71.07(5g)(c)3.
3. The amount of any credits that a claimant is awarded under this subsection for taxable years beginning after December 31, 2005, and before January 1, 2008, may first be claimed against the tax imposed under this subchapter for taxable years beginning after December 31, 2007, and in the manner determined by the department of revenue.
71.07(5h)
(5h) Film production company investment credit. 71.07(5h)(a)1.
1. "Claimant" means a person who files a claim under this subsection and who does business in this state as a film production company.
71.07(5h)(a)2.
2. "Film production company" means an entity that creates films, videos, electronic games, broadcast advertisement, or television productions, not including the productions described under
s. 71.07 (5f) (a) 1. a. to
h.
71.07(5h)(a)3.
3. "Physical work" does not include preliminary activities such as planning, designing, securing financing, researching, developing specifications, or stabilizing property to prevent deterioration.
71.07(5h)(a)4.
4. "Previously owned property" means real property that the claimant or a related person owned during the 2 years prior to doing business in this state as a film production company and for which the claimant may not deduct a loss from the sale of the property to, or an exchange of the property with, the related person under section
267 of the Internal Revenue Code.
71.07(5h)(b)
(b)
Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2007, a claimant may claim as a credit against the tax imposed under
s. 71.02, up to the amount of the taxes, for the first 3 taxable years that the claimant is doing business in this state as a film production company, an amount that is equal to 15 percent of the following that the claimant paid in the taxable year to establish a film production company in this state:
71.07(5h)(b)1.
1. The purchase price of depreciable, tangible personal property.
71.07(5h)(b)2.
2. The amount expended to acquire, construct, rehabilitate, remodel, or repair real property.
71.07(5h)(c)1.1. A claimant may claim the credit under
par. (b) 1., if the tangible personal property is purchased after December 31, 2007, and the personal property is used for at least 50 percent of its use in the claimant's business as a film production company.
71.07(5h)(c)2.
2. A claimant may claim the credit under
par. (b) 2. for an amount expended to construct, rehabilitate, remodel, or repair real property, if the claimant began the physical work of construction, rehabilitation, remodeling, or repair, or any demolition or destruction in preparation for the physical work, after December 31, 2007, or if the completed project is placed in service after December 31, 2007.
71.07(5h)(c)3.
3. A claimant may claim the credit under
par. (b) 2. for an amount expended to acquire real property, if the property is not previously owned property and if the claimant acquires the property after December 31, 2007, or if the completed project is placed in service after December 31, 2007.
71.07(5h)(c)4.
4. No claim may be allowed under this subsection unless the department of commerce certifies, in writing, that the credits claimed under this subsection are for expenses related to establishing a film production company in this state and the claimant submits a copy of the certification with the claimant's return.
71.07(5h)(c)5.
5. 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 payment of amounts under
par. (b). 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.
71.07(5m)(a)1.
1. "Claimant" means an individual who is eligible to claim the credit under this subsection.
71.07(5m)(a)3.
3. "Household" means a claimant and an individual related to the claimant as husband or wife.
71.07(5m)(a)4.
4. "Net tax liability" means a claimant's income tax liability after he or she completes the computations listed in
s. 71.10 (4) (a) to
(dr).
71.07(5m)(b)
(b)
Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under
s. 71.02, up to the amount of those taxes, one of the following amounts:
71.07(5m)(b)1.
1. If the claimant is single and his or her adjusted gross income is less than $9,000 in the year to which the claim relates, an amount equal to his or her net tax liability.
71.07(5m)(b)2.
2. If the claimant is single and his or her adjusted gross income is at least $9,000 but less than $10,000 in the year to which the claim relates, an amount that is calculated as follows:
71.07(5m)(b)2.a.
a. Calculate the value of a fraction, the denominator of which is $1,000 and the numerator of which is the difference between the claimant's adjusted gross income and $9,000.
71.07(5m)(b)2.c.
c. Multiply the amount of the claimant's net income tax liability by the amount that is calculated under
subd. 2. b.
71.07(5m)(b)3.
3. If the claimant is married and filing jointly and the sum of the claimant's adjusted gross income and his or her spouse's adjusted gross income is less than $18,000 in the year to which the claim relates, an amount equal to the married couple's net tax liability.
71.07(5m)(b)4.
4. If the claimant is married and filing jointly and the sum of the claimant's adjusted gross income and his or her spouse's adjusted gross income is at least $18,000 but less than $19,000 in the year to which the claim relates, an amount that is calculated as follows:
71.07(5m)(b)4.a.
a. Calculate the value of a fraction, the denominator of which is $1,000 and the numerator of which is the difference between the married couple's adjusted gross income and $18,000.
71.07(5m)(b)4.c.
c. Multiply the amount of the married couple's net income tax liability by the amount that is calculated under
subd. 4. b.
71.07(5m)(b)5.
5. If the claimant is married and filing separately and his or her adjusted gross income is less than $9,000 in the year to which the claim relates, an amount equal to his or her net tax liability.
71.07(5m)(b)6.
6. If the claimant is married and filing separately and his or her adjusted gross income is at least $9,000 but less than $10,000 in the year to which the claim relates, an amount that is calculated as follows:
71.07(5m)(b)6.a.
a. Calculate the value of a fraction, the denominator of which is $1,000 and the numerator of which is the difference between the claimant's adjusted gross income and $9,000.
71.07(5m)(b)6.c.
c. Multiply the amount of the claimant's net income tax liability by the amount that is calculated under
subd. 6. b.
71.07(5m)(c)1.1. No credit may be allowed under this subsection unless it is claimed within the time period under
s. 71.75 (2).
71.07(5m)(c)2.
2. Part-year residents and nonresidents of this state are not eligible for the credit under this subsection.
71.07(5m)(c)3.
3. Except as provided in
subd. 4., only one credit per household is allowed each year.
71.07(5m)(c)4.
4. If a married couple files separately, each spouse may claim the credit calculated under
par. (b) 5. or
6., except a married person living apart from the other spouse and treated as single under section
7703 (b) of the Internal Revenue Code may claim the credit under
par. (b) 1. or
2.
71.07(5m)(c)5.
5. The credit under this subsection may not be claimed by a person who may be claimed as a dependent on the individual income tax return of another taxpayer.
71.07(5m)(d)
(d)
Administration. The department of revenue may enforce the credit under this subsection and may take any action, conduct any proceeding and proceed as it is authorized in respect to taxes under this chapter. The income tax provisions in this chapter relating to assessments, refunds, appeals, collection, interest and penalties apply to the credit under this subsection.
71.07(6)(a)(a) For taxable years beginning before January 1, 1998, married persons filing a joint return, except those who reduce their gross income under section
911 or
931 of the internal revenue code, may claim as a credit against, but not to exceed the amount of, Wisconsin net income taxes otherwise due an amount equal to 2% of the earned income of the spouse with the lower earned income, but not more than $300. In this paragraph, "earned income" means qualified earned income, as defined in section
221 (b) of the internal revenue code as amended to December 31, 1985, plus employee business expenses under section 62 (2) (B) to (D) of that code, allocable to Wisconsin under
s. 71.04, plus amounts received by the individual for services performed in the employ of the individual's spouse minus the amount of disability income excluded under
s. 71.05 (6) (b) 4. and minus any other amount not subject to tax under this chapter. Earned income is computed notwithstanding the fact that each spouse owns an undivided one-half interest in the whole of the marital property. A marital property agreement or unilateral statement under
ch. 766 transferring income between spouses has no effect in computing earned income under this paragraph.
71.07(6)(am)1.1. In this paragraph, "earned income" means qualified earned income, as defined in section
221 (b) of the internal revenue code as amended to December 31, 1985, plus employee business expenses under section 62 (2) (B) to (D) of that code, allocable to Wisconsin under
s. 71.04, plus amounts received by the individual for services performed in the employ of the individual's spouse minus the amount of disability income excluded under
s. 71.05 (6) (b) 4. and minus any other amount not subject to tax under this chapter. Earned income is computed notwithstanding the fact that each spouse owns an undivided one-half interest in the whole of the marital property. A marital property agreement or unilateral statement under
ch. 766 transferring income between spouses has no effect in computing earned income under this paragraph.
71.07(6)(am)2.
2. Married persons filing a joint return, except those who reduce their gross income under section
911 or
931 of the Internal Revenue Code, may claim as a credit against the tax imposed under
s. 71.02, up to the amount of those taxes, an amount equal to one of the following:
71.07(6)(am)2.a.
a. For taxable years beginning after December 31, 1997, and before January 1, 1999, 2.17% of the earned income of the spouse with the lower earned income, but not more than $304.
71.07(6)(am)2.b.
b. For taxable years beginning after December 31, 1998, and before January 1, 2000, 2.5% of the earned income of the spouse with the lower earned income, but not more than $350.
71.07(6)(am)2.c.
c. For taxable years beginning after December 31, 1999, and before January 1, 2001, 2.75% of the earned income of the spouse with the lower earned income, but not more than $440.
71.07(6)(am)2.d.
d. For taxable years beginning after December 31, 2000, 3% of the earned income of the spouse with the lower earned income, but not more than $480.
71.07(6)(b)
(b) A claimant who has filed a timely claim under this subsection may file an amended claim with the department of revenue within 4 years of the last day prescribed by law for filing the original claim.
71.07(6e)
(6e) Veterans and surviving spouses property tax credit. 71.07(6e)(a)1.
1. "Claimant" means an eligible unremarried surviving spouse, an eligible veteran, or an eligible spouse who files a claim under this subsection.
71.07(6e)(a)1m.
1m. "Eligible spouse" means the spouse of an eligible veteran who files a separate return.
71.07(6e)(a)2.
2. "Eligible unremarried surviving spouse" means an unremarried surviving spouse of one of the following, as verified by the department of veterans affairs:
71.07(6e)(a)2.a.
a. An individual who had served on active duty in the U.S. armed forces or in forces incorporated as part of the U.S. armed forces, who was a resident of this state at the time of entry into that active service, and who, while a resident of this state, died while on active duty.
71.07(6e)(a)2.b.
b. An individual who had served on active duty under honorable conditions in the U.S. armed forces or in forces incorporated as part of the U.S. armed forces; who was a resident of this state at the time of entry into that active service; who was at least 65 years of age at the time of his or her death or would have been 65 years of age at the close of the year in which the death occurred; who was a resident of this state at the time of his or her death; and who had a service-connected disability rating of 100 percent under
38 USC 1114 or
1134.
71.07(6e)(a)2.c.
c. An individual who had served in the national guard or a reserve component of the U.S. armed forces, who was a resident of this state at the time of entry into that service, and who, while a resident of this state, died in the line of duty while on active or inactive duty for training purposes.
71.07(6e)(a)3.
3. "Eligible veteran" means an individual who is at least 65 years of age and who is verified by the department of veterans affairs as meeting all of the following conditions:
71.07(6e)(a)3.a.
a. Served on active duty under honorable conditions in the U.S. armed forces or in forces incorporated in the U.S. armed forces.
71.07(6e)(a)3.b.
b. Was a resident of this state at the time of entry into that active service.
71.07(6e)(a)3.c.
c. Is currently a resident of this state for purposes of receiving veterans benefits under
ch. 45.
71.07(6e)(a)5.
5. "Property taxes" means real and personal property taxes, exclusive of special assessments, delinquent interest, and charges for service, paid by a claimant, and the claimant's spouse if filing a joint return, on the eligible veteran's or unremarried surviving spouse's principal dwelling in this state during the taxable year for which credit under this subsection is claimed, less any property taxes paid which are properly includable as a trade or business expense under section
162 of the Internal Revenue Code. If the principal dwelling on which the taxes were paid is owned by 2 or more persons or entities as joint tenants or tenants in common or is owned by spouses as marital property, "property taxes" is that part of property taxes paid that reflects the ownership percentage of the claimant, except that this limitation does not apply to spouses who file a joint return. If the principal dwelling is sold during the taxable year, the "property taxes" for the seller and buyer shall be the amount of the tax prorated to each in the closing agreement pertaining to the sale or, if not so provided for in the closing agreement, the tax shall be prorated between the seller and buyer in proportion to months of their respective ownership. "Property taxes" includes monthly parking permit fees in respect to a principal dwelling collected under
s. 66.0435 (3) (c).
71.07(6e)(b)
(b)
Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under
s. 71.02 the amount of the claimant's property taxes. If the allowable amount of the claim exceeds the income taxes otherwise due on the claimant's income, the amount of the claim not used as an offset against those taxes shall be certified by the department of revenue to the department of administration for payment to the claimant by check, share draft, or other draft from the appropriation under
s. 20.835 (2) (em).
71.07(6e)(c)1.1. No credit may be allowed under this subsection unless it is claimed within the time period under
s. 71.75 (2).
71.07(6e)(c)2.
2. No credit may be allowed under this subsection if the individual, or the individual's spouse, files a claim under
sub. (3m) or
(9) or
subch. VIII or
IX that relates to the same taxable year for which a claim is made under this subsection.
71.07(6e)(c)3.
3. If an eligible veteran and an eligible spouse file separate returns, each spouse may claim a credit under this subsection based on their respective ownership interest in the eligible veteran's principal dwelling.
71.07(6e)(d)
(d)
Administration. Subsection (9e) (d), to the extent that it applies to the credit under that subsection, applies to the credit under this subsection.
71.07(6m)
(6m) Armed forces member tax credit. 71.07(6m)(a)2.
2. "Military income" means an amount of basic, special or incentive pay income, as those terms are used in
37 USC chapters 3 and
5, received by a claimant from the federal government.
71.07(6m)(b)
(b)
Filing claims. Subject to the limitations and conditions provided in this subsection, a claimant may claim as a credit against the tax imposed under
s. 71.02, up to the amount of those taxes, one of the following amounts:
71.07(6m)(b)1.
1. For taxable years beginning before January 1, 2006, an amount up to $200 of military income for services performed by the claimant while he or she is stationed outside of the United States.
71.07(6m)(b)2.
2. For taxable years beginning after December 31, 2005, an amount up to $300 of military income for services performed by the claimant while he or she is stationed outside of the United States.
71.07(6m)(c)1.1. No credit may be allowed under this subsection unless it is claimed within the time period under
s. 71.75 (2).
71.07(6m)(c)2.
2. Part-year residents and nonresidents of this state are not eligible for the credit under this subsection.
71.07(6m)(c)3.
3. If both spouses of a married couple meet the definition of claimant under
par. (a) 1., each spouse may claim the credit under this subsection.
