SB21,898,3
14. For purposes of this paragraph, the provisions of federal public laws that
2directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
3apply for Wisconsin purposes at the same time as for federal purposes.
SB21,2238
4Section
2238. 71.26 (1) (b) of the statutes is amended to read:
SB21,898,85
71.26
(1) (b)
Political units. Income received by the United States, the state
6and all counties, cities, villages, towns, school districts, technical college districts,
7joint local water authorities created under s. 66.0823,
long-term care districts under
8s. 46.2895 or other political units of this state.
SB21,2239
9Section
2239. 71.26 (1) (be) of the statutes is amended to read:
SB21,898,1410
71.26
(1) (be)
Certain authorities. Income of the University of Wisconsin
11Hospitals and Clinics Authority,
the University of Wisconsin System Authority, of
12the Fox River Navigational System Authority, of the
Wisconsin Economic
13Development Corporation Forward Wisconsin Development Authority, and of the
14Wisconsin Aerospace Authority.
SB21,2240
15Section
2240. 71.26 (1) (bm) of the statutes is amended to read:
SB21,898,2116
71.26
(1) (bm)
Certain local districts. Income of a local exposition district
17created under subch. II of ch. 229, a local professional baseball park district created
18under subch. III of ch. 229, a local professional football stadium district created
19under subch. IV of ch. 229,
or a local cultural arts district created under subch. V of
20ch. 229
, or a local sports and entertainment district created under subch. VI of ch.
21229.
SB21,2241
22Section
2241. 71.26 (1) (d) of the statutes is amended to read:
SB21,899,1023
71.26
(1) (d)
Bank in liquidation. Income of any bank placed in the hands of
24the
division of banking department of financial institutions and professional
25standards for liquidation under s. 220.08, if the tax levied, assessed or collected
1under this chapter on account of such bank diminishes the assets thereof so that full
2payment of all depositors cannot be made. Whenever the
division of banking 3department of financial institutions and professional standards certifies to the
4department of revenue that the tax or any part thereof levied and assessed under this
5chapter against any such bank will so diminish the assets thereof that full payment
6of all depositors cannot be made, the department of revenue shall cancel and abate
7such tax or part thereof, together with any penalty thereon. This paragraph shall
8apply to unpaid taxes which were levied and assessed subsequent to the time the
9bank was taken over by the
division of banking department of financial institutions
10and professional standards.
SB21,2242
11Section
2242. 71.26 (1m) (e) of the statutes is amended to read:
SB21,899,1412
71.26
(1m) (e) Those issued under s. 234.65
, 2013 stats., to fund an economic
13development loan to finance construction, renovation or development of property
14that would be exempt under s. 70.11 (36).
SB21,2243
15Section
2243. 71.26 (1m) (em) of the statutes is amended to read:
SB21,899,1916
71.26
(1m) (em) Those issued under s. 234.08
, 2013 stats., or
s. 234.61
, 2013
17stats., on or after January 1, 2004,
or the Forward Wisconsin Development Authority
18under s. 235.609 or 235.61, if the obligations are issued to fund multifamily
19affordable housing projects or elderly housing projects.
SB21,2244
20Section
2244. 71.26 (1m) (k) 1. of the statutes is amended to read:
SB21,899,2421
71.26
(1m) (k) 1. The bonds or notes are used to fund multifamily affordable
22housing projects or elderly housing projects in this state, and the
Forward Wisconsin
23Housing and Economic Development Authority has the authority to issue its bonds
24or notes for the project being funded.
SB21,2245
25Section
2245. 71.26 (1m) (m) of the statutes is amended to read:
SB21,900,3
171.26
(1m) (m) Those issued by the
Forward Wisconsin
Housing and Economic 2Development Authority to provide loans to a public affairs network under
s. 235.75
3(4) or s. 234.75 (4)
, 2013 stats.
SB21,2246
4Section
2246. 71.26 (1m) (n) of the statutes is created to read:
SB21,900,65
71.26
(1m) (n) 1. Those issued by the state under s. 16.527 (3) (d) to assist a local
6sports and entertainment district created under subch. VI of ch. 229.
SB21,900,97
2. Those issued under one of the provisions specified in s. 229.863 (3) by a local
8unit, as defined in s. 229.858 (4), to assist a local sports and entertainment district
9created under subch. VI of ch. 229.
SB21,2247
10Section
2247. 71.26 (2) (a) 1. of the statutes is repealed.
SB21,2248
11Section
2248. 71.26 (2) (a) 4. of the statutes is amended to read:
SB21,900,1812
71.26
(2) (a) 4. Plus the amount of the credit computed under s. 71.28
(1dd),
13(1de), (1di), (1dj), (1dL), (1dm),
(1ds), (1dx), (1dy), (3g), (3h), (3n), (3p), (3q), (3r),
14(3rm), (3rn), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), (8r), and
15(9s) and not passed through by a partnership, limited liability company, or
16tax-option corporation that has added that amount to the partnership's, limited
17liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k)
18(g).
SB21,2249
19Section
2249. 71.26 (2) (b) 1. of the statutes is repealed.
SB21,2250
20Section
2250. 71.26 (2) (b) 7. of the statutes is amended to read:
SB21,907,1521
71.26
(2) (b) 7. For taxable years that begin after December 31, 2008, and
22before January 1, 2011, for a corporation, conduit, or common law trust which
23qualifies as a regulated investment company, real estate mortgage investment
24conduit, real estate investment trust, or financial asset securitization investment
25trust under the Internal Revenue Code as amended to December 31, 2008, excluding
1sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
213174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
31605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
4of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of
5P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173,
6sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 102, 201, 211,
7242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305,
81308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58,
9section 11146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as
10it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135,
11sections 101, 207, 209, 503, and 513 of P.L.
109-222, P.L.
109-432, P.L.
110-28, P.L.
12110-140, P.L.
110-141, P.L.
110-142, P.L.
110-166, P.L.
110-172, P.L.
110-185, P.L.
13110-234, sections 110, 113, and 301 of P.L.
110-245, P.L.
110-246, except section
1415316 of P.L.
110-246, P.L.
110-289, except section 3093 of P.L.
110-289, P.L.
15110-317, and P.L.
110-343, except section 301 of division B and section 313 of
16division C of P.L.
110-343, and as amended by sections 1261, 1262, 1401, 1402, 1521,
171522, 1531, and 1541 of division B of P.L.
111-5, section 301 of P.L.
111-147, P.L.
18111-192, section 1601 of P.L.
111-203, section 215 of P.L.
111-226, section 2112 of P.L.
19111-240,
and P.L.
111-325,
and P.L. 113-168, and as indirectly affected in the
20provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647,
21P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
22excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
23103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
24103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188,
25excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
1104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
2105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections
3162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
4107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections
5101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
6107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
7108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
8108-218, P.L.
108-311, excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
9108-311, P.L.
108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422,
10847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
11109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
121329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146 of P.L.
13109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135, excluding
14sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
15(q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections 101, 207,
16209, 503, and 513 of P.L.
109-222, P.L.
109-227, P.L.
109-280, P.L.
110-245,
17excluding sections 110, 113, and 301 of P.L.
110-245, section 15316 of P.L.
110-246,
18section 3093 of P.L.
110-289, section 301 of division B and section 313 of division C
19of P.L.
110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401, 1402, 1521,
201522, 1531, and 1541 of division B of P.L.
111-5, section 301 of P.L.
111-147, P.L.
21111-192, section 1601 of P.L.
111-203, section 215 of P.L.
111-226, section 2112 of P.L.
22111-240,
and P.L.
111-325,
and P.L. 113-168, "net income" means the federal
23regulated investment company taxable income, federal real estate mortgage
24investment conduit taxable income, federal real estate investment trust or financial
25asset securitization investment trust taxable income of the corporation, conduit, or
1trust as determined under the Internal Revenue Code as amended to December 31,
22008, excluding sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d),
313171 (d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f),
41311, and 1605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections
5162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, sections 101
6and 301 (a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201
7of P.L.
108-173, sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, sections 101,
8102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1,
9sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351
10of P.L.
109-58, section 11146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101,
11105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
12P.L.
109-135, sections 101, 207, 209, 503, and 513 of P.L.
109-222, P.L.
109-432, P.L.
13110-28, P.L.
110-140, P.L.
110-141, P.L.
110-142, P.L.
110-166, P.L.
110-172, P.L.
14110-185, P.L.
110-234, sections 110, 113, and 301 of P.L.
110-245, P.L.
110-246,
15except section 15316 of P.L.
110-246, P.L.
110-289, except section 3093 of P.L.
16110-289, P.L.
110-317, and P.L.
110-343, except section 301 of division B and section
17313 of division C of P.L.
110-343, and as amended by sections 1261, 1262, 1401, 1402,
181521, 1522, 1531, and 1541 of division B of P.L.
111-5, section 301 of P.L.
111-147,
19P.L.
111-192, section 1601 of P.L.
111-203, section 215 of P.L.
111-226, section 2112
20of P.L.
111-240,
and P.L.
111-325,
and P.L. 113-168, and as indirectly affected in the
21provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647,
22P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
23excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
24103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
25103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188,
1excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
2104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
3105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections
4162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
5107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections
6101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
7107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
8108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
9108-218, P.L.
108-311, excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
10108-311, P.L.
108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422,
11847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
12109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
131329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146 of P.L.
14109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135, excluding
15sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
16(q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections 101, 207,
17209, 503, and 513 of P.L.
109-222, P.L.
109-227, P.L.
109-280, P.L.
110-245,
18excluding sections 110, 113, and 301 of P.L.
110-245, section 15316 of P.L.
110-246,
19section 3093 of P.L.
110-289, section 301 of division B and section 313 of division C
20of P.L.
110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401, 1402, 1521,
211522, 1531, and 1541 of division B of P.L.
111-5, section 301 of P.L.
111-147, P.L.
22111-192, section 1601 of P.L.
111-203, section 215 of P.L.
111-226, section 2112 of P.L.
23111-240,
and P.L.
111-325,
and P.L. 113-168, except that property that, under s.
2471.02 (1) (c) 8. to 11., 1985 stats., is required to be depreciated for taxable years 1983
25to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall
1continue to be depreciated under the Internal Revenue Code as amended to
2December 31, 1980, and except that the appropriate amount shall be added or
3subtracted to reflect differences between the depreciation or adjusted basis for
4federal income tax purposes and the depreciation or adjusted basis under this
5chapter of any property disposed of during the taxable year. The Internal Revenue
6Code as amended to December 31, 2008, 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,
8sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3,
94, and 5 of P.L.
106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section
10431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and
11202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403
12(a) of P.L.
108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and
13910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325,
141326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section
15301 of P.L.
109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402
16(e), 403 (e), (j), and (q), and 405 of P.L.
109-135, sections 101, 207, 209, 503, and 513
17of P.L.
109-222, P.L.
109-432, P.L.
110-28, P.L.
110-140, P.L.
110-141, P.L.
110-142,
18P.L.
110-166, P.L.
110-172, P.L.
110-185, P.L.
110-234, sections 110, 113, and 301 of
19P.L.
110-245, P.L.
110-246, except section 15316 of P.L.
110-246, P.L.
110-289,
20except section 3093 of P.L.
110-289, P.L.
110-317, and P.L.
110-343, except section
21301 of division B and section 313 of division C of P.L.
110-343, and as amended by
22sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
23111-5, section 301 of P.L.
111-147, P.L.
111-192, section 1601 of P.L.
111-203, section
24215 of P.L.
111-226, section 2112 of P.L.
111-240,
and P.L.
111-325,
and P.L. 113-168, 25and as indirectly affected in the provisions applicable to this subchapter by P.L.
199-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
2101-239, P.L.
101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
3102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150
4(d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
5103-465, P.L.
104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f),
61311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
7105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
8106-230, P.L.
106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15,
9P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
10107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
11107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections
12106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201
13of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306,
14308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 102,
15201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
16P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310,
171323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-59,
18excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding section 301 of P.L.
19109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates to section
201400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
21109-222, excluding sections 101, 207, 209, 503, and 513 of P.L.
109-222, P.L.
22109-227, P.L.
109-280, P.L.
110-245, excluding sections 110, 113, and 301 of P.L.
23110-245, section 15316 of P.L.
110-246, section 3093 of P.L.
110-289, section 301 of
24division B and section 313 of division C of P.L.
110-343, P.L.
110-351, P.L.
110-458,
25sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
1111-5, section 301 of P.L.
111-147, P.L.
111-192, section 1601 of P.L.
111-203, section
2215 of P.L.
111-226, section 2112 of P.L.
111-240,
and P.L.
111-325,
and P.L. 113-168, 3applies for Wisconsin purposes at the same time as for federal purposes.
4Amendments to the Internal Revenue Code enacted after December 31, 2008, do not
5apply to this subdivision with respect to taxable years that begin after
6December 31, 2008, and before January 1, 2011, except that changes to the Internal
7Revenue Code made by sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541
8of division B of P.L.
111-5, section 301 of P.L.
111-147, P.L.
111-192, section 1601 of
9P.L.
111-203, section 215 of P.L.
111-226, section 2112 of P.L.
111-240,
and P.L.
10111-325,
and P.L. 113-168, and changes that indirectly affect the provisions
11applicable to this subchapter made by sections 1261, 1262, 1401, 1402, 1521, 1522,
121531, and 1541 of division B of P.L.
111-5, section 301 of P.L.
111-147, P.L.
111-192,
13section 1601 of P.L.
111-203, section 215 of P.L.
111-226, section 2112 of P.L.
111-240,
14and P.L.
111-325,
and P.L. 113-168, apply for Wisconsin purposes at the same time
15as for federal purposes.
SB21,2251
16Section
2251. 71.26 (2) (b) 8. of the statutes is amended to read:
SB21,916,1117
71.26
(2) (b) 8. For taxable years that begin after December 31, 2010, and
18before January 1, 2013, for a corporation, conduit, or common law trust which
19qualifies as a regulated investment company, real estate mortgage investment
20conduit, real estate investment trust, or financial asset securitization investment
21trust under the Internal Revenue Code as amended to December 31, 2010, excluding
22sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
2313174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
241605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
25of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of
1P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173,
2sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 102, 201, 211,
3242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305,
41308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58,
5section 11146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as
6it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135,
7sections 101, 207, 503, and 513 of P.L.
109-222, P.L.
109-432, except sections 117,
8406, 409, 410, 412, 417, 418, 424, and 425 of division A and section 403 of division
9C of P.L.
109-432, P.L.
110-28, except sections 8215, 8231, 8232, 8234, and 8236 of
10P.L.
110-28, P.L.
110-140, sections 2, 3, and 5 of P.L.
110-142, P.L.
110-166, sections
113 (b) and 11 (b), (e), and (g) of P.L.
110-172, P.L.
110-185, P.L.
110-234, section 301
12of P.L.
110-245, P.L.
110-246, except sections 4, 15312, 15313, 15314, 15316, and
1315342 of P.L.
110-246, sections 3071, 3081, and 3082 of P.L.
110-289, section 9 (e) of
14P.L.
110-317, P.L.
110-343, except sections 116, 208, 211, and 301 of division B and
15sections 313 and 504 of division C of P.L.
110-343, P.L.
111-5, except sections 1261,
161262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
111-5, section 201
17of P.L.
111-147, P.L.
111-148, except sections 1322, 1515, 9003, 9021, 9022, 10108,
1810908, and 10909 of P.L.
111-148, P.L.
111-152, except section 1407 of P.L.
111-152,
19P.L.
111-203, except section 1601 of P.L.
111-203, P.L.
111-226, except sections 215
20and 217 of P.L.
111-226, P.L.
111-240, except sections 2014, 2043, 2111, 2112, and
212113 of P.L.
111-240, and P.L.
111-312, and as amended by section 902 of P.L.
22112-240 and by P.L. 113-168, and as indirectly affected in the provisions applicable
23to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
24101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
25103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
1sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
2103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
31123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
4104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
5106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
6P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
7107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a)
8of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
9excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173,
10excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
11excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
12excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
13P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections
141305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
15109-58, P.L.
109-59, excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding
16section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
17relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
18109-151, P.L.
109-222, excluding sections 101, 207, 503, and 513 of P.L.
109-222,
19P.L.
109-227, P.L.
109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
20of division A and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232,
218234, and 8236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3,
22and 5 of P.L.
110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g)
23of P.L.
110-172, P.L.
110-245, excluding section 301 of P.L.
110-245, sections 4,
2415312, 15313, 15314, 15316, and 15342 of P.L.
110-246, P.L.
110-289, excluding
25sections 3071, 3081, and 3082 of P.L.
110-289, P.L.
110-317, excluding section 9 (e)
1of P.L.
110-317, sections 116, 208, 211, and 301 of division B and sections 313 and 504
2of division C of P.L.
110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401,
31402, 1521, 1522, 1531, and 1541 of division B of P.L.
111-5, P.L.
111-92, P.L.
4111-147, excluding section 201 of P.L.
111-147, sections 1322, 1515, 9003, 9021,
59022, 10108, 10908, and 10909 of P.L.
111-148, section 1407 of P.L.
111-152, P.L.
6111-192, section 1601 of P.L.
111-203, sections 215 and 217 of P.L.
111-226, sections
72014, 2043, 2111, 2112, and 2113 of P.L.
111-240, P.L.
111-325,
and section 902 of P.L.
8112-240,
and P.L. 113-168, "net income" means the federal regulated investment
9company taxable income, federal real estate mortgage investment conduit taxable
10income, federal real estate investment trust or financial asset securitization
11investment trust taxable income of the corporation, conduit, or trust as determined
12under the Internal Revenue Code as amended to December 31, 2010, excluding
13sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
1413174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
151605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
16of P.L.
106-554, P.L.
106-573, section 431 of P.L.
107-16, sections 101 and 301 (a) of
17P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173,
18sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 102, 201, 211,
19242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305,
201308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58,
21section 11146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as
22it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135,
23sections 101, 207, 503, and 513 of P.L.
109-222, P.L.
109-432, except sections 117,
24406, 409, 410, 412, 417, 418, 424, and 425 of division A and section 403 of division
25C of P.L.
109-432, P.L.
110-28, except sections 8215, 8231, 8232, 8234, and 8236 of
1P.L.
110-28, P.L.
110-140, sections 2, 3, and 5 of P.L.
110-142, P.L.
110-166, sections
23 (b) and 11 (b), (e), and (g) of P.L.
110-172, P.L.
110-185, P.L.
110-234, section 301
3of P.L.
110-245, P.L.
110-246, except sections 4, 15312, 15313, 15314, 15316, and
415342 of P.L.
110-246, sections 3071, 3081, and 3082 of P.L.
110-289, section 9 (e) of
5P.L.
110-317, P.L.
110-343, except sections 116, 208, 211, and 301 of division B and
6sections 313 and 504 of division C of P.L.
110-343, P.L.
111-5, except sections 1261,
71262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
111-5, section 201
8of P.L.
111-147, P.L.
111-148, except sections 1322, 1515, 9003, 9021, 9022, 10108,
910908, and 10909 of P.L.
111-148, P.L.
111-152, except section 1407 of P.L.
111-152,
10P.L.
111-203, except section 1601 of P.L.
111-203, P.L.
111-226, except sections 215
11and 217 of P.L.
111-226, P.L.
111-240, except sections 2014, 2043, 2111, 2112, and
122113 of P.L.
111-240, and P.L.
111-312, and as amended by section 902 of P.L.
13112-240 and by P.L. 113-168, and as indirectly affected in the provisions applicable
14to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
15101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
16103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
17sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
18103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
191123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
20104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
21106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
22P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
23107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections 101 and 301 (a)
24of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27,
25excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173,
1excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311,
2excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357,
3excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
4P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections
51305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
6109-58, P.L.
109-59, excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding
7section 301 of P.L.
109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it
8relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
9109-151, P.L.
109-222, excluding sections 101, 207, 503, and 513 of P.L.
109-222,
10P.L.
109-227, P.L.
109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425
11of division A and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232,
128234, and 8236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3,
13and 5 of P.L.
110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g)
14of P.L.
110-172, P.L.
110-245, excluding section 301 of P.L.
110-245, sections 4,
1515312, 15313, 15314, 15316, and 15342 of P.L.
110-246, P.L.
110-289, excluding
16sections 3071, 3081, and 3082 of P.L.
110-289, P.L.
110-317, excluding section 9 (e)
17of P.L.
110-317, sections 116, 208, 211, and 301 of division B and sections 313 and 504
18of division C of P.L.
110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401,
191402, 1521, 1522, 1531, and 1541 of division B of P.L.
111-5, P.L.
111-92, P.L.
20111-147, excluding section 201 of P.L.
111-147, sections 1322, 1515, 9003, 9021,
219022, 10108, 10908, and 10909 of P.L.
111-148, section 1407 of P.L.
111-152, P.L.
22111-192, section 1601 of P.L.
111-203, sections 215 and 217 of P.L.
111-226, sections
232014, 2043, 2111, 2112, and 2113 of P.L.
111-240, P.L.
111-325,
and section 902 of P.L.
24112-240,
and P.L. 113-168, except that property that, under s. 71.02 (1) (c) 8. to 11.,
251985 stats., is required to be depreciated for taxable years 1983 to 1986 under the
1Internal Revenue Code as amended to December 31, 1980, shall continue to be
2depreciated under the Internal Revenue Code as amended to December 31, 1980,
3and except that the appropriate amount shall be added or subtracted to reflect
4differences between the depreciation or adjusted basis for federal income tax
5purposes and the depreciation or adjusted basis under this chapter of any property
6disposed of during the taxable year. The Internal Revenue Code as amended to
7December 31, 2010, excluding sections 103, 104, and 110 of P.L.
102-227, sections
813113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b),
91202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
10106-519, sections 162 and 165 of P.L.
106-554, P.L.
106-573, section 431 of P.L.
11107-16, sections 101 and 301 (a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
12108-27, section 1201 of P.L.
108-173, sections 306, 308, 316, 401, and 403 (a) of P.L.
13108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
14108-357, P.L.
109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
151329, 1348, and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section 301 of P.L.
16109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e),
17(j), and (q), and 405 of P.L.
109-135, sections 101, 207, 503, and 513 of P.L.
109-222,
18P.L.
109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of
19division A and section 403 of division C of P.L.
109-432, P.L.
110-28, except sections
208215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-140, sections 2, 3, and 5
21of P.L.
110-142, P.L.
110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
22P.L.
110-185, P.L.
110-234, section 301 of P.L.
110-245, P.L.
110-246, except sections
234, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, sections 3071, 3081, and
243082 of P.L.
110-289, section 9 (e) of P.L.
110-317, P.L.
110-343, except sections 116,
25208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
110-343,
1P.L.
111-5, except sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of
2division B of P.L.
111-5, section 201 of P.L.
111-147, P.L.
111-148, except sections
31322, 1515, 9003, 9021, 9022, 10108, 10908, and 10909 of P.L.
111-148, P.L.
111-152,
4except section 1407 of P.L.
111-152, P.L.
111-203, except section 1601 of P.L.
111-203,
5P.L.
111-226, except sections 215 and 217 of P.L.
111-226, P.L.
111-240, except
6sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240, and P.L.
111-312, and as
7amended by section 902 of P.L.
112-240 and by P.L. 113-168, and as indirectly
8affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
100-203,
9P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508,
10P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
11102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and
1213203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
13104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
14104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
15105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554,
16excluding sections 162 and 165 of P.L.
106-554, P.L.
107-15, P.L.
107-16, excluding
17section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147,
18excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
19107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
20108-27, P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
21108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 308, 316, 401, and 403
22(a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 102, 201, 211, 242, 244, 336,
23337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7,
24P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
251329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146 of P.L.
1109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135, excluding
2sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
3(q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections 101, 207,
4503, and 513 of P.L.
109-222, P.L.
109-227, P.L.
109-280, sections 117, 406, 409, 410,
5412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L.
109-432,
6sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-141, P.L.
110-142,
7excluding sections 2, 3, and 5 of P.L.
110-142, P.L.
110-172, excluding sections 3 (b)
8and 11 (b), (e), and (g) of P.L.
110-172, P.L.
110-245, excluding section 301 of P.L.
9110-245, sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, P.L.
10110-289, excluding sections 3071, 3081, and 3082 of P.L.
110-289, P.L.
110-317,
11excluding section 9 (e) of P.L.
110-317, sections 116, 208, 211, and 301 of division B
12and sections 313 and 504 of division C of P.L.
110-343, P.L.
110-351, P.L.
110-458,
13sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
14111-5, P.L.
111-92, P.L.
111-147, excluding section 201 of P.L.
111-147, sections
151322, 1515, 9003, 9021, 9022, 10108, 10908, and 10909 of P.L.
111-148, section 1407
16of P.L.
111-152, P.L.
111-192, section 1601 of P.L.
111-203, sections 215 and 217 of
17P.L.
111-226, sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240, P.L.
111-325,
18and section 902 of P.L.
112-240,
and P.L. 113-168, applies for Wisconsin purposes at
19the same time as for federal purposes, except that changes made by section 209 of
20P.L.
109-222, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division A
21and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232, 8234, and
228236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3, and 5 of P.L.
23110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
24sections 110 and 113 of P.L.
110-245, sections 15312, 15313, 15314, and 15342 of P.L.
25110-246, sections 3031, 3032, 3033, 3041, 3051, 3052, 3061, and 3092 of P.L.
1110-289, P.L.
110-317, excluding section 9 (e) of P.L.
110-317, sections 116, 208, and
2211 of division B and section 504 of division C of P.L.
110-343, section 14 of P.L.
3111-92, sections 531, 532, and 533 of P.L.
111-147, sections 10908 and 10909 of P.L.
4111-148, and section 2043 of P.L.
111-240 do not apply for taxable years beginning
5before January 1, 2011. Amendments to the Internal Revenue Code enacted after
6December 31, 2010, do not apply to this subdivision with respect to taxable years that
7begin after December 31, 2010, and before January 1, 2013, except that changes to
8the Internal Revenue Code made by section 902 of P.L.
112-240 and by P.L. 113-168,
9and changes that indirectly affect the provisions applicable to this subchapter made
10by section 902 of P.L.
112-240 and by P.L. 113-168, apply for Wisconsin purposes at
11the same time as for federal purposes.
SB21,2252
12Section
2252. 71.26 (2) (b) 9. of the statutes is amended to read:
SB21,925,1913
71.26
(2) (b) 9. For taxable years that begin after December 31, 2012,
and
14before January 1, 2014, for a corporation, conduit, or common law trust which
15qualifies as a regulated investment company, real estate mortgage investment
16conduit, real estate investment trust, or financial asset securitization investment
17trust under the Internal Revenue Code as amended to December 31, 2010, excluding
18sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
1913174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
201605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
21of P.L.
106-554, section 431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147,
22sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306,
23308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 102, 201, 211, 242, 244, 336,
24337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309,
251310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section
111146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as it relates
2to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, sections 101,
3207, 503, and 513 of P.L.
109-222, P.L.
109-432, except sections 117, 406, 409, 410,
4412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L.
109-432,
5P.L.
110-28, except sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
6110-140, sections 2, 3, and 5 of P.L.
110-142, P.L.
110-166, sections 3 (b) and 11 (b),
7(e), and (g) of P.L.
110-172, P.L.
110-185, P.L.
110-234, section 301 of P.L.
110-245,
8P.L.
110-246, except sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
9110-246, sections 3071, 3081, and 3082 of P.L.
110-289, section 9 (e) of P.L.
110-317,
10P.L.
110-343, except sections 116, 208, 211, and 301 of division B and sections 313
11and 504 of division C of P.L.
110-343, P.L.
111-5, except sections 1261, 1262, 1401,
121402, 1521, 1522, 1531, and 1541 of division B of P.L.
111-5, section 201 of P.L.
13111-147, P.L.
111-148, except sections 1322, 1515, 9003, 9004, 9005, 9012, 9013,
149014, 9016, 9021, 9022, 10108, 10902, 10908, and 10909 of P.L.
111-148, P.L.
15111-152, except sections 1403 and 1407 of P.L.
111-152, P.L.
111-203, except section
161601 of P.L.
111-203, P.L.
111-226, except sections 215 and 217 of P.L.
111-226, P.L.
17111-240, except sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240, and P.L.
18111-312, and as amended by section 1858 of P.L.
112-10, section 1108 of P.L.
112-95,
19sections 40211, 40241, 40242, and 100121 of P.L.
112-141,
and sections 101 and 902
20of P.L.
112-240,
and P.L. 113-168, and as indirectly affected in the provisions
21applicable to this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
22101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227,
23excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
24103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
25103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188,
1excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
2104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
3105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections
4162 and 165 of P.L.
106-554, P.L.
106-573, P.L.
107-15, P.L.
107-16, excluding
5section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147,
6excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
7107-276, P.L.
107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
8108-27, P.L.
108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
9108-203, P.L.
108-218, P.L.
108-311, excluding sections 306, 308, 316, 401, and 403
10(a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 102, 201, 211, 242, 244, 336,
11337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7,
12P.L.
109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
131329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146 of P.L.
14109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135, excluding
15sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
16(q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections 101, 207,
17503, and 513 of P.L.
109-222, P.L.
109-227, P.L.
109-280, sections 117, 406, 409, 410,
18412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L.
109-432,
19sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-141, P.L.
110-142,
20excluding sections 2, 3, and 5 of P.L.
110-142, P.L.
110-172, excluding sections 3 (b)
21and 11 (b), (e), and (g) of P.L.
110-172, P.L.
110-245, excluding section 301 of P.L.
22110-245, sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, P.L.
23110-289, excluding sections 3071, 3081, and 3082 of P.L.
110-289, P.L.
110-317,
24excluding section 9 (e) of P.L.
110-317, sections 116, 208, 211, and 301 of division B
25and sections 313 and 504 of division C of P.L.
110-343, P.L.
110-351, P.L.
110-458,
1sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
2111-5, P.L.
111-92, P.L.
111-147, excluding section 201 of P.L.
111-147, sections
31322, 1515, 9003, 9004, 9005, 9012, 9013, 9014, 9016, 9021, 9022, 10108, 10902,
410908, and 10909 of P.L.
111-148, sections 1403 and 1407 of P.L.
111-152, P.L.
5111-192, section 1601 of P.L.
111-203, sections 215 and 217 of P.L.
111-226, sections
62014, 2043, 2111, 2112, and 2113 of P.L.
111-240, P.L.
111-325, section 1858 of P.L.
7112-10, section 1108 of P.L.
112-95, sections 40211, 40241, 40242, and 100121 of P.L.
8112-141,
and sections 101 and 902 of P.L.
112-240,
and P.L. 113-168, "net income"
9means the federal regulated investment company taxable income, federal real estate
10mortgage investment conduit taxable income, federal real estate investment trust
11or financial asset securitization investment trust taxable income of the corporation,
12conduit, or trust as determined under the Internal Revenue Code as amended to
13December 31, 2010, excluding sections 103, 104, and 110 of P.L.
102-227, sections
1413113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, sections 1123 (b),
151202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
16106-519, sections 162 and 165 of P.L.
106-554, section 431 of P.L.
107-16, sections
17101 and 301 (a) of P.L.
107-147, sections 106, 201, and 202 of P.L.
108-27, section
181201 of P.L.
108-173, sections 306, 308, 316, 401, and 403 (a) of P.L.
108-311, sections
19101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
20109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348,
21and 1351 of P.L.
109-58, section 11146 of P.L.
109-59, section 301 of P.L.
109-73,
22sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
23(q), and 405 of P.L.
109-135, sections 101, 207, 503, and 513 of P.L.
109-222, P.L.
24109-432, except sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division
25A and section 403 of division C of P.L.
109-432, P.L.
110-28, except sections 8215,
18231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-140, sections 2, 3, and 5 of P.L.
2110-142, P.L.
110-166, sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172, P.L.
3110-185, P.L.
110-234, section 301 of P.L.
110-245, P.L.
110-246, except sections 4,
415312, 15313, 15314, 15316, and 15342 of P.L.
110-246, sections 3071, 3081, and
53082 of P.L.
110-289, section 9 (e) of P.L.
110-317, P.L.
110-343, except sections 116,
6208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
110-343,
7P.L.
111-5, except sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of
8division B of P.L.
111-5, section 201 of P.L.
111-147, P.L.
111-148, except sections
91322, 1515, 9003, 9004, 9005, 9012, 9013, 9014, 9016, 9021, 9022, 10108, 10902,
1010908, and 10909 of P.L.
111-148, P.L.
111-152, except sections 1403 and 1407 of P.L.
11111-152, P.L.
111-203, except section 1601 of P.L.
111-203, P.L.
111-226, except
12sections 215 and 217 of P.L.
111-226, P.L.
111-240, except sections 2014, 2043, 2111,
132112, and 2113 of P.L.
111-240, and P.L.
111-312, and as amended by section 1858
14of P.L.
112-10, section 1108 of P.L.
112-95, sections 40211, 40241, 40242, and 100121
15of P.L.
112-141,
and sections 101 and 902 of P.L.
112-240,
and P.L. 113-168, and as
16indirectly affected in the provisions applicable to this subchapter by P.L.
99-514, P.L.
17100-203, P.L.
100-647, P.L.
101-73, P.L.
101-140, P.L.
101-179, P.L.
101-239, P.L.
18101-508, P.L.
102-227, excluding sections 103, 104, and 110 of P.L.
102-227, P.L.
19102-318, P.L.
102-486, P.L.
103-66, excluding sections 13113, 13150 (d), 13171 (d),
2013174, and 13203 (d) of P.L.
103-66, P.L.
103-296, P.L.
103-337, P.L.
103-465, P.L.
21104-7, P.L.
104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605
22(d) of P.L.
104-188, P.L.
104-191, P.L.
104-193, P.L.
105-33, P.L.
105-34, P.L.
23105-178, P.L.
105-206, P.L.
105-277, P.L.
106-36, P.L.
106-170, P.L.
106-230, P.L.
24106-554, excluding sections 162 and 165 of P.L.
106-554, P.L.
106-573, P.L.
107-15,
25P.L.
107-16, excluding section 431 of P.L.
107-16, P.L.
107-22, P.L.
107-116, P.L.
1107-134, P.L.
107-147, excluding sections 101 and 301 (a) of P.L.
107-147, P.L.
2107-181, P.L.
107-210, P.L.
107-276, P.L.
107-358, P.L.
108-27, excluding sections
3106, 201, and 202 of P.L.
108-27, P.L.
108-121, P.L.
108-173, excluding section 1201
4of P.L.
108-173, P.L.
108-203, P.L.
108-218, P.L.
108-311, excluding sections 306,
5308, 316, 401, and 403 (a) of P.L.
108-311, P.L.
108-357, excluding sections 101, 102,
6201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
108-375,
7P.L.
108-476, P.L.
109-7, P.L.
109-58, excluding sections 1305, 1308, 1309, 1310,
81323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, P.L.
109-59,
9excluding section 11146 of P.L.
109-59, P.L.
109-73, excluding section 301 of P.L.
10109-73, P.L.
109-135, excluding sections 101, 105, 201 (a) as it relates to section
111400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
12109-222, excluding sections 101, 207, 503, and 513 of P.L.
109-222, P.L.
109-227,
13P.L.
109-280, sections 117, 406, 409, 410, 412, 417, 418, 424, and 425 of division A
14and section 403 of division C of P.L.
109-432, sections 8215, 8231, 8232, 8234, and
158236 of P.L.
110-28, P.L.
110-141, P.L.
110-142, excluding sections 2, 3, and 5 of P.L.
16110-142, P.L.
110-172, excluding sections 3 (b) and 11 (b), (e), and (g) of P.L.
110-172,
17P.L.
110-245, excluding section 301 of P.L.
110-245, sections 4, 15312, 15313, 15314,
1815316, and 15342 of P.L.
110-246, P.L.
110-289, excluding sections 3071, 3081, and
193082 of P.L.
110-289, P.L.
110-317, excluding section 9 (e) of P.L.
110-317, sections
20116, 208, 211, and 301 of division B and sections 313 and 504 of division C of P.L.
21110-343, P.L.
110-351, P.L.
110-458, sections 1261, 1262, 1401, 1402, 1521, 1522,
221531, and 1541 of division B of P.L.
111-5, P.L.
111-92, P.L.
111-147, excluding
23section 201 of P.L.
111-147, sections 1322, 1515, 9003, 9004, 9005, 9012, 9013, 9014,
249016, 9021, 9022, 10108, 10902, 10908, and 10909 of P.L.
111-148, section 1407 of
25P.L.
111-152, P.L.
111-192, section 1601 of P.L.
111-203, sections 215 and 217 of P.L.
1111-226, sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240, P.L.
111-325,
2section 1858 of P.L.
112-10, section 1108 of P.L.
112-95, sections 40211, 40241, 40242,
3and 100121 of P.L.
112-141,
and sections 101 and 902 of P.L.
112-240,
and P.L.
4113-168, except that property that, under s. 71.02 (1) (c) 8. to 11., 1985 stats., is
5required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue
6Code as amended to December 31, 1980, shall continue to be depreciated under the
7Internal Revenue Code as amended to December 31, 1980, and except that the
8appropriate amount shall be added or subtracted to reflect differences between the
9depreciation or adjusted basis for federal income tax purposes and the depreciation
10or adjusted basis under this chapter of any property disposed of during the taxable
11year. The Internal Revenue Code as amended to December 31, 2010, excluding
12sections 103, 104, and 110 of P.L.
102-227, sections 13113, 13150 (d), 13171 (d),
1313174, and 13203 (d) of P.L.
103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and
141605 (d) of P.L.
104-188, sections 1, 3, 4, and 5 of P.L.
106-519, sections 162 and 165
15of P.L.
106-554, section 431 of P.L.
107-16, sections 101 and 301 (a) of P.L.
107-147,
16sections 106, 201, and 202 of P.L.
108-27, section 1201 of P.L.
108-173, sections 306,
17308, 316, 401, and 403 (a) of P.L.
108-311, sections 101, 102, 201, 211, 242, 244, 336,
18337, 422, 847, 909, and 910 of P.L.
108-357, P.L.
109-1, sections 1305, 1308, 1309,
191310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of P.L.
109-58, section
2011146 of P.L.
109-59, section 301 of P.L.
109-73, sections 101, 105, 201 (a) as it relates
21to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of P.L.
109-135, sections 101,
22207, 503, and 513 of P.L.
109-222, P.L.
109-432, except sections 117, 406, 409, 410,
23412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L.
109-432,
24P.L.
110-28, except sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
25110-140, sections 2, 3, and 5 of P.L.
110-142, P.L.
110-166, sections 3 (b) and 11 (b),
1(e), and (g) of P.L.
110-172, P.L.
110-185, P.L.
110-234, section 301 of P.L.
110-245,
2P.L.
110-246, except sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
3110-246, sections 3071, 3081, and 3082 of P.L.
110-289, section 9 (e) of P.L.
110-317,
4P.L.
110-343, except sections 116, 208, 211, and 301 of division B and sections 313
5and 504 of division C of P.L.
110-343, P.L.
111-5, except sections 1261, 1262, 1401,
61402, 1521, 1522, 1531, and 1541 of division B of P.L.
111-5, section 201 of P.L.
7111-147, P.L.
111-148, except sections 1322, 1515, 9003, 9004, 9005, 9012, 9013,
89014, 9016, 9021, 9022, 10108, 10902, 10908, and 10909 of P.L.
111-148, P.L.
9111-152, except section 1407 of P.L.
111-152, P.L.
111-203, except section 1601 of P.L.
10111-203, P.L.
111-226, except sections 215 and 217 of P.L.
111-226, P.L.
111-240,
11except sections 2014, 2043, 2111, 2112, and 2113 of P.L.
111-240, and P.L.
111-312,
12and as amended by section 1858 of P.L.
112-10, section 1108 of P.L.
112-95, sections
1340211, 40241, 40242, and 100121 of P.L.
112-141,
and sections 101 and 902 of P.L.
14112-240,
and P.L. 113-168, and as indirectly affected in the provisions applicable to
15this subchapter by P.L.
99-514, P.L.
100-203, P.L.
100-647, P.L.
101-73, P.L.
16101-140, P.L.
101-179, P.L.
101-239, P.L.
101-508, P.L.
102-227, excluding sections
17103, 104, and 110 of P.L.
102-227, P.L.
102-318, P.L.
102-486, P.L.
103-66, excluding
18sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L.
103-66, P.L.
19103-296, P.L.
103-337, P.L.
103-465, P.L.
104-7, P.L.
104-188, excluding sections
201123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L.
104-188, P.L.
104-191, P.L.
21104-193, P.L.
105-33, P.L.
105-34, P.L.
105-178, P.L.
105-206, P.L.
105-277, P.L.
22106-36, P.L.
106-170, P.L.
106-230, P.L.
106-554, excluding sections 162 and 165 of
23P.L.
106-554, P.L.
106-573, P.L.
107-15, P.L.
107-16, excluding section 431 of P.L.
24107-16, P.L.
107-22, P.L.
107-116, P.L.
107-134, P.L.
107-147, excluding sections
25101 and 301 (a) of P.L.
107-147, P.L.
107-181, P.L.
107-210, P.L.
107-276, P.L.
1107-358, P.L.
108-27, excluding sections 106, 201, and 202 of P.L.
108-27, P.L.
2108-121, P.L.
108-173, excluding section 1201 of P.L.
108-173, P.L.
108-203, P.L.
3108-218, P.L.
108-311, excluding sections 306, 308, 316, 401, and 403 (a) of P.L.
4108-311, P.L.
108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422,
5847, 909, and 910 of P.L.
108-357, P.L.
108-375, P.L.
108-476, P.L.
109-7, P.L.
6109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328,
71329, 1348, and 1351 of P.L.
109-58, P.L.
109-59, excluding section 11146 of P.L.
8109-59, P.L.
109-73, excluding section 301 of P.L.
109-73, P.L.
109-135, excluding
9sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and
10(q), and 405 of P.L.
109-135, P.L.
109-151, P.L.
109-222, excluding sections 101, 207,
11503, and 513 of P.L.
109-222, P.L.
109-227, P.L.
109-280, sections 117, 406, 409, 410,
12412, 417, 418, 424, and 425 of division A and section 403 of division C of P.L.
109-432,
13sections 8215, 8231, 8232, 8234, and 8236 of P.L.
110-28, P.L.
110-141, P.L.
110-142,
14excluding sections 2, 3, and 5 of P.L.
110-142, P.L.
110-172, excluding sections 3 (b)
15and 11 (b), (e), and (g) of P.L.
110-172, P.L.
110-245, excluding section 301 of P.L.
16110-245, sections 4, 15312, 15313, 15314, 15316, and 15342 of P.L.
110-246, P.L.
17110-289, excluding sections 3071, 3081, and 3082 of P.L.
110-289, P.L.
110-317,
18excluding section 9 (e) of P.L.
110-317, sections 116, 208, 211, and 301 of division B
19and sections 313 and 504 of division C of P.L.
110-343, P.L.
110-351, P.L.
110-458,
20sections 1261, 1262, 1401, 1402, 1521, 1522, 1531, and 1541 of division B of P.L.
21111-5, P.L.
111-92, P.L.
111-147, excluding section 201 of P.L.
111-147, sections
221322, 1515, 9003, 9004, 9005, 9012, 9013, 9014, 9016, 9021, 9022, 10108, 10902,
2310908, and 10909 of P.L.
111-148, sections 1403 and 1407 of P.L.
111-152, P.L.
24111-192, section 1601 of P.L.
111-203, sections 215 and 217 of P.L.
111-226, sections
252014, 2043, 2111, 2112, and 2113 of P.L.
111-240, P.L.
111-325, section 1858 of P.L.
1112-10, section 1108 of P.L.
112-95, sections 40211, 40241, 40242, and 100121 of P.L.
2112-141,
and sections 101 and 902 of P.L.
112-240, and P.L. 113-168, applies for
3Wisconsin purposes at the same time as for federal purposes, except that changes
4made by P.L.
106-573, sections 9004, 9005, 9012, 9013, 9014, 9016, and 10902 of P.L.
5111-148, and sections 1403 and 1407 of P.L.
111-152, section 1858 of P.L.
112-10,
6section 1108 of P.L.
112-95, and sections 40211, 40241, 40242, and 100121 of P.L.
7112-141 do not apply for taxable years beginning before January 1, 2013.
8Amendments to the federal Internal Revenue Code enacted after December 31, 2010,
9do not apply to this paragraph with respect to taxable years beginning after
10December 31, 2010, except that changes to the Internal Revenue Code made by
11section 1858 of P.L.
112-10, section 1108 of P.L.
112-95, and sections 40211, 40241,
1240242, and 100121 of P.L.
112-141, and changes that indirectly affect the provisions
13applicable to this subchapter made by section 1858 of P.L.
112-10, section 1108 of P.L.
14112-95, and sections 40211, 40241, 40242, and 100121 of P.L.
112-141, do not apply
15for taxable years beginning before January 1, 2013, and changes to the Internal
16Revenue Code made by sections 101 and 902 of P.L.
112-240 and by P.L. 113-168, and
17changes that indirectly affect the provisions applicable to this subchapter made by
18sections 101 and 902 of P.L.
112-240 and by P.L. 113-168, apply for Wisconsin
19purposes at the same time as for federal purposes.
SB21,2253
20Section
2253. 71.26 (2) (b) 10. of the statutes is created to read:
SB21,926,321
71.26
(2) (b) 10. a. For taxable years beginning after December 31, 2013, for a
22corporation, conduit, or common law trust which qualifies as a regulated investment
23company, real estate mortgage investment conduit, real estate investment trust, or
24financial asset securitization investment trust under the Internal Revenue Code,
25"net income" means the federal regulated investment company taxable income,
1federal real estate mortgage investment conduit taxable income, federal real estate
2investment trust or financial asset securitization investment trust taxable income
3of the corporation, conduit, or trust as determined under the Internal Revenue Code.
SB21,926,64
b. For purposes of subd. 10. a., "Internal Revenue Code" means the federal
5Internal Revenue Code as amended to December 31, 2013, except as provided in
6subds. 10. c. and 10. d. and subject to subd. 10. e.
SB21,926,197
c. For purposes of subd. 10. a., "Internal Revenue Code" does not include the
8following provisions of federal public laws for taxable years beginning after
9December 31, 2013: section 13113 of P.L
103-66; sections 1, 3, 4, and 5 of P.L.
10106-519; sections 101, 102, and 422 of P.L
108-357; sections 1310 and 1351 of P.L.
11109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
12P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
13110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; sections
1415303 and 15351 of P.L.
110-246; section 302 of division A, section 401 of division B,
15and sections 312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections
161232, 1241, 1251, 1501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213,
17214, and 216 of P.L.
111-226; sections 2011 and 2122 of P.L.
111-240; sections 753,
18754, and 760 of P.L.
111-312; section 1106 of P.L.
112-95; and sections 104, 318, 322,
19323, 324, 326, 327, and 411 of P.L.
112-240.
SB21,926,2320
d. For purposes of subd. 10. a., "Internal Revenue Code" does not include
21amendments to the federal Internal Revenue Code enacted after December 31, 2013,
22except that "Internal Revenue Code" includes the provisions of P.L.
113-97, P.L.
23113-159, and P.L.
113-168.
SB21,927,3
1e. For purposes of subd. 10. a., the provisions of federal public laws that directly
2or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply
3for Wisconsin purposes at the same time as for federal purposes.
SB21,2254
4Section
2254. 71.26 (3) (n) of the statutes is amended to read:
SB21,927,85
71.26
(3) (n) Sections 381, 382 and 383 (relating to carry-overs in certain
6corporate acquisitions) are modified so that they apply to losses under sub. (4) and
7credits under s. 71.28
(1di), (1dL), (1dm), (1dx), (3), (4), (4m), and (5) instead of to
8federal credits and federal net operating losses.
SB21,2255
9Section
2255. 71.28 (1) (a) of the statutes is amended to read:
SB21,927,2010
71.28
(1) (a) Any corporation which contributes an amount to the community
11development finance authority under s. 233.03, 1985 stats., or to the housing and
12economic development authority under s. 234.03 (32)
, 2013 stats., or to the Forward
13Wisconsin Development Authority on behalf of the community development finance
14company under s. 235.95 and, in the same year, purchases common stock or
15partnership interests of the community development finance company issued under
16s. 233.05 (2), 1985 stats., or s. 234.95 (2)
, 2013 stats., or 235.95 in an amount no
17greater than the contribution to the authority may credit against taxes otherwise
18due an amount equal to 75% of the purchase price of the stock or partnership
19interests. The credit received under this paragraph may not exceed 75% of the
20contribution
to the community development finance authority.
SB21,2256
21Section
2256. 71.28 (1dd) of the statutes is repealed.
SB21,2257
22Section
2257. 71.28 (1de) of the statutes is repealed.
SB21,2258
23Section
2258. 71.28 (1di) of the statutes is repealed.
SB21,2259
24Section
2259. 71.28 (1dj) of the statutes is repealed.
SB21,2260
25Section
2260. 71.28 (1dL) of the statutes is repealed.
SB21,2261
1Section
2261. 71.28 (1dm) (a) 1. of the statutes is amended to read:
SB21,928,62
71.28
(1dm) (a) 1. "Certified" means entitled under
s. 235.395 (3) (a) 4. or s.
3238.395 (3) (a) 4.
, 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits
4or certified under
s. 235.395 (5), 235.398 (3), or 235.3995 (4) or s. 238.395 (5),
2013
5stats., s. 238.398 (3)
, 2013 stats., or
s. 238.3995 (4)
, 2013 stats., or s. 560.795 (5), 2009
6stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.
SB21,2262
7Section
2262. 71.28 (1dm) (a) 3. of the statutes is amended to read:
SB21,928,128
71.28
(1dm) (a) 3. "Development zone" means a development opportunity zone
9under
s. 235.395 (1) (e) and (f) or 235.398 or s. 238.395 (1) (e) and (f)
, 2013 stats., or
10s. 238.398
, 2013 stats., or s. 560.795 (1) (e) and (f), 2009 stats., or s. 560.798, 2009
11stats., or an airport development zone under
s. 235.3995 or s. 238.3995
, 2013 stats., 12or s. 560.7995, 2009 stats.
SB21,2263
13Section
2263. 71.28 (1dm) (a) 4. of the statutes is amended to read:
SB21,928,2314
71.28
(1dm) (a) 4. "Previously owned property" means real property that the
15claimant or a related person owned during the 2 years prior to the department of
16commerce or the Wisconsin Economic Development Corporation
or the Forward
17Wisconsin Development Authority designating the place where the property is
18located as a development zone and for which the claimant may not deduct a loss from
19the sale of the property to, or an exchange of the property with, the related person
20under section
267 of the Internal Revenue Code, except that section
267 (b) of the
21Internal Revenue Code is modified so that if the claimant owns any part of the
22property, rather than 50% ownership, the claimant is subject to section
267 (a) (1) of
23the Internal Revenue Code for purposes of this subsection.
SB21,2264
24Section
2264. 71.28 (1dm) (f) 1. of the statutes is amended to read:
SB21,929,5
171.28
(1dm) (f) 1. A copy of the verification that the claimant may claim tax
2benefits under
s. 235.395 (3) (a) 4. or s. 238.395 (3) (a) 4.
, 2013 stats., or s. 560.795
3(3) (a) 4., 2009 stats., or is certified under
s. 235.395 (5), 235.398 (3), or 235.3995 (4)
4or s. 238.395 (5),
2013 stats., s. 238.398 (3)
, 2013 stats., or
s. 238.3995 (4)
, 2013 stats., 5or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats.
SB21,2265
6Section
2265. 71.28 (1dm) (f) 2. of the statutes is amended to read:
SB21,929,107
71.28
(1dm) (f) 2. A statement from the department of commerce or the
8Wisconsin Economic Development Corporation
or the Forward Wisconsin
9Development Authority verifying the purchase price of the investment and verifying
10that the investment fulfills the requirements under par. (b).
SB21,2266
11Section
2266. 71.28 (1dm) (i) of the statutes is amended to read:
SB21,930,212
71.28
(1dm) (i) Partnerships, limited liability companies, and tax-option
13corporations may not claim the credit under this subsection, but the eligibility for,
14and the amount of, that credit shall be determined on the basis of their economic
15activity, not that of their shareholders, partners, or members. The corporation,
16partnership, or limited liability company shall compute the amount of credit that
17may be claimed by each of its shareholders, partners, or members and provide that
18information to its shareholders, partners, or members. Partners, members of limited
19liability companies, and shareholders of tax-option corporations may claim the
20credit based on the partnership's, company's, or corporation's activities in proportion
21to their ownership interest and may offset it against the tax attributable to their
22income from the partnership's, company's, or corporation's business operations in the
23development zone; except that partners, members, and shareholders in a
24development zone under
s. 235.395 (1) (e) or s. 238.395 (1) (e)
, 2013 stats., or s.
1560.795 (1) (e), 2009 stats., may offset the credit against the amount of the tax
2attributable to their income.
SB21,2267
3Section
2267. 71.28 (1dm) (j) of the statutes is amended to read:
SB21,930,164
71.28
(1dm) (j) If a person who is entitled under
s. 235.395 (3) (a) 4. or s. 238.395
5(3) (a) 4.
, 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits becomes
6ineligible for such tax benefits, or if a person's certification under
s. 235.395 (5),
7235.398 (3), or 235.3995 (4) or s. 238.395 (5),
2013 stats., s. 238.398 (3)
, 2013 stats.,
8or
s. 238.3995 (4)
, 2013 stats., or s. 560.795 (5), 2009 stats., s. 560.798 (3), 2009 stats.,
9or s. 560.7995 (4), 2009 stats., is revoked, that person may claim no credits under this
10subsection for the taxable year that includes the day on which the person becomes
11ineligible for tax benefits, the taxable year that includes the day on which the
12certification is revoked, or succeeding taxable years, and that person may carry over
13no unused credits from previous years to offset tax under this chapter for the taxable
14year that includes the day on which the person becomes ineligible for tax benefits,
15the taxable year that includes the day on which the certification is revoked, or
16succeeding taxable years.
SB21,2268
17Section
2268. 71.28 (1dm) (k) of the statutes is amended to read:
SB21,931,218
71.28
(1dm) (k) If a person who is entitled under
s. 235.395 (3) (a) 4. or s.
19238.395 (3) (a) 4.
, 2013 stats., or s. 560.795 (3) (a) 4., 2009 stats., to claim tax benefits
20or certified under
s. 235.395 (5), 235.398 (3), or 235.3995 (4) or s. 238.395 (5),
2013
21stats., s. 238.398 (3)
, 2013 stats., or
s. 238.3995 (4)
, 2013 stats., or s. 560.795 (5), 2009
22stats., s. 560.798 (3), 2009 stats., or s. 560.7995 (4), 2009 stats., ceases business
23operations in the development zone during any of the taxable years that that zone
24exists, that person may not carry over to any taxable year following the year during
1which operations cease any unused credits from the taxable year during which
2operations cease or from previous taxable years.
SB21,2269
3Section
2269. 71.28 (1dr) of the statutes is repealed.
SB21,2270
4Section
2270. 71.28 (1ds) of the statutes is repealed.
SB21,2271
5Section
2271. 71.28 (1dx) (a) 2. of the statutes is amended to read:
SB21,931,126
71.28
(1dx) (a) 2. "Development zone" means a development zone under
s.
7235.30 or s. 238.30
, 2013 stats., or s. 560.70, 2009 stats., a development opportunity
8zone under
s. 235.395 or s. 238.395
, 2013 stats., or s. 560.795, 2009 stats., an
9enterprise development zone under
s. 235.397 or s. 238.397
, 2013 stats., or s.
10560.797, 2009 stats., an agricultural development zone under
s. 235.398 or s.
11238.398
, 2013 stats., or s. 560.798, 2009 stats., or an airport development zone under
12s. 235.3995 or s. 238.3995
, 2013 stats., or s. 560.7995, 2009 stats.
SB21,2272
13Section
2272. 71.28 (1dx) (a) 3. of the statutes is amended to read:
SB21,931,2014
71.28
(1dx) (a) 3. "Environmental remediation" means removal or
15containment of environmental pollution, as defined in s. 299.01 (4), and restoration
16of soil or groundwater that is affected by environmental pollution, as defined in s.
17299.01 (4), in a brownfield if that removal, containment or restoration fulfills the
18requirement under sub. (1de) (a) 1.
, 2013 stats., and investigation unless the
19investigation determines that remediation is required and that remediation is not
20undertaken.
SB21,2273
21Section
2273. 71.28 (1dx) (a) 4. of the statutes is amended to read:
SB21,931,2322
71.28
(1dx) (a) 4. "Full-time job" has the meaning given in s.
238.30 235.30 23(2m).
SB21,2274
24Section
2274. 71.28 (1dx) (a) 5. of the statutes is amended to read:
SB21,932,14
171.28
(1dx) (a) 5. "Member of a targeted group" means a person who resides
2in an area designated by the federal government as an economic revitalization area,
3a person who is employed in an unsubsidized job but meets the eligibility
4requirements under s. 49.145 (2) and (3) for a Wisconsin Works employment position,
5a person who is employed in a trial job, as defined in s. 49.141 (1) (n), 2011 stats., or
6in a trial employment match program job, as defined in s. 49.141 (1) (n), a person who
7is eligible for child care assistance under s. 49.155, a person who is a vocational
8rehabilitation referral, an economically disadvantaged youth, an economically
9disadvantaged veteran, a supplemental security income recipient, a general
10assistance recipient, an economically disadvantaged ex-convict, a qualified summer
11youth employee, as defined in
26 USC 51 (d) (7), a dislocated worker, as defined in
1229 USC 2801 (9), or a food stamp recipient, if the person has been certified in the
13manner under sub. (1dj) (am) 3.
, 2013 stats., by a designated local agency, as defined
14in sub. (1dj) (am) 2
., 2013 stats.
SB21,2275
15Section
2275. 71.28 (1dx) (b) (intro.) of the statutes is amended to read:
SB21,932,2416
71.28
(1dx) (b)
Credit. (intro.) Except as provided in pars. (be) and (bg) and
17in s. 73.03 (35), and subject to
s. 235.385 or s. 238.385
, 2013 stats., or s. 560.785, 2009
18stats., for any taxable year for which the person is entitled under
s. 235.395 (3) or s.
19238.395 (3)
, 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified
20under
s. 235.365 (3), 235.397 (4), 235.398 (3), or 235.3995 (4) or s. 238.365 (3),
2013
21stats., s. 238.397 (4),
2013 stats., s. 238.398 (3)
, 2013 stats., or
s. 238.3995 (4)
, 2013
22stats., or s. 560.765 (3), 2009 stats., s. 560.797 (4), 2009 stats., s. 560.798 (3), 2009
23stats., or s. 560.7995 (4), 2009 stats., any person may claim as a credit against the
24taxes otherwise due under this chapter the following amounts:
SB21,2276
25Section
2276. 71.28 (1dx) (b) 2. of the statutes is amended to read:
SB21,933,5
171.28
(1dx) (b) 2. The amount determined by multiplying the amount
2determined under
s. 235.385 (1) (b) or s. 238.385 (1) (b)
, 2013 stats., or s. 560.785 (1)
3(b), 2009 stats., by the number of full-time jobs created in a development zone and
4filled by a member of a targeted group and by then subtracting the subsidies paid
5under s. 49.147 (3) (a) for those jobs.
SB21,2277
6Section
2277. 71.28 (1dx) (b) 3. of the statutes is amended to read:
SB21,933,117
71.28
(1dx) (b) 3. The amount determined by multiplying the amount
8determined under
s. 235.385 (1) (c) or s. 238.385 (1) (c)
, 2013 stats., or s. 560.785 (1)
9(c), 2009 stats., by the number of full-time jobs created in a development zone and
10not filled by a member of a targeted group and by then subtracting the subsidies paid
11under s. 49.147 (3) (a) for those jobs.
SB21,2278
12Section
2278. 71.28 (1dx) (b) 4. of the statutes is amended to read:
SB21,933,2013
71.28
(1dx) (b) 4. The amount determined by multiplying the amount
14determined under
s. 235.385 (1) (bm) or s. 238.385 (1) (bm)
, 2013 stats., or s. 560.785
15(1) (bm), 2009 stats., by the number of full-time jobs retained, as provided
in the
16rules under
s. 235.385 or s. 238.385
, 2013 stats., or s. 560.785, 2009 stats.,
excluding
17jobs for which a credit has been claimed under sub. (1dj), in an enterprise
18development zone under
s. 235.397 or s. 238.397
, 2013 stats., or s. 560.797, 2009
19stats., and for which significant capital investment was made and by then
20subtracting the subsidies paid under s. 49.147 (3) (a) for those jobs.
SB21,2279
21Section
2279. 71.28 (1dx) (b) 5. of the statutes is amended to read:
SB21,934,322
71.28
(1dx) (b) 5. The amount determined by multiplying the amount
23determined under
s. 235.385 (1) (c) or s. 238.385 (1) (c)
, 2013 stats., or s. 560.785 (1)
24(c), 2009 stats., by the number of full-time jobs retained, as provided
in the rules 25under
s. 235.385 or s. 238.385
, 2013 stats., or s. 560.785, 2009 stats.,
excluding jobs
1for which a credit has been claimed under sub. (1dj), in a development zone and not
2filled by a member of a targeted group and by then subtracting the subsidies paid
3under s. 49.147 (3) (a) for those jobs.
SB21,2280
4Section
2280. 71.28 (1dx) (be) of the statutes is amended to read:
SB21,934,105
71.28
(1dx) (be)
Offset. A claimant in a development zone under
s. 235.395 (1)
6(e) or s. 238.395 (1) (e)
, 2013 stats., or s. 560.795 (1) (e), 2009 stats., may offset any
7credits claimed under this subsection, including any credits carried over, against the
8amount of the tax otherwise due under this subchapter attributable to all of the
9claimant's income and against the tax attributable to income from directly related
10business operations of the claimant.
SB21,2281
11Section
2281. 71.28 (1dx) (bg) of the statutes is amended to read:
SB21,934,2312
71.28
(1dx) (bg)
Other entities. For claimants in a development zone under
s.
13235.395 (1) (e) or s. 238.395 (1) (e)
, 2013 stats., or s. 560.795 (1) (e), 2009 stats.,
14partnerships, limited liability companies, and tax-option corporations may not
15claim the credit under this subsection, but the eligibility for, and amount of, that
16credit shall be determined on the basis of their economic activity, not that of their
17shareholders, partners, or members. The corporation, partnership, or company shall
18compute the amount of the credit that may be claimed by each of its shareholders,
19partners, or members and shall provide that information to each of its shareholders,
20partners, or members. Partners, members of limited liability companies, and
21shareholders of tax-option corporations may claim the credit based on the
22partnership's, company's, or corporation's activities in proportion to their ownership
23interest and may offset it against the tax attributable to their income.
SB21,2282
24Section
2282. 71.28 (1dx) (c) of the statutes is amended to read:
