AB896,3,1919 71.10 (4) (ed) Small business personal property tax credit under s. 71.07 (3k).
AB896,4 20Section 4. 71.21 (4) (a) of the statutes, as affected by 2017 Wisconsin Act 58,
21is amended to read:
AB896,3,2522 71.21 (4) (a) The amount of the credits computed by a partnership under s.
2371.07 (2dm), (2dx), (2dy), (3g), (3h), (3k), (3n), (3p), (3q), (3r), (3rm), (3rn), (3s), (3t),
24(3w), (3wm), (3y), (4k), (4n), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), and
25(8r) and passed through to partners shall be added to the partnership's income.
AB896,5
1Section 5. 71.26 (2) (a) 4. of the statutes, as affected by 2017 Wisconsin Acts
258
and 59, is amended to read:
AB896,4,83 71.26 (2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dm),
4(1dx), (1dy), (3g), (3h), (3k), (3n), (3p), (3q), (3r), (3rm), (3rn), (3t), (3w), (3wm), (3y),
5(5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), (8r), and (9s) and not passed
6through by a partnership, limited liability company, or tax-option corporation that
7has added that amount to the partnership's, limited liability company's, or
8tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).
AB896,6 9Section 6. 71.28 (3k) of the statutes is created to read:
AB896,4,1110 71.28 (3k) Small business personal property tax credit. (a) Definitions. In
11this subsection:
AB896,4,1212 1. “Claimant” means a small business that files a claim under this subsection.
AB896,4,1613 2. “Small business” means a person engaging in any activity, enterprise, or
14business in this state employing 50 or fewer individuals on a permanent basis with
15gross receipts of no greater than $1,000,000 in the taxable year for which a credit is
16claimed under this subsection.
AB896,4,2117 (b) Filing claims. Subject to the limitations provided in this subsection, a
18claimant may claim as a credit against the tax imposed under s. 71.23, up to the
19amount of those taxes, an amount equal to the amount of personal property taxes
20assessed to the claimant under ss. 70.01 and 70.18 that the claimant paid in the
21taxable year.
AB896,4,2522 (c) Limitations. 1. A claimant shall submit with the claimant's tax return a
23copy of the personal property tax bill along with evidence or certification by the
24claimant that those personal property taxes were paid in the taxable year for which
25a credit is claimed under this subsection.
AB896,5,3
12. No person may claim a credit under this subsection if the expenditures for
2which the credit is claimed are also the expenditures for which another credit is
3claimed under this subchapter.
AB896,5,114 3. Partnerships, limited liability companies, and tax-option corporations may
5not claim the credit under this subsection, but the eligibility for, and the amount of,
6the credit are based on their payment of amounts described under par. (b). A
7partnership, limited liability company, or tax-option corporation shall compute the
8amount of the credit that each of its partners, members, or shareholders may claim
9and shall provide that information to each of them. Partners, members of limited
10liability companies, and shareholders of tax-option corporations may claim the
11credit in proportion to their ownership interests.
AB896,5,1312 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under
13sub. (4), applies to the credit under this subsection.
AB896,7 14Section 7. 71.30 (3) (ed) of the statutes is created to read:
AB896,5,1515 71.30 (3) (ed) Small business personal property tax credit under s. 71.28 (3k).
AB896,8 16Section 8. 71.34 (1k) (g) of the statutes, as affected by 2017 Wisconsin Act 58,
17is amended to read:
AB896,5,2118 71.34 (1k) (g) An addition shall be made for credits computed by a tax-option
19corporation under s. 71.28 (1dm), (1dx), (1dy), (3), (3g), (3h), (3k), (3n), (3p), (3q), (3r),
20(3rm), (3rn), (3t), (3w), (3wm), (3y), (4), (5), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r),
21(5rm), (6n), and (8r) and passed through to shareholders.
AB896,9 22Section 9. 71.45 (2) (a) 10. of the statutes is amended to read:
AB896,6,423 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit
24computed under s. 71.47 (1dm) to (1dy), (3g), (3h), (3k), (3n), (3p), (3q), (3r), (3rm),
25(3rn), (3w), (3y), (5e), (5f), (5g), (5h), (5i), (5j), (5k), (5r), (5rm), (6n), (8r), and (9s) and

1not passed through by a partnership, limited liability company, or tax-option
2corporation that has added that amount to the partnership's, limited liability
3company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g) and
4the amount of credit computed under s. 71.47 (1), (3), (3t), (4), (4m), and (5).
AB896,10 5Section 10. 71.47 (3k) of the statutes is created to read:
AB896,6,76 71.47 (3k) Small business personal property tax credit. (a) Definitions. In
7this subsection:
AB896,6,88 1. “Claimant” means a small business that files a claim under this subsection.
AB896,6,129 2. “Small business” means a person engaging in any activity, enterprise, or
10business in this state employing 50 or fewer individuals on a permanent basis with
11gross receipts of no greater than $1,000,000 in the taxable year for which a credit is
12claimed under this subsection.
AB896,6,1713 (b) Filing claims. Subject to the limitations provided in this subsection, a
14claimant may claim as a credit against the tax imposed under s. 71.43, up to the
15amount of those taxes, an amount equal to the amount of personal property taxes
16assessed to the claimant under ss. 70.01 and 70.18 that the claimant paid in the
17taxable year.
AB896,6,2118 (c) Limitations. 1. A claimant shall submit with the claimant's tax return a
19copy of the personal property tax bill along with evidence or certification by the
20claimant that those personal property taxes were paid in the taxable year for which
21a credit is claimed under this subsection.
AB896,6,2422 2. No person may claim a credit under this subsection if the expenditures for
23which the credit is claimed are also the expenditures for which another credit is
24claimed under this subchapter.
AB896,7,8
13. Partnerships, limited liability companies, and tax-option corporations may
2not claim the credit under this subsection, but the eligibility for, and the amount of,
3the credit are based on their payment of amounts described under par. (b). A
4partnership, limited liability company, or tax-option corporation shall compute the
5amount of the credit that each of its partners, members, or shareholders may claim
6and shall provide that information to each of them. Partners, members of limited
7liability companies, and shareholders of tax-option corporations may claim the
8credit in proportion to their ownership interests.
AB896,7,109 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
10s. 71.28 (4), applies to the credit under this subsection.
AB896,11 11Section 11. 71.49 (1) (ed) of the statutes is created to read:
AB896,7,1212 71.49 (1) (ed) Small business personal property tax credit under s. 71.47 (3k).
AB896,12 13Section 12. Initial applicability.
AB896,7,1714 (1) This act first applies to taxable years beginning on January 1 of the year
15in which this subsection takes effect, except that if this subsection takes effect after
16July 31, this act first applies to taxable years beginning on January 1 of the year
17following the year in which this subsection takes effect.
AB896,7,1818 (End)
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