AB100-engrossed,1118,21
171.22 (4m) (e) For taxable years that begin after December 31, 1991, and before
2January 1, 1993, "internal revenue code", for corporations that are subject to a tax
3on unrelated business income under s. 71.26 (1) (a), means the federal internal
4revenue code as amended to December 31, 1991, excluding sections 103, 104 and 110
5of P.L. 102-227, and as amended by P.L. 102-318, P.L. 102-486 and, P.L. 103-66,
6excluding sections 13101 (a) and (c) 1, 13171 and 13174 of P.L. 103-66 , and P.L.
7104-188, excluding section 1311 of P.L. 104-188
, and as indirectly affected in the
8provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647,
9P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
10excluding sections 103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486 and,
11P.L. 103-66, excluding sections 13101 (a) and (c) 1, 13171 and 13174 of P.L. 103-66,
12and P.L. 104-188, excluding section 1311 of P.L. 104-188
. The internal revenue code
13applies for Wisconsin purposes at the same time as for federal purposes.
14Amendments to the internal revenue code enacted after December 31, 1991, do not
15apply to this paragraph with respect to taxable years beginning after December 31,
161991, and before January 1, 1993, except that changes to the internal revenue code
17made by P.L. 102-318, P.L. 102-486 and, P.L. 103-66 and P.L. 104-188, excluding
18section 1311 of P.L. 104-188,
and changes that indirectly affect the provisions
19applicable to this subchapter made by P.L. 102-318, P.L. 102-486 and, P.L. 103-66
20and P.L. 104-188, excluding section 1311 of P.L. 104-188, apply for Wisconsin
21purposes at the same time as for federal purposes.
AB100-engrossed, s. 2269no 22Section 2269no. 71.22 (4m) (f) of the statutes is amended to read:
AB100-engrossed,1119,1823 71.22 (4m) (f) For taxable years that begin after December 31, 1992, and before
24January 1, 1994, "internal revenue code", for corporations that are subject to a tax
25on unrelated business income under s. 71.26 (1) (a), means the federal internal

1revenue code as amended to December 31, 1992, excluding sections 103, 104 and 110
2of P.L. 102-227, and as amended by P.L. 103-66, excluding sections 13101 (a) and (c)
31, 13113, 13150, 13171, 13174 and 13203 of P.L. 103-66, and P.L. 103-465, and P.L.
4104-188, excluding section 1311 of P.L. 104-188,
and as indirectly affected in the
5provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647,
6P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
7excluding sections 103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.
8103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and 13203
9of P.L. 103-66 and, P.L. 103-465 and P.L. 104-188, excluding section 1311 of P.L.
10104-188
. The internal revenue code applies for Wisconsin purposes at the same time
11as for federal purposes. Amendments to the internal revenue code enacted after
12December 31, 1992, do not apply to this paragraph with respect to taxable years
13beginning after December 31, 1992, and before January 1, 1994, except that changes
14to the internal revenue code made by P.L. 103-66 and, P.L. 103-465 and P.L.
15104-188, excluding section 1311 of P.L. 104-188,
and changes that indirectly affect
16the provisions applicable to this subchapter made by P.L. 103-66 and, P.L. 103-465
17and P.L. 104-188, excluding section 1311 of P.L. 104-188, apply for Wisconsin
18purposes at the same time as for federal purposes.
AB100-engrossed, s. 2269p 19Section 2269p. 71.22 (4m) (g) of the statutes is amended to read:
AB100-engrossed,1120,2020 71.22 (4m) (g) For taxable years that begin after December 31, 1993, and
21before January 1, 1995, "internal revenue code", for corporations that are subject to
22a tax on unrelated business income under s. 71.26 (1) (a), means the federal internal
23revenue code as amended to December 31, 1993, excluding sections 103, 104 and 110
24of P.L. 102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215
25of P.L. 103-66, and as amended by P.L. 103-296, P.L. 103-337, P.L. 103-465 and, P.L.

1104-7, excluding section 1 of P.L. 104-7, P.L. 104-188, excluding section 1311 of P.L.
2104-188, P.L. 104-191 and P.L. 104-193
and as indirectly affected in the provisions
3applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L.
4101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
5excluding sections 103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.
6103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215
7of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7, excluding
8section 1 of P.L. 104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L.
9104-191 and P.L. 104-193
. The internal revenue code applies for Wisconsin
10purposes at the same time as for federal purposes. Amendments to the internal
11revenue code enacted after December 31, 1993, do not apply to this paragraph with
12respect to taxable years beginning after December 31, 1993, and before
13January 1, 1995, except that changes to the internal revenue code made by P.L.
14103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7, excluding section 1 of P.L.
15104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L. 104-191 and P.L.
16104-193
and changes that indirectly affect the provisions applicable to this
17subchapter made by P.L. 103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7,
18excluding section 1 of P.L. 104-7, P.L. 104-188, excluding section 1311 of P.L.
19104-188, P.L. 104-191 and P.L. 104-193
apply for Wisconsin purposes at the same
20time as for federal purposes.
AB100-engrossed, s. 2269q 21Section 2269q. 71.22 (4m) (h) of the statutes is amended to read:
AB100-engrossed,1121,1922 71.22 (4m) (h) For taxable years that begin after December 31, 1994, and
23before January 1, 1996, "internal revenue code", for corporations that are subject to
24a tax on unrelated business income under s. 71.26 (1) (a), means the federal internal
25revenue code as amended to December 31, 1994, excluding sections 103, 104 and 110

1of P.L. 102-227 and sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
2103-66, and as amended by P.L. 104-7, P.L. 104-188, excluding sections 1202, 1204,
31311 and 1605 of P.L. 104-188, P.L. 104-191 and P.L. 104-193
and as indirectly
4affected in the provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203,
5P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508,
6P.L. 102-227, 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 and, P.L. 104-7,
9P.L. 104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L.
10104-191 and P.L. 104-193
. The internal revenue code applies for Wisconsin
11purposes at the same time as for federal purposes. Amendments to the internal
12revenue code enacted after December 31, 1994, do not apply to this paragraph with
13respect to taxable years beginning after December 31, 1994, and before
14January 1, 1996, except that changes to the internal revenue code made by P.L.
15104-7, P.L. 104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L. 104-188,
16P.L. 104-191 and P.L. 104-193
, and changes that indirectly affect the provisions
17applicable to this subchapter made by P.L. 104-7. P.L. 104-188, excluding sections
181202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191 and P.L. 104-193
apply for
19Wisconsin purposes at the same time as for federal purposes.
AB100-engrossed, s. 2269r 20Section 2269r. 71.22 (4m) (i) of the statutes is amended to read:
AB100-engrossed,1122,1821 71.22 (4m) (i) For taxable years that begin after December 31, 1995, and before
22January 1, 1997,
"internal revenue code", for corporations that are subject to a tax
23on unrelated business income under s. 71.26 (1) (a), means the federal internal
24revenue code as amended to December 31, 1995, excluding sections 103, 104 and 110
25of P.L. 102-227 and sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.

1103-66, and as amended by P.L. 104-188, excluding sections 1123, 1202, 1204, 1311
2and 1605 of P.L. 104-188, P.L. 104-191 and P.L. 104-193
and as indirectly affected
3in the provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L.
4100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L.
5102-227, excluding sections 103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L.
6102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and
713203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7,
8P.L. 104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L. 104-188,
9P.L. 104-191 and P.L. 104-193
. The internal revenue code applies for Wisconsin
10purposes at the same time as for federal purposes. Amendments to the internal
11revenue code enacted after December 31, 1995, do not apply to this paragraph with
12respect to taxable years beginning after December 31, 1995, and before January 1,
131997 except that changes to the Internal Revenue Code made by P.L. 104-188,
14excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191 and
15P.L. 104-193 and changes that indirectly affect the provisions applicable to this
16subchapter made by P.L. 104-188, excluding sections 1123, 1202, 1204, 1311 and
171605 of P.L. 104-188, P.L. 104-191 and P.L. 104-193 apply for Wisconsin purposes
18at the same time as for federal purposes
.
AB100-engrossed, s. 2269t 19Section 2269t. 71.22 (4m) (j) of the statutes is created to read:
AB100-engrossed,1123,1020 71.22 (4m) (j) For taxable years that begin after December 31, 1996, "Internal
21Revenue Code", for corporations that are subject to a tax on unrelated business
22income under s. 71.26 (1) (a), means the federal Internal Revenue Code as amended
23to December 31, 1996, 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, and sections 1123
25(b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L. 104-188 and as indirectly affected in

1the 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 and P.L. 104-193. The Internal Revenue Code applies for
8Wisconsin purposes at the same time as for federal purposes. Amendments to the
9Internal Revenue Code enacted after December 31, 1996, do not apply to this
10paragraph with respect to taxable years beginning after December 31, 1996.
AB100-engrossed, s. 2270 11Section 2270. 71.22 (8) of the statutes is repealed and recreated to read:
AB100-engrossed,1123,1312 71.22 (8) "Pay", in regard to submissions to persons other than the department,
13has the meaning appropriate to the taxpayer's method of accounting.
AB100-engrossed, s. 2271 14Section 2271. 71.22 (9m) of the statutes is created to read:
AB100-engrossed,1123,1615 71.22 (9m) "Subscribe" means write one's signature or, if the department
16prescribes another method of authenticating, use that other method.
AB100-engrossed, s. 2272 17Section 2272. 71.24 (8) of the statutes is repealed.
AB100-engrossed, s. 2274 18Section 2274. 71.26 (2) (a) of the statutes is amended to read:
AB100-engrossed,1124,819 71.26 (2) (a) Corporations in general. The "net income" of a corporation means
20the gross income as computed under the internal revenue code as modified under
21sub. (3) minus the amount of recapture under s. 71.28 (1di) plus the amount of credit
22computed under s. 71.28 (1) and (3) to (5) plus the amount of the credit computed
23under s. 71.28 (1dd), (1de), (1di), (1dj), (1dL) and, (1ds) and (1dx) and not passed
24through by a partnership, limited liability company or tax-option corporation that
25has added that amount to the partnership's, limited liability company's or tax-option

1corporation's income under s. 71.21 (4) or 71.34 (1) (g) plus the amount of losses from
2the sale or other disposition of assets the gain from which would be wholly exempt
3income, as defined in sub. (3) (L), if the assets were sold or otherwise disposed of at
4a gain and minus deductions, as computed under the internal revenue code as
5modified under sub. (3), plus or minus, as appropriate, an amount equal to the
6difference between the federal basis and Wisconsin basis of any asset sold,
7exchanged, abandoned or otherwise disposed of in a taxable transaction during the
8taxable year, except as provided in par. (b) and s. 71.45 (2) and (5).
AB100-engrossed, s. 2274b 9Section 2274b. 71.26 (2) (b) (title) of the statutes is amended to read:
AB100-engrossed,1124,1210 71.26 (2) (b) (title) Regulated investment companies, real estate mortgage
11investment conduits
and, real estate investment trusts and financial asset
12securitization investment trusts
.
AB100-engrossed, s. 2274bg 13Section 2274bg. 71.26 (2) (b) 4. of the statutes is repealed.
AB100-engrossed, s. 2274c 14Section 2274c. 71.26 (2) (b) 5. of the statutes is amended to read:
AB100-engrossed,1126,315 71.26 (2) (b) 5. For taxable years that begin after December 31, 1989, and before
16January 1, 1991, for a corporation, conduit or common law trust which qualifies as
17a regulated investment company, real estate mortgage investment conduit or real
18estate investment trust under the internal revenue code as amended to December
1931, 1989, and as amended by P.L. 101-508, P.L. 102-227 and , P.L. 103-66 and P.L.
20104-188, excluding section 1311 of P.L. 104-188
and as indirectly affected in the
21provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647,
22P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227
23and, P.L. 103-66 and P.L. 104-188, excluding section 1311 of P.L. 104-188, "net
24income" means the federal regulated investment company taxable income, federal
25real estate mortgage investment conduit taxable income or federal real estate

1investment trust taxable income of the corporation, conduit or trust as determined
2under the internal revenue code as amended to December 31, 1989, and as amended
3by P.L. 101-508, P.L. 102-227 and, P.L. 103-66 and P.L. 104-188, excluding section
41311 of P.L. 104-188,
and as indirectly affected in the provisions applicable to this
5subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140,
6P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227 and , P.L. 103-66 and P.L.
7104-188, excluding section 1311 of P.L. 104-188,
except that property that, under s.
871.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983
9to 1986 under the internal revenue code as amended to December 31, 1980, shall
10continue to be depreciated under the internal revenue code as amended to December
1131, 1980, and except that the appropriate amount shall be added or subtracted to
12reflect differences between the depreciation or adjusted basis for federal income tax
13purposes and the depreciation or adjusted basis under this chapter of any property
14disposed of during the taxable year. The internal revenue code as amended to
15December 31, 1989, and as amended by P.L. 101-508, P.L. 102-227 and, P.L. 103-66
16and P.L. 104-188, excluding section 1311 of P.L. 104-188, and as indirectly affected
17in the provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L.
18100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L.
19102-227 and, P.L. 103-66 and P.L. 104-188, excluding section 1311 of P.L. 104-188,
20applies for Wisconsin purposes at the same time as for federal purposes.
21Amendments to the internal revenue code enacted after December 31, 1989, do not
22apply to this subdivision with respect to taxable years that begin after December 31,
231989, and before January 1, 1991, except that changes to the internal revenue code
24made by P.L. 101-508, P.L. 102-227 and, P.L. 103-66 and P.L. 104-188, excluding
25section 1311 of P.L. 104-188,
and changes that indirectly affect the provisions

1applicable to this subchapter made by P.L. 101-508, P.L. 102-227 and, P.L. 103-66
2and P.L. 104-188, excluding section 1311 of P.L. 104-188, apply for Wisconsin
3purposes at the same time as for federal purposes.
AB100-engrossed, s. 2274d 4Section 2274d. 71.26 (2) (b) 6. of the statutes is amended to read:
AB100-engrossed,1127,195 71.26 (2) (b) 6. For taxable years that begin after December 31, 1990, and before
6January 1, 1992, for a corporation, conduit or common law trust which qualifies as
7a regulated investment company, real estate mortgage investment conduit or real
8estate investment trust under the internal revenue code as amended to December
931, 1990, and as amended by P.L. 102-227, P.L. 102-486 and , P.L. 103-66 and P.L.
10104-188, excluding section 1311 of P.L. 104-188,
and as indirectly affected in the
11provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647,
12P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
13P.L. 102-486 and, P.L. 103-66 and P.L. 104-188, excluding section 1311 of P.L.
14104-188,
"net income" means the federal regulated investment company taxable
15income, federal real estate mortgage investment conduit taxable income or federal
16real estate investment trust taxable income of the corporation, conduit or trust as
17determined under the internal revenue code as amended to December 31, 1990, and
18as amended by P.L. 102-227, P.L. 102-486 and, P.L. 103-66 and P.L. 104-188,
19excluding section 1311 of P.L. 104-188,
and as indirectly affected in the provisions
20applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L.
21101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, P.L.
22102-486 and, P.L. 103-66 and P.L. 104-188, excluding section 1311 of P.L. 104-188,
23except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is required to
24be depreciated for taxable years 1983 to 1986 under the internal revenue code as
25amended to December 31, 1980, shall continue to be depreciated under the internal

1revenue code as amended to December 31, 1980, and except that the appropriate
2amount shall be added or subtracted to reflect differences between the depreciation
3or adjusted basis for federal income tax purposes and the depreciation or adjusted
4basis under this chapter of any property disposed of during the taxable year. The
5internal revenue code as amended to December 31, 1990, and as amended by P.L.
6102-227, P.L. 102-486 and, P.L. 103-66 and P.L. 104-188, excluding section 1311 of
7P.L. 104-188,
and as indirectly affected in the provisions applicable to this
8subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140,
9P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, P.L. 102-486 and, P.L.
10103-66 and P.L. 104-188, excluding section 1311 of P.L. 104-188, applies for
11Wisconsin purposes at the same time as for federal purposes. Amendments to the
12internal revenue code enacted after December 31, 1990, do not apply to this
13subdivision with respect to taxable years that begin after December 31, 1990, and
14before January 1, 1992, except that changes to the internal revenue code made by
15P.L. 102-227, P.L. 102-486 and. P.L. 103-66 and P.L. 104-188, excluding section
161311 of P.L. 104-188,
and changes that indirectly affect the provisions applicable to
17this subchapter made by P.L. 102-227, P.L. 102-486 and , P.L. 103-66 and P.L.
18104-188, excluding section 1311 of P.L. 104-188,
apply for Wisconsin purposes at the
19same time as for federal purposes.
AB100-engrossed, s. 2274e 20Section 2274e. 71.26 (2) (b) 7. of the statutes is amended to read:
AB100-engrossed,1129,1921 71.26 (2) (b) 7. For taxable years that begin after December 31, 1991, and before
22January 1, 1993, for a corporation, conduit or common law trust which qualifies as
23a regulated investment company, real estate mortgage investment conduit or real
24estate investment trust under the internal revenue code as amended to December
2531, 1991, excluding sections 103, 104 and 110 of P.L. 102-227, and as amended by P.L.

1102-318, P.L. 102-486 and, P.L. 103-66, excluding sections 13101 (a) and (c) 1, 13171
2and 13174 of P.L. 103-66 and P.L. 104-188, excluding section 1311 of P.L. 104-188,
3and as indirectly affected in the provisions applicable to this subchapter by P.L.
499-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L.
5101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104 and 110 of P.L.
6102-227, P.L. 102-318, P.L. 102-486 and, P.L. 103-66, excluding sections 13101 (a)
7and (c) 1, 13171 and 13174 of P.L. 103-66, and P.L. 104-188, excluding section 1311
8of P.L. 104-188
, "net income" means the federal regulated investment company
9taxable income, federal real estate mortgage investment conduit taxable income or
10federal real estate investment trust taxable income of the corporation, conduit or
11trust as determined under the internal revenue code as amended to December 31,
121991, excluding sections 103, 104 and 110 of P.L. 102-227, and as amended by P.L.
13102-318, P.L. 102-486 and, P.L. 103-66, excluding sections 13101 (a) and (c) 1, 13171
14and 13174 of P.L. 103-66, and P.L. 104-188, excluding section 1311 of P.L. 104-188,
15and as indirectly affected in the provisions applicable to this subchapter by P.L.
1699-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L.
17101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104 and 110 of P.L.
18102-227, P.L. 102-318, P.L. 102-486 and, P.L. 103-66, excluding sections 13101 (a)
19and (c) 1, 13171 and 13174 of P.L. 103-66, and P.L. 104-188, excluding section 1311
20of P.L. 104-188,
except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats.,
21is required to be depreciated for taxable years 1983 to 1986 under the internal
22revenue code as amended to December 31, 1980, shall continue to be depreciated
23under the internal revenue code as amended to December 31, 1980, and except that
24the appropriate amount shall be added or subtracted to reflect differences between
25the depreciation or adjusted basis for federal income tax purposes and the

1depreciation or adjusted basis under this chapter of any property disposed of during
2the taxable year. The internal revenue code as amended to December 31, 1991,
3excluding sections 103, 104 and 110 of P.L. 102-227, and as amended by P.L.
4102-318, P.L. 102-486 and, P.L. 103-66, excluding sections 13101 (a) and (c) 1, 13171
5and 13174 of P.L. 103-66, and P.L. 104-188, excluding section 1311 of P.L. 104-188,
6and as indirectly affected in the provisions applicable to this subchapter by P.L.
799-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L.
8101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104 and 110 of P.L.
9102-227, P.L. 102-318, P.L. 102-486 and, P.L. 103-66, excluding sections 13101 (a)
10and (c) 1, 13171 and 13174 of P.L. 103-66, and P.L. 104-188, excluding section 1311
11of P.L. 104-188,
applies for Wisconsin purposes at the same time as for federal
12purposes. Amendments to the internal revenue code enacted after December 31,
131991, do not apply to this subdivision with respect to taxable years that begin after
14December 31, 1991, and before January 1, 1993, except that changes to the internal
15revenue code made by P.L. 102-318, P.L. 102-486 and, P.L. 103-66 and P.L. 104-188,
16excluding section 1311 of P.L. 104-188,
and changes that indirectly affect the
17provisions applicable to this subchapter made by P.L. 102-318, P.L. 102-486 and,
18P.L. 103-66 and P.L. 104-188, excluding section 1311 of P.L. 104-188, apply for
19Wisconsin purposes at the same time as for federal purposes.
AB100-engrossed, s. 2274f 20Section 2274f. 71.26 (2) (b) 8. of the statutes is amended to read:
AB100-engrossed,1131,2121 71.26 (2) (b) 8. For taxable years that begin after December 31, 1992, and before
22January 1, 1994, for a corporation, conduit or common law trust which qualifies as
23a regulated investment company, real estate mortgage investment conduit or real
24estate investment trust under the internal revenue code as amended to December
2531, 1992, excluding sections 103, 104 and 110 of P.L. 102-227, and as amended by P.L.

1103-66, excluding sections 13101 (a) and (c) 1., 13113, 13150, 13171, 13174 and
213203 of P.L. 103-66, and P.L. 103-465 and P.L. 104-188, excluding section 1311 of
3P.L. 104-188,
and as indirectly affected in the provisions applicable to this
4subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140,
5P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104
6and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections
713101 (a) and (c) 1, 13113, 13150, 13171, 13174 and 13203 of P.L. 103-66, and P.L.
8103-465 and P.L. 104-188, excluding section 1311 of P.L. 104-188,"net income"
9means the federal regulated investment company taxable income, federal real estate
10mortgage investment conduit taxable income or federal real estate investment trust
11taxable income of the corporation, conduit or trust as determined under the internal
12revenue code as amended to December 31, 1992, excluding sections 103, 104 and 110
13of P.L. 102-227, and as amended by P.L. 103-66, and P.L. 103-465 excluding sections
1413101 (a) and (c) 1, 13113, 13150, 13171, 13174 and 13203 of P.L. 103-66, P.L.
15103-465 and P.L. 104-188, excluding section 1311 of P.L. 104-188,
and as indirectly
16affected in the provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203,
17P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508,
18P.L. 102-227, excluding sections 103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L.
19102-486 and, P.L. 103-66, excluding sections 13101 (a) and (c) 1., 13113, 13150,
2013171, 13174 and 13203 of P.L. 103-66, and P.L. 103-465 and P.L. 104-188,
21excluding section 1311 of P.L. 104-188,
except that property that, under s. 71.02 (1)
22(c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986
23under the internal revenue code as amended to December 31, 1980, shall continue
24to be depreciated under the internal revenue code as amended to December 31, 1980,
25and except that the appropriate amount shall be added or subtracted to reflect

1differences between the depreciation or adjusted basis for federal income tax
2purposes and the depreciation or adjusted basis under this chapter of any property
3disposed of during the taxable year. The internal revenue code as amended to
4December 31, 1992, excluding sections 103, 104 and 110 of P.L. 102-227, and as
5amended by P.L. 103-66, excluding sections 13101 (a) and (c) 1, 13113, 13150, 13171,
613174 and 13203 of P.L. 103-66, and P.L. 103-465 and P.L. 104-188, excluding
7section 1311 of P.L. 104-188,
and as indirectly affected in the provisions applicable
8to this subchapter by P.L. 99-514, P.L. 100-203, 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 13101 (a) and (c) 1, 13113, 13150, 13171, 13174 and 13203 of P.L. 103-66,
12and P.L. 103-465 and P.L. 104-188, excluding section 1311 of P.L. 104-188, applies
13for Wisconsin purposes at the same time as for federal purposes. Amendments to the
14internal revenue code enacted after December 31, 1992, do not apply to this
15subdivision with respect to taxable years that begin after December 31, 1992, and
16before January 1, 1994, except that changes to the internal revenue code made by
17P.L. 103-66 and, P.L. 103-465 and P.L. 104-188, excluding section 1311 of P.L.
18104-188,
and changes that indirectly affect the provisions applicable to this
19subchapter made by P.L. 103-66 and, P.L. 103-465 and P.L. 104-188, excluding
20section 1311 of P.L. 104-188,
apply for Wisconsin purposes at the same time as for
21federal purposes.
AB100-engrossed, s. 2274g 22Section 2274g. 71.26 (2) (b) 9. of the statutes is amended to read:
AB100-engrossed,1134,723 71.26 (2) (b) 9. For taxable years that begin after December 31, 1993, and
24before January 1, 1995, for a corporation, conduit or common law trust which
25qualifies as a regulated investment company, real estate mortgage investment

1conduit or real estate investment trust under the internal revenue code as amended
2to December 31, 1993, excluding sections 103, 104 and 110 of P.L. 102-227 and
3sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L. 103-66, and
4as amended by P.L. 103-296, P.L. 103-337, P.L. 103-465 and , P.L. 104-7, excluding
5section 1 of P.L. 104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L.
6104-191 and P.L. 104-193
and as indirectly affected in the provisions applicable to
7this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L.
8101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections
9103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
10sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L. 103-66, P.L.
11103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7, excluding section 1 of P.L.
12104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L. 104-191 and P.L.
13104-193
"net income" means the federal regulated investment company taxable
14income, federal real estate mortgage investment conduit taxable income or federal
15real estate investment trust taxable income of the corporation, conduit or trust as
16determined under the internal revenue code as amended to December 31, 1993,
17excluding sections 103, 104 and 110 of P.L. 102-227 and sections 13113, 13150 (d),
1813171 (d), 13174, 13203 (d) and 13215 of P.L. 103-66, and as amended by P.L.
19103-296, P.L. 103-337, P.L. 103-465 and P.L. 104-7, excluding section 1 of P.L.
20104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L. 104-191 and P.L.
21104-193
and as indirectly affected in the provisions applicable to this subchapter by
22P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179,
23P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104 and 110 of P.L.
24102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L.
25103-465
excluding sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215

1of P.L. 103-66, and P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, excluding
2section 1 of P.L. 104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L.
3104-191 and P.L. 104-193,
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, and
7except 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, 1993, excluding sections 103, 104 and 110 of P.L. 102-227 and sections
1213113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L. 103-66, and as
13amended by P.L. 103-296, P.L. 103-337, P.L. 103-465 and , P.L. 104-7, excluding
14section 1 of P.L. 104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L.
15104-191 and P.L. 104-193
and as indirectly affected in the provisions applicable to
16this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L.
17101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections
18103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
19sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d) and 13215 of P.L. 103-66, P.L.
20103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7, excluding section 1 of P.L.
21104-7, P.L. 104-188, excluding section 1311 of P.L. 104-188, P.L. 104-191 and P.L.
22104-193
applies for Wisconsin purposes at the same time as for federal purposes.
23Amendments to the internal revenue code enacted after December 31, 1993, do not
24apply to this subdivision with respect to taxable years that begin after
25December 31, 1993, and before January 1, 1995, except that changes to the internal

1revenue code made by P.L. 103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7,
2excluding section 1 of P.L. 104-7, P.L. 104-188, excluding section 1311 of P.L.
3104-188, P.L. 104-191 and P.L. 104-193
and changes that indirectly affect the
4provisions applicable to this subchapter made by P.L. 103-296, P.L. 103-337, P.L.
5103-465 and, P.L. 104-7, excluding section 1 of P.L. 104-7, P.L. 104-188, excluding
6section 1311 of P.L. 104-188, P.L.104-191 and P.L. 104-193
apply for Wisconsin
7purposes at the same time as for federal purposes.
AB100-engrossed, s. 2274h 8Section 2274h. 71.26 (2) (b) 10. of the statutes is amended to read:
AB100-engrossed,1136,139 71.26 (2) (b) 10. For taxable years that begin after December 31, 1994, and
10before January 1, 1996, for a corporation, conduit or common law trust which
11qualifies as a regulated investment company, real estate mortgage investment
12conduit or real estate investment trust under the internal revenue code as amended
13to December 31, 1994, excluding sections 103, 104 and 110 of P.L. 102-227 and
14sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L. 103-66, and as
15amended by P.L. 104-7, P.L. 104-188, excluding sections 1202, 1204, 1311 and 1605
16of P.L. 104-188, P.L. 104-191 and P.L. 104-193
and as indirectly affected in the
17provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647,
18P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
19excluding sections 103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.
20103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
21103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7, P.L. 104-188,
22excluding sections 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191 and P.L.
23104-193
"net income" means the federal regulated investment company taxable
24income, federal real estate mortgage investment conduit taxable income or federal
25real estate investment trust taxable income of the corporation, conduit or trust as

1determined under the internal revenue code as amended to December 31, 1994,
2excluding sections 103, 104 and 110 of P.L. 102-227 and sections 13113, 13150 (d),
313171 (d), 13174 and 13203 (d) of P.L. 103-66, and as amended by P.L. 104-7, P.L.
4104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191
5and P.L. 104-193
and as indirectly affected in the provisions applicable to this
6subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140,
7P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104
8and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, P.L. 103-296, P.L.
9103-337, P.L. 103-465
excluding sections 13113, 13150 (d), 13171 (d), 13174 and
1013203 (d) of P.L. 103-66, and P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7,
11P.L. 104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L.
12104-191 and P.L. 104-193,
except that property that, under s. 71.02 (1) (c) 8. to 11.,
131985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
14internal revenue code as amended to December 31, 1980, shall continue to be
15depreciated under the internal revenue code as amended to December 31, 1980, and
16except that the appropriate amount shall be added or subtracted to reflect
17differences between the depreciation or adjusted basis for federal income tax
18purposes and the depreciation or adjusted basis under this chapter of any property
19disposed of during the taxable year. The internal revenue code as amended to
20December 31, 1994, excluding sections 103, 104 and 110 of P.L. 102-227 and sections
2113113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L. 103-66, and as amended by
22P.L. 104-7, P.L. 104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L.
23104-188, P.L. 104-191 and P.L. 104-193
and as indirectly affected in the provisions
24applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L.
25101-73, 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 and, P.L. 104-7, P.L. 104-188,
4excluding sections 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191 and P.L.
5104-193
applies for Wisconsin purposes at the same time as for federal purposes.
6Amendments to the internal revenue code enacted after December 31, 1994, do not
7apply to this subdivision with respect to taxable years that begin after
8December 31, 1994, and before January 1, 1996, except that changes made by P.L.
9104-7, P.L. 104-188, excluding sections 1202, 1204, 1311 and 1605 of P.L. 104-188,
10P.L. 104-191 and P.L. 104-193
and changes that indirectly affect the provisions
11applicable to this subchapter made by P.L. 104-7, P.L. 104-188, excluding sections
121202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191 and P.L. 104-193
apply for
13Wisconsin purposes at the same time as for federal purposes.
AB100-engrossed, s. 2274i 14Section 2274i. 71.26 (2) (b) 11. of the statutes is amended to read:
AB100-engrossed,1138,1915 71.26 (2) (b) 11. For taxable years that begin after December 31, 1995, and
16before January 1, 1997,
for a corporation, conduit or common law trust which
17qualifies as a regulated investment company, real estate mortgage investment
18conduit or real estate investment trust under the internal revenue code as amended
19to December 31, 1995, excluding sections 103, 104 and 110 of P.L. 102-227 and
20sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L. 103-66, and as
21amended by P.L. 104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
22104-188, P.L. 104-191 and P.L. 104-193
and as indirectly affected in the provisions
23applicable to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L.
24101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227,
25excluding sections 103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L.

1103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L.
2103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7, P.L. 104-188,
3excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191 and
4P.L. 104-193
"net income" means the federal regulated investment company taxable
5income, federal real estate mortgage investment conduit taxable income or federal
6real estate investment trust taxable income of the corporation, conduit or trust as
7determined under the internal revenue code as amended to December 31, 1995,
8excluding sections 103, 104 and 110 of P.L. 102-227 and sections 13113, 13150 (d),
913171 (d), 13174 and 13203 (d) of P.L. 103-66, and as amended by P.L. 104-188,
10excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191 and
11P.L. 104-193
and as indirectly affected in the provisions applicable to this
12subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140,
13P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104
14and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, P.L. 103-296, P.L.
15103-337, P.L. 103-465 and P.L. 104-7
excluding sections 13113, 13150 (d), 13171 (d),
1613174 and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L.
17104-7, P.L. 104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L.
18104-188, P.L. 104-191, and P.L. 104-193,
except that property that, under s. 71.02
19(1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986
20under the internal revenue code as amended to December 31, 1980, shall continue
21to be depreciated under the internal revenue code as amended to December 31, 1980,
22and except that the appropriate amount shall be added or subtracted to reflect
23differences between the depreciation or adjusted basis for federal income tax
24purposes and the depreciation or adjusted basis under this chapter of any property
25disposed of during the taxable year. The internal revenue code as amended to

1December 31, 1995, excluding sections 103, 104 and 110 of P.L. 102-227 and sections
213113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L. 103-66, and as amended by
3P.L. 104-188, excluding sections 1123, 1202, 1204, 1311 and 1605 of P.L. 104-188,
4P.L. 104-191 and P.L. 104-193
and as indirectly affected in the provisions applicable
5to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L.
6101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections
7103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
8sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L. 103-66, P.L.
9103-296, P.L. 103-337, P.L. 103-465 and, P.L. 104-7, P.L. 104-188, excluding
10sections 1123, 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191 and P.L.
11104-193
applies for Wisconsin purposes at the same time as for federal purposes.
12Amendments to the internal revenue code enacted after December 31, 1995, do not
13apply to this subdivision with respect to taxable years that begin after
14December 31, 1995, and before January 1, 1997, except that changes to the Internal
15Revenue Code made by P.L. 104-188, excluding sections 1123, 1202, 1204, 1311 and
161605 of P.L. 104-188, P.L. 104-191 and P.L. 104-193 and changes that indirectly
17affect the provisions applicable to this subchapter made by P.L. 104-188, excluding
18sections 1123, 1202, 1204, 1311 and 1605 of P.L. 104-188, P.L. 104-191 and P.L.
19104-193 apply for Wisconsin purposes at the same time as for federal purposes
.
AB100-engrossed, s. 2274j 20Section 2274j. 71.26 (2) (b) 12. of the statutes is created to read:
AB100-engrossed,1140,1721 71.26 (2) (b) 12. For taxable years that begin after December 31, 1996, for a
22corporation, conduit or common law trust which qualifies as a regulated investment
23company, real estate mortgage investment conduit, real estate investment trust or
24financial asset securitization investment trust under the Internal Revenue Code as
25amended to December 31, 1996, excluding sections 103, 104 and 110 of P.L. 102-227,

1sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L. 103-66 and sections
21123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L. 104-188, and as indirectly
3affected in the provisions applicable to this subchapter by P.L. 99-514, P.L. 100-203,
4P.L. 100-647, P.L. 101-73, P.L. 101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508,
5P.L. 102-227, excluding sections 103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L.
6102-486, P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174 and
713203 (d) of P.L. 103-66, P.L. 103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L.
8104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L.
9104-188, P.L. 104-191 and P.L. 104-193 "net income" means the federal regulated
10investment company taxable income, federal real estate mortgage investment
11conduit taxable income, federal real estate investment trust or financial asset
12securitization investment trust taxable income of the corporation, conduit or trust
13as determined under the internal revenue code as amended to December 31, 1996,
14excluding sections 103, 104 and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171
15(d), 13174 and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311
16and 1605 (d) of P.L. 104-188, and as indirectly affected in the provisions applicable
17to this subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L.
18101-140, P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections
19103, 104 and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding
20sections 13113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L. 103-66, P.L.
21103-296, P.L. 103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections
221123 (b), 1202 (c), 1204 (f), 1311 and 1605 (d) of P.L. 104-188, P.L. 104-191 and P.L.
23104-193, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is
24required to be depreciated for taxable years 1983 to 1986 under the internal revenue
25code as amended to December 31, 1980, shall continue to be depreciated under the

1Internal Revenue Code as amended to December 31, 1980, and except that the
2appropriate amount shall be added or subtracted to reflect differences between the
3depreciation or adjusted basis for federal income tax purposes and the depreciation
4or adjusted basis under this chapter of any property disposed of during the taxable
5year. The Internal Revenue Code as amended to December 31, 1996, excluding
6sections 103, 104 and 110 of P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174
7and 13203 (d) of P.L. 103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311 and 1605
8(d) of P.L. 104-188, and as indirectly affected in the provisions applicable to this
9subchapter by P.L. 99-514, P.L. 100-203, P.L. 100-647, P.L. 101-73, P.L. 101-140,
10P.L. 101-179, P.L. 101-239, P.L. 101-508, P.L. 102-227, excluding sections 103, 104
11and 110 of P.L. 102-227, P.L. 102-318, P.L. 102-486, P.L. 103-66, excluding sections
1213113, 13150 (d), 13171 (d), 13174 and 13203 (d) of P.L. 103-66, P.L. 103-296, P.L.
13103-337, P.L. 103-465, P.L. 104-7, P.L. 104-188, excluding sections 1123 (b), 1202
14(c), 1204 (f), 1311 and 1605 (d) of P.L. 104-188, P.L. 104-191 and P.L. 104-193 applies
15for Wisconsin purposes at the same time as for federal purposes. Amendments to the
16internal revenue code enacted after December 31, 1996, do not apply to this
17subdivision with respect to taxable years that begin after December 31, 1996.
AB100-engrossed, s. 2275 18Section 2275. 71.26 (3) (n) of the statutes is amended to read:
AB100-engrossed,1140,2219 71.26 (3) (n) Sections 381, 382 and 383 (relating to carry-overs in certain
20corporate acquisitions) are modified so that they apply to losses under sub. (4) and
21credits under s. 71.28 (1di), (1dL), (1dx) and (3) to (5) instead of to federal credits and
22federal net operating losses.
AB100-engrossed, s. 2275b 23Section 2275b. 71.26 (3) (y) of the statutes is amended to read:
AB100-engrossed,1141,924 71.26 (3) (y) A corporation may compute amortization and depreciation under
25either the federal internal revenue code as amended to December 31, 1995 1996, or

1the federal internal revenue code in effect for the taxable year for which the return
2is filed, except that property first placed in service by the taxpayer on or after
3January 1, 1983, but before January 1, 1987, that, under s. 71.04 (15) (b) and (br),
41985 stats., is required to be depreciated under the internal revenue code as
5amended to December 31, 1980, and property first placed in service in taxable year
61981 or thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985
7stats., is required to be depreciated under the internal revenue code as amended to
8December 31, 1980, shall continue to be depreciated under the internal revenue code
9as amended to December 31, 1980.
AB100-engrossed, s. 2275bm 10Section 2275bm. 71.28 (1dd) (f) of the statutes is created to read:
AB100-engrossed,1141,1411 71.28 (1dd) (f) No credit may be claimed under this subsection for taxable years
12that begin on January 1, 1998, or thereafter. Credits under this subsection for
13taxable years that begin before January 1, 1998, may be carried forward to taxable
14years that begin on January 1, 1998, or thereafter.
AB100-engrossed, s. 2275c 15Section 2275c. 71.28 (1de) (e) of the statutes is created to read:
AB100-engrossed,1141,1916 71.28 (1de) (e) No credit may be claimed under this subsection for taxable years
17that begin on January 1, 1998, or thereafter. Credits under this subsection for
18taxable years that begin before January 1, 1998, may be carried forward to taxable
19years that begin on January 1, 1998, or thereafter.
AB100-engrossed, s. 2275d 20Section 2275d. 71.28 (1di) (j) of the statutes is created to read:
AB100-engrossed,1141,2421 71.28 (1di) (j) No credit may be claimed under this subsection for taxable years
22that begin on January 1, 1998, or thereafter. Credits under this subsection for
23taxable years that begin before January 1, 1998, may be carried forward to taxable
24years that begin on January 1, 1998, or thereafter.
AB100-engrossed, s. 2275e 25Section 2275e. 71.28 (1dj) (j) of the statutes is created to read:
AB100-engrossed,1142,4
171.28 (1dj) (j) No credit may be claimed under this subsection for taxable years
2that begin on January 1, 1998, or thereafter. Credits under this subsection for
3taxable years that begin before January 1, 1998, may be carried forward to taxable
4years that begin on January 1, 1998, or thereafter.
AB100-engrossed, s. 2275f 5Section 2275f. 71.28 (1dL) (j) of the statutes is created to read:
AB100-engrossed,1142,96 71.28 (1dL) (j) No credit may be claimed under this subsection for taxable years
7that begin on January 1, 1998, or thereafter. Credits under this subsection for
8taxable years that begin before January 1, 1998, may be carried forward to taxable
9years that begin on January 1, 1998, or thereafter.
AB100-engrossed, s. 2275g 10Section 2275g. 71.28 (1ds) (j) of the statutes is created to read:
AB100-engrossed,1142,1411 71.28 (1ds) (j) No credit may be claimed under this subsection for taxable years
12that begin on January 1, 1998, or thereafter. Credits under this subsection for
13taxable years that begin before January 1, 1998, may be carried forward to taxable
14years that begin on January 1, 1998, or thereafter.
AB100-engrossed, s. 2276 15Section 2276. 71.28 (1dx) of the statutes is created to read:
AB100-engrossed,1142,1616 71.28 (1dx) Development zones credit. (a) Definitions. In this subsection:
AB100-engrossed,1142,1817 1. "Brownfield" means an industrial or commercial facility the expansion or
18redevelopment of which is complicated by environmental contamination.
AB100-engrossed,1142,2119 2. "Development zone" means a development zone under s. 560.70, a
20development opportunity zone under s. 560.795 or an enterprise development zone
21under s. 560.797.
AB100-engrossed,1143,222 3. "Environmental remediation" means removal or containment of
23environmental pollution, as defined in s. 299.01 (4), and restoration of soil or
24groundwater that is affected by environmental pollution, as defined in s. 299.01 (4),
25in a brownfield if that removal, containment or restoration fulfills the requirement

1under sub. (1de) (a) 1. and investigation unless the investigation determines that
2remediation is required and that remediation is not undertaken.
AB100-engrossed,1143,83 4. "Full-time job" means a regular, nonseasonal full-time position in which an
4individual, as a condition of employment, is required to work at least 2,080 hours per
5year, including paid leave and holidays, and for which the individual receives pay
6that is equal to at least 150% of the federal minimum wage and receives benefits that
7are not required by federal or state law. "Full-time job" does not include initial
8training before an employment position begins.
AB100-engrossed,1143,179 5. "Member of a targeted group" means a person under sub. (1dj) (am) 1., a
10person who resides in an empowerment zone, or an enterprise community, that the
11U.S. government designates, a person who is employed in an unsubsidized job but
12meets the eligibility requirements under s. 49.145 (2) and (3) for a Wisconsin works
13employment position, a person who is employed in a trial job, as defined in s. 49.141
14(1) (n), a person who is eligible for the Wisconsin works health plan under s. 49.153
15or a person who is eligible for child care assistance under s. 49.155; if the person has
16been certified in the manner under sub. (1dj) (am) 3. by a designated local agency,
17as defined in sub. (1dj) (am) 2.
AB100-engrossed,1143,2018 (b) Credit. Except as provided in s. 73.03 (35) and subject to s. 560.785, for any
19taxable year for which the person is certified under s. 560.765 (3), any person may
20claim as a credit against taxes under this subchapter the following amounts:
AB100-engrossed,1143,2221 1. Fifty percent of the amount expended for environmental remediation in a
22development zone.
AB100-engrossed,1144,223 2. The amount determined by multiplying the amount determined under s.
24560.785 (1) (b) by the number of full-time jobs created in a development zone and

1filled by a member of a targeted group and by then subtracting the subsidies paid
2under s. 49.147 (3) (a) for those jobs.
AB100-engrossed,1144,63 3. The amount determined by multiplying the amount determined under s.
4560.785 (1) (c) by the number of full-time jobs created in a development zone and not
5filled by a member of a targeted group and by then subtracting the subsidies paid
6under s. 49.147 (3) (a) for those jobs.
AB100-engrossed,1144,117 4. The amount determined by multiplying the amount determined under s.
8560.785 (1) (b) by the number of full-time jobs retained, as provided in the rules
9under s. 560.785, excluding jobs for which a credit has been claimed under sub. (1dj),
10in a development zone and filled by a member of a targeted group and by then
11subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.
AB100-engrossed,1144,1612 5. The amount determined by multiplying the amount determined under s.
13560.785 (1) (c) by the number of full-time jobs retained, as provided in the rules
14under s. 560.785, excluding jobs for which a credit has been claimed under sub. (1dj),
15in a development zone and not filled by a member of a targeted group and by then
16subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.
AB100-engrossed,1144,2217 (c) Credit precluded. If the certification of a person for tax benefits under s.
18560.765 (3) is revoked, that person may not claim credits under this subsection for
19the taxable year that includes the day on which the certification is revoked or
20succeeding taxable years and that person may not carry over unused credits from
21previous years to offset tax under this chapter for the taxable year that includes the
22day on which certification is revoked or succeeding taxable years.
AB100-engrossed,1145,223 (d) Carry-over precluded. If a person who is certified under s. 560.765 (3) for
24tax benefits ceases business operations in the development zone during any of the
25taxable years that that zone exists, that person may not carry over to any taxable

1year following the year during which operations cease any unused credits from the
2taxable year during which operations cease or from previous taxable years.
AB100-engrossed,1145,73 (e) Administration. Subsection (4) (e) to (h), as it applies to the credit under
4sub. (4), applies to the credit under this subsection. Subsection (1dj) (c), as it applies
5to the credit under sub. (1dj), applies to the credit under this subsection. Claimants
6shall include with their returns a copy of their certification for tax benefits and a copy
7of the department of commerce's verification of their expenses.
AB100-engrossed, s. 2276m 8Section 2276m. 71.28 (3) (b) of the statutes is amended to read:
AB100-engrossed,1145,189 71.28 (3) (b) The tax imposed upon or measured by corporation Wisconsin net
10income under s. 71.23 (1) or (2) shall be reduced by an amount equal to the sales and
11use tax under ch. 77 paid by the corporation in such taxable year on fuel and
12electricity consumed in manufacturing tangible personal property in this state.
13Shareholders of a tax-option corporation and partners may claim the credit under
14this subsection, based on eligible sales and use taxes paid by the tax-option
15corporation or partnership, in proportion to the ownership interest of each
16shareholder or partner. The tax-option corporation or partnership shall calculate
17the amount of the credit that may be claimed by each shareholder or partner and
18shall provide that information to the shareholder or partner.
AB100-engrossed, s. 2276n 19Section 2276n. 71.28 (3) (c) of the statutes is renumbered 71.28 (3) (c) 1.
AB100-engrossed, s. 2276no 20Section 2276no. 71.28 (3) (c) 2. to 6. of the statutes are created to read:
AB100-engrossed,1145,2321 71.28 (3) (c) 2. For shareholders in a tax-option corporation, the credit may be
22offset only against the tax imposed on the shareholder's prorated share of the
23tax-option corporation's income.
AB100-engrossed,1145,2524 3. For partners, the credit may be offset only against the tax imposed on the
25partner's distributive share of partnership income.
AB100-engrossed,1146,3
14. If a tax-option corporation becomes liable for tax, the corporation may offset
2the credit against the tax due, with any remaining credit passing through to the
3shareholders.
AB100-engrossed,1146,74 5. If a corporation that is not a tax-option corporation has a carry-over credit
5and becomes a tax-option corporation before the credit carried over is used, the
6unused portion of the credit may be used by the tax-option corporation's
7shareholders on a prorated basis.
AB100-engrossed,1146,128 6. If the shareholders of a tax-option corporation have carry-over credits and
9the corporation becomes a corporation other than a tax-option corporation after the
10effective date of this subdivision .... [revisor inserts date], and before the credits
11carried over are used, the unused portion of the credits may be used by the
12corporation that is not a tax-option corporation.
AB100-engrossed, s. 2276p 13Section 2276p. 71.28 (3) (d) of the statutes is repealed.
AB100-engrossed, s. 2277 14Section 2277. 71.28 (4) (a) of the statutes is amended to read:
AB100-engrossed,1147,315 71.28 (4) (a) Credit. Any corporation may credit against taxes otherwise due
16under this chapter an amount equal to 5% of the amount obtained by subtracting
17from the corporation's qualified research expenses, as defined in section 41 of the
18internal revenue code, except that "qualified research expenses" includes only
19expenses incurred by the claimant, incurred for research conducted in this state for
20the taxable year, except that a taxpayer may elect the alternative computation under
21section 41 (c) (4) of the Internal Revenue Code and that election applies until the
22department permits its revocation
and except that "qualified research expenses"
23does not include compensation used in computing the credit under sub. subs. (1dj)
24and (1dx), the corporation's base amount, as defined in section 41 (c) of the internal
25revenue code, except that gross receipts used in calculating the base amount means

1gross receipts from sales attributable to Wisconsin under s. 71.25 (9) (b) 1. and 2. and
2(d). Section 41 (h) of the internal revenue code does not apply to the credit under this
3paragraph.
AB100-engrossed, s. 2277d 4Section 2277d. 71.28 (4) (am) 1. of the statutes is amended to read:
AB100-engrossed,1148,25 71.28 (4) (am) 1. In addition to the credit under par. (a), any corporation may
6credit against taxes otherwise due under this chapter an amount equal to 5% of the
7amount obtained by subtracting from the corporation's qualified research expenses,
8as defined in section 41 of the internal revenue code, except that "qualified research
9expenses" include only expenses incurred by the claimant in a development zone
10under subch. VI of ch. 560, except that a taxpayer may elect the alternative
11computation under section 41 (c) (4) of the Internal Revenue Code and that election
12applies until the department permits its revocation
and except that "qualified
13research expenses" do not include compensation used in computing the credit under
14sub. (1dj) nor research expenses incurred before the claimant is certified for tax
15benefits under s. 560.765 (3), the corporation's base amount, as defined in section 41
16(c) of the internal revenue code, in a development zone, except that gross receipts
17used in calculating the base amount means gross receipts from sales attributable to
18Wisconsin under s. 71.25 (9) (b) 1. and 2. and (d) and research expenses used in
19calculating the base amount include research expenses incurred before the claimant
20is certified for tax benefits under s. 560.765 (3), in a development zone, if the claimant
21submits with the claimant's return a copy of the claimant's certification for tax
22benefits under s. 560.765 (3) and a statement from the department of commerce
23verifying the claimant's qualified research expenses for research conducted
24exclusively in a development zone. The rules under s. 73.03 (35) apply to the credit
25under this subdivision. The rules under sub. (1di) (f) and (g) as they apply to the

1credit under that subsection apply to claims under this subdivision. Section 41 (h)
2of the internal revenue code does not apply to the credit under this subdivision.
AB100-engrossed, s. 2277m 3Section 2277m. 71.28 (4) (am) 3. of the statutes is created to read:
AB100-engrossed,1148,74 71.28 (4) (am) 3. No credit may be claimed under this paragraph for taxable
5years that begin on January 1, 1998, or thereafter. Credits under this paragraph for
6taxable years that begin before January 1, 1998, may be carried forward to taxable
7years that begin on January 1, 1998, and thereafter.
AB100-engrossed, s. 2277n 8Section 2277n. 71.28 (6) (a) of the statutes is amended to read:
AB100-engrossed,1148,159 71.28 (6) (a) Any person may credit against taxes otherwise due under this
10chapter, up to the amount of those taxes, an amount equal to 5% of the costs of
11qualified rehabilitation expenditures, as defined in section 47 (c) (2) of the internal
12revenue code, for certified historic structures on property located in this state if the
13physical work of construction or destruction in preparation for construction begins
14after December 31, 1988, and the rehabilitated property is placed in service after
15June 30, 1989
.
AB100-engrossed, s. 2278 16Section 2278. 71.29 (2) of the statutes is amended to read:
AB100-engrossed,1148,2217 71.29 (2) Who shall pay. Every corporation subject to tax under s. 71.23 (1) or
18(2) and every virtually exempt entity subject to tax under s. 71.125 or 71.23 (1) or (2)
19shall pay an estimated tax to the department of revenue at its offices in Madison
20unless the department, by rule, prescribes another place of payment
. If the amount
21of any payment is $20,000 or more, the department may require the corporation to
22make the payment electronically
.
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