LRB-3610/2
JK:jld:rs
2003 - 2004 LEGISLATURE
February 4, 2004 - Introduced by Senators Schultz, Breske, Roessler and Welch,
cosponsored by Representatives
Lothian, Gronemus, Hahn, Hines, Albers,
Krawczyk, Seratti, Ainsworth, Gunderson and Kaufert. Referred to
Committee on Homeland Security, Veterans and Military Affairs and
Government Reform.
SB431,1,2
1An Act to amend 76.39 (2) of the statutes;
relating to: the gross earnings tax
2on car line companies.
Analysis by the Legislative Reference Bureau
Under current law, instead of paying local general property taxes, a car line
company annually pays a state tax that is equal to 3 percent of the company's gross
earnings. A car line company is a business that, generally, leases railroad cars and
other railroad transportation equipment to a railroad. Under this bill, beginning
with tax payments that are due on September 10, 2004, the tax on a car line company
is equal to 2.25 percent of the company's gross earnings.
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:
SB431, s. 1
3Section
1. 76.39 (2) of the statutes is amended to read:
SB431,2,34
76.39
(2) There is levied annually a gross earnings tax in lieu of all property
5taxes on the car line equipment of a car line company equal to
3% 2.25 percent of the
6gross earnings in this state. Every railroad company operating in this state shall,
1upon making payment to each car line company for use of its cars, withhold
3% 2.25
2percent of the amount constituting the gross earnings in this state of such car line
3company.
SB431,2,65
(1) This act first applies to the assessment year 2005 and to tax payments due
6no later than September 10, 2004.
