71.255(7)(b)4.
4. Sending and receiving all correspondence with the department regarding the combined report.
71.255(7)(b)5.
5. Remitting all taxes, including estimated taxes, to the department. For purposes of computing interest on late payments, all payments remitted are deemed to be made on a pro rata basis by all members of the combined group, unless otherwise specified by the designated agent.
71.255(7)(b)6.
6. Participating on behalf of the combined group members in any investigation or hearing requested by the department regarding a combined report, producing all information requested by the department regarding the combined report, and filing any appeal related to the combined report, investigation, or hearing. Any appeal filed by the designated agent shall be considered to be filed by all members of the combined group.
71.255(7)(b)7.
7. Executing waivers, closing agreements, powers of attorney, and other documents as necessary or required regarding the combined report filed under
sub. (2) (a). Any waiver, agreement, power of attorney, or document executed by the designated agent shall be considered as executed by all members of the combined group.
71.255(7)(b)8.
8. Receiving notices regarding the combined report. Any such notice the designated agent receives is considered received by all members of the combined group.
71.255(7)(b)9.
9. Receiving refunds relating to the combined report. Any such refund shall be paid to and in the name of the designated agent and shall discharge any liability of the state to any member of the combined group regarding the refund.
71.255(7)(b)10.
10. Other responsibilities as determined by rule by the department.
71.255(8)
(8) Taxable year of combined group. The combined group's taxable year is determined as follows:
71.255(8)(a)
(a) If 2 or more members of a combined group file a federal consolidated return, the combined group's taxable year is the taxable year of the federal consolidated group. In all other cases, the taxable year is the taxable year of the designated agent under
sub. (7).
71.255(8)(b)
(b) If a taxable year of a member of a combined group differs from the taxable year of the combined group, the designated agent shall elect to determine the portion of that member's income to be included in one of the following ways:
71.255(8)(b)1.
1. A separate income statement prepared from the books and records for the months included in the combined group's taxable year.
71.255(8)(b)2.
2. Including all of the income for the year that ends during the combined group's taxable year.
71.255(8)(c)
(c) For corporations that are subject to an election under
par. (b), the same election shall be made for each member of the combined group subject to the election, the same election shall be made in each succeeding year, and the election is irrevocable except upon written approval by the department.
71.255(9)
(9) Part-year members of a combined group. If a corporation becomes a member of a combined group or ceases to be a member of a combined group after the beginning of the taxable year of the combined group, the corporation's income shall be determined as provided under
subs. (3),
(4), and
(5) for the portion of the year in which the corporation was a member of the combined group and that income shall be included in the combined report. The income for the remaining short period shall be reported on a separate return or separate combined report.
71.255(10)
(10) Transition. The department shall deem timely paid the estimated tax payments attributable to income includable in the combined report for installments that become due during the period beginning on January 1, 2009, and ending on March 6, 2009, provided that such estimated tax payments are paid by the next installment due date that follows in sequence following March 6, 2009. However, if the next installment due date that follows in sequence following March 6, 2009, is less than 45 days after March 6, 2009, such estimated tax payments, in addition to the payment due less than 45 days after March 6, 2009, shall be deemed timely paid if paid by the next subsequent installment due date.
71.255(11)
(11) Conformity with federal consolidated return regulations. The department may promulgate any rules necessary to create uniformity between the treatment of transactions entered into by members of a federal consolidated group under federal regulations, including any income, expense, gain, or loss limitations applicable to such transactions, and treatment of transactions entered into by members of a combined group under this section, including any income, expense, gain, or loss limitations applicable to such transactions.
71.255 History
History: 2009 a. 2,
28,
276.
71.255 Cross-reference
Cross-reference: See also ss.
Tax 2.60 and
2.67, Wis. adm. code.
71.255 Annotation
"Slicing a Shadow": The Debate over Combined Reporting and Its Effect on Wisconsin's Business Climate. Flinchbaugh. 92 MLR 829 (2009).
71.26
71.26
Income computation. 71.26(1)(1)
Exempt and excludable income. There shall be exempt from taxation under this subchapter income as follows:
71.26(1)(a)
(a)
Certain corporations. Income of corporations organized under
ch. 185, except income of a cooperative health care association organized under
s. 185.981, or of a service insurance corporation organized under
ch. 613, that is derived from a health maintenance organization as defined in
s. 609.01 (2) or a limited service health organization as defined in
s. 609.01 (3), or operating under
subch. I of ch. 616 which are bona fide cooperatives operated without pecuniary profit to any shareholder or member, or operated on a cooperative plan pursuant to which they determine and distribute their proceeds in substantial compliance with
s. 185.45, and the income, except the unrelated business taxable income as defined in section
512 of the internal revenue code and except income that is derived from a health maintenance organization as defined in
s. 609.01 (2) or a limited service health organization as defined in
s. 609.01 (3), of all religious, scientific, educational, benevolent or other corporations or associations of individuals not organized or conducted for pecuniary profit. This paragraph does not apply to the income of savings banks, mutual loan corporations or savings and loan associations. This paragraph does not apply to income that is realized from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in this state. This paragraph applies to the income of credit unions except to the income of any credit union that is derived from public deposits for any taxable year in which the credit union is approved as a public depository under
ch. 34 and acts as a depository of state or local funds under
s. 186.113 (20). For purposes of this paragraph, the income of a credit union that is derived from public deposits is the product of the credit union's gross annual income for the taxable year multiplied by a fraction, the numerator of which is the average monthly balance of public deposits in the credit union during the taxable year, and the denominator of which is the average monthly balance of all deposits in the credit union during the taxable year.
71.26(1)(am)
(am)
Veterans service organizations. Income of a veterans service organization that is chartered under federal law.
71.26(1)(b)
(b)
Political units. Income received by the United States, the state and all counties, cities, villages, towns, school districts, technical college districts, joint local water authorities created under
s. 66.0823, transit authorities created under
s. 59.58 (7) or
66.1039, long-term care districts under
s. 46.2895 or other political units of this state.
71.26(1)(be)
(be)
Certain authorities. Income of the University of Wisconsin Hospitals and Clinics Authority, of the Health Insurance Risk-Sharing Plan Authority, of the Wisconsin Quality Home Care Authority, of the Fox River Navigational System Authority, and of the Wisconsin Aerospace Authority.
71.26(1)(bm)
(bm)
Certain local districts. Income of a local exposition district created under
subch. II of ch. 229, a local professional baseball park district created under
subch. III of ch. 229, a local professional football stadium district created under
subch. IV of ch. 229, or a local cultural arts district created under
subch. V of ch. 229.
71.26(1)(c)
(c)
Cooperative associations or corporations. Income of cooperative associations or corporations engaged in marketing farm products for producers, which turn back to such producers the net proceeds of the sales of their products; provided that such corporations or associations have at least 25 stockholders or members delivering such products and that their dividends have not, during the preceding 5 years, exceeded 8% per year; also income of associations and corporations engaged solely in processing and marketing farm products for one such cooperative association or corporation and which do not charge for such marketing and processing more than a sufficient amount to pay the cost of such marketing and processing and 8% dividends on their capital stock and to add 5% to their surplus.
71.26(1)(d)
(d) Bank in liquidation. Income of any bank placed in the hands of the division of banking for liquidation under
s. 220.08, if the tax levied, assessed or collected under this chapter on account of such bank diminishes the assets thereof so that full payment of all depositors cannot be made. Whenever the division of banking certifies to the department of revenue that the tax or any part thereof levied and assessed under this chapter against any such bank will so diminish the assets thereof that full payment of all depositors cannot be made, the department of revenue shall cancel and abate such tax or part thereof, together with any penalty thereon. This paragraph shall apply to unpaid taxes which were levied and assessed subsequent to the time the bank was taken over by the division of banking.
71.26(1)(e)
(e) Menominee Indian tribe; distribution of assets. No distribution of assets from the United States to the members of the Menominee Indian tribe as defined in
s. 49.385 or their lawful distributees, or to any corporation, or organization, created by the tribe or at its direction pursuant to section 8 of
P.L. 83-399, as amended, and no issuance of stocks, bonds, certificates of indebtedness, voting trust certificates or other securities by any such corporation or organization, or voting trust, to such members of the tribe or their lawful distributees shall be subject to income or franchise taxes under this chapter; provided that so much of any cash distribution made under said
P.L. 83-399 as consists of a share of any interest earned on funds deposited in the treasury of the United States pursuant to the supplemental appropriation act, 1952, (65 Stat. 736, 754) shall not by virtue of this paragraph be exempt from the individual income tax of this state in the hands of the recipients for the year in which paid. For the purpose of ascertaining the gain or loss resulting from the sale or other disposition of such assets and stocks, bonds, certificates of indebtedness and other securities under this chapter, the fair market value of such property, on termination date as defined in s.
70.057 (1), 1967 stats., shall be the basis for determining the amount of such gain or loss.
71.26(1)(f)
(f)
Real estate mortgage investment conduits. The income of a real estate mortgage investment conduit that is exempt for federal income tax purposes under section
860A of the internal revenue code.
71.26(1)(g)
(g) For taxable years beginning after December 31, 2006, the amount of any incentive payment received by an individual under
s. 23.33 (5r) in the taxable year to which the claim relates.
71.26(1m)
(1m) Exemption from the income tax. The interest and income from the following obligations are exempt from the tax imposed under
s. 71.23 (1):
71.26(1m)(e)
(e) Those issued under
s. 234.65 to fund an economic development loan to finance construction, renovation or development of property that would be exempt under
s. 70.11 (36).
71.26(1m)(em)
(em) Those issued under
s. 234.08 or
234.61, on or after January 1, 2004, if the obligations are issued to fund multifamily affordable housing projects or elderly housing projects.
71.26(1m)(g)
(g) Those issued under
s. 66.0621 by a local professional baseball park district, a local professional football stadium district, or a local cultural arts district.
71.26(1m)(i)
(i) Those issued under
s. 231.03 (6), on or after October 27, 2007, if the proceeds from the obligations that are issued are used by a health facility, as defined in
s. 231.01 (5), to fund the acquisition of information technology hardware or software.
71.26(1m)(k)1.
1. The bonds or notes are used to fund multifamily affordable housing projects or elderly housing projects in this state, and the Wisconsin Housing and Economic Development Authority has the authority to issue its bonds or notes for the project being funded.
71.26(1m)(k)2.
2. The bonds or notes are used by a health facility, as defined in
s. 231.01 (5), to fund the acquisition of information technology hardware or software, in this state, and the Wisconsin Health and Educational Facilities Authority has the authority to issue its bonds or notes for the project being funded.
71.26(1m)(k)3.
3. The bonds or notes are issued to fund a redevelopment project in this state or a housing project in this state, and the authority exists for bonds or notes to be issued by an entity described under
s. 66.1201,
66.1333, or
66.1335.
71.26(2)(a)(a)
Corporations in general. The "net income" of a corporation means the gross income as computed under the Internal Revenue Code as modified under
sub. (3) and modified as follows:
71.26(2)(a)3.
3. Minus, as provided under
s. 71.28 (3) (c) 7., the amount of the credit under
s. 71.28 (3) that the taxpayer added to income under this paragraph at the time that the taxpayer first claimed the credit.
71.26(2)(a)4.
4. Plus the amount of the credit computed under
s. 71.28 (1dd),
(1de),
(1di),
(1dj),
(1dL),
(1dm),
(1ds),
(1dx),
(1dy),
(3g),
(3h),
(3n),
(3p),
(3q),
(3r),
(3rm),
(3rn),
(3t),
(3w),
(5e),
(5f),
(5g),
(5h),
(5i),
(5j),
(5k),
(5r),
(5rm), and
(8r) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under
s. 71.21 (4) or
71.34 (1k) (g).
71.26 Note
NOTE: Subd. 4. is shown as affected by 4 acts of the 2009 Wisconsin Legislature and as merged by the legislative reference bureau under s. 13.92 (2) (i). The cross-reference to s. 71.28 (3rn) was changed from s. 71.28 (3rm) by the legislative reference bureau under s. 13.92 (1) (bm) 2. to reflect the renumbering of s. 71.28 (3rm), as created by
2009 Wis. Act 295, under s. 13.92 (1) (bm) 2.
71.26(2)(a)5.
5. Plus the amount of losses from the sale or other disposition of assets the gain from which would be wholly exempt income, as defined in
sub. (3) (L), if the assets were sold or otherwise disposed of at a gain and minus deductions, as computed under the Internal Revenue Code as modified under
sub. (3).
71.26(2)(a)6.
6. Plus or minus, as appropriate, an amount equal to the difference between the federal basis and Wisconsin basis of any asset sold, exchanged, abandoned, or otherwise disposed of in a taxable transaction during the taxable year, except as provided in
par. (b) and
s. 71.45 (2) and
(5).
71.26(2)(a)7.
7. Plus the amount deducted or excluded under the Internal Revenue Code for interest expenses, rental expenses, intangible expenses, and management fees that are directly or indirectly paid, accrued, or incurred to, or in connection directly or indirectly with one or more direct or indirect transactions with, one or more related entities.
71.26(2)(a)8.
8. Minus the amount added to gross income under
subd. 7., to the extent that the conditions under
s. 71.80 (23) are satisfied.
71.26(2)(a)9.
9. Minus the amount added, pursuant to
subd. 7. or
s. 71.05 (6) (a) 24.,
71.34 (1k) (j), or
71.45 (2) (a) 16., to the federal income of a related entity that paid interest expenses, rental expenses, intangible expenses, or management fees to the corporation, to the extent that the related entity could not offset such amount with the deduction allowable under
subd. 8. or
s. 71.05 (6) (b) 45.,
71.34 (1k) (k), or
71.45 (2) (a) 17.
71.26(2)(b)
(b)
Regulated investment companies, real estate mortgage investment conduits, real estate investment trusts and financial asset securitization investment trusts. 71.26(2)(b)15.15. For taxable years that begin after December 31, 1999, and before January 1, 2003, for a corporation, conduit or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 1999, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, and as amended by
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101, 301 (a), and 406 of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101, 301 (a), and 406 of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit or trust as determined under the Internal Revenue Code as amended to December 31, 1999, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, and as amended by
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101, 301 (a), and 406 of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L.110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101, 301 (a), and 406 of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, except that property that, under s.
71.02 (1) (c) 8. to
11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 1999, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, and as amended by
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101, 301 (a), and 406 of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101, 301 (a), and 406 of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 1999, do not apply to this subdivision with respect to taxable years that begin after December 31, 1999, and before January 1, 2003, except that changes to the Internal Revenue Code made by
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101, 301 (a), and 406 of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and changes that indirectly affect the provisions applicable to this subchapter made by
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101, 301 (a), and 406 of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, apply for Wisconsin purposes at the same time as for federal purposes.
71.26(2)(b)16.
16. For taxable years that begin after December 31, 2002, and before January 1, 2004, for a corporation, conduit, or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust, or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 2002, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, and sections 101 and 301 (a) of
P.L. 107-147, and as amended by
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit, or trust as determined under the Internal Revenue Code as amended to December 31, 2002, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, and sections 101 and 301 (a) of
P.L. 107-147, and as amended by
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, except that property that, under s.
71.02 (1) (c) 8. to
11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 2002, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, and sections 101 and 301 (a) of
P.L. 107-147, and as amended by
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 2002, do not apply to this subdivision with respect to taxable years that begin after December 31, 2002, and before January 1, 2004, except that changes to the Internal Revenue Code made by
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and changes that indirectly affect the provisions applicable to this subchapter made by
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, apply for Wisconsin purposes at the same time as for federal purposes.
71.26(2)(b)17.
17. For taxable years that begin after December 31, 2003, and before January 1, 2005, for a corporation, conduit, or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust, or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 2003, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 109 of
P.L. 108-121, and section 1201 of
P.L. 108-173, and as amended by
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit, or trust as determined under the Internal Revenue Code as amended to December 31, 2003, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 109 of
P.L. 108-121, and section 1201 of
P.L. 108-173, and as amended by
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, except that property that, under s.
71.02 (1) (c) 8. to
11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 2003, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 109 of
P.L. 108-121, and section 1201 of
P.L. 108-173, and as amended by
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121, excluding section 109 of
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 2003, do not apply to this subdivision with respect to taxable years that begin after December 31, 2003, and before January 1, 2005, except that changes to the Internal Revenue Code made by
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and changes that indirectly affect the provisions applicable to this subchapter made by
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 307, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, apply for Wisconsin purposes at the same time as for federal purposes.
71.26(2)(b)18.
18. For taxable years that begin after December 31, 2004, and before January 1, 2006, for a corporation, conduit, or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust, or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 2004, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, and sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357, and as amended by
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit, or trust as determined under the Internal Revenue Code as amended to December 31, 2004, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, and sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357, and as amended by
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, except that property that, under s.
71.02 (1) (c) 8. to
11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 2004, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, and sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357, and as amended by
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 2004, do not apply to this subdivision with respect to taxable years that begin after December 31, 2004, and before January 1, 2006, except that changes to the Internal Revenue Code made by
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and changes that indirectly affect the provisions applicable to this subchapter made by
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, apply for Wisconsin purposes at the same time as for federal purposes.
71.26(2)(b)19.
19. For taxable years that begin after December 31, 2005, and before January 1, 2007, for a corporation, conduit, or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust, or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 2005, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, and sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, and as amended by
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit, or trust as determined under the Internal Revenue Code as amended to December 31, 2005, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, and sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, and as amended by
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222, 109-227,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, except that property that, under s.
71.02 (1) (c) 8. to
11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 2005, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, and sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, and as amended by
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 2005, do not apply to this subdivision with respect to taxable years that begin after December 31, 2005, and before January 1, 2007, except that changes to the Internal Revenue Code made by
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, and changes that indirectly affect the provisions applicable to this subchapter made by
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280, and
P.L. 110-458, apply for Wisconsin purposes at the same time as for federal purposes.
71.26(2)(b)20.
20. For taxable years that begin after December 31, 2006, and before January 1, 2008, for a corporation, conduit, or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust, or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 2006, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222, sections 811 and 844 of
P.L. 109-280, and
P.L. 109-432, and as amended by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280,
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit, or trust as determined under the Internal Revenue Code as amended to December 31, 2006, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222, sections 811 and 844 of
P.L. 109-280, and
P.L. 109-432, and as amended by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280,
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, except that property that, under s.
71.02 (1) (c) 8. to
11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 2006, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222, sections 811 and 844 of
P.L. 109-280, and
P.L. 109-432, and as amended by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222, 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280,
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 2006, do not apply to this subdivision with respect to taxable years that begin after December 31, 2006, and before January 1, 2008, except that changes to the Internal Revenue Code made by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, and changes that indirectly affect the provisions applicable to this subchapter made by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, apply for Wisconsin purposes at the same time as for federal purposes.
71.26(2)(b)21.
21. For taxable years that begin after December 31, 2007, and before January 1, 2009, for a corporation, conduit, or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust, or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 2007, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222, sections 811 and 844 of
P.L. 109-280,
P.L. 109-432,
P.L. 110-28,
P.L. 110-140,
P.L. 110-141,
P.L. 110-142,
P.L. 110-166, and
P.L. 110-172, and as amended by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280,
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit, or trust as determined under the Internal Revenue Code as amended to December 31, 2007, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222, sections 811 and 844 of
P.L. 109-280,
P.L. 109-432,
P.L. 110-28,
P.L. 110-140,
P.L. 110-141,
P.L. 110-142,
P.L. 110-166, and
P.L. 110-172, and as amended by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280,
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, except that property that, under s.
71.02 (1) (c) 8. to
11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 2007, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222, sections 811 and 844 of
P.L. 109-280,
P.L. 109-432,
P.L. 110-28,
P.L. 110-140,
P.L. 110-141,
P.L. 110-142,
P.L. 110-166, and
P.L. 110-172, and as amended by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, 512, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding sections 811 and 844 of
P.L. 109-280,
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 2007, do not apply to this subdivision with respect to taxable years that begin after December 31, 2007, and before January 1, 2009, except that changes to the Internal Revenue Code made by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, and changes that indirectly affect the provisions applicable to this subchapter made by
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, apply for Wisconsin purposes at the same time as for federal purposes.
71.26(2)(b)22.
22. For taxable years that begin after December 31, 2008, for a corporation, conduit, or common law trust which qualifies as a regulated investment company, real estate mortgage investment conduit, real estate investment trust, or financial asset securitization investment trust under the Internal Revenue Code as amended to December 31, 2008, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, sections 101, 207, 209, 503, and 513 of
P.L. 109-222, section 844 of
P.L. 109-280,
P.L. 109-432,
P.L. 110-28,
P.L. 110-140,
P.L. 110-141,
P.L. 110-142,
P.L. 110-166,
P.L. 110-172,
P.L. 110-185,
P.L. 110-234, sections 110, 113, and 301 of
P.L. 110-245,
P.L. 110-246,
P.L. 110-289,
P.L. 110-317,
P.L. 110-343, and
P.L. 110-351, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding section 844 of
P.L. 109-280,
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, "net income" means the federal regulated investment company taxable income, federal real estate mortgage investment conduit taxable income, federal real estate investment trust or financial asset securitization investment trust taxable income of the corporation, conduit, or trust as determined under the Internal Revenue Code as amended to December 31, 2008, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, sections 101, 207, 209, 503, and 513 of
P.L. 109-222, section 844 of
P.L. 109-280,
P.L. 109-432,
P.L. 110-28,
P.L. 110-140,
P.L. 110-141,
P.L. 110-142,
P.L. 110-166,
P.L. 110-172,
P.L. 110-185,
P.L. 110-234, sections 110, 113, and 301 of
P.L. 110-245,
P.L. 110-246,
P.L. 110-289,
P.L. 110-317,
P.L. 110-343, and
P.L. 110-351, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding section 844 of
P.L. 109-280,
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, except that property that, under s.
71.02 (1) (c) 8. to
11., 1985 stats., is required to be depreciated for taxable years 1983 to 1986 under the Internal Revenue Code as amended to December 31, 1980, shall continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, and except that the appropriate amount shall be added or subtracted to reflect differences between the depreciation or adjusted basis for federal income tax purposes and the depreciation or adjusted basis under this chapter of any property disposed of during the taxable year. The Internal Revenue Code as amended to December 31, 2008, excluding sections 103, 104, and 110 of
P.L. 102-227, sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66, sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188, sections 1, 3, 4, and 5 of
P.L. 106-519, sections 162 and 165 of
P.L. 106-554,
P.L. 106-573, section 431 of
P.L. 107-16, sections 101 and 301 (a) of
P.L. 107-147, sections 106, 201, and 202 of
P.L. 108-27, section 1201 of
P.L. 108-173, sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311, sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 109-1, sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58, section 11146 of
P.L. 109-59, section 301 of
P.L. 109-73, sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135, sections 101, 207, 209, 503, and 513 of
P.L. 109-222, section 844 of
P.L. 109-280,
P.L. 109-432,
P.L. 110-28,
P.L. 110-140,
P.L. 110-141,
P.L. 110-142,
P.L. 110-166,
P.L. 110-172,
P.L. 110-185,
P.L. 110-234, sections 110, 113, and 301 of
P.L. 110-245,
P.L. 110-246,
P.L. 110-289,
P.L. 110-317,
P.L. 110-343, and
P.L. 110-351, and as indirectly affected in the provisions applicable to this subchapter by
P.L. 99-514,
P.L. 100-203,
P.L. 100-647,
P.L. 101-73,
P.L. 101-140,
P.L. 101-179,
P.L. 101-239,
P.L. 101-508,
P.L. 102-227, excluding sections 103, 104, and 110 of
P.L. 102-227,
P.L. 102-318,
P.L. 102-486,
P.L. 103-66, excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of
P.L. 103-66,
P.L. 103-296,
P.L. 103-337,
P.L. 103-465,
P.L. 104-7,
P.L. 104-188, excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of
P.L. 104-188,
P.L. 104-191,
P.L. 104-193,
P.L. 105-33,
P.L. 105-34,
P.L. 105-178,
P.L. 105-206,
P.L. 105-277,
P.L. 106-36,
P.L. 106-170,
P.L. 106-230,
P.L. 106-554, excluding sections 162 and 165 of
P.L. 106-554,
P.L. 107-15,
P.L. 107-16, excluding section 431 of
P.L. 107-16,
P.L. 107-22,
P.L. 107-116,
P.L. 107-134,
P.L. 107-147, excluding sections 101 and 301 (a) of
P.L. 107-147,
P.L. 107-181,
P.L. 107-210,
P.L. 107-276,
P.L. 107-358,
P.L. 108-27, excluding sections 106, 201, and 202 of
P.L. 108-27,
P.L. 108-121,
P.L. 108-173, excluding section 1201 of
P.L. 108-173,
P.L. 108-203,
P.L. 108-218,
P.L. 108-311, excluding sections 306, 308, 316, 401, and 403 (a) of
P.L. 108-311,
P.L. 108-357, excluding sections 101, 102, 201, 211, 242, 244, 336, 337, 422, 847, 909, and 910 of
P.L. 108-357,
P.L. 108-375,
P.L. 108-476,
P.L. 109-7,
P.L. 109-58, excluding sections 1305, 1308, 1309, 1310, 1323, 1324, 1325, 1326, 1328, 1329, 1348, and 1351 of
P.L. 109-58,
P.L. 109-59, excluding section 11146 of
P.L. 109-59,
P.L. 109-73, excluding section 301 of
P.L. 109-73,
P.L. 109-135, excluding sections 101, 105, 201 (a) as it relates to section 1400S (a), 402 (e), 403 (e), (j), and (q), and 405 of
P.L. 109-135,
P.L. 109-151,
P.L. 109-222, excluding sections 101, 207, 209, 503, and 513 of
P.L. 109-222,
P.L. 109-227,
P.L. 109-280, excluding section 844 of
P.L. 109-280,
P.L. 110-245, excluding sections 110, 113, and 301 of
P.L. 110-245, and
P.L. 110-458, applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the Internal Revenue Code enacted after December 31, 2008, do not apply to this subdivision with respect to taxable years that begin after December 31, 2008.
71.26 Note
NOTE: Subd. 22. is shown as affected by 2 acts of the 2009 Wisconsin legislature and as merged by the legislative reference bureau under s. 13.92 (2) (i).
71.26(3)
(3) Modifications. The income of a corporation shall be computed under the internal revenue code, except a corporation under
sub. (2) (b), as modified in the following ways:
71.26(3)(ag)
(ag) Section 61 (relating to the definition of gross income) is modified to exclude income received by the original policyholder or original certificate holder who has a catastrophic or life-threatening illness or condition from the sale of a life insurance policy or certificate, or the sale of the death benefit under a life insurance policy or certificate, under a life settlement contract, as defined in
s. 632.69 (1) (k). In this paragraph, "catastrophic or life-threatening illness or condition" includes AIDS, as defined in
s. 49.686 (1) (a), and HIV infection, as defined in
s. 49.686 (1) (d).
71.26(3)(ar)
(ar) Section 78 (relating to treating taxes as dividends) is excluded.
71.26(3)(b)
(b) Section 103 (relating to an exemption for interest) is excluded and replaced, for corporations subject to taxation under
s. 71.23 (1), by the rule that any interest income not included in federal taxable income, except interest under
sub. (1m), is added to federal taxable income and any interest income which is by federal law exempt from taxation by this state is excluded, and replaced, for corporations subject to taxation under
s. 71.23 (2), by the rule that any interest income not included in federal taxable income is added to federal taxable income.
71.26(3)(c)
(c) Section 108 (b) (relating to reduction of tax attributes) is modified so that the net operating loss under
sub. (4), not the federal net operating loss, and Wisconsin credits, not federal credits, are applied, and the reduction rate for a credit carry-over is 7.9%, not 33 1/3%.
71.26(3)(d)
(d) Section 133 (relating to an exclusion for interest) is excluded.
71.26(3)(e)
(e) Section 162 (relating to trade or business expenses) is modified as follows:
71.26(3)(e)1.
1. So that payments for wages, salaries, commissions and bonuses of employees and officers may be deducted only if the name, address and amount paid to each resident of this state to whom compensation of $600 or more has been paid during the taxable year is reported or if the department of revenue is satisfied that failure to report has resulted in no revenue loss to this state.
71.26(3)(e)2.
2. So that payments for rent may be deducted only if the amount paid, together with the names and addresses of the parties to whom rent has been paid, is reported as provided under
s. 71.70 (2).
71.26(3)(f)
(f) Section 164 (a) is modified so that foreign taxes are not deductible unless the income on which the tax is based is taxable under this chapter and so that gross receipts taxes assessed in lieu of property taxes, the license fee under
s. 76.28 and the taxes under
ss. 70.375,
76.81 and
76.91 are deductible.
71.26(3)(g)
(g) Section 164 (a) (3) is modified so that state taxes and taxes of the District of Columbia that are value-added taxes, single business taxes or taxes on or measured by all or a portion of net income, gross income, gross receipts or capital stock are not deductible.
71.26(3)(h)
(h) Section 164 (a) (4) as it relates to a deduction for the windfall profits tax is excluded.
71.26(3)(hd)
(hd) Section 164 (a) as it relates to a deduction for the environmental tax that is imposed under section 59A is excluded.
71.26(3)(hm)
(hm) Section 171 is modified so that the rules for federally taxable bonds also apply to bonds that are taxable under
par. (b) and the rules for federally tax-exempt bonds apply to bonds that are exempt from tax under this chapter.
71.26(3)(i)
(i) Section 172 is excluded and replaced by the treatment of business loss carry-forwards under
sub. (4).
71.26(3)(j)
(j) Sections 243, 244, 245, 246 and 246A are excluded and replaced by the rule that corporations may deduct from income dividends received from a corporation with respect to its common stock if the corporation receiving the dividends owns, directly or indirectly, during the entire taxable year at least 70% of the total combined voting stock of the payor corporation. In this paragraph, "dividends received" means gross dividends minus taxes on those dividends paid to a foreign nation and claimed as a deduction under this chapter. The same dividends may not be deducted more than once.
71.26 Cross-reference
Cross-reference: See also s.
Tax 3.03, Wis. adm. code.
71.26(3)(k)
(k) Section 247 (relating to dividends on preferred stock of public utilities) is excluded.
71.26(3)(L)
(L) Section 265 is excluded and replaced by the rule that any amount otherwise deductible under this chapter that is directly or indirectly related to income wholly exempt from taxes imposed by this chapter or to losses from the sale or other disposition of assets the gain from which would be exempt under this paragraph if the assets were sold or otherwise disposed of at a gain is not deductible. In this paragraph, "wholly exempt income", for corporations subject to franchise or income taxes, includes amounts received from affiliated or subsidiary corporations for interest, dividends or capital gains that, because of the degree of common ownership, control or management between the payor and payee, are not subject to taxes under this chapter. In this paragraph, "wholly exempt income", for corporations subject to income taxation under this chapter, also includes interest on obligations of the United States. In this paragraph, "wholly exempt income" does not include income excludable, not recognized, exempt or deductible under specific provisions of this chapter. If any expense or amount otherwise deductible is indirectly related both to wholly exempt income or loss and to other income or loss, a reasonable proportion of the expense or amount shall be allocated to each type of income or loss, in light of all the facts and circumstances.
71.26(3)(m)
(m) Section 267 (relating to transactions between related taxpayers) is modified so that gains may be reduced only if the corresponding loss was incurred while the corporation was subject to tax under this chapter.
