71.47(8r)(c)1.1. A claimant may only claim the credit under this subsection for the first 3 years of any lease of the claimant's agricultural assets to a beginning farmer.
71.47(8r)(c)2.
2. Along with a claimant's income tax return, a claimant shall submit to the department a certificate of eligibility provided under s.
93.53 (5) (c).
71.47(8r)(c)3.
3. 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). 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.
71.47(8r)(d)2.
2. No credit may be claimed under this subsection for taxable years beginning after December 31, 2013.
71.47(9s)(a)1.
1. “Claimant" means a person who files a claim under this subsection.
71.47(9s)(a)2.
2. “Locates to this state" means moving either 51 percent or more of the workforce payroll of the business or at least $200,000 of wages, as defined in section
3121 of the Internal Revenue Code, paid to such workforce to Wisconsin during the first year to which a credit under this subsection relates.
71.47(9s)(b)
(b)
Filing claims. Subject to the limitations provided under this subsection, for taxable years beginning after December 31, 2010, and before January 1, 2014, for 2 consecutive taxable years beginning with the taxable year in which the claimant's business locates to this state from another state or another country and begins doing business in this state, a claimant may claim as a credit against the taxes imposed under s.
71.43, up to the amount of the taxes, the amount of the claimant's tax liability under this subchapter after applying all other allowable credits, deductions, and exclusions.
71.47(9s)(c)1.1. No person may claim a credit under this subsection if the person has done business in this state during any of the 2 taxable years preceding the first taxable year in which the person would otherwise be eligible to claim a credit under par.
(b).
71.47(9s)(c)2.
2. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection.
71.47(9s)(d)2.
2. The department shall promulgate rules to administer this subsection.
71.47 Cross-reference
Cross-reference: See also s.
Tax 2.957, Wis. adm. code.
71.47(9s)(d)3.
3. No credit may be claimed under this subsection for taxable years beginning after December 31, 2013, except that a claimant who is first eligible to claim a credit under this subsection for taxable years beginning after December 31, 2012, and before January 1, 2014, may claim the credit in the following taxable year.
71.47(10)
(10) Employee college savings account contribution credit. 71.47(10)(a)1.
1. “Claimant" means a person who files a claim under this subsection.
71.47(10)(a)1m.
1m. “College savings account" means a college savings account, as described in s.
224.50.
71.47(10)(b)
(b)
Filing claims. Subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s.
71.43, up to the amount of those taxes, for each employee of the claimant, an amount equal to the amount the claimant paid into a college savings account owned by the employee in the taxable year in which the contribution is made.
71.47(10)(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 the 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.
71.47(10)(c)2.
2. The maximum amount of the credit per employee that a claimant may claim under this subsection is an amount equal to 25 percent of the amount the claimant contributed to the employee's college savings account up to a maximum contribution equal to 25 percent of the maximum amount that an individual contributor may deduct under s.
71.05 (6) (b) 32. a. per beneficiary.