Amendment ASA1-AB75

AB75-ASA1,786,16 4. The maximum amount of all credits that a claimant may claim under this subsection for each accredited production is $10,000,000.

AB75-ASA1,786,21 5. The maximum amount of the credits that may be claimed under this subsection and sub. (5h) and ss. 71.28 (5f) and (5h) and 71.47 (5f) and (5h) in fiscal year 2009-10 is $1,500,000. The maximum amount of the credits that may be claimed under this subsection and sub. (5h) and ss. 71.28 (5f) and (5h) and 71.47 (5f) and (5h) in fiscal year 2010-11 is $1,500,000.

AB75-ASA1,787,3 6. No credit may be allowed under this subsection unless the claimant files an application with the department of commerce, at the time and in the manner prescribed by the department of commerce, and the department of commerce approves the application. The claimant shall submit a fee with the application in an amount equal to 2 percent of the claimant's budgeted production expenditures or to $5,000, whichever is less. The claimant shall submit a copy of the approved application with the claimant's return.

AB75-ASA1,787,11 7. 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 interest.

AB75-ASA1,787,13 (d) Administration. 1. Section 71.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credits under this subsection.

AB75-ASA1,787,18 2. If the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.02 or 71.08 or no tax is due under s. 71.02 or 71.08, 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) (bm).

AB75-ASA1, s. 1580x Section 1580x. 71.07 (5h) (a) 2. of the statutes is amended to read:

AB75-ASA1,787,23 71.07 (5h) (a) 2. "Film production company" means an entity that exclusively creates films, videos, electronic games, broadcast advertisement, or television productions, not including the productions described under s. 71.07 accredited productions, as defined in sub. (5f) (a) 1. a. to h.

AB75-ASA1, s. 1580yb Section 1580yb. 71.07 (5h) (b) (intro.) of the statutes is amended to read:

AB75-ASA1,788,7 71.07 (5h) (b) Filing claims. (intro.) Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2007 2008, a claimant may claim as a credit against the tax imposed under s. 71.02, up to the amount of the taxes, for the first 3 taxable years that the claimant is doing business in this state as a film production company, or 71.08 an amount that is equal to 15 percent of the following that the claimant paid in the taxable year to establish or operate a film production company in this state:

AB75-ASA1, s. 1580yc Section 1580yc. 71.07 (5h) (b) 1. of the statutes is amended to read:

AB75-ASA1,788,12 71.07 (5h) (b) 1. The purchase price of depreciable, tangible personal property and items, property, and goods under s. 77.52 (1) (b), (c), and (d), if the sale of the tangible personal property, items, property, or goods is sourced to this state under s. 77.522.

AB75-ASA1, s. 1580ye Section 1580ye. 71.07 (5h) (c) 1. of the statutes is amended to read:

AB75-ASA1,788,18 71.07 (5h) (c) 1. A claimant may claim the credit under par. (b) 1., if the tangible personal property, or item, property, or good under s. 77.52 (1) (b), (c), or (d), is purchased after December 31, 2007 2008, and the tangible personal property, item, property, or good is used for at least 50 percent of its use in the claimant's business as a film production company.

AB75-ASA1, s. 1580yf Section 1580yf. 71.07 (5h) (c) 2. of the statutes is amended to read:

AB75-ASA1,788,25 71.07 (5h) (c) 2. A claimant may claim the credit under par. (b) 2. for an amount expended to construct, rehabilitate, remodel, or repair real property, if the claimant began the physical work of construction, rehabilitation, remodeling, or repair, or any demolition or destruction in preparation for the physical work, after December 31, 2007 2008, and the completed project is placed in service after December 31, 2007 2008.

AB75-ASA1, s. 1580yg Section 1580yg. 71.07 (5h) (c) 3. of the statutes is amended to read:

AB75-ASA1,789,5 71.07 (5h) (c) 3. A claimant may claim the credit under par. (b) 2. for an amount expended to acquire real property, if the property is not previously owned property and if the claimant acquires the property after December 31, 2007 2008, and the completed project is placed in service after December 31, 2007 2008.

AB75-ASA1, s. 1580yh Section 1580yh. 71.07 (5h) (c) 4. of the statutes is amended to read:

AB75-ASA1,789,11 71.07 (5h) (c) 4. No claim may be allowed under this subsection unless the department of commerce certifies, in writing, that the credits claimed under this subsection are for expenses related to establishing or operating a film production company in this state and the claimant submits a copy of the certification with the claimant's return.

AB75-ASA1, s. 1580yj Section 1580yj. 71.07 (5h) (c) 4d. of the statutes is created to read:

AB75-ASA1,789,15 71.07 (5h) (c) 4d. The maximum amount of all credits that a claimant may claim under this subsection for each project for which expenses are certified under subd. 4. is $10,000,000.

AB75-ASA1, s. 1580yk Section 1580yk. 71.07 (5h) (c) 4m. of the statutes is created to read:

AB75-ASA1,789,21 71.07 (5h) (c) 4m. The maximum amount of the credits that may be claimed under this subsection and sub. (5f) and ss. 71.28 (5f) and (5h) and 71.47 (5f) and (5h) in fiscal year 2009-10 is $1,500,000. The maximum amount of the credits that may be claimed under this subsection and sub. (5f) and ss. 71.28 (5f) and (5h) and 71.47 (5f) and (5h) in fiscal year 2010-11 is $1,500,000.

AB75-ASA1, s. 1580yL Section 1580yL. 71.07 (5h) (d) of the statutes is renumbered 71.07 (5h) (d) 1. and amended to read:

AB75-ASA1,789,25 71.07 (5h) (d) 1. Section 71.28 (4) (e) to , (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credits under this subsection.

AB75-ASA1, s. 1580ym Section 1580ym. 71.07 (5h) (d) 2. of the statutes is created to read:

AB75-ASA1,790,7 71.07 (5h) (d) 2. If the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.02 or 71.08 or no tax is due under s. 71.02 or 71.08, 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) (bL).

AB75-ASA1, s. 1582 Section 1582. 71.07 (5i) (b) of the statutes is amended to read:

AB75-ASA1,790,15 71.07 (5i) (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2009 2011, a claimant may claim as a credit against the taxes imposed under s. ss. 71.02 and 71.08, up to the amount of those taxes, an amount equal to 50 percent of the amount the claimant paid in the taxable year for information technology hardware or software that is used to maintain medical records in electronic form, if the claimant is a health care provider, as defined in s. 146.81 (1) (a) to (p).

AB75-ASA1, s. 1583 Section 1583. 71.07 (5j) (b) of the statutes is amended to read:

AB75-ASA1,790,23 71.07 (5j) (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2007, and before January 1, 2018, a claimant may claim as a credit against the taxes imposed under s. ss. 71.02 and 71.08, up to the amount of the taxes, an amount that is equal to 25 percent of the amount that the claimant paid in the taxable year to install or retrofit pumps located in this state that dispense motor vehicle fuel consisting of at least 85 percent ethanol or at least 20 percent biodiesel fuel.

AB75-ASA1, s. 1583d Section 1583d. 71.07 (5k) (b) of the statutes is amended to read:

AB75-ASA1,791,6 71.07 (5k) (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after July 1, 2009 2011, a claimant may claim as a credit against the tax imposed under s. 71.02, up to the amount of those taxes, an amount equal to 5 percent of the amount the claimant paid in the taxable year to a community rehabilitation program to perform work for the claimant's business, pursuant to a contract.

AB75-ASA1, s. 1584 Section 1584. 71.07 (8r) of the statutes is created to read:

AB75-ASA1,791,9 71.07 (8r) Beginning farmer and farm asset owner tax credit. (a) Definitions. In this subsection:

AB75-ASA1,791,11 1. "Agricultural assets" means machinery, equipment, facilities, or livestock that is used in farming.

AB75-ASA1,791,13 2. "Beginning farmer" means a person who meets the conditions specified in s. 93.53 (2).

AB75-ASA1,791,15 3. "Claimant" means a beginning farmer who files a claim under this subsection or an established farmer who files a claim under this subsection.

AB75-ASA1,791,19 4. "Educational institution" means the Wisconsin Technical College System, the University of Wisconsin-Extension, the University of Wisconsin-Madison, or any other institution that is approved by the department of agriculture, trade and consumer protection under s. 93.53 (6) (a).

AB75-ASA1,791,21 5. "Established farmer" means a person who meets the conditions specified in s. 93.53 (3).

AB75-ASA1,791,23 6. "Farming" has the meaning given in section 464 (e) (1) of the Internal Revenue Code.

AB75-ASA1,791,25 7. "Financial management program" means a course in farm financial management that is offered by an educational institution.

AB75-ASA1,792,3 8. "Lease amount" is the amount of the cash payment paid by a beginning farmer to an established farmer each year for leasing the established farmer's agricultural assets.

AB75-ASA1,792,12 (b) Filing claims. 1. For taxable years beginning after December 31, 2010, and subject to the limitations provided in this subsection, a beginning farmer may claim as a credit against the tax imposed under s. 71.02 or 71.08, on a one-time basis, the amount paid by the beginning farmer to enroll in a financial management program in the year to which the claim relates. If the allowable amount of the claim exceeds the income taxes otherwise due on the beginning farmer's income, the amount of the claim not used as an offset against those taxes shall be certified by the department of revenue to the department of administration for payment to the claimant by check, share draft, or other draft from the appropriation under s. 20.835 (2) (en).

AB75-ASA1,792,21 2. For taxable years beginning after December 31, 2010, and subject to the limitations provided in this subsection, an established farmer may claim as a credit against the tax imposed under s. 71.02 or 71.08 15 percent of the lease amount received by the established farmer in the year to which the claim relates. If the allowable amount of the claim exceeds the income taxes otherwise due on the established farmer's income, the amount of the claim not used as an offset against those taxes shall be certified by the department of revenue to the department of administration for payment to the claimant by check, share draft, or other draft from the appropriation under s. 20.835 (2) (en).

AB75-ASA1,792,24 (c) Limitations. 1. An established farmer may only claim the credit under this subsection for the first 3 years of any lease of the established farmer's agricultural assets to a beginning farmer.

AB75-ASA1,793,2 2. No credit may be allowed under this subsection unless it is claimed within the time period under s. 71.75 (2).

AB75-ASA1,793,4 3. Along with a claimant's income tax return, a claimant shall submit to the department certificate of eligibility provided under s. 93.53 (5) (b) or (c).

AB75-ASA1,793,6 4. No credit may be claimed under this subsection by a part-year resident or a nonresident of this state.

AB75-ASA1,793,11 5. The right to file a claim under this subsection is personal to the claimant and does not survive the claimant's death. When a claimant dies after having filed a timely claim the amount thereof shall be disbursed under s. 71.75 (10). The right to file a claim under this subsection may be exercised on behalf of a living claimant by the claimant's legal guardian or attorney-in-fact.

AB75-ASA1,793,13 6. The maximum credit that a beginning farmer may claim under this subsection is $500.

AB75-ASA1,793,21 7. 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 the amounts received by the entities under par. (b) 2. 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.

AB75-ASA1,793,23 (d) Administration. Subsection (9e) (d), to the extent that it applies to the credit under that subsection, applies to the credit under this subsection.

AB75-ASA1, s. 1585 Section 1585 . 71.07 (9m) (c) of the statutes is amended to read:

AB75-ASA1,794,6 71.07 (9m) (c) No person may claim the credit under this subsection unless the claimant includes with the claimant's return evidence that the rehabilitation was approved recommended by the state historic preservation officer for approval by the secretary of the interior under 36 CFR 67.6 before the physical work of construction, or destruction in preparation for construction, began and that the rehabilitation was approved by the secretary of the interior under 36 CFR 67.6.

AB75-ASA1, s. 1586 Section 1586. 71.07 (9m) (cm) of the statutes is created to read:

AB75-ASA1,794,9 71.07 (9m) (cm) Any credit claimed under this subsection for Wisconsin purposes shall be claimed at the same time as for federal purposes.

AB75-ASA1, s. 1587 Section 1587. 71.07 (9m) (f) of the statutes is amended to read:

AB75-ASA1,795,10 71.07 (9m) (f) A partnership, limited liability company , or tax-option corporation may not claim the credit under this subsection. The individual partners of a partnership, members in of a limited liability company, or shareholders in a tax-option corporation may claim the credit under this subsection based on eligible costs incurred by the partnership, company, or tax-option corporation, in proportion to the ownership interest of each partner, member or shareholder. The partnership, limited liability company, or tax-option corporation shall calculate the amount of the credit which may be claimed by each partner, member, or shareholder and shall provide that information to the partner, member, or shareholder. For shareholders of a tax-option corporation, the credit may be allocated in proportion to the ownership interest of each shareholder. Credits computed by a partnership or limited liability company may be claimed in proportion to the ownership interests of the partners or members or allocated to partners or members as provided in a written agreement among the partners or members that is entered into no later than the last day of the taxable year of the partnership or limited liability company, for which the credit is claimed. For a partnership or limited liability company that places property in service after June 29, 2008, and before January 1, 2009, the credit attributable to such property may be allocated, at the election of the partnership or limited liability company, to partners or members for a taxable year of the partnership or limited liability company that ends after June 29, 2008, and before January 1, 2010. Any partner or member who claims the credit as provided under this paragraph shall attach a copy of the agreement, if applicable, to the tax return on which the credit is claimed. A person claiming the credit as provided under this paragraph is solely responsible for any tax liability arising from a dispute with the department of revenue related to claiming the credit.

AB75-ASA1, s. 1588 Section 1588. 71.07 (9m) (g) of the statutes is created to read:

AB75-ASA1,795,15 71.07 (9m) (g) 1. If a person who claims the credit under this subsection elects to claim the credit based on claiming amounts for expenditures as the expenditures are paid, rather than when the rehabilitation work is completed, the person shall file an election form with the department, in the manner prescribed by the department.

AB75-ASA1,795,20 2. Notwithstanding s. 71.77, the department may adjust or disallow the credit claimed under this subsection within 4 years after the date that the state historical society notifies the department that the expenditures for which the credit was claimed do not comply with the standards for certification promulgated under s. 44.02 (24).

AB75-ASA1, s. 1589b Section 1589b. 71.08 (1) (intro.) of the statutes, as affected by 2009 Wisconsin Act 2, is amended to read:

AB75-ASA1,796,7 71.08 (1) Imposition. (intro.) If the tax imposed on a natural person, married couple filing jointly, trust, or estate under s. 71.02, not considering the credits under ss. 71.07 (1), (2dd), (2de), (2di), (2dj), (2dL), (2dr), (2ds), (2dx), (2dy), (2fd), (3m), (3n), (3p), (3r), (3s), (3t), (3w), (5b), (5d), (5e), (5f), (5h), (5i), (5j), (6), (6e), (8r), and (9e), 71.28 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1dy), (1fd), (2m), (3), (3n), (3t), and (3w), and 71.47 (1dd), (1de), (1di), (1dj), (1dL), (1ds), (1dx), (1dy), (1fd), (2m), (3), (3n), (3t), and (3w), and subchs. 71.57 to 71.61, and 71.613 and subch. VIII and IX and payments to other states under s. 71.07 (7), is less than the tax under this section, there is imposed on that natural person, married couple filing jointly, trust or estate, instead of the tax under s. 71.02, an alternative minimum tax computed as follows:

AB75-ASA1, s. 1590 Section 1590. 71.09 (11) (e) of the statutes is created to read:

AB75-ASA1,796,11 71.09 (11) (e) For taxable years beginning after December 31, 2008, the taxpayer qualifies for a federal extension of time to file under 26 USC 7508A due to a presidentially declared disaster or terroristic or military action.

AB75-ASA1, s. 1591 Section 1591. 71.09 (11) (f) of the statutes is created to read:

AB75-ASA1,796,15 71.09 (11) (f) The taxpayer has underpaid the taxpayer's estimated taxes due to the change in brackets under s. 71.06 (1p) (e) and (2) (g) 5. and (h) 5. This paragraph applies only in the first taxable year to which these bracket changes apply.

AB75-ASA1, s. 1591v Section 1591v. 71.10 (4) (en) of the statutes is repealed.

AB75-ASA1, s. 1591w Section 1591w. 71.10 (4) (ga) of the statutes is repealed.

AB75-ASA1, s. 1593b Section 1593b. 71.10 (4) (i) of the statutes, as affected by 2009 Wisconsin Act 2, is amended to read:

AB75-ASA1,797,6 71.10 (4) (i) The total of claim of right credit under s. 71.07 (1), farmland preservation credit under subch. IX ss. 71.57 to 71.61, farmland preservation credit, 2010 and beyond under s. 71.613, homestead credit under subch. VIII, farmland tax relief credit under s. 71.07 (3m), farmers' drought property tax credit under s. 71.07 (2fd), dairy manufacturing facility investment credit under s. 71.07 (3p), jobs tax credit under s. 71.07 (3q), meat processing facility investment credit under s. 71.07 (3r), film production services credit under s. 71.07 (5f) (b) 2., film production company investment credit under s. 71.07 (5h), veterans and surviving spouses property tax credit under s. 71.07 (6e), enterprise zone jobs credit under s. 71.07 (3w), beginning farmer and farm asset owner tax credit under s. 71.07 (8r), earned income tax credit under s. 71.07 (9e), estimated tax payments under s. 71.09, and taxes withheld under subch. X.

AB75-ASA1, s. 1594 Section 1594. 71.13 (1m) of the statutes is created to read:

AB75-ASA1,797,13 71.13 (1m) Schedules to beneficiaries. Every fiduciary who is required to file a return under sub. (1) shall, on or before the due date of the return, including extensions, provide a schedule to each beneficiary whose share of income, deductions, credits, or other items of the fiduciary may affect the beneficiary's tax liability under this chapter. The schedule shall separately indicate the beneficiary's share of each item.

AB75-ASA1, s. 1595 Section 1595. 71.20 (1m) of the statutes is created to read:

AB75-ASA1,797,19 71.20 (1m) Every partnership that is required to file a return under sub. (1) shall, on or before the due date of the return, including extensions, provide a schedule to each partner whose share of income, deductions, credits, or other items of the partnership may affect the partner's tax liability under this chapter. The schedule shall separately indicate the partner's share of each item.

AB75-ASA1, s. 1596 Section 1596. 71.20 (3) of the statutes is created to read:

AB75-ASA1,797,23 71.20 (3) Any extension granted by law or by the Internal Revenue Service for the filing of the federal return that corresponds to the return required under sub. (1) extends the time for filing under this section.

AB75-ASA1, s. 1597 Section 1597. 71.21 (3) of the statutes is amended to read:

AB75-ASA1,798,2 71.21 (3) The credits under s. 71.28 (4), (4m), and (5) may not be claimed by a partnership or by partners, including partners of a publicly traded partnership.

AB75-ASA1, s. 1598d Section 1598d. 71.21 (4) of the statutes, as affected by 2009 Wisconsin Act 2, is amended to read:

AB75-ASA1,798,8 71.21 (4) Credits computed by a partnership under s. 71.07 (2dd), (2de), (2di), (2dj), (2dL), (2dm), (2ds), (2dx), (2dy), (3g), (3h), (3n), (3p), (3q), (3r), (3s), (3t), (3w), (5e), (5f), (5g), (5h), (5i), (5j), and (5k), and (8r) and passed through to partners shall be added to the partnership's income.

AB75-ASA1, s. 1599 Section 1599. 71.22 (1bd) of the statutes is created to read:

AB75-ASA1,798,13 71.22 (1bd) "Air carrier" means a person who provides or offers to provide air transportation, if, during the taxable year, 51 percent or more of the person's business consists of providing air transportation. "Air carrier" does not include an air freight forwarder or aircraft lessor.

AB75-ASA1, s. 1599d Section 1599d. 71.22 (1r) of the statutes, as affected by 2009 Wisconsin Act 2, is amended to read:

AB75-ASA1,799,6 71.22 (1r) "Doing business in this state" includes , except as prohibited under P.L. 86-272, issuing credit, debit, or travel and entertainment cards to customers in this state; regularly selling products or services of any kind or nature to customers in this state that receive the product or service in this state; regularly soliciting business from potential customers in this state; regularly performing services outside this state for which the benefits are received in this state; regularly engaging in transactions with customers in this state that involve intangible property and result in receipts flowing to the taxpayer from within this state; holding loans secured by real or tangible personal property located in this state; owning, directly or indirectly, a general or limited partnership interest in a partnership that does business in this state, regardless of the percentage of ownership; and owning, directly or indirectly, an interest in a limited liability company that does business in this state, regardless of the percentage of ownership, if the limited liability company is treated as a partnership for federal income tax purposes. A taxpayer doing business in this state for any part of the taxable year is considered to be doing business in this state for the entire taxable year.

AB75-ASA1, s. 1600 Section 1600. 71.22 (4) (n) of the statutes is repealed.

AB75-ASA1, s. 1601 Section 1601. 71.22 (4) (o) of the statutes is amended to read: