AB819,71,1414
71.365
(1m) (b) For taxable years that begin after December 31, 2001, a
15tax-option corporation may compute amortization and depreciation under either the
16federal Internal Revenue Code as amended to December 31, 2001, or the federal
17Internal Revenue Code in effect for the taxable year for which the return is filed,
18except 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.
AB819, s. 62
15Section
62. 71.42 (2) (f) of the statutes is repealed.
AB819, s. 63
16Section
63. 71.42 (2) (g) of the statutes is repealed.
AB819, s. 64
17Section
64. 71.42 (2) (h) of the statutes is amended to read:
AB819,72,2018
71.42
(2) (h) For taxable years that begin after December 31, 1993, and before
19January 1, 1995, "Internal Revenue Code" means the federal Internal Revenue Code
20as amended to December 31, 1993 excluding sections 103, 104
, and 110 of P.L.
21102-227 and sections 13113, 13150 (d), 13171 (d), 13174, 13203 (d)
, and 13215 of P.L.
22103-66, and as amended by P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7,
23excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
24104-188, P.L.
104-191, P.L.
104-193, P.L.
105-34, P.L.
105-206 and, P.L.
105-277,
25and P.L. 106-554, and as indirectly affected by P.L.
99-514, P.L.
100-203, P.L.
1100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
2102-227, excluding sections 103, 104
, and 110 of P.L.
102-227, P.L.
102-318, P.L.
3102-486 and P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174,
413203 (d)
, and 13215 of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
5104-7, excluding section 1 of P.L.
104-7, P.L.
104-188, excluding section 1311 of P.L.
6104-188, P.L.
104-191, P.L.
104-193, P.L.
105-34, P.L.
105-206 and, P.L.
105-277,
7and P.L. 106-554, except that "Internal Revenue Code" does not include section 847
8of the federal Internal Revenue Code. The Internal Revenue Code applies for
9Wisconsin purposes at the same time as for federal purposes. Amendments to the
10federal Internal Revenue Code enacted after December 31, 1993, do not apply to this
11paragraph with respect to taxable years beginning after December 31, 1993, and
12before January 1, 1995, except that changes to the Internal Revenue Code made by
13P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
14104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
15104-193, P.L.
105-34, P.L.
105-206 and, P.L.
105-277, and P.L. 106-554, and
16changes that indirectly affect the provisions applicable to this subchapter made by
17P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, excluding section 1 of P.L.
18104-7, P.L.
104-188, excluding section 1311 of P.L.
104-188, P.L.
104-191, P.L.
19104-193, P.L.
105-34, P.L.
105-206 and, P.L.
105-277,
and P.L. 106-554, apply for
20Wisconsin purposes at the same time as for federal purposes.
AB819, s. 65
21Section
65. 71.42 (2) (i) of the statutes is amended to read:
AB819,73,2222
71.42
(2) (i) For taxable years that begin after December 31, 1994, and before
23January 1, 1996, "Internal Revenue Code" means the federal Internal Revenue Code
24as amended to December 31, 1994, excluding sections 103, 104
, and 110 of P.L.
25102-227 and sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
1103-66, and as amended by P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204,
21311
, and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-34, P.L.
3105-206 and, P.L.
105-277, and P.L. 106-554, and as indirectly affected 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, P.L.
103-66, excluding sections 13113, 13150
7(d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
8103-465, P.L.
104-7, P.L.
104-188, excluding sections 1202, 1204, 1311
, and 1605 of
9P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-34, P.L.
105-206
and, P.L.
10105-277, and P.L. 106-554, except that "Internal Revenue Code" does not include
11section 847 of the federal Internal Revenue Code. The Internal Revenue Code
12applies for Wisconsin purposes at the same time as for federal purposes.
13Amendments to the federal Internal Revenue Code enacted after
14December 31, 1994, do not apply to this paragraph with respect to taxable years
15beginning after December 31, 1994, and before January 1, 1996, except that
16changes to the Internal Revenue Code made by P.L.
104-7, P.L.
104-188, excluding
17sections 1202, 1204, 1311
, and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
18105-34, P.L.
105-206 and, P.L.
105-277, and P.L. 106-554, and changes that
19indirectly affect the provisions applicable to this subchapter made by P.L.
104-7, P.L.
20104-188, excluding sections 1202, 1204, 1311
, and 1605 of P.L.
104-188, P.L.
21104-191, P.L.
104-193, P.L.
105-34, P.L.
105-206 and, P.L.
105-277,
and P.L.
22106-554, apply for Wisconsin purposes at the same time as for federal purposes.
AB819, s. 66
23Section
66. 71.42 (2) (j) of the statutes is amended to read:
AB819,74,2524
71.42
(2) (j) For taxable years that begin after December 31, 1995, and before
25January 1, 1997, "Internal Revenue Code" means the federal Internal Revenue Code
1as amended to December 31, 1995, excluding sections 103, 104
, and 110 of P.L.
2102-227 and sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
3103-66, and as amended by P.L.
104-188, excluding sections 1123, 1202, 1204, 1311
, 4and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
5105-206 and, P.L.
105-277, and P.L. 106-554, and as indirectly affected by P.L.
699-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
7101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104
, and 110 of P.L.
8102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
9(d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
10103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123, 1202, 1204, 1311
, and
111605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
12105-206 and, P.L.
105-277, and P.L. 106-554, except that "Internal Revenue Code"
13does not include section 847 of the federal Internal Revenue Code. The Internal
14Revenue Code applies for Wisconsin purposes at the same time as for federal
15purposes. Amendments to the federal Internal Revenue Code enacted after
16December 31, 1995, do not apply to this paragraph with respect to taxable years
17beginning after December 31, 1995, and before January 1, 1997, except that
18changes to the Internal Revenue Code made by P.L.
104-188, excluding sections
191123, 1202, 1204, 1311
, and 1605 of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
20105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277, and P.L. 106-554, and changes
21that indirectly affect the provisions applicable to this subchapter made by P.L.
22104-188, excluding sections 1123, 1202, 1204, 1311
, and 1605 of P.L.
104-188, P.L.
23104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-206 and, P.L.
105-277,
24and P.L. 106-554, apply for Wisconsin purposes at the same time as for federal
25purposes.
AB819, s. 67
1Section
67. 71.42 (2) (k) of the statutes is amended to read:
AB819,76,22
71.42
(2) (k) For taxable years that begin after December 31, 1996, and before
3January 1, 1998, "Internal Revenue Code" means the federal Internal Revenue Code
4as amended to December 31, 1996, excluding sections 103, 104
, and 110 of P.L.
5102-227, sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66 6and sections 1123 (b), 1202 (c), 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, and as
7amended by P.L.
105-33, P.L.
105-34, P.L.
105-206, P.L.
105-277 and, P.L.
106-36,
8P.L. 106-554, and P.L. 107-16, excluding section 431 of P.L. 107-16, and as indirectly
9affected by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
10101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104
, and
11110 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, P.L.
104-193, P.L.
15105-33, P.L.
105-34, P.L.
105-206, P.L.
105-277 and, P.L.
106-36, P.L. 106-554, and
16P.L. 107-16, excluding section 431 of P.L. 107-16, except that "Internal Revenue
17Code" does not include section 847 of the federal Internal Revenue Code. The
18Internal Revenue Code applies for Wisconsin purposes at the same time as for federal
19purposes. Amendments to the federal Internal Revenue Code enacted after
20December 31, 1996, do not apply to this paragraph with respect to taxable years
21beginning after December 31, 1996, and before January 1, 1998, except that
22changes to the Internal Revenue Code made by P.L.
105-33, P.L.
105-34, P.L.
23105-206, P.L.
105-277 and, P.L.
106-36, P.L. 106-554, and P.L. 107-16, excluding
24section 431 of P.L. 107-16, and changes that indirectly affect the provisions
25applicable to this subchapter made by P.L.
105-33, P.L.
105-34, P.L.
105-206, P.L.
1105-277 and, P.L.
106-36,
P.L. 106-554, and P.L. 107-16, excluding section 431 of
2P.L. 107-16, apply for Wisconsin purposes at the same time as for federal purposes.
AB819, s. 68
3Section
68. 71.42 (2) (L) of the statutes is amended to read:
AB819,77,54
71.42
(2) (L) For taxable years that begin after December 31, 1997, and before
5January 1, 1999, "Internal Revenue Code" means the federal Internal Revenue Code
6as amended to December 31, 1997, excluding sections 103, 104
, and 110 of P.L.
7102-227, sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66 8and sections 1123 (b), 1202 (c), 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, and as
9amended by P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and, P.L.
106-170,
10P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16,
11and as indirectly affected by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73,
12P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding
13sections 103, 104
, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66,
14excluding sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66,
15P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding
16sections 1123 (b), 1202 (c)
, 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, P.L.
104-191,
17P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277,
18P.L.
106-36 and, P.L.
106-170, P.L. 106-554, P.L. 106-573, and P.L. 107-16,
19excluding section 431 of P.L. 107-16, except that "Internal Revenue Code" does not
20include section 847 of the federal Internal Revenue Code. The Internal Revenue
21Code applies for Wisconsin purposes at the same time as for federal purposes.
22Amendments to the federal Internal Revenue Code enacted after December 31, 1997,
23do not apply to this paragraph with respect to taxable years beginning after
24December 31, 1997, and before January 1, 1999, except that changes to the Internal
25Revenue Code made by P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and,
1P.L.
106-170, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of
2P.L. 107-16, and changes that indirectly affect the provisions applicable to this
3subchapter made by P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and, P.L.
4106-170, P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L.
5107-16, apply for Wisconsin purposes at the same time as for federal purposes.
AB819, s. 69
6Section
69. 71.42 (2) (m) of the statutes is amended to read:
AB819,78,87
71.42
(2) (m) For taxable years that begin after December 31, 1998, and before
8January 1, 2000, "Internal Revenue Code" means the federal Internal Revenue Code
9as amended to December 31, 1998, excluding sections 103, 104
, and 110 of P.L.
10102-227, sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66 11and sections 1123 (b), 1202 (c), 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, and as
12amended by P.L.
106-36 and, P.L.
106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554,
13P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16, and as indirectly
14affected by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
15101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104
, and
16110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections
1713113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
18103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202
19(c)
, 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
20105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and, P.L.
21106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L. 107-16,
22excluding section 431 of P.L. 107-16, except that "Internal Revenue Code" does not
23include section 847 of the federal Internal Revenue Code. The Internal Revenue
24Code applies for Wisconsin purposes at the same time as for federal purposes.
25Amendments to the federal Internal Revenue Code enacted after December 31, 1998,
1do not apply to this paragraph with respect to taxable years beginning after
2December 31, 1998, and before January 1, 2000, except that changes to the Internal
3Revenue Code made by P.L.
106-36 and, P.L.
106-170, P.L. 106-230, P.L. 106-519,
4P.L. 106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16, 5and changes that indirectly affect the provisions applicable to this subchapter made
6by P.L.
106-36 and, P.L.
106-170, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L.
7106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16, apply for Wisconsin
8purposes at the same time as for federal purposes.
AB819, s. 70
9Section
70. 71.42 (2) (n) of the statutes is amended to read:
AB819,79,1110
71.42
(2) (n) For taxable years that begin after December 31, 1999,
and before
11January 1, 2001, "Internal Revenue Code" means the federal Internal Revenue Code
12as amended to December 31, 1999, excluding sections 103, 104
, and 110 of P.L.
13102-227, sections 13113, 13150 (d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66 14and sections 1123 (b), 1202 (c), 1204 (f), 1311
, and 1605 (d) of P.L.
104-188, and as
15amended by P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573,
16and P.L. 107-16, excluding section 431 of P.L. 107-16, and as indirectly affected by
17P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179,
18P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104
, and 110 of P.L.
19102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
20(d), 13171 (d), 13174
, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
21103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c)
, 1204 (f),
221311
, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
23105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36 and, P.L.
106-170,
24P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L.
25107-16, excluding section 431 of P.L. 107-16, except that "Internal Revenue Code"
1does not include section 847 of the federal Internal Revenue Code. The Internal
2Revenue Code applies for Wisconsin purposes at the same time as for federal
3purposes. Amendments to the federal Internal Revenue Code enacted after
4December 31, 1999, do not apply to this paragraph with respect to taxable years
5beginning after December 31, 1999
, and before January 1, 2001, except that changes
6to the Internal Revenue Code made by P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L.
7106-554, P.L. 106-573, and P.L. 107-16, excluding section 431 of P.L. 107-16, and
8changes that indirectly affect the provisions applicable to this subchapter made by
9P.L. 106-200, P.L. 106-230, P.L. 106-519, P.L. 106-554, P.L. 106-573, and P.L.
10107-16, excluding section 431 of P.L. 107-16, apply for Wisconsin purposes at the
11same time as for federal purposes.
AB819, s. 71
12Section
71. 71.42 (2) (o) of the statutes is created to read:
AB819,80,1213
71.42
(2) (o) For taxable years that begin after December 31, 2000, and before
14January 1, 2002, "Internal Revenue Code" means the federal Internal Revenue Code
15as amended to December 31, 2000, excluding sections 103, 104, and 110 of P.L.
16102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
17and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, and as
18amended by P.L.
107-16, excluding section 431 of P.L.
107-16, and P.L.
107-22, and
19as indirectly affected by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
20101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
21103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
22sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
23103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
241123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
25104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
1106-36, P.L.
106-170, P.L.
106-200, P.L.
106-230, P.L.
106-519, P.L.
106-554, P.L.
2106-573, P.L.
107-16, excluding section 431 of P.L.
107-16, and P.L.
107-22, except
3that "Internal Revenue Code" does not include section 847 of the federal Internal
4Revenue Code. The Internal Revenue Code applies for Wisconsin purposes at the
5same time as for federal purposes. Amendments to the federal Internal Revenue
6Code enacted after December 31, 2000, do not apply to this paragraph with respect
7to taxable years beginning after December 31, 2000, and before January 1, 2002,
8except that changes to the Internal Revenue Code made by P.L.
107-16, excluding
9section 431 of P.L.
107-16, and P.L.
107-22, and changes that indirectly affect the
10provisions applicable to this subchapter made by P.L.
107-16, excluding section 431
11of P.L.
107-16, and P.L.
107-22, apply for Wisconsin purposes at the same time as
12for federal purposes.
AB819, s. 72
13Section
72. 71.42 (2) (p) of the statutes is created to read:
AB819,81,714
71.42
(2) (p) For taxable years that begin after December 31, 2001, "Internal
15Revenue Code" means the federal Internal Revenue Code as amended to
16December 31, 2001, excluding sections 103, 104, and 110 of P.L.
102-227, sections
1713113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b),
181202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, and section 431 of P.L.
107-16,
19and as indirectly affected by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73,
20P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding
21sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66,
22excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66,
23P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding
24sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191,
25P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277,
1P.L.
106-36, P.L.
106-170, P.L.
106-200, P.L.
106-230, P.L.
106-519, P.L.
106-554,
2P.L.
106-573, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, and P.L.
3107-22, except that "Internal Revenue Code" does not include section 847 of the
4federal Internal Revenue Code. The Internal Revenue Code applies for Wisconsin
5purposes at the same time as for federal purposes. Amendments to the federal
6Internal Revenue Code enacted after December 31, 2001, do not apply to this
7paragraph with respect to taxable years beginning after December 31, 2001.
AB819, s. 73
8Section
73. 71.45 (2) (a) 13. of the statutes is renumbered 71.45 (2) (a) 13. a.
9and amended to read:
AB819,81,2310
71.45
(2) (a) 13. a.
By For taxable years that begin after December 31, 2000,
11and before January 1, 2002, by adding or subtracting, as appropriate, the difference
12between the depreciation deduction under the federal Internal Revenue Code as
13amended to December 31,
1999 2000, and the depreciation deduction under the
14federal Internal Revenue Code in effect for the taxable year for which the return is
15filed, so as to reflect the fact that the insurer may choose between these 2 deductions,
16except that property first placed in service by the taxpayer on or after
17January 1, 1983, but before January 1, 1987, that, under s. 71.04 (15) (b) and (br),
181985 stats., is required to be depreciated under the Internal Revenue Code as
19amended to December 31, 1980, and property first placed in service in taxable year
201981 or thereafter but before January 1, 1987, that, under s. 71.04 (15) (bm), 1985
21stats., is required to be depreciated under the Internal Revenue Code as amended
22to December 31, 1980, shall continue to be depreciated under the Internal Revenue
23Code as amended to December 31, 1980.
AB819, s. 74
24Section
74. 71.45 (2) (a) 13. b. of the statutes is created to read:
AB819,82,13
171.45
(2) (a) 13. b. For taxable years that begin after December 31, 2001, by
2adding or subtracting, as appropriate, the difference between the depreciation
3deduction under the federal Internal Revenue Code as amended to December 31,
42001, and the depreciation deduction under the federal Internal Revenue Code in
5effect for the taxable year for which the return is filed, so as to reflect the fact that
6the insurer may choose between these 2 deductions, except that property first placed
7in service by the taxpayer on or after January 1, 1983, but before January 1, 1987,
8that, under s. 71.04 (15) (b) and (br), 1985 stats., is required to be depreciated under
9the Internal Revenue Code as amended to December 31, 1980, and property first
10placed in service in taxable year 1981 or thereafter but before January 1,
1987, that,
11under s. 71.04 (15) (bm), 1985 stats., is required to be depreciated under the Internal
12Revenue Code as amended to December 31, 1980, shall continue to be depreciated
13under the Internal Revenue Code as amended to December 31, 1980.
AB819,82,1815
(1)
Adoption of federal income tax law changes. Changes to the Internal
16Revenue Code made by P.L.
106-554 apply to the definitions of the "Internal Revenue
17Code" in chapter 71 of the statutes at the time that those changes apply for federal
18income tax purposes.
AB819,82,2020
(1)
Depreciation deductions.
AB819,82,2321
(a) The renumbering and amendment of sections 71.01 (7r), 71.26 (3) (y), 71.365
22(1m), and 71.45 (2) (a) 13. of the statutes first applies to property placed in service
23in taxable years beginning on January 1, 2001.
AB819,83,3
1(b) The treatment of sections 71.01 (7r) (b), 71.26 (3) (y) 2., 71.365 (1m) (b), and
271.45 (2) (a) 13. b. of the statutes first applies to property placed in service in taxable
3years beginning on January 1, 2002.
