AB40,846,1413 71.47 (1di) (d) 1. A copy of a verification from the department of commerce that
14the claimant may claim tax benefits under s. 560.795 (3), 2009 stats.
AB40, s. 2024 15Section 2024. 71.47 (1di) (f) of the statutes is amended to read:
AB40,846,2216 71.47 (1di) (f) If a person who is entitled under s. 560.795 (3), 2009 stats., to
17claim tax benefits becomes ineligible for such tax benefits, that person may claim no
18credits under this subsection for the taxable year that includes the day on which the
19person becomes ineligible for tax benefits or succeeding taxable years and that
20person may carry over no unused credits from previous years to offset tax under this
21chapter for the taxable year that includes the day on which the person becomes
22ineligible for tax benefits or succeeding taxable years.
AB40, s. 2025 23Section 2025. 71.47 (1di) (g) of the statutes is amended to read:
AB40,847,324 71.47 (1di) (g) If a person who is entitled under s. 560.795 (3), 2009 stats., to
25claim tax benefits ceases business operations in the development zone during any of

1the taxable years that that zone exists, that person may not carry over to any taxable
2year following the year during which operations cease any unused credits from the
3taxable year during which operations cease or from previous taxable years.
AB40, s. 2026 4Section 2026. 71.47 (1dj) (am) (intro.) of the statutes is amended to read:
AB40,847,85 71.47 (1dj) (am) (intro.) Except as provided under par. (f) or s. 73.03 (35), for
6any taxable year for which the person is certified under s. 560.765 (3), 2009 stats.,
7for tax benefits, any person may claim as a credit against taxes otherwise due under
8this chapter an amount calculated as follows:
AB40, s. 2027 9Section 2027. 71.47 (1dj) (am) 4. a. of the statutes is amended to read:
AB40,847,1610 71.47 (1dj) (am) 4. a. If certified under s. 560.765 (3), 2009 stats., for tax
11benefits before January 1, 1992, modify "qualified wages" as defined in section 51 (b)
12of the internal revenue code to exclude wages paid before the claimant is certified for
13tax benefits and to exclude wages that are paid to employees for work at any location
14that is not in a development zone under subch. VI of ch. 560, 2009 stats. For purposes
15of this subd. 4. a., mobile employees work at their base of operations and leased or
16rented employees work at the location where they perform services.
AB40, s. 2028 17Section 2028. 71.47 (1dj) (am) 4. b. of the statutes is amended to read:
AB40,847,2418 71.47 (1dj) (am) 4. b. If certified under s. 560.765 (3), 2009 stats., for tax
19benefits after December 31, 1991, modify "qualified wages" as defined in section 51
20(b) of the internal revenue code to exclude wages paid before the claimant is certified
21for tax benefits and to exclude wages that are paid to employees for work at any
22location that is not in a development zone under subch. VI of ch. 560, 2009 stats. For
23purposes of this subd. 4. b., mobile employees and leased or rented employees work
24at their base of operations.
AB40, s. 2029 25Section 2029. 71.47 (1dj) (am) 4c. of the statutes is amended to read:
AB40,848,5
171.47 (1dj) (am) 4c. Modify the rule for ineligible individuals under section 51
2(i) (1) of the internal revenue code to allow credit for the wages of related individuals
3paid by an Indian business, as defined in s. 560.86 (4), 2009 stats., or a tribal
4enterprise, as defined in s. 71.07 (2di) (b) 2., if the Indian business or tribal enterprise
5is located in a development zone designated under s. 560.71 (3) (c) 2., 2009 stats.
AB40, s. 2030 6Section 2030. 71.47 (1dj) (am) 4t. of the statutes is amended to read:
AB40,848,137 71.47 (1dj) (am) 4t. If certified under s. 560.765 (3), 2009 stats., for tax benefits
8before January 1, 1992, modify section 51 (i) (3) of the internal revenue code so that
9for leased or rented employees, except employees of a leasing agency certified for tax
10benefits who perform services directly for the agency in a development zone, the
11minimum employment periods apply to the time that they perform services in a
12development zone for a single lessee or renter, not to their employment by the leasing
13agency.
AB40, s. 2031 14Section 2031. 71.47 (1dj) (e) 1. of the statutes is amended to read:
AB40,848,1615 71.47 (1dj) (e) 1. A copy of the claimant's certification for tax benefits under s.
16560.765 (3), 2009 stats.
AB40, s. 2032 17Section 2032. 71.47 (1dj) (e) 3. a. of the statutes is amended to read:
AB40,848,2218 71.47 (1dj) (e) 3. a. If certified under s. 560.765 (3), 2009 stats., for tax benefits
19before January 1, 1992, a statement from the department of commerce verifying the
20amount of qualifying wages and verifying that the employees were hired for work
21only in a development zone or are mobile employees whose base of operations is in
22a development zone.
AB40, s. 2033 23Section 2033. 71.47 (1dj) (e) 3. b. of the statutes is amended to read:
AB40,849,324 71.47 (1dj) (e) 3. b. If certified under s. 560.765 (3), 2009 stats., for tax benefits
25after December 31, 1991, a statement from the department of commerce verifying the

1amount of qualifying wages and verifying that the employees were hired for work
2only in a development zone or are mobile employees or leased or rented employees
3whose base of operations is in a development zone.
AB40, s. 2034 4Section 2034. 71.47 (1dL) (a) of the statutes is amended to read:
AB40,849,105 71.47 (1dL) (a) Except as provided in pars. (ag), (ar), (bm) and (f) and s. 73.03
6(35), for any taxable year for which the person is certified under s. 560.765 (3), 2009
7stats.,
for tax benefits, any person may claim as a credit against taxes otherwise due
8under this subchapter an amount equal to 2.5% of the amount expended by that
9person to acquire, construct, rehabilitate or repair real property in a development
10zone under subch. VI of ch. 560, 2009 stats.
AB40, s. 2035 11Section 2035. 71.47 (1dL) (ag) of the statutes is amended to read:
AB40,849,2112 71.47 (1dL) (ag) If the credit under par. (a) is claimed for an amount expended
13to construct, rehabilitate, remodel or repair property, the claimant must have begun
14the physical work of construction, rehabilitation, remodeling or repair, or any
15demolition or destruction in preparation for the physical work, after the place where
16the property is located was designated a development zone under s. 560.71, 2009
17stats.,
and the completed project must be placed in service after the claimant is
18certified for tax benefits under s. 560.765 (3), 2009 stats. In this paragraph, "physical
19work" does not include preliminary activities such as planning, designing, securing
20financing, researching, developing specifications or stabilizing the property to
21prevent deterioration.
AB40, s. 2036 22Section 2036. 71.47 (1dL) (ar) of the statutes is amended to read:
AB40,850,723 71.47 (1dL) (ar) If the credit under par. (a) is claimed for an amount expended
24to acquire property, the property must have been acquired by the claimant after the
25place where the property is located was designated a development zone under s.

1560.71, 2009 stats., and the completed project must be placed in service after the
2claimant is certified for tax benefits under s. 560.765 (3), 2009 stats., and the
3property must not have been previously owned by the claimant or a related person
4during the 2 years prior to the designation of the development zone under s. 560.71,
52009 stats
. No credit is allowed for an amount expended to acquire property until
6the property, either in its original state as acquired by the claimant or as
7subsequently constructed, rehabilitated, remodeled or repaired, is placed in service.
AB40, s. 2037 8Section 2037. 71.47 (1dL) (bm) of the statutes is amended to read:
AB40,850,159 71.47 (1dL) (bm) In calculating the credit under par. (a) a claimant shall reduce
10the amount expended to acquire property by a percentage equal to the percentage of
11the area of the real property not used for the purposes for which the claimant is
12certified to claim tax benefits under s. 560.765 (3), 2009 stats., and shall reduce the
13amount expended for other purposes by the amount expended on the part of the
14property not used for the purposes for which the claimant is certified to claim tax
15benefits under s. 560.765 (3), 2009 stats.
AB40, s. 2038 16Section 2038. 71.47 (1dL) (c) of the statutes is amended to read:
AB40,850,2417 71.47 (1dL) (c) If the claimant is located on an Indian reservation, as defined
18in s. 560.86 (5), 2009 stats., and is an American Indian, as defined in s. 560.86 (1),
192009 stats.,
an Indian business, as defined in s. 560.86 (4), 2009 stats., or a tribal
20enterprise, as defined in s. 71.07 (2di) (b) 2., and if the allowable amount of the credit
21under par. (a) exceeds the taxes otherwise due under this chapter on or measured by
22the claimant's income, the amount of the credit not used as an offset against those
23taxes shall be certified to the department of administration for payment to the
24claimant by check, share draft or other draft.
AB40, s. 2039 25Section 2039. 71.47 (1dm) (a) 1. of the statutes is amended to read:
AB40,851,4
171.47 (1dm) (a) 1. "Certified" means entitled under s. 238.395 (3) (a) 4. or s.
2560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 238.395 (5),
3238.398 (3), or 238.3995 (4) or s.
560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats.,
4or s. 560.7995 (4), 2009 stats.
AB40, s. 2040 5Section 2040. 71.47 (1dm) (a) 3. of the statutes is amended to read:
AB40,851,96 71.47 (1dm) (a) 3. "Development zone" means a development opportunity zone
7under s. 238.395 (1) (e) and (f) or 238.398 or s. 560.795 (1) (e) and (f), 2009 stats., or
8s. 560.798, 2009 stats., or an airport development zone under s. 238.3995 or s.
9560.7995, 2009 stats.
AB40, s. 2041 10Section 2041. 71.47 (1dm) (a) 4. of the statutes is amended to read:
AB40,851,1911 71.47 (1dm) (a) 4. "Previously owned property" means real property that the
12claimant or a related person owned during the 2 years prior to the department of
13commerce or the Wisconsin Economic Development Corporation designating the
14place where the property is located as a development zone and for which the claimant
15may not deduct a loss from the sale of the property to, or an exchange of the property
16with, the related person under section 267 of the Internal Revenue Code, except that
17section 267 (b) of the Internal Revenue Code is modified so that if the claimant owns
18any part of the property, rather than 50% ownership, the claimant is subject to
19section 267 (a) (1) of the Internal Revenue Code for purposes of this subsection.
AB40, s. 2042 20Section 2042. 71.47 (1dm) (f) 1. of the statutes is amended to read:
AB40,851,2421 71.47 (1dm) (f) 1. A copy of a the verification from the department of commerce
22that the claimant may claim tax benefits under s. 238.395 (3) (a) 4. or s. 560.795 (3)
23(a) 4., 2009 stats., or is certified under s. 238.395 (5), 238.398 (3), or 238.3995 (4) or
24s.
560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.
AB40, s. 2043 25Section 2043. 71.47 (1dm) (f) 2. of the statutes is amended to read:
AB40,852,4
171.47 (1dm) (f) 2. A statement from the department of commerce or the
2Wisconsin Economic Development Corporation
verifying the purchase price of the
3investment and verifying that the investment fulfills the requirements under par.
4(b).
AB40, s. 2044 5Section 2044. 71.47 (1dm) (i) of the statutes is amended to read:
AB40,852,196 71.47 (1dm) (i) Partnerships, limited liability companies, and tax-option
7corporations may not claim the credit under this subsection, but the eligibility for,
8and the amount of, that credit shall be determined on the basis of their economic
9activity, not that of their shareholders, partners, or members. The corporation,
10partnership, or limited liability company shall compute the amount of credit that
11may be claimed by each of its shareholders, partners, or members and provide that
12information to its shareholders, partners, or members. Partners, members of limited
13liability companies, and shareholders of tax-option corporations may claim the
14credit based on the partnership's, company's, or corporation's activities in proportion
15to their ownership interest and may offset it against the tax attributable to their
16income from the partnership's, company's, or corporation's business operations in the
17development zone; except that partners, members, and shareholders in a
18development zone under s. 238.395 (1) (e) or s. 560.795 (1) (e), 2009 stats., may offset
19the credit against the amount of the tax attributable to their income.
AB40, s. 2045 20Section 2045. 71.47 (1dm) (j) of the statutes is amended to read:
AB40,853,621 71.47 (1dm) (j) If a person who is entitled under s. 238.395 (3) (a) 4. or s. 560.795
22(3) (a) 4., 2009 stats., to claim tax benefits becomes ineligible for such tax benefits,
23or if a person's certification under s. 238.395 (5), 238.398 (3), or 238.3995 (4) or s.
24560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is
25revoked, that person may claim no credits under this subsection for the taxable year

1that includes the day on which the person becomes ineligible for tax benefits, the
2taxable year that includes the day on which the certification is revoked, or succeeding
3taxable years, and that person may carry over no unused credits from previous years
4to offset tax under this chapter for the taxable year that includes the day on which
5the person becomes ineligible for tax benefits, the taxable year that includes the day
6on which the certification is revoked, or succeeding taxable years.
AB40, s. 2046 7Section 2046. 71.47 (1dm) (k) of the statutes is amended to read:
AB40,853,158 71.47 (1dm) (k) If a person who is entitled under s. 238.395 (3) (a) 4. or s.
9560.795 (3) (a) 4., 2009 stats., to claim tax benefits or certified under s. 238.395 (5),
10238.398 (3), or 238.3995 (4) or s.
560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats.,
11or s. 560.7995 (4), 2009 stats., ceases business operations in the development zone
12during any of the taxable years that that zone exists, that person may not carry over
13to any taxable year following the year during which operations cease any unused
14credits from the taxable year during which operations cease or from previous taxable
15years.
AB40, s. 2047 16Section 2047. 71.47 (1ds) (a) 1. of the statutes is amended to read:
AB40,853,1817 71.47 (1ds) (a) 1. "Development zone" means a zone designated under s. 560.71,
182009 stats
.
AB40, s. 2048 19Section 2048. 71.47 (1ds) (b) of the statutes is amended to read:
AB40,854,820 71.47 (1ds) (b) Except as provided in pars. (dm) and (e) and s. 73.03 (35), for
21any taxable year for which the person is certified under s. 560.765 (3), 2009 stats.,
22for tax benefits, any person may claim as a credit against taxes otherwise due under
23this chapter the taxes paid under subchs. III and V of ch. 77 on their purchases, leases
24and rentals of eligible property. Partnerships, limited liability companies and
25tax-option corporations may not claim the credit under this subsection but the

1eligibility for, and the amount of, that credit shall be determined on the basis of their
2economic activity, not that of their partners, members or shareholders. The
3partnership, limited liability company or corporation shall compute the amount of
4the credit that may be claimed by each of its partners, members or shareholders and
5shall provide that information to each of its partners, members or shareholders.
6Partners, members of limited liability companies and shareholders of tax-option
7corporations may claim the credit based on the partnership's, company's or
8corporation's activities in proportion to their ownership interest.
AB40, s. 2049 9Section 2049. 71.47 (1ds) (d) 1. of the statutes is amended to read:
AB40,854,1110 71.47 (1ds) (d) 1. A copy of the claimant's certification for tax benefits under
11s. 560.765 (3), 2009 stats.
AB40, s. 2050 12Section 2050. 71.47 (1dx) (a) 2. of the statutes is amended to read:
AB40,854,1813 71.47 (1dx) (a) 2. "Development zone" means a development zone under s.
14238.30 or s. 560.70, 2009 stats., a development opportunity zone under s. 238.395 or
15s.
560.795, 2009 stats., or an enterprise development zone under s. 238.397 or s.
16560.797, 2009 stats., an agricultural development zone under s. 238.398 or s.
17560.798, 2009 stats., or an airport development zone under s. 238.3995 or s.
18560.7995, 2009 stats.
AB40, s. 2051 19Section 2051. 71.47 (1dx) (a) 5. of the statutes is amended to read:
AB40,855,820 71.47 (1dx) (a) 5. "Member of a targeted group" means a person who resides
21in an area designated by the federal government as an economic revitalization area,
22a person who is employed in an unsubsidized job but meets the eligibility
23requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position,
24a person who is employed in a trial job, as defined in s. 49.141 (1) (n), or in a real work,
25real pay project position under s. 49.147 (3m), a person who is eligible for child care

1assistance under s. 49.155, a person who is a vocational rehabilitation referral, an
2economically disadvantaged youth, an economically disadvantaged veteran, a
3supplemental security income recipient, a general assistance recipient, an
4economically disadvantaged ex-convict, a qualified summer youth employee, as
5defined in 26 USC 51 (d) (7), a dislocated worker, as defined in 29 USC 2801 (9), or
6a food stamp recipient of supplemental nutrition assistance program benefits under
77 USC 2011 to 2036
, if the person has been certified in the manner under sub. (1dj)
8(am) 3. by a designated local agency, as defined in sub. (1dj) (am) 2.
AB40, s. 2052 9Section 2052. 71.47 (1dx) (b) (intro.) of the statutes is amended to read:
AB40,855,1610 71.47 (1dx) (b) Credit. (intro.) Except as provided in pars. (be) and (bg) and
11in s. 73.03 (35), and subject to s. 238.385 or s. 560.785, 2009 stats., for any taxable
12year for which the person is entitled under s. 238.395 (3) or s. 560.795 (3), 2009 stats.,
13to claim tax benefits or certified under s. 238.365 (3), 238.397 (4), 238.398 (3), or
14238.3995 (4) or s.
560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3),
152009 stats., or s. 560.7995 (4), 2009 stats., any person may claim as a credit against
16the taxes otherwise due under this chapter the following amounts:
AB40, s. 2053 17Section 2053. 71.47 (1dx) (b) 2. of the statutes is amended to read:
AB40,855,2218 71.47 (1dx) (b) 2. The amount determined by multiplying the amount
19determined under s. 238.385 (1) (b) or s. 560.785 (1) (b), 2009 stats., by the number
20of full-time jobs created in a development zone and filled by a member of a targeted
21group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or the
22subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40, s. 2054 23Section 2054. 71.47 (1dx) (b) 3. of the statutes is amended to read:
AB40,856,324 71.47 (1dx) (b) 3. The amount determined by multiplying the amount
25determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number

1of full-time jobs created in a development zone and not filled by a member of a
2targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) or
3the subsidies and reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40, s. 2055 4Section 2055. 71.47 (1dx) (b) 4. of the statutes is amended to read:
AB40,856,125 71.47 (1dx) (b) 4. The amount determined by multiplying the amount
6determined under s. 238.385 (1) (bm) or s. 560.785 (1) (bm), 2009 stats., by the
7number of full-time jobs retained, as provided in the rules under s. 238.385 or s.
8560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub.
9(1dj), in an enterprise development zone under s. 238.397 or s. 560.797, 2009 stats.,
10and for which significant capital investment was made and by then subtracting the
11subsidies paid under s. 49.147 (3) (a) or the subsidies and reimbursements paid
12under s. 49.147 (3m) (c) for those jobs.
AB40, s. 2056 13Section 2056. 71.47 (1dx) (b) 5. of the statutes is amended to read:
AB40,856,2014 71.47 (1dx) (b) 5. The amount determined by multiplying the amount
15determined under s. 238.385 (1) (c) or s. 560.785 (1) (c), 2009 stats., by the number
16of full-time jobs retained, as provided in the rules under s. 238.385 or s. 560.785,
172009 stats., excluding jobs for which a credit has been claimed under sub. (1dj), in
18a development zone and not filled by a member of a targeted group and by then
19subtracting the subsidies paid under s. 49.147 (3) (a) or the subsidies and
20reimbursements paid under s. 49.147 (3m) (c) for those jobs.
AB40, s. 2057 21Section 2057. 71.47 (1dx) (be) of the statutes is amended to read:
AB40,857,222 71.47 (1dx) (be) Offset. A claimant in a development zone under s. 238.395 (1)
23(e) or s.
560.795 (1) (e), 2009 stats., may offset any credits claimed under this
24subsection, including any credits carried over, against the amount of the tax
25otherwise due under this subchapter attributable to all of the claimant's income and

1against the tax attributable to income from directly related business operations of
2the claimant.
AB40, s. 2058 3Section 2058. 71.47 (1dx) (bg) of the statutes is amended to read:
AB40,857,154 71.47 (1dx) (bg) Other entities. For claimants in a development zone under s.
5238.395 (1) (e) or s. 560.795 (1) (e), 2009 stats., partnerships, limited liability
6companies, and tax-option corporations may not claim the credit under this
7subsection, but the eligibility for, and amount of, that credit shall be determined on
8the basis of their economic activity, not that of their shareholders, partners, or
9members. The corporation, partnership, or company shall compute the amount of
10the credit that may be claimed by each of its shareholders, partners, or members and
11shall provide that information to each of its shareholders, partners, or members.
12Partners, members of limited liability companies, and shareholders of tax-option
13corporations may claim the credit based on the partnership's, company's, or
14corporation's activities in proportion to their ownership interest and may offset it
15against the tax attributable to their income.
AB40, s. 2059 16Section 2059. 71.47 (1dx) (c) of the statutes is amended to read:
AB40,858,317 71.47 (1dx) (c) Credit precluded. If the certification of a person for tax benefits
18under s. 238.365 (3), 238.397 (4), 238.398 (3), or 238.3995 (4) or s. 560.765 (3), 2009
19stats., s.
560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009
20stats.,
is revoked, or if the person becomes ineligible for tax benefits under s. 238.395
21(3) or s.
560.795 (3), 2009 stats., that person may not claim credits under this
22subsection for the taxable year that includes the day on which the certification is
23revoked; the taxable year that includes the day on which the person becomes
24ineligible for tax benefits; or succeeding taxable years and that person may not carry
25over unused credits from previous years to offset tax under this chapter for the

1taxable year that includes the day on which certification is revoked; the taxable year
2that includes the day on which the person becomes ineligible for tax benefits; or
3succeeding taxable years.
AB40, s. 2060 4Section 2060. 71.47 (1dx) (d) of the statutes is amended to read:
AB40,858,125 71.47 (1dx) (d) Carry-over precluded. If a person who is entitled under s.
6238.395 (3) or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s.
7238.365 (3), 238.397 (4), 238.398 (3), or 238.3995 (4) or s. 560.765 (3), 2009 stats., s.
8560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., for
9tax benefits ceases business operations in the development zone during any of the
10taxable years that that zone exists, that person may not carry over to any taxable
11year following the year during which operations cease any unused credits from the
12taxable year during which operations cease or from previous taxable years.
AB40, s. 2061 13Section 2061. 71.47 (1dy) (a) of the statutes is amended to read:
AB40,858,1714 71.47 (1dy) (a) Definition. In this subsection, "claimant" means a person who
15files a claim under this subsection and is certified under s. 238.301 (2) or s. 560.701
16(2), 2009 stats., and authorized to claim tax benefits under s. 238.303 or s. 560.703,
172009 stats
.
AB40, s. 2062 18Section 2062. 71.47 (1dy) (b) of the statutes is amended to read:
AB40,858,2319 71.47 (1dy) (b) Filing claims. Subject to the limitations under this subsection
20and ss. 238.301 to 238.306 or s. 560.701 to 560.706, 2009 stats., for taxable years
21beginning after December 31, 2008, a claimant may claim as a credit against the tax
22imposed under s. 71.43, up to the amount of the tax, the amount authorized for the
23claimant under s. 238.303 or s. 560.703, 2009 stats.
AB40, s. 2063 24Section 2063. 71.47 (1dy) (c) 1. of the statutes is amended to read:
AB40,859,4
171.47 (1dy) (c) 1. No credit may be allowed under this subsection unless the
2claimant includes with the claimant's return a copy of the claimant's certification
3under s. 238.301 (2) or s. 560.701 (2), 2009 stats., and a copy of the claimant's notice
4of eligibility to receive tax benefits under s. 238.303 (3) or s. 560.703 (3), 2009 stats.
AB40, s. 2064 5Section 2064. 71.47 (1dy) (c) 2. of the statutes is amended to read:
AB40,859,146 71.47 (1dy) (c) 2. Partnerships, limited liability companies, and tax-option
7corporations may not claim the credit under this subsection, but the eligibility for,
8and the amount of, the credit are based on their authorization to claim tax benefits
9under s. 238.303 or s. 560.703, 2009 stats. A partnership, limited liability company,
10or tax-option corporation shall compute the amount of credit that each of its
11partners, members, or shareholders may claim and shall provide that information
12to each of them. Partners, members of limited liability companies, and shareholders
13of tax-option corporations may claim the credit in proportion to their ownership
14interests.
AB40, s. 2065 15Section 2065. 71.47 (1dy) (d) 2. of the statutes is amended to read:
AB40,859,2516 71.47 (1dy) (d) 2. If a claimant's certification is revoked under s. 238.305 or s.
17560.705, 2009 stats., or if a claimant becomes ineligible for tax benefits under s.
18238.302 or s. 560.702, 2009 stats., the claimant may not claim credits under this
19subsection for the taxable year that includes the day on which the certification is
20revoked; the taxable year that includes the day on which the claimant becomes
21ineligible for tax benefits; or succeeding taxable years and the claimant may not
22carry over unused credits from previous years to offset the tax imposed under s. 71.43
23for the taxable year that includes the day on which certification is revoked; the
24taxable year that includes the day on which the claimant becomes ineligible for tax
25benefits; or succeeding taxable years.
AB40, s. 2066
1Section 2066. 71.47 (3g) (a) (intro.) of the statutes is amended to read:
AB40,860,62 71.47 (3g) (a) (intro.) Subject to the limitations under this subsection and ss.
373.03 (35m), and 238.23 and s. 560.96, 2009 stats., a business that is certified under
4s. 238.23 (3) or s. 560.96 (3), 2009 stats., may claim as a credit against the taxes
5imposed under s. 71.43 an amount equal to the sum of the following, as established
6under s. 238.23 (3) (c) or s. 560.96 (3) (c), 2009 stats:
AB40, s. 2067 7Section 2067. 71.47 (3g) (b) of the statutes is amended to read:
AB40,860,108 71.47 (3g) (b) The department of revenue shall notify the department of
9commerce or the Wisconsin Economic Development Corporation of all claims under
10this subsection.
Loading...
Loading...