LRB-1426/1
JK:jld:rs
2013 - 2014 LEGISLATURE
March 20, 2013 - Introduced by Senators Petrowski and Leibham, cosponsored by
Representatives Spiros, August, Jacque, Brooks, Czaja, Honadel,
LeMahieu, Loudenbeck, Marklein, Murphy, Schraa, Strachota and
Stroebel. Referred to Committee on Workforce Development, Forestry,
Mining, and Revenue.
SB84,1,2
1An Act to amend 72.01 (11m) and 72.01 (11n); and
to create 72.36 of the
2statutes;
relating to: eliminating the estate tax.
Analysis by the Legislative Reference Bureau
This bill eliminates the state estate tax beginning with deaths occurring on
January 1, 2013.
Because this bill relates to an exemption from state or local taxes, it may be
referred to the Joint Survey Committee on Tax Exemptions for a report to be printed
as an appendix to the bill.
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:
SB84,1
3Section
1. 72.01 (11m) of the statutes is amended to read:
SB84,2,24
72.01
(11m) "Federal credit" means, for deaths occurring after September 30,
52002, and before January 1, 2008, the federal estate tax credit allowed for state death
6taxes as computed under the federal estate tax law in effect on December 31, 2000,
7and for deaths occurring after December 31, 2007,
and before January 1, 2013, the
1federal estate tax credit allowed for state death taxes as computed under the federal
2estate tax law in effect on the day of the decedent's death.
SB84,2
3Section
2. 72.01 (11n) of the statutes is amended to read:
SB84,2,84
72.01
(11n) "Federal estate tax" means, for deaths occurring after September
530, 2002, and before January 1, 2008, the federal estate tax as computed under the
6federal estate tax law in effect on December 31, 2000, and for deaths occurring after
7December 31, 2007,
and before January 1, 2013, the federal estate tax as computed
8under the federal estate tax law in effect on the day of the decedent's death.
SB84,3
9Section
3. 72.36 of the statutes is created to read:
SB84,2,11
1072.36 Sunset. The tax imposed under this chapter does not apply to deaths
11occurring after December 31, 2012.
