71.07(2dx)(e)2.
2. The credit under this subsection may not be claimed by partnerships, limited liability companies, and tax-option corporations but the eligibility for, and the amount of, that credit shall be determined on the basis of their economic activity, not that of their shareholders, partners, or members. The corporation, partnership, or limited liability company shall compute the amount of credit that may be claimed by each of its shareholders, partners, or members and shall provide that information to each of its shareholders, partners, or members. That credit may be claimed by partners, members of limited liability companies, and shareholders of tax-option corporations in proportion to their ownership interests.
71.07(2dy)(a)
(a)
Definition. In this subsection, “claimant" means a person who files a claim under this subsection 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.
71.07(2dy)(b)
(b)
Filing claims. Subject to the limitations under this subsection and ss.
238.301 to
238.306 or 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 tax imposed under s.
71.02, up to the amount of the tax, the amount authorized for the claimant under s.
238.303 or s.
560.703, 2009 stats.
71.07(2dy)(c)1.1. No credit may be allowed under this subsection unless the claimant includes with the claimant's return 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.
71.07(2dy)(c)2.
2. 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 authorization to claim tax benefits under s.
238.303 or s.
560.703, 2009 stats. 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(2dy)(d)2.
2. If a claimant's certification is revoked under s.
238.305 or s.
560.705, 2009 stats., or if a claimant becomes ineligible for tax benefits under s.
238.302 or s.
560.702, 2009 stats., the claimant may not claim credits under this subsection for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the claimant becomes ineligible for tax benefits; or succeeding taxable years and the claimant may not carry over unused credits from previous years to offset the tax imposed under s.
71.02 for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the claimant becomes ineligible for tax benefits; or succeeding taxable years.
71.07(3)
(3)
Farmland preservation credit. The farmland preservation credit under subch.
IX may be claimed against taxes otherwise due.
71.07(3g)(a)1.
1. The amount of real and personal property taxes imposed under s.
70.01 that the business paid in the taxable year.
71.07(3g)(a)2.
2. Ten percent of the following amounts of capital investments that are made by the business in the technology zone in the year to which the claim relates:
71.07(3g)(a)2.a.
a. The purchase price of depreciable, tangible personal property.
71.07(3g)(a)2.b.
b. The amount expended to acquire, construct, rehabilitate, remodel, or repair real property in a technology zone.
71.07(3g)(a)3.
3. Fifteen percent of the amount that is spent for the first 12 months of wages for each job that is created in a technology zone after certification.
71.07(3g)(b)
(b) The department of revenue shall notify the department of commerce or the Wisconsin Economic Development Corporation of all claims under this subsection.
71.07(3g)(d)
(d) 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.
(a). 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(3g)(e)1.1. No amount described under par.
(a) 2. may be used in the calculation of a credit under this subsection if that amount is used in the calculation of any other credit under this chapter.
71.07(3g)(e)2.
2. The investments that relate to the amount described under par.
(a) 2. for which a claimant makes a claim under this subsection must be retained for use in the technology zone for the period during which the claimant's business is certified under s.
238.23 (3) or s.
560.96 (3), 2009 stats.
71.07(3g)(f)
(f) No credit may be allowed under this subsection unless the claimant includes with the claimant's return:
71.07(3g)(f)2.
2. A statement from the department of commerce or the Wisconsin Economic Development Corporation verifying the purchase price of the investment described under par.
(a) 2. and verifying that the investment fulfills the requirement under par.
(e) 2. 71.07(3h)
(3h)
Biodiesel fuel production credit. 71.07(3h)(a)2.
2. “Claimant" means a person who is engaged in the business of producing biodiesel fuel in this state and who files a claim under this subsection.
71.07(3h)(b)
(b)
Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2011, and before January 1, 2014, for a claimant who produces at least 2,500,000 gallons of biodiesel fuel in this state in the taxable year, a claimant may claim as a credit against the tax imposed under s.
71.02, up to the amount of the tax, an amount that is equal to the number of gallons of biodiesel fuel produced by the claimant in this state in the taxable year multiplied by 10 cents.
71.07(3h)(c)1.1. The maximum amount of the credit that a claimant may claim under this subsection in a taxable year is $1,000,000.
71.07(3h)(c)2.
2. 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 biodiesel fuel production, as described 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(3h)(d)2.
2. 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(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.
