended to read:
71.47 (3w) (b) 4. Subtract Multiply the amount determined under subd. 3. from by the amount determined under subd. 1.
SECTION 28. 71.47 (3w) (bm) (intro.) and 4. of the statutes are consolidated, renumbered 71.47 (3w) (bm) and amended to read:
71.47 (3w) (bm) Filing supplemental claims. In addition to the credit under par. (b) and subject to the limitations provided in this subsection and s. 560.799, a claimant may claim as a credit against the tax imposed under s. 71.43 an amount equal to all of the following: 4. The the amount the claimant paid in the taxable year to upgrade or improve the job-related skills of any of the claimant's full-time employees, to train any of the claimant's full-time employees on the use of job-related new technologies, or to train provide job-related training to any full-time employee whose employment with the claimant represents the employee's first full-time job. This subdivision does not apply to employees who do not work in a an enterprise zone.
SECTION 29. 71.47 (3w) (bm) 3. of the statutes is repealed.
SECTION 30. 71.47 (3w) (d) of the statutes is amended to read:
71.47 (3w) (d) Administration. Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits, and a copy of the verification of their expenses, from the department of commerce.
SECTION 31. 560.799 (6) (e) of the statutes is created to read:
560.799 (6) (e) The department shall determine the maximum amount of the tax credits under ss. 71.07 (3w), 71.28 (3w), and 71.47 (3w) that a certified business may claim and shall notify the department of revenue of this amount.
SECTION 32. 560.799 (6) (f) of the statutes is created to read:
560.799 (6) (f) The department shall annually verify the information submitted to the department under ss. 71.07 (3w), 71.28 (3w), or 71.47 (3w).
SECTION 9341. Initial applicability; Revenue.
(1) ENTERPRISE ZONE JOBS CREDIT. The repeal of sections 71.07 (3w) (bm) 3., 71.28 (3w) (bm) 3., and 71.47 (3w) (bm) 3. of the statutes, the consolidation, renumbering and amendment of 71.07 (3w) (bm) (intro.) and 4., 71.28 (3w) (bm) (intro.) and 4., and 71.47 (3w) (bm) (intro.) and 4. of the statutes, the amendment of sections 71.07 (3w) (a) 6., (b) 1. a. and b., 2., 3., and 4., and (d), 71.28 (3w) (a) 6., (b) 1. a. and b., 2., 3., and 4., and (d), and 71.47 (3w) (a) 6., (b) 1. a. and b., 2., 3., and 4., and (d) of the statutes, and the creation of sections 71.07 (3w) (a) 5m., 71.28 (3w) (a) 5m., 71.47 (3w) (a) 5m., and 560.799 (6) (e) and (f) of the statutes first apply to taxable years beginning on July 1, 2007.
(End)
LRB-0723LRB-0723/1
JK:kjf:rs
2007 - 2008 LEGISLATURE
DOA:......Easton, BB0163 - Tax refund setoffs for tribes
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
taxation
Other taxation
Under current law, DOR may enter into agreements with the Internal Revenue Service to offset state tax refunds against federal tax obligations and charge a fee for such setoffs, not to exceed $25 per transaction. In addition, DOR may enter into agreements with other states to offset state tax refunds against the tax obligations of other states. This bill allows DOR to enter into agreements with federally recognized tribes to offset state tax refunds against tribal obligations and charge a fee for such setoffs, not to exceed $25 per transaction.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 73.03 (52n) of the statutes is created to read:
73.03 (52n) To enter into agreements with federally recognized tribes located in this state that provide for offsetting state tax refunds against tribal obligations and to charge a fee up to $25 per transaction for such setoffs. Any legal proceeding to contest a setoff under this subsection shall be commenced only under the process established by the tribe.
(End)
LRB-0724LRB-0724/2
JK:kjf:pg
2007 - 2008 LEGISLATURE
DOA:......Easton, BB0164 - Changes to angel and early stage seed investment credits
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
taxation
Income taxation
This bill makes technical changes to the early stage seed investment and angel investment income and franchise tax credits in order to facilitate the administration of the credits.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 71.07 (5b) (d) of the statutes is renumbered 71.07 (5b) (d) 1.
SECTION 2. 71.07 (5b) (d) 2. of the statutes is created to read:
71.07 (5b) (d) 2. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes. The Wisconsin basis of a partner's interest in a partnership, a member's interest in a limited liability company, or stock in a tax-option corporation shall be adjusted to reflect adjustments made under this subdivision.
SECTION 3. 71.07 (5d) (d) 4. of the statutes is created to read:
71.07 (5d) (d) 4. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes.
SECTION 4. 71.28 (5b) (d) of the statutes is renumbered 71.28 (5b) (d) 1.
SECTION 5. 71.28 (5b) (d) 2. of the statutes is created to read:
71.28 (5b) (d) 2. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes. The Wisconsin basis of a partner's interest in a partnership, a member's interest in a limited liability company, or stock in a tax-option corporation shall be adjusted to reflect adjustments made under this subdivision.
SECTION 6. 71.47 (5b) (d) of the statutes is renumbered 71.47 (5b) (d) 1.
SECTION 7. 71.47 (5b) (d) 2. of the statutes is created to read:
71.47 (5b) (d) 2. The Wisconsin adjusted basis of any investment for which a credit is claimed under par. (b) shall be reduced by the amount of the credit that is offset against Wisconsin income taxes. The Wisconsin basis of a partner's interest in a partnership, a member's interest in a limited liability company, or stock in a tax-option corporation shall be adjusted to reflect adjustments made under this subdivision.
SECTION 9341. Initial applicability; Revenue.
(1) EARLY STAGE SEED AND ANGEL INVESTMENT CREDITS. The renumbering of sections 71.07 (5b) (d), 71.28 (5b) (d), and 71.47 (5b) (d) of the statutes and the creation of sections 71.07 (5b) (d) 2. and (5d) (d) 4., 71.28 (5b) (d) 2., and 71.47 (5b) (d) 2. of the statutes first apply to taxable years beginning on January 1, 2007.
(End)
LRB-0725LRB-0725/3
JK:kjf:jf
2007 - 2008 LEGISLATURE
DOA:......Easton, BB0165 - Sales and use tax exemptions for biotechnology
For 2007-09 Budget -- Not Ready For Introduction
2007 BILL
AN ACT ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
taxation
Other taxation
This bill creates sales and use tax exemptions for machines, equipment, animals, and certain other tangible personal property that are sold to a biotechnology business for use exclusively in research. Under the bill, a biotechnology business is a business that is primarily engaged in the application of biotechnologies that use a living organism or parts of an organism to produce or modify products to improve plants or animals, develop microorganisms for specific uses, identify targets for small molecule pharmaceutical development, or transform biological systems into useful processes and products.
This bill also creates sales and use tax exemptions for machines, equipment, and certain other tangible personal property that are used exclusively in raising animals that are sold primarily to a biotechnology business, a public or private institution of higher education, or a governmental unit for use by any such entity exclusively in research or manufacturing.
This bill will be referred to the Joint Survey Committee on Tax Exemptions for a detailed analysis, which will be printed as an appendix to this bill.
For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. 77.51 (1d) of the statutes is created to read:
77.51 (1d) "Biotechnologies" include recombinant deoxyribonucleic acid techniques, biochemistry, molecular and cellular biology, genetics, genetic engineering, biological cell fusion, and other bioprocesses.
SECTION 2. 77.51 (1e) of the statutes is created to read:
77.51 (1e) "Biotechnology business" means a business, as certified by the department in the manner prescribed by the department, that is primarily engaged in the application of biotechnologies that use a living organism or parts of an organism to produce or modify products to improve plants or animals, develop microorganisms for specific uses, identify targets for small molecule pharmaceutical development, or transform biological systems into useful processes and products.
SECTION 3. 77.54 (53) of the statutes is created to read:
77.54 (53) (a) In this subsection:
1. "Animals" include bacteria, viruses, and other microorganisms.
2. "Manufacturing" has the meaning given in sub. (6m).
3. "Qualified research" means qualified research as defined under section 41 (d) (1) of the Internal Revenue Code, except that research conducted by a public or private institution of higher education or by a governmental unit is "qualified research" if applying the research is intended to be useful in developing a new or improved product or service and the research satisfies section 41 (d) (1) (B) (i) and (C) of the Internal Revenue Code.
(b) The gross receipts from the sale of and the storage, use, or other consumption of:
1. Machines and specific processing equipment, including accessories, attachments, and parts for the machines or equipment, that are used exclusively and directly in raising animals that are sold primarily to a biotechnology business, a public or private institution of higher education, or a governmental unit for exclusive and direct use by any such entity in qualified research or manufacturing.
2. The items listed in sub. (3m) (a) to (m), medicines, semen for artificial insemination, fuel, and electricity that are used exclusively and directly in raising animals that are sold primarily to a biotechnology business, a public or private institution of higher education, or a governmental unit for exclusive and direct use by any such entity in qualified research or manufacturing.
3. Machines and specific processing equipment, including accessories, attachments, and parts for the machines or equipment, that are sold to a biotechnology business and used exclusively and directly in qualified research in biotechnology.
4. Tangible personal property that is sold to a biotechnology business, if the property is consumed or destroyed or loses its identity while being used exclusively and directly in qualified research in biotechnology.
5. Animals that are sold to a biotechnology business and used exclusively and directly in qualified research in biotechnology.
(c) A person who claims an exemption under par. (b) 1. and 2. shall obtain written documentation from the person's customers related to each customer's use of animals, including the percentage of animals sold to the customer that are used exclusively and directly in qualified research.
(d) The department shall publish on the department's Internet site a list of all biotechnology businesses certified by the department.
SECTION 9441. Effective dates; Revenue.
(1) The treatment of section 77.51 (1d), and (1e) and 77.54 (53) of the statutes takes effect on the first day of the 2nd month beginning after publication.
(End)
LRB-0727LRB-0727/1
JK:kjf:rs
2007 - 2008 LEGISLATURE
DOA:......Easton, BB0169 - Repeal lottery and gaming credit administration appropriation
For 2007-09 Budget -- Not Ready For Introduction
