71.07(3m)(b)1.a.a. Subject to the limitations provided in this subsection and s.
71.80 (3) and
(3m), a claimant may claim as a credit against Wisconsin income taxes otherwise due, the amount derived under par.
(c). If the allowable amount of claim exceeds the income taxes otherwise due on the claimant's income or if there are no Wisconsin income taxes due on the claimant's income, the amount of the claim not used as an offset against income taxes shall be certified to the department of administration for payment to the claimant by check, share draft or other draft paid from the appropriations under s.
20.835 (2) (ka) and
(q).
71.07(3m)(b)1.b.
b. Every claimant under this subsection shall supply, at the request of the department, in support of the claim, a copy of the property tax bill relating to the farmland and certification by the claimant that all taxes owed by the claimant on the property for which the claim is made for the year before the year for which the claim is made have been paid.
71.07(3m)(b)2.
2. `Ineligible claims.' No credit may be allowed under this subsection:
71.07(3m)(b)2.b.
b. If the department determines that ownership of the farmland has been transferred to the claimant for the purpose of maximizing benefits under this subsection.
71.07(3m)(c)1.1. Any claimant may claim against taxes otherwise due under this chapter a percentage, as determined by the department under subd.
3., of the property taxes accrued in the taxable year to which the claim relates, up to a maximum claim of $1,500, except that the credit under this subsection plus the credit under subch.
IX may not exceed 95 percent of the property taxes accrued on the farm.
71.07(3m)(c)2.
2. Any claimant may claim against taxes otherwise due under this chapter, on an income or franchise tax return that includes the levy date, an additional one-time credit of 4.2 percent of the property taxes accrued, that are levied in December 1989, up to a maximum of $420.
71.07(3m)(c)3.
3. The department shall annually adjust the percentage that is used to determine the amount of a claim under subd.
1. based on the estimated number of claims and the amount estimated to be expended from the appropriation under s.
20.835 (2) (q), as determined under s.
79.13. The department shall incorporate the annually adjusted percentage into the income tax forms and instructions.
71.07(3m)(d)
(d)
General provisions. Section
71.61 (1) to
(4) as it applies to the credit under subch.
IX applies to the credit under this subsection.
71.07(3m)(e)
(e)
Sunset. No new claim may be filed under this subsection for a taxable year that begins after December 31, 2009.
71.07(3n)
(3n)
Dairy and livestock farm investment credit. 71.07(3n)(a)1.
1. “Claimant" means a person who files a claim under this subsection.
71.07(3n)(a)1m.
1m. “Dairy animals" includes heifers raised as replacement dairy animals.
71.07(3n)(a)1p.
1p. “Dairy farm" includes a facility used to raise heifers as replacement dairy animals.
71.07(3n)(a)2.
2. “Dairy farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for dairy animal housing, confinement, animal feeding, milk production, or waste management, including the following, if used exclusively related to dairy animals and if acquired and placed in service in this state during taxable years that begin after December 31, 2003, and before January 1, 2014:
71.07(3n)(a)4.
4. “Livestock" means cattle, not including dairy animals; swine; poultry, including farm-raised pheasants, but not including other farm-raised game birds or ratites; fish that are raised in aquaculture facilities; sheep; and goats.
71.07(3n)(a)5.
5. “Livestock farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for livestock housing, confinement, feeding, or waste management, including the following, if used exclusively related to livestock and if acquired and placed in service in this state during taxable years that begin after December 31, 2005, and before January 1, 2014:
71.07(3n)(a)6.a.a. For taxable years that begin after December 31, 2003, and before January 1, 2006, “used exclusively," related to dairy animals, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.
71.07(3n)(a)6.b.
b. For taxable years that begin after December 31, 2005, and before January 1, 2014, “used exclusively," related to livestock, dairy animals, or both, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.
71.07(3n)(b)1.1. Subject to the limitations provided in this subsection, for taxable years that begin after December 31, 2003, and before January 1, 2014, a claimant may claim as a credit against the tax imposed under ss.
71.02 and
71.08 an amount equal to 10 percent of the amount the claimant paid in the taxable year for dairy farm modernization or expansion related to the operation of the claimant's dairy farm.
71.07(3n)(b)2.
2. Subject to the limitations provided in this subsection, for taxable years that begin after December 31, 2005, and before January 1, 2014, a claimant may claim as a credit against the tax imposed under ss.
71.02 and
71.08 an amount equal to 10 percent of the amount the claimant paid in the taxable year for livestock farm modernization or expansion related to the operation of the claimant's livestock farm.
71.07(3n)(c)
(c) No credit may be allowed under this subsection for any amount that the claimant paid for expenses described under par.
(b) that the claimant also claimed as a deduction under section
162 of the Internal Revenue Code.
71.07(3n)(d)
(d) The aggregate amount of credits that a claimant may claim under this subsection is $75,000, except that no more than $50,000 of this amount may be based on costs incurred prior to May 27, 2010.
71.07(3n)(e)1.1. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of expenses under par.
(b), except that the aggregate amount of credits that the entity may compute shall not exceed the limitation under par.
(d). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interest.
71.07(3n)(e)2.
2. If 2 or more persons own and operate the dairy or livestock farm, each person may claim a credit under par.
(b) in proportion to his or her ownership interest, except that the aggregate amount of the credits claimed by all persons who own and operate the farm shall not exceed the limitation under par.
(d).
71.07 Cross-reference
Cross-reference: See also s.
Tax 2.99, Wis. adm. code.
71.07(3n)(g)
(g) No credit may be claimed under this subsection for taxable years beginning after December 31, 2013. Credits under this subsection for taxable years that begin before January 1, 2014, may be carried forward to taxable years that begin after December 31, 2013.
71.07(3q)(a)2.
2. “Eligible employee" means, for taxable years beginning before January 1, 2011, an eligible employee under s.
560.2055 (1) (b), 2009 stats., who satisfies the wage requirements under s.
560.2055 (3) (a) or
(b), 2009 stats., or, for taxable years beginning after December 31, 2010, an eligible employee under s.
238.16 (1) (b) who satisfies the wage requirements under s.
238.16 (3) (a) or
(b).
71.07(3q)(b)
(b)
Filing claims. Subject to the limitations provided in this subsection and s.
238.16 or s.
560.2055, 2009 stats., for taxable years beginning after December 31, 2009, a claimant may claim as a credit against the taxes imposed under s.
71.02 any of the following:
71.07(3q)(b)1.
1. The amount of wages that the claimant paid to an eligible employee in the taxable year, not to exceed 10 percent of such wages, as determined by the Wisconsin Economic Development Corporation under s.
238.16 or the department of commerce under s.
560.2055, 2009 stats.
71.07(3q)(c)1.1. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts under par.
(b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interests.
71.07(3q)(c)2.
2. No credit may be allowed under this subsection unless the claimant includes with the claimant's return a copy of the claimant's certification for tax benefits under s.
238.16 (2) or s.
560.2055 (2), 2009 stats.
71.07(3q)(c)3.
3. The maximum amount of credits that may be awarded under this subsection and ss.
71.28 (3q) and
71.47 (3q) for the period beginning on January 1, 2010, and ending on June 30, 2013, is $14,500,000, not including the amount of any credits reallocated under s.
238.15 (3) (d), 2015 stats., or s.
560.205 (3) (d), 2009 stats.
71.07(3q)(d)2.
2. If the allowable amount of the claim under par.
(b) exceeds the tax otherwise due under s.
71.02, the amount of the claim not used to offset the tax due shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation account under s.
20.835 (2) (bb), except that the amounts certified under this subdivision for taxable years beginning after December 31, 2009, and before January 1, 2012, shall be paid in taxable years beginning after December 31, 2011. Notwithstanding s.
71.82, no interest shall be paid on amounts certified under this subdivision.
71.07(3s)
(3s)
Manufacturing sales tax credit. 71.07(3s)(a)2.
2. “Sales and use tax under ch.
77 paid by the person" includes use taxes paid directly by the person and sales and use taxes paid by the person's supplier and passed on to the person whether separately stated on the invoice or included in the total price.
71.07(3s)(b)
(b) The tax imposed under s.
71.02 shall be reduced by an amount equal to the sales and use tax under ch.
77 paid by the person in such taxable year on fuel and electricity consumed in manufacturing tangible personal property in this state. Shareholders in a tax-option corporation and partners may claim the credit under this subsection, based on eligible sales and use taxes paid by the partnership or tax-option corporation, in proportion to the ownership interest of each partner or shareholder. The partnership or tax-option corporation shall calculate the amount of the credit which may be claimed by each partner or shareholder and shall provide that information to the partner or shareholder.
71.07(3s)(c)1.1. The credit under par.
(b), including any credits carried over, may be offset only against the amount of the tax imposed upon or measured by the business operations of the claimant in which the fuel and electricity are consumed. Except as provided in subd.
7., if the credit computed is not entirely offset against taxes otherwise due, the unused balance shall be carried forward and credited against taxes otherwise due for the following 20 taxable years to the extent not offset by taxes otherwise due in all intervening years between the year in which the expense was incurred and the year in which the carry-forward credit is claimed.
71.07(3s)(c)2.
2. For shareholders in a tax-option corporation, the credit may be offset only against the tax imposed on the shareholder's prorated share of the tax-option corporation's income.
71.07(3s)(c)3.
3. For partners, the credit may be offset only against the tax imposed on the partner's distributive share of partnership income.
71.07(3s)(c)4.
4. If a tax-option corporation becomes liable for tax for a taxable year that begins on or after January 1, 1998, the corporation may offset the credit against the tax due, with any remaining credit computed for a taxable year that begins on or after January 1, 1998, passing through to the shareholders.
71.07(3s)(c)5.
5. If a corporation that is not a tax-option corporation has a carry-over credit from a taxable year that begins on or after January 1, 1998, and becomes a tax-option corporation before the credit carried over is used, the unused portion of the credit may be used by the tax-option corporation's shareholders on a prorated basis.
71.07(3s)(c)6.
6. If the shareholders of a tax-option corporation have carry-over credits and the corporation becomes a corporation other than a tax-option corporation after October 14, 1997, and before the credits carried over are used, the unused portion of the credits may be used by the corporation that is not a tax-option corporation.
71.07(3s)(c)7.
7. No credit may be claimed under this subsection for taxable years that begin after December 31, 2005. For credits that are claimed but unused under this subsection for taxable years that begin before January 1, 2006, up to 50 percent may be used in each of the following 2 taxable years if the taxpayer has $25,000 or less in unused credits as of January 1, 2006. For taxable years beginning after December 31, 2005, and before January 1, 2008, a taxpayer who has more than $25,000 in unused credits as of January 1, 2006, may deduct an amount in each year that is equal to 50 percent of the amount the taxpayer added back to income under s.
71.05 (6) (a) at the time that the taxpayer first claimed the credit or, with regard to credits passed through from a partnership, limited liability company, or tax-option corporation, 50 percent of the amount that the entity added back to its income and was included in the partner's, member's, or shareholder's Wisconsin net income at the time that the credit was first claimed.
71.07(3t)
(3t)
Manufacturing investment credit. 71.07(3t)(a)
(a)
Definition. In this subsection, “claimant" means a person who files a claim under this subsection.
71.07(3t)(b)
(b)
Credit. Subject to the limitations provided in this subsection and in s.
560.28, 2009 stats., for taxable years beginning after December 31, 2007, a claimant may claim as a credit, amortized over 15 taxable years starting with the taxable year beginning after December 31, 2007, against the tax imposed under s.
71.02, up to the amount of the tax, an amount equal to the claimant's unused credits under s.
71.07 (3s).
