SB148: Bill Text

SB148,48,4 5. The amount determined by multiplying the amount determined under s. 235.385 (1) (c) or s. 238.385 (1) (c), 2013 stats., or s. 560.785 (1) (c), 2009 stats., by the number of full-time jobs retained, as provided in the rules under s. 235.385 or s. 238.385, 2013 stats., or s. 560.785, 2009 stats., excluding jobs for which a credit has been claimed under sub. (2dj), in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.

SB148,131 Section 131. 71.07 (2dx) (be) of the statutes is amended to read:

SB148,48,11 71.07 (2dx) (be) Offset. A claimant in a development zone under s. 235.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., may offset any credits claimed under this subsection, including any credits carried over, against the amount of the tax otherwise due under this subchapter attributable to all of the claimant's income and against the tax attributable to income from directly related business operations of the claimant.

SB148,132 Section 132. 71.07 (2dx) (bg) of the statutes is amended to read:

SB148,48,24 71.07 (2dx) (bg) Other entities. For claimants in a development zone under s. 235.395 (1) (e) or s. 238.395 (1) (e), 2013 stats., or s. 560.795 (1) (e), 2009 stats., partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or company shall compute the amount of the credit that may be claimed by each of its shareholders, partners, or members and shall provide that information to each of its shareholders, partners, or members. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit based on the partnership's, company's, or corporation's activities in proportion to their ownership interest and may offset it against the tax attributable to their income.

SB148,133 Section 133. 71.07 (2dx) (c) of the statutes is amended to read:

SB148,49,13 71.07 (2dx) (c) Credit precluded. If the certification of a person for tax benefits under s. 235.365 (3), 235.397 (4), 235.398 (3), or 235.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., is revoked, or if the person becomes ineligible for tax benefits under s. 235.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., that person may not claim credits under this subsection for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years and that person may not carry over unused credits from previous years to offset tax under this chapter for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the person becomes ineligible for tax benefits; or succeeding taxable years.

SB148,134 Section 134. 71.07 (2dx) (d) of the statutes is amended to read:

SB148,49,24 71.07 (2dx) (d) Carry-over precluded. If a person who is entitled under s. 235.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s. 235.365 (3), 235.397 (4), 235.398 (4), or 235.3995 (4) or s. 238.365 (3), 2013 stats., s. 238.397 (4), 2013 stats., s. 238.398 (3), 2013 stats., or s. 238.3995 (4), 2013 stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., for tax benefits ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.

SB148,135 Section 135. 71.07 (2dy) (a) of the statutes is amended to read:

SB148,50,4 71.07 (2dy) (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection and is certified under s. 235.301 (2) or s. 238.301 (2), 2013 stats., or s. 560.701 (2), 2009 stats., and authorized to claim tax benefits under s. 235.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.

SB148,136 Section 136. 71.07 (2dy) (b) of the statutes is amended to read:

SB148,50,11 71.07 (2dy) (b) Filing claims. Subject to the limitations under this subsection and ss. 235.301 to 235.306 or ss. 238.301 to 238.306 , 2013 stats., or ss. 560.701 to 560.706, 2009 stats., for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08, up to the amount of the tax, the amount authorized for the claimant under s. 235.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.

SB148,137 Section 137. 71.07 (2dy) (c) 1. of the statutes is amended to read:

SB148,50,17 71.07 (2dy) (c) 1. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification under s. 235.301 (2) or s. 238.301 (2), 2013 stats., or s. 560.701 (2), 2009 stats., and a copy of the claimant's notice of eligibility to receive tax benefits under s. 235.303 (3) or s. 238.303 (3), 2013 stats., or s. 560.703 (3), 2009 stats.

SB148,138 Section 138. 71.07 (2dy) (c) 2. of the statutes is amended to read:

SB148,51,2 71.07 (2dy) (c) 2. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their authorization to claim tax benefits under s. 235.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.

SB148,139 Section 139. 71.07 (2dy) (d) 2. of the statutes is amended to read:

SB148,51,14 71.07 (2dy) (d) 2. If a claimant's certification is revoked under s. 235.305 or s. 238.305, 2013 stats., or s. 560.705, 2009 stats., or if a claimant becomes ineligible for tax benefits under s. 235.302 or s. 238.302, 2013 stats., or s. 560.702, 2009 stats., the claimant may not claim credits under this subsection for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the claimant becomes ineligible for tax benefits; or succeeding taxable years and the claimant may not carry over unused credits from previous years to offset the tax imposed under s. 71.02 or 71.08 for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the claimant becomes ineligible for tax benefits; or succeeding taxable years.

SB148,140 Section 140. 71.07 (3g) (a) (intro.) of the statutes is amended to read:

SB148,51,21 71.07 (3g) (a) (intro.) Subject to the limitations under this subsection and ss. 73.03 (35m) and 235.23 and s. 238.23, 2013 stats., and s. 560.96, 2009 stats., a business that is certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96 (3), 2009 stats., may claim as a credit against the taxes imposed under s. 71.02 an amount equal to the sum of the following, as established under s. 235.23 (3) (c) or s. 238.23 (3) (c), 2013 stats., or s. 560.96 (3) (c), 2009 stats.:

SB148,141 Section 141. 71.07 (3g) (b) of the statutes is amended to read:

SB148,51,25 71.07 (3g) (b) The department of revenue shall notify the department of commerce or the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority of all claims under this subsection.

SB148,142 Section 142. 71.07 (3g) (e) 2. of the statutes is amended to read:

SB148,52,5 71.07 (3g) (e) 2. The investments that relate to the amount described under par. (a) 2. for which a claimant makes a claim under this subsection must be retained for use in the technology zone for the period during which the claimant's business is certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96 (3), 2009 stats.

SB148,143 Section 143. 71.07 (3g) (f) 1. of the statutes is amended to read:

SB148,52,10 71.07 (3g) (f) 1. A copy of the verification that the claimant's business is certified under s. 235.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96 (3), 2009 stats., and that the business has entered into an agreement under s. 235.23 (3) (d) or s. 238.23 (3) (d), 2013 stats., or s. 560.96 (3) (d), 2009 stats.

SB148,144 Section 144. 71.07 (3g) (f) 2. of the statutes is amended to read:

SB148,52,15 71.07 (3g) (f) 2. A statement from the department of commerce or the Wisconsin Economic Development Corporation or the Forward Wisconsin Development Authority verifying the purchase price of the investment described under par. (a) 2. and verifying that the investment fulfills the requirement under par. (e) 2.

SB148,145 Section 145. 71.07 (3q) (a) 1. of the statutes is amended to read:

SB148,52,18 71.07 (3q) (a) 1. "Claimant" means a person certified to receive tax benefits under s. 235.16 (2) or s. 238.16 (2), 2013 stats., or s. 560.2055 (2), 2009 stats.

SB148,146 Section 146. 71.07 (3q) (a) 2. of the statutes is amended to read:

SB148,52,25 71.07 (3q) (a) 2. "Eligible employee" means, for taxable years beginning before January 1, 2011, an eligible employee under s. 560.2055 (1) (b), 2009 stats., who satisfies the wage requirements under s. 560.2055 (3) (a) or (b), 2009 stats., or, for taxable years beginning after December 31, 2010, an eligible employee under s. 238.16 235.16 (1) (b) who satisfies the wage requirements under s. 238.16 235.16 (3) (a) or (b).

SB148,147 Section 147. 71.07 (3q) (b) (intro.) of the statutes is amended to read:

SB148,53,5 71.07 (3q) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and s. 235.16 or s. 238.16, 2013 stats., or s. 560.2055, 2009 stats., for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the taxes imposed under ss. 71.02 and 71.08 any of the following:

SB148,148 Section 148. 71.07 (3q) (b) 1. of the statutes is amended to read:

SB148,53,11 71.07 (3q) (b) 1. The amount of wages that the claimant paid to an eligible employee in the taxable year, not to exceed 10 percent of such wages, as determined by the Forward Wisconsin Development Authority under s. 235.16 or the Wisconsin Economic Development Corporation under s. 238.16, 2013 stats., or the department of commerce under s. 560.2055, 2009 stats.

SB148,149 Section 149. 71.07 (3q) (b) 2. of the statutes is amended to read:

SB148,53,16 71.07 (3q) (b) 2. The amount of the costs incurred by the claimant in the taxable year, as determined under s. 235.16 or s. 238.16, 2013 stats., or s. 560.2055, 2009 stats., to undertake the training activities described under s. 235.16 (3) (c) or s. 238.16 (3) (c), 2013 stats., or s. 560.2055 (3) (c), 2009 stats.

SB148,150 Section 150. 71.07 (3q) (c) 2. of the statutes is amended to read:

SB148,53,21 71.07 (3q) (c) 2. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification for tax benefits under s. 235.16 (2) or s. 238.16 (2) , 2013 stats., or s. 560.2055 (2), 2009 stats.

SB148,151 Section 151. 71.07 (3q) (c) 3. of the statutes is amended to read:

SB148,54,2 71.07 (3q) (c) 3. The maximum amount of credits that may be awarded under this subsection and ss. 71.28 (3q) and 71.47 (3q) for the period beginning on January 1, 2010, and ending on June 30, 2013, is $14,500,000, not including the amount of any credits reallocated under s. 238.15 (3) (d), 2013 stats., or s. 560.205 (3) (d), 2009 stats.

SB148,152 Section 152. 71.07 (3w) (a) 2. of the statutes is amended to read:

SB148,54,6 71.07 (3w) (a) 2. "Claimant" means a person who is certified to claim tax benefits under s. 235.399 (5) or s. 238.399 (5), 2013 stats., or s. 560.799 (5), 2009 stats., and who files a claim under this subsection.

SB148,153 Section 153. 71.07 (3w) (a) 3. of the statutes is amended to read:

SB148,54,10 71.07 (3w) (a) 3. "Full-time employee" means a full-time employee, as defined in s. 235.399 (1) (am) or s. 238.399 (1) (am), 2013 stats., or s. 560.799 (1) (am), 2009 stats.

SB148,154 Section 154. 71.07 (3w) (a) 4. of the statutes is amended to read:

SB148,54,13 71.07 (3w) (a) 4. "Enterprise zone" means a zone designated under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats.

SB148,155 Section 155. 71.07 (3w) (a) 5d. of the statutes is amended to read:

SB148,54,17 71.07 (3w) (a) 5d. "Tier I county or municipality" means a tier I county or municipality, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats.

SB148,156 Section 156. 71.07 (3w) (a) 5e. of the statutes is amended to read:

SB148,54,21 71.07 (3w) (a) 5e. "Tier II county or municipality" means a tier II county or municipality, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats.

SB148,157 Section 157. 71.07 (3w) (b) (intro.) of the statutes is amended to read:

SB148,55,2 71.07 (3w) (b) Filing claims; payroll. (intro.) Subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount calculated as follows:

SB148,158 Section 158. 71.07 (3w) (b) 5. of the statutes is amended to read:

SB148,55,6 71.07 (3w) (b) 5. Multiply the amount determined under subd. 4. by the percentage determined by under s. 235.399 or s. 238.399 , 2013 stats., or s. 560.799, 2009 stats., not to exceed 7 percent.

SB148,159 Section 159. 71.07 (3w) (bm) 1. of the statutes is amended to read:

SB148,55,18 71.07 (3w) (bm) 1. In addition to the credits under par. (b) and subds. 2., 3., and 4., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount equal to a percentage, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., not to exceed 100 percent, of the amount the claimant paid in the taxable year to upgrade or improve the job-related skills of any of the claimant's full-time employees, to train any of the claimant's full-time employees on the use of job-related new technologies, or to provide job-related training to any full-time employee whose employment with the claimant represents the employee's first full-time job. This subdivision does not apply to employees who do not work in an enterprise zone.

SB148,160 Section 160. 71.07 (3w) (bm) 2. of the statutes is amended to read:

SB148,56,9 71.07 (3w) (bm) 2. In addition to the credits under par. (b) and subds. 1., 3., and 4., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 an amount equal to the percentage, as determined under s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., not to exceed 7 percent, of the claimant's zone payroll paid in the taxable year to all of the claimant's full-time employees whose annual wages are greater than the amount determined by multiplying 2,080 by 150 percent of the federal minimum wage in a tier I county or municipality, not including the wages paid to the employees determined under par. (b) 1., or greater than $30,000 in a tier II county or municipality, not including the wages paid to the employees determined under par. (b) 1., and who the claimant employed in the enterprise zone in the taxable year, if the total number of such employees is equal to or greater than the total number of such employees in the base year. A claimant may claim a credit under this subdivision for no more than 5 consecutive taxable years.

SB148,161 Section 161. 71.07 (3w) (bm) 3. of the statutes is amended to read:

SB148,56,17 71.07 (3w) (bm) 3. In addition to the credits under par. (b) and subds. 1., 2., and 4., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08 up to 10 percent of the claimant's significant capital expenditures, as determined under s. 235.399 (5m) or s. 238.399 (5m), 2013 stats., or s. 560.799 (5m), 2009 stats.

SB148,162 Section 162. 71.07 (3w) (bm) 4. of the statutes is amended to read:

SB148,57,3 71.07 (3w) (bm) 4. In addition to the credits under par. (b) and subds. 1., 2., and 3., and subject to the limitations provided in this subsection and s. 235.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats., for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08, up to 1 percent of the amount that the claimant paid in the taxable year to purchase tangible personal property, items, property, or goods under s. 77.52 (1) (b), (c), or (d), or services from Wisconsin vendors, as determined under s. 235.399 (5) (e) or s. 238.399 (5) (e), 2013 stats., or s. 560.799 (5) (e), 2009 stats., except that the claimant may not claim the credit under this subdivision and subd. 3. for the same expenditures.

SB148,163 Section 163. 71.07 (3w) (c) 3. of the statutes is amended to read:

SB148,57,8 71.07 (3w) (c) 3. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification for tax benefits under s. 235.399 (5) or (5m) or s. 238.399 (5) or (5m), 2013 stats., or s. 560.799 (5) or (5m), 2009 stats.

SB148,164 Section 164. 71.07 (3w) (d) of the statutes is amended to read:

SB148,57,15 71.07 (3w) (d) Administration. Section 71.28 (4) (g) and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. Claimants shall include with their returns a copy of their certification for tax benefits, and a copy of the verification of their expenses, from the department of commerce or the Wisconsin Economic Development Corporation or the Forward Wisconsin Development Authority.

SB148,165 Section 165. 71.07 (5b) (a) 2. of the statutes is amended to read:

SB148,57,18 71.07 (5b) (a) 2. "Fund manager" means an investment fund manager certified under s. 235.15 (2) or s. 238.15 (2), 2013 stats.,   or s. 560.205 (2), 2009 stats.

SB148,166 Section 166. 71.07 (5b) (b) 1. of the statutes is amended to read:

SB148,58,2 71.07 (5b) (b) 1. For taxable years beginning after December 31, 2004, subject to the limitations provided under this subsection and s. 235.15 or s. 238.15, 2013 stats., or s. 560.205, 2009 stats., and except as provided in subd. 2., a claimant may claim as a credit against the tax imposed under ss. 71.02 and 71.08, up to the amount of those taxes, 25 percent of the claimant's investment paid to a fund manager that the fund manager invests in a business certified under s. 235.15 or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.

SB148,167 Section 167. 71.07 (5b) (b) 2. of the statutes is amended to read:

SB148,58,12 71.07 (5b) (b) 2. In the case of a partnership, limited liability company, or tax-option corporation, the computation of the 25 percent limitation under subd. 1. shall be determined at the entity level rather than the claimant level and may be allocated among the claimants who make investments in the manner set forth in the entity's organizational documents. The entity shall provide to the department of revenue and to the department of commerce or the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority the names and tax identification numbers of the claimants, the amounts of the credits allocated to the claimants, and the computation of the allocations.

SB148,168 Section 168. 71.07 (5b) (d) 3. of the statutes is amended to read:

SB148,58,18 71.07 (5b) (d) 3. Except as provided under s. 238.15 235.15 (3) (d) (intro.), for investments made after December 31, 2007, if an investment for which a claimant claims a credit under par. (b) is held by the claimant for less than 3 years, the claimant shall pay to the department, in the manner prescribed by the department, the amount of the credit that the claimant received related to the investment.

SB148,169 Section 169. 71.07 (5d) (a) 1. (intro.) of the statutes is amended to read:

SB148,58,22 71.07 (5d) (a) 1. (intro.) "Bona fide angel investment" means a purchase of an equity interest, or any other expenditure, as determined by rule under s. 235.15 or s. 238.15, 2013 stats., or s. 560.205, 2009 stats., that is made by any of the following:

SB148,170 Section 170. 71.07 (5d) (a) 2m. of the statutes is amended to read:

SB148,59,2 71.07 (5d) (a) 2m. "Person" means a partnership or limited liability company that is a nonoperating entity, as determined by the department of commerce or the Wisconsin Economic Development Corporation Forward Wisconsin Development Authority, a natural person, or fiduciary.

SB148,171 Section 171. 71.07 (5d) (a) 3. of the statutes is amended to read:

SB148,59,5 71.07 (5d) (a) 3. "Qualified new business venture" means a business that is certified under s. 235.15 (1) or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.

SB148,172 Section 172. 71.07 (5d) (b) (intro.) of the statutes is amended to read:

SB148,59,10 71.07 (5d) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and in s. 235.15 or s. 238.15, 2013 stats., or s. 560.205, 2009 stats., a claimant may claim as a credit against the tax imposed under s. 71.02 or 71.08, up to the amount of those taxes, the following:

SB148,173 Section 173. 71.07 (5d) (b) 1. of the statutes is amended to read:

SB148,59,17 71.07 (5d) (b) 1. For taxable years beginning before January 1, 2008, in each taxable year for 2 consecutive years, beginning with the taxable year as certified by the department of commerce or, the Wisconsin Economic Development Corporation, or the Forward Wisconsin Development Authority, an amount equal to 12.5 percent of the claimant's bona fide angel investment made directly in a qualified new business venture.

SB148,174 Section 174. 71.07 (5d) (b) 2. of the statutes is amended to read:

SB148,59,23 71.07 (5d) (b) 2. For taxable years beginning after December 31, 2007, for the taxable year certified by the department of commerce or , the Wisconsin Economic Development Corporation, or the Forward Wisconsin Development Authority, an amount equal to 25 percent of the claimant's bona fide angel investment made directly in a qualified new business venture.