SB468: Bill Text

SB468,80,10 71.47 (1dx) (bg) Other entities. For claimants in a development zone under s. 555.395 (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.

SB468,241 Section 241. 71.47 (1dx) (c) of the statutes is amended to read:

SB468,80,24 71.47 (1dx) (c) Credit precluded. If the certification of a person for tax benefits under s. 555.365 (3), 555.397 (4), 555.398 (3), or 555.3995 (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. 555.395 (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.

SB468,242 Section 242. 71.47 (1dx) (d) of the statutes is amended to read:

SB468,81,10 71.47 (1dx) (d) Carry-over precluded. If a person who is entitled under s. 555.395 (3) or s. 238.395 (3), 2013 stats., or s. 560.795 (3), 2009 stats., to claim tax benefits or certified under s. 555.365 (3), 555.397 (4), 555.398 (3), or 555.3995 (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.

SB468,243 Section 243. 71.47 (1dy) (a) of the statutes is amended to read:

SB468,81,15 71.47 (1dy) (a) Definition. In this subsection, "claimant" means a person who files a claim under this subsection and is certified under s. 555.301 (2) or s. 238.301 (2), 2013 stats., or s. 560.701 (2), 2009 stats., and authorized to claim tax benefits under s. 555.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.

SB468,244 Section 244. 71.47 (1dy) (b) of the statutes is amended to read:

SB468,81,22 71.47 (1dy) (b) Filing claims. Subject to the limitations under this subsection and ss. 555.301 to 555.306 or ss. 238.301 to 238.306 , 2013 stats., or s. 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. 71.43, up to the amount of the tax, the amount authorized for the claimant under s. 555.303 or s. 238.303, 2013 stats., or s. 560.703, 2009 stats.

SB468,245 Section 245. 71.47 (1dy) (c) 1. of the statutes is amended to read:

SB468,82,3 71.47 (1dy) (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. 555.301 (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. 555.303 (3) or s. 238.303 (3), 2013 stats., or s. 560.703 (3), 2009 stats.

SB468,246 Section 246. 71.47 (1dy) (c) 2. of the statutes is amended to read:

SB468,82,13 71.47 (1dy) (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. 555.303 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.

SB468,247 Section 247. 71.47 (1dy) (d) 2. of the statutes is amended to read:

SB468,82,24 71.47 (1dy) (d) 2. If a claimant's certification is revoked under s. 555.305 or s. 238.305, 2013 stats., or s. 560.705, 2009 stats., or if a claimant becomes ineligible for tax benefits under s. 555.302 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. 71.43 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.

SB468,248 Section 248. 71.47 (3g) (a) (intro.) of the statutes is amended to read:

SB468,83,6 71.47 (3g) (a) (intro.) Subject to the limitations under this subsection and ss. 73.03 (35m) and 555.23 and s. 238.23, 2013 stats., and s. 560.96, 2009 stats., a business that is certified under s. 555.23 (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. 71.43 an amount equal to the sum of the following, as established under s. 555.23 (3) (c) or s. 238.23 (3) (c), 2013 stats., or s. 560.96 (3) (c), 2009 stats.:

SB468,249 Section 249. 71.47 (3g) (b) of the statutes is amended to read:

SB468,83,10 71.47 (3g) (b) The department of revenue shall notify the department of commerce or the Wisconsin Economic Development Corporation department of economic opportunity of all claims under this subsection.

SB468,250 Section 250. 71.47 (3g) (e) 2. of the statutes is amended to read:

SB468,83,15 71.47 (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. 555.23 (3) or s. 238.23 (3), 2013 stats., or s. 560.96 (3), 2009 stats.

SB468,251 Section 251. 71.47 (3g) (f) 1. of the statutes is amended to read:

SB468,83,20 71.47 (3g) (f) 1. A copy of the verification that the claimant's business is certified under 555.23 (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. 555.23 (3) (d) or s. 238.23 (3) (d), 2013 stats., or s. 560.96 (3) (d), 2009 stats.

SB468,252 Section 252. 71.47 (3g) (f) 2. of the statutes is amended to read:

SB468,83,25 71.47 (3g) (f) 2. A statement from the department of commerce or the Wisconsin Economic Development Corporation or the department of economic opportunity verifying the purchase price of the investment described under par. (a) 2. and verifying that the investment fulfills the requirement under par. (e) 2.

SB468,253 Section 253. 71.47 (3q) (a) 1. of the statutes is amended to read:

SB468,84,3 71.47 (3q) (a) 1. "Claimant" means a person certified to receive tax benefits under s. 555.16 (2) or s. 238.16 (2), 2013 stats., or s. 560.2055 (2), 2009 stats.

SB468,254 Section 254. 71.47 (3q) (a) 2. of the statutes is amended to read:

SB468,84,10 71.47 (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. 555.16 (1) (b) or s. 238.16 (1) (b), 2013 stats., who satisfies the wage requirements under s. 555.16 (3) (a) or (b) or s. 238.16 (3) (a) or (b), 2013 stats.

SB468,255 Section 255. 71.47 (3q) (b) (intro.) of the statutes is amended to read:

SB468,84,15 71.47 (3q) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and s. 555.16 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 s. 71.43 any of the following:

SB468,256 Section 256. 71.47 (3q) (b) 1. of the statutes is amended to read:

SB468,84,19 71.47 (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 under s. 555.16 or s. 238.16, 2013 stats., or s. 560.2055, 2009 stats.

SB468,257 Section 257. 71.47 (3q) (b) 2. of the statutes is amended to read:

SB468,84,24 71.47 (3q) (b) 2. The amount of the costs incurred by the claimant in the taxable year, as determined under s. 555.16 or s. 238.16, 2013 stats., or s. 560.2055, 2009 stats., to undertake the training activities described under s. 555.16 (3) (c) or s. 238.16 (3) (c), 2013 stats., or s. 560.2055 (3) (c), 2009 stats.

SB468,258 Section 258. 71.47 (3q) (c) 2. of the statutes is amended to read:

SB468,85,4 71.47 (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. 555.16 (2) or s. 238.16 (2) , 2013 stats., or s. 560.2055 (2), 2009 stats.

SB468,259 Section 259. 71.47 (3q) (c) 3. of the statutes is amended to read:

SB468,85,10 71.47 (3q) (c) 3. The maximum amount of credits that may be awarded under this subsection and ss. 71.07 (3q) and 71.28 (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. 555.15 (3) (d) or s. 238.15 (3) (d), 2013 stats., or s. 560.205 (3) (d), 2009 stats.

SB468,260 Section 260. 71.47 (3w) (a) 2. of the statutes is amended to read:

SB468,85,14 71.47 (3w) (a) 2. "Claimant" means a person who is certified to claim tax benefits under s. 555.399 (5) or s. 238.399 (5), 2013 stats., or s. 560.799 (5), 2009 stats., and who files a claim under this subsection.

SB468,261 Section 261. 71.47 (3w) (a) 3. of the statutes is amended to read:

SB468,85,18 71.47 (3w) (a) 3. "Full-time employee" means a full-time employee, as defined in s. 555.399 (1) (am) or s. 238.399 (1) (am), 2013 stats., or s. 560.799 (1) (am), 2009 stats.

SB468,262 Section 262. 71.47 (3w) (a) 4. of the statutes is amended to read:

SB468,85,21 71.47 (3w) (a) 4. "Enterprise zone" means a zone designated under s. 555.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats.

SB468,263 Section 263. 71.47 (3w) (a) 5d. of the statutes is amended to read:

SB468,85,25 71.47 (3w) (a) 5d. "Tier I county or municipality" means a tier I county or municipality, as determined under s. 555.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats.

SB468,264 Section 264. 71.47 (3w) (a) 5e. of the statutes is amended to read:

SB468,86,4 71.47 (3w) (a) 5e. "Tier II county or municipality" means a tier II county or municipality, as determined under s. 555.399 or s. 238.399, 2013 stats., or s. 560.799, 2009 stats.

SB468,265 Section 265. 71.47 (3w) (b) (intro.) of the statutes is amended to read:

SB468,86,9 71.47 (3w) (b) Filing claims; payroll. (intro.) Subject to the limitations provided in this subsection and s. 555.399 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. 71.43 an amount calculated as follows:

SB468,266 Section 266. 71.47 (3w) (b) 5. of the statutes is amended to read:

SB468,86,13 71.47 (3w) (b) 5. Multiply the amount determined under subd. 4. by the percentage determined under s. 555.399 or s. 238.399 , 2013 stats., or s. 560.799, 2009 stats., not to exceed 7 percent.

SB468,267 Section 267. 71.47 (3w) (bm) 1. of the statutes is amended to read:

SB468,86,25 71.47 (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. 555.399 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. 71.43 an amount equal to a percentage, as determined under s. 555.399 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.

SB468,268 Section 268. 71.47 (3w) (bm) 2. of the statutes is amended to read:

SB468,87,16 71.47 (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. 555.399 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. 71.43 an amount equal to the percentage, as determined under s. 555.399 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.

SB468,269 Section 269. 71.47 (3w) (bm) 3. of the statutes is amended to read:

SB468,87,24 71.47 (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. 555.399 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. 71.43 up to 10 percent of the claimant's significant capital expenditures, as determined under s. 555.399 (5m) or s. 238.399 (5m) , 2013 stats., or s. 560.799 (5m), 2009 stats.

SB468,270 Section 270. 71.47 (3w) (bm) 4. of the statutes is amended to read:

SB468,88,10 71.47 (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. 555.399 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. 71.43, 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. 555.399 (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.

SB468,271 Section 271. 71.47 (3w) (c) 3. of the statutes is amended to read:

SB468,88,15 71.47 (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. 555.399 (5) or (5m) or s. 238.399 (5) or (5m), 2013 stats., or s. 560.799 (5) or (5m), 2009 stats.

SB468,272 Section 272. 71.47 (3w) (d) of the statutes is amended to read:

SB468,88,21 71.47 (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 department of economic opportunity.

SB468,273 Section 273. 71.47 (3y) (a) 1. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,88,25 71.47 (3y) (a) 1. "Claimant" means a person certified to receive tax benefits under s. 238.308 555.308.

SB468,274 Section 274. 71.47 (3y) (a) 2. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,89,4 71.47 (3y) (a) 2. "Eligible employee" has the meaning given in s. 238.308 555.308 (1) (a).

SB468,275 Section 275. 71.47 (3y) (b) (intro.) of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,89,10 71.47 (3y) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection and s. 238.308 555.308, for taxable years beginning after December 31, 2015, a claimant may claim as a credit against the tax imposed under s. 71.43 all of the following:

SB468,276 Section 276. 71.47 (3y) (b) 1. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,89,16 71.47 (3y) (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 Wisconsin Economic Development Corporation department of economic opportunity under s. 238.308 555.308.

SB468,277 Section 277. 71.47 (3y) (b) 2. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,89,23 71.47 (3y) (b) 2. In addition to any amount claimed for an eligible employee under subd. 1., the amount of wages that the claimant paid to the eligible employee in the taxable year, not to exceed 5 percent of such wages, if the eligible employee is employed in an economically distressed area, as determined by the Wisconsin Economic Development Corporation department of economic opportunity.

SB468,278 Section 278. 71.47 (3y) (b) 3. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,90,4 71.47 (3y) (b) 3. The amount of training costs that the claimant incurred under s. 238.308 555.308 (4) (a) 3., not to exceed 50 percent of such costs, as determined by the Wisconsin Economic Development Corporation department of economic opportunity.

SB468,279 Section 279. 71.47 (3y) (b) 4. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,90,11 71.47 (3y) (b) 4. The amount of the personal property investment, not to exceed 3 percent of such investment, and the amount of the real property investment, not to exceed 5 percent of such investment, in a capital investment project that satisfies s. 238.308 555.308 (4) (a) 4., as determined by the Wisconsin Economic Development Corporation department of economic opportunity.

SB468,280 Section 280. 71.47 (3y) (b) 5. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,90,21 71.47 (3y) (b) 5. An amount, as determined by the Wisconsin Economic Development Corporation department of economic opportunity under s. 238.308 555.308 (4) (a) 5., equal to a percentage of the amount of wages that the claimant paid to an eligible employee in the taxable year if the position in which the eligible employee was employed was created or retained in connection with the claimant's location or retention of the claimant's corporate headquarters in Wisconsin and the job duties associated with the eligible employee's position involve the performance of corporate headquarters functions.

SB468,281 Section 281. 71.47 (3y) (c) 2. of the statutes, as created by 2015 Wisconsin Act 55, is amended to read:

SB468,91,3 71.47 (3y) (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. 238.308 555.308.

SB468,282 Section 282. 71.47 (4) (am) of the statutes, as affected by 2015 Wisconsin Act 55, is amended to read:

SB468,92,10 71.47 (4) (am) Development zone additional research credit. In addition to the credit under par. (ad), any corporation may credit against taxes otherwise due under this chapter an amount equal to 5 percent of the amount obtained by subtracting from the corporation's qualified research expenses, as defined in section 41 of the Internal Revenue Code, except that "qualified research expenses" include only expenses incurred by the claimant in a development zone under subch. III of ch. 555 or subch. II of ch. 238, 2013 stats., or subch. VI of ch. 560, 2009 stats., except that a taxpayer may elect the alternative computation under section 41 (c) (4) of the Internal Revenue Code and that election applies until the department permits its revocation and except that "qualified research expenses" does not include research expenses incurred before the claimant is certified for tax benefits under s. 555.365 (3) or s. 238.365 (3), 2013 stats., or s. 560.765 (3), 2009 stats., or the corporation's base amount, as defined in section 41 (c) of the Internal Revenue Code, in a development zone, except that gross receipts used in calculating the base amount means gross receipts from sales attributable to Wisconsin under s. 71.25 (9) (b) 1. and 2., (df) 1. and 2., (dh) 1., 2., and 3., (dj), and (dk) and research expenses used in calculating the base amount include research expenses incurred before the claimant is certified for tax benefits under s. 555.365 (3) or s. 238.365 (3) , 2013 stats., or s. 560.765 (3), 2009 stats., in a development zone, if the claimant submits with the claimant's return a copy of the claimant's certification for tax benefits under s. 555.365 (3) or s. 238.365 (3), 2013 stats., or s. 560.765 (3), 2009 stats., and a statement from the department of commerce or the Wisconsin Economic Development Corporation or the department of economic opportunity verifying the claimant's qualified research expenses for research conducted exclusively in a development zone. The rules under s. 73.03 (35) apply to the credit under this paragraph. Section 41 (h) of the Internal Revenue Code does not apply to the credit under this paragraph. No credit may be claimed under this paragraph for taxable years that begin on January 1, 1998, or thereafter. Credits under this paragraph for taxable years that begin before January 1, 1998, may be carried forward to taxable years that begin on January 1, 1998, or thereafter.

SB468,283 Section 283. 71.47 (5b) (a) 2. of the statutes is amended to read:

SB468,92,13 71.47 (5b) (a) 2. "Fund manager" means an investment fund manager certified under s. 555.15 (2) or s. 238.15 (2), 2013 stats., or s. 560.205 (2), 2009 stats.

SB468,284 Section 284. 71.47 (5b) (b) 1. of the statutes is amended to read:

SB468,92,21 71.47 (5b) (b) 1. For taxable years beginning after December 31, 2004, subject to the limitations provided under this subsection and s. 555.15 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 s. 71.43, 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. 555.15 (1) or s. 238.15 (1), 2013 stats., or s. 560.205 (1), 2009 stats.