LRB-2959/1
JK:jlg:km
1999 - 2000 LEGISLATURE
July 8, 1999 - Introduced by Representatives Pocan, Urban, Black, Bock, Lassa,
Carpenter, Young, J. Lehman, Richards, La Fave, Berceau, Turner,
Wasserman, Huber, Morris-Tatum
and Boyle, cosponsored by Senators
Risser and Robson. Referred to Committee on Ways and Means.
AB404,1,2 1An Act to create 71.26 (3) (e) 4. of the statutes; relating to: the corporate income
2tax deduction for tobacco advertising expenses.
Analysis by the Legislative Reference Bureau
Under current law, to determine a corporation's adjusted gross income for
income tax and franchise tax purposes, a corporation may deduct from the
corporation's income the advertising expenses paid by the corporation. Under this
bill, a corporation may not deduct any expenses for advertising that is intended to
promote the sale or use of cigarettes or tobacco products.
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:
AB404, s. 1 3Section 1. 71.26 (3) (e) 4. of the statutes is created to read:
AB404,1,64 71.26 (3) (e) 4. So that payments for advertising may be deducted only if the
5advertising is not intended to promote the sale or use of cigarettes, as defined under
6s. 139.30 (1), or tobacco products, as defined under s. 139.75 (12).
AB404, s. 2 7Section 2. Initial applicability.
AB404,2,4
1(1) This act first applies to taxable years beginning on January 1 of the year
2in which this subsection takes effect, except that, if this subsection takes effect after
3July 31, this act first applies to taxable years beginning on January 1 of the year
4following the year in which this subsection takes effect.
AB404,2,55 (End)
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