76.635(5)
(5) Sale of credit. An insurer may sell a credit under this section to another insurer that is subject to taxation under this subchapter if the insurer notifies the commissioner of insurance of the sale and includes with that notification a copy of the transfer documents.
76.635(6)
(6) Nullification of credit precluded. This state may not impose a new tax or change an existing tax in order to nullify the credit created under this section.
76.636
76.636
Credit for certain development zone activities. 76.636(1)(a)
(a) "Brownfield" means an industrial or commercial facility in which expansion or redevelopment is complicated by environmental contamination.
76.636(1)(b)
(b) "Development zone" means any of the following:
76.636(1)(c)
(c) "Environmental remediation" means removal or containment of environmental pollution, as defined in
s. 299.01 (4), and restoration of soil or groundwater that is affected by environmental pollution, as defined in
s. 299.01 (4), in a brownfield if that removal, containment, or restoration fulfills the requirement under
s. 71.47 (1de) (a) 1., unless an investigation of the property determines that remediation is required and that remediation is not undertaken.
76.636(1)(e)1.
1. A person who resides in an area designated by the federal government as an economic revitalization area.
76.636(1)(e)2.
2. A person who is employed in an unsubsidized job but meets the eligibility requirements under
s. 49.145 (2) and
(3) for a Wisconsin Works employment position.
76.636(1)(e)5.
5. A person who is a vocational rehabilitation referral.
76.636(2)
(2) Credits. Except as provided in
s. 73.03 (35), and subject to s.
238.385 or s.
560.785, 2009 stats., for any taxable year for which an insurer is entitled under s.
238.395 or s.
560.795 (3), 2009 stats., to claim tax benefits or certified under
s. 238.365 (3),
238.397 (4), or
238.398 (3) or s.
560.765 (3), 2009 stats., s.
560.797 (4), 2009 stats., or s.
560.798 (3), 2009 stats., the insurer may claim as a credit against the fees due under
s. 76.60,
76.63,
76.65,
76.66, or
76.67 the following amounts:
76.636(2)(a)
(a) Fifty percent of the amount expended for environmental remediation in a development zone.
76.636(2)(b)
(b) The amount determined by multiplying the amount determined under s.
238.385 (1) (b) or s.
560.785 (1) (b), 2009 stats., by the number of full-time jobs created in a development zone and filled by a member of a targeted group and by then subtracting the subsidies paid under
s. 49.147 (3) (a) for those jobs.
76.636(2)(c)
(c) The amount determined by multiplying the amount determined under s.
238.385 (1) (c) or s.
560.785 (1) (c), 2009 stats., by the number of full-time jobs created in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under
s. 49.147 (3) (a) for those jobs.
76.636(2)(d)
(d) The amount determined by multiplying the amount determined under s.
238.385 (1) (bm) or s.
560.785 (1) (bm), 2009 stats., by the number of full-time jobs retained, as provided in the rules under s.
238.385 or s.
560.785, 2009 stats., excluding jobs for which a credit has been claimed under
s. 71.47 (1dj), in an enterprise development zone under s.
238.397 or s.
560.797, 2009 stats., and for which significant capital investment was made and by then subtracting the subsidies paid under
s. 49.147 (3) (a) for those jobs.
76.636(2)(e)
(e) The amount determined by multiplying the amount determined under s.
238.385 (1) (c) or s.
560.785 (1) (c), 2009 stats., by the number of full-time jobs retained, as provided in the rules under s.
238.385 or s.
560.785, 2009 stats., excluding jobs for which a credit has been claimed under
s. 71.47 (1dj), in a development zone and not filled by a member of a targeted group and by then subtracting the subsidies paid under
s. 49.147 (3) (a) for those jobs.
76.636(3)
(3) Carry-forward. If the credit under
sub. (2) is not entirely offset against the fees under
s. 76.60,
76.63,
76.65,
76.66, or
76.67 otherwise due, the unused balance may be carried forward and credited against those fees for the following 15 years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the expense was made and the year in which the carry-forward credit is claimed.
76.636(4)
(4) Credit precluded. If the certification of a person for tax benefits under
s. 238.365 (3),
238.397 (4), or
238.398 (3) or s.
560.765 (3), 2009 stats., s.
560.797 (4), 2009 stats., or s.
560.798 (3), 2009 stats., is revoked, or if the person becomes ineligible for tax benefits under s.
238.395 (3) or s.
560.795 (3), 2009 stats., that person may not do any of the following:
76.636(4)(a)
(a) Claim credits under this section for any of the following:
76.636(4)(a)1.
1. The taxable year that includes the day on which the certification is revoked.
76.636(4)(a)2.
2. The taxable year that includes the day on which the person becomes ineligible for tax benefits.
76.636(4)(b)1.
1. The taxable year that includes the day on which certification is revoked.
76.636(4)(b)2.
2. The taxable year that includes the day on which the person becomes ineligible for tax benefits.
76.636(5)
(5) Carry-over precluded. If a person who is entitled under s.
238.395 (3) or s.
560.795 (3), 2009 stats., to claim tax benefits or certified under
s. 238.365 (3),
238.397 (4), or
238.398 (3) or s.
560.765 (3), 2009 stats., s.
560.797 (4), 2009 stats., or s.
560.798 (3), 2009 stats., for tax benefits ceases business operations in the development zone during any of the taxable years that that zone exists, that person may not carry over to any taxable year following the year during which operations cease any unused credits from the taxable year during which operations cease or from previous taxable years.
76.636(6)
(6) Administration. Any insurer who claims a credit under
sub. (2) shall include with the insurer's annual return under
s. 76.64 a copy of its certification for tax benefits and a copy of its verification of expenses from the department of commerce or the Wisconsin Economic Development Corporation.
76.637
76.637
Economic development credit. 76.637(1)
(1)
Definition. In this section, "claimant" means an insurer who files a claim under this section and is certified under s.
238.301 (2) or s.
560.701 (2), 2009 stats., and authorized to claim tax benefits under s.
238.303 or s.
560.703, 2009 stats.
76.637(2)
(2) Filing claims. Subject to the limitations under this section,
ss. 238.301 to
238.306, and ss.
560.701 to
560.706, 2009 stats., for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the fees due under
s. 76.60,
76.63,
76.65,
76.66, or
76.67 the amount authorized for the claimant under s.
238.303 or s.
560.703, 2009 stats.
76.637(3)
(3) Limitations. No credit may be allowed under this section unless the insurer includes with the insurer's annual return under
s. 76.64 a copy of the claimant's certification under s.
238.301 (2) or s.
560.701 (2), 2009 stats., and a copy of the claimant's notice of eligibility to receive tax benefits under s.
238.303 (3) or s.
560.703 (3), 2009 stats.
76.637(4)
(4) Administration. If an insurer's certification is revoked under s.
238.305 or s.
560.705, 2009 stats., or if an insurer becomes ineligible for tax benefits under s.
238.302 or s.
560.702, 2009 stats., the insurer may not claim credits under this section for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the insurer becomes ineligible for tax benefits; or succeeding taxable years and the insurer may not carry over unused credits from previous years to offset the fees imposed under
ss. 76.60,
76.63,
76.65,
76.66, or
76.67 for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the insurer becomes ineligible for tax benefits; or succeeding taxable years.
76.637 History
History: 2009 a. 2;
2011 a. 32.
76.638
76.638
Early stage seed investment credit. 76.638(1)
(1)
Definitions. In this section, "fund manager" means an investment fund manager certified under s.
238.15 (2) or s.
560.205 (2), 2009 stats.
76.638(2)
(2) Filing claims. For taxable years beginning after December 31, 2008, subject to the limitations provided under this subsection and s.
238.15 or s.
560.205, 2009 stats., an insurer may claim as a credit against the fees imposed under
s. 76.60,
76.63,
76.65,
76.66, or
76.67, 25 percent of the insurer's investment paid to a fund manager that the fund manager invests in a business certified under s.
238.15 or s.
560.205 (1), 2009 stats.
76.638(3)
(3) Investment basis. The Wisconsin adjusted basis of any investment for which a credit is claimed under
sub. (2) shall be reduced by the amount of the credit that is offset against the fees imposed under
s. 76.60,
76.63,
76.65,
76.66, or
76.67.
76.638(4)
(4) Carry-forward. If the credit under
sub. (2) is not entirely offset against the fees under
s. 76.60,
76.63,
76.65,
76.66, or
76.67 otherwise due, the unused balance may be carried forward and credited against those fees for the following 15 years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the expense was made and the year in which the carry-forward credit is claimed.
76.638 History
History: 2009 a. 2;
2011 a. 32.
76.64
76.64
Quarterly installments. Insurers shall pay installments of the total estimated payment under
ss. 76.60,
76.63,
76.65 and
76.66 on or before April 15, June 15, September 15 and December 15. Every insurer shall make a return for the preceding calendar year on or before March 1 setting forth the information that the commissioner of insurance reasonably requires, on forms prescribed by the commissioner. On or before March 1, the insurer shall pay any additional amount due for the preceding calendar year. Overpayment will be credited on the amount due April 15.
76.64 History
History: 1979 c. 102 s.
24; Stats. 1979 s. 76.64;
1981 c. 20;
1985 a. 29;
1989 a. 31.
76.645(1)(1)
Late payment. An insurer that fails to make quarterly payments under
s. 76.64 of at least 25% of either the total tax paid for the previous calendar year or 80% of the actual tax for the current calendar year is liable, in addition to the amount due, for interest of 1.5% of the amount due and unpaid for each month or part of a month that the amount due, together with any interest, remains unpaid.
76.645(2)
(2) Negligence. An insurer that fails to pay an amount due, or file a return required, under
s. 76.64, and upon a showing by the department of revenue under
s. 73.16 (4), is liable for the greater of the following amounts:
76.645(2)(b)
(b) Five percent of the amount due for each month or fraction of a month during which the failure continues, but not more than 25% of the amount due.
76.645 History
History: 1985 a. 29;
2011 a. 68.
76.65
76.65
Life insurers; license fee. Every insurer doing a life insurance business within this state, except fraternals as defined in
s. 614.01, shall pay into the state treasury as an annual license fee for transacting such business the amounts following:
76.65(1)(a)(a) If such insurer is organized under the laws of this state, it shall pay as an annual license fee 3.5% upon its gross income from all sources for the preceding calendar year except interest required to provide and maintain reserves according to the laws of this state, and except premiums collected on policies of insurance and contracts for annuities. No domestic insurer shall, however, in any year pay in the aggregate for license fee as prescribed in this paragraph an amount in excess of the annual license fee which would have been payable by it in such year under
sub. (2) had it been operating as a foreign insurer subject to
sub. (2). Any domestic insurer having in excess of $750,000,000 of insurance in force as of December 31 of the preceding calendar year, excluding therefrom any reinsurance assumed on which premium taxes are payable by the ceding insurer, shall not pay less in the aggregate for a license fee as prescribed in this paragraph than the amount of the annual license fee which would have been payable by it in such year under
sub. (2) had it been operating as a foreign insurer subject to
sub. (2). Payments under this paragraph shall be made annually on or before March 1.
76.65(1)(b)
(b) In computing the fee under
par. (a), the amount of such gross income shall, after deducting the excepted portions thereof, be multiplied by a fraction the numerator of which is the net investment income applicable to life insurance and annuities and the denominator of which is the total net investment income, as set forth in the annual statement forms for such year as approved by the commissioner of insurance.
76.65(2)
(2) Foreign insurers. If any such insurer is organized outside of this state, it shall pay into the state treasury, as such annual license fee, 2% upon the excess of the gross premiums received in money or otherwise during the preceding calendar year on all policies or contracts of insurance on the lives of residents of this state after deducting all sums apportioned to premium paying policies on the lives of residents of this state from annual distribution of profits, savings, earnings or surplus which before the expiration of the calendar year next succeeding such apportionment have been either paid in cash or applied in part payment of premiums.
76.65 History
History: 1971 c. 215,
289;
1975 c. 373;
1979 c. 102 s.
25; Stats. 1979 s. 76.65;
1981 c. 20.
76.65 Annotation
Life insurance policy dividends left with the insurance company to accumulate at interest beyond the expiration of the calendar year are not to be treated as dividends "paid in cash" under s. 76.34 (2) [now s. 76.65]. Because of long-standing administrative construction, current dividends applied to purchase additional paid-up insurance are not reportable as gross premiums and thus, not taxable under s. 76.34 (2). Accumulated dividends so applied are reportable and taxable. 59 Atty. Gen. 152.
76.655
76.655
Health Insurance Risk-Sharing Plan assessments credit. 76.655(1)(1)
Definitions. In this section, "claimant" means an insurer, as defined in s.
149.10 (5), 2011 stats., who files a claim under this section.
76.655(2)
(2) Filing claims. Subject to the limitations provided under this section, for taxable years beginning after December 31, 2005, and before January 1, 2015, a claimant may claim as a credit against the fees imposed under
ss. 76.60,
76.63,
76.65,
76.66 or
76.67 an amount that is equal to the amount of assessment under s.
149.13, 2011 stats., that the claimant paid in the claimant's taxable year, multiplied by the percentage determined under
sub. (3).
76.655(3)(a)(a) The department of revenue, in consultation with the office of the commissioner of insurance, shall determine the percentage under
sub. (2) for each claimant for each taxable year. The percentage shall be equal to $5,000,000 divided by the aggregate assessment under s.
149.13, 2011 stats., except that for taxable years beginning after December 31, 2013, and before January 1, 2015, the percentage shall be equal to $1,250,000 divided by the aggregate assessment under s.
149.13, 2011 stats., and shall not exceed 100 percent. The office of the commissioner of insurance shall provide to each claimant that participates in the cost of administering the plan the aggregate assessment at the time that it notifies the claimant of the claimant's assessment. The aggregate amount of the credit under this subsection and
ss. 71.07 (5g),
71.28 (5g), and
71.47 (5g) for all claimants participating in the cost of administering the plan under ch.
149, 2011 stats., shall not exceed $5,000,000 in each fiscal year.
76.655(3)(b)
(b) The amount of any credits that a claimant is awarded under this section for taxable years beginning after December 31, 2005, and before January 1, 2008, may first be claimed against the fees imposed under
ss. 76.60,
76.63,
76.65, or
76.67 for taxable years beginning after December 31, 2007, and in the manner determined by the department of revenue.
76.655(4)
(4) Carry-forward. If the credit under
sub. (2) is not entirely offset against the fees imposed under
ss. 76.60,
76.63,
76.65,
76.66, or
76.67 that are otherwise due, the unused balance may be carried forward and credited against those fees in the following 15 years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the assessment was paid and the year in which the carry-forward credit is claimed.
76.655(5)
(5) Sunset. No credit may be claimed under this section for taxable years beginning after December 31, 2014. Credits under this section for taxable years that begin before January 1, 2015, may be carried forward to taxable years that begin after December 31, 2014.
76.655 History
History: 2005 a. 74;
2013 a. 20,
116.
76.66
76.66
Retaliatory taxation of nondomestic insurers. 76.66(1)(1) In this section, "taxes" means the taxes imposed on nondomestic insurers under
ss. 76.60,
76.63,
76.65 (2) and
601.93 less offsets allowed against those taxes under
s. 646.51 (7) or the amounts imposed on domestic insurers by another state or foreign country for similar purposes.
76.66(2)
(2) If another state or foreign country requires a domestic insurer doing business in that state or country to pay taxes greater in the aggregate than the aggregate amount of taxes that a nondomestic insurer doing business in this state would pay, each insurer domiciled in that state or foreign country shall pay to this state for the same year the amount that a domestic insurer doing a similar business would be required to pay to the other state or foreign country.
76.66 History
History: 1979 c. 102 s.
26; Stats. 1979 s. 76.66;
1983 a. 27;
1989 a. 31.
76.66 Annotation
Section 646.51 (7) is applicable to franchise taxes, income taxes, and fire department dues. Only Wisconsin's assessments are used for offsets against Wisconsin taxes. If assessments are reimbursed, the tax credit should be recaptured.
72 Atty. Gen. 17.
76.67
76.67
Reciprocal taxation of foreign insurers. 76.67(1)
(1) In this section, "taxes" means the taxes imposed on foreign insurers under
ss. 76.60,
76.63,
76.65 (2) and
601.93 less offsets allowed against those taxes under
s. 646.51 (7) or the amounts imposed on domestic insurers by another state for similar purposes.
