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71.28(3)(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. 71.26 (2) (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.
71.28 Cross-reference Cross-reference: See also s. Tax 2.11, Wis. adm. code.
71.28(3g) (3g)Technology zones credit.
71.28(3g)(a)(a) Subject to the limitations under this subsection and ss. 73.03 (35m) and 238.23 and s. 560.96, 2009 stats., a business that is certified under s. 238.23 (3) or s. 560.96 (3), 2009 stats., may claim as a credit against the taxes imposed under s. 71.23 an amount equal to the sum of the following, as established under s. 238.23 (3) (c) or s. 560.96 (3) (c), 2009 stats.:
71.28(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.
71.28(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:
71.28(3g)(a)2.a. a. The purchase price of depreciable, tangible personal property.
71.28(3g)(a)2.b. b. The amount expended to acquire, construct, rehabilitate, remodel, or repair real property in a technology zone.
71.28(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.
71.28(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.
71.28(3g)(c) (c) Subsection (4) (e), (f), (g), and (h), as it applies to the credit under sub. (4), applies to the credit under par. (a).
71.28(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.
71.28(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.
71.28(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.
71.28(3g)(f) (f) No credit may be allowed under this subsection unless the claimant includes with the claimant's return:
71.28(3g)(f)1. 1. A copy of the verification that the claimant's business is certified under s. 238.23 (3) or s. 560.96 (3), 2009 stats., and that the business has entered into an agreement under s. 238.23 (3) (d) or s. 560.96 (3) (d), 2009 stats.
71.28(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.
71.28(3h) (3h)Biodiesel fuel production credit.
71.28(3h)(a)(a) Definitions. In this subsection:
71.28(3h)(a)1. 1. "Biodiesel fuel" has the meaning given in s. 168.14 (2m) (a).
71.28(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.
71.28(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. 71.23, 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.
71.28(3h)(c) (c) Limitations.
71.28(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.
71.28(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.
71.28(3h)(d) (d) Administration.
71.28(3h)(d)1.1. Subsection (4) (e) to (h) as it applies to the credit under sub. (4), applies to the credit under this subsection.
71.28(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.
71.28(3n) (3n)Dairy and livestock farm investment credit.
71.28(3n)(a)(a) In this subsection:
71.28(3n)(a)1. 1. "Claimant" means a person who files a claim under this subsection.
71.28(3n)(a)1m. 1m. "Dairy animals" includes heifers raised as replacement dairy animals.
71.28(3n)(a)1p. 1p. "Dairy farm" includes a facility used to raise heifers as replacement dairy animals.
71.28(3n)(a)2. 2. "Dairy farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or acquiring 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:
71.28(3n)(a)2.a. a. Freestall barns.
71.28(3n)(a)2.b. b. Fences.
71.28(3n)(a)2.c. c. Watering facilities.
71.28(3n)(a)2.d. d. Feed storage and handling equipment.
71.28(3n)(a)2.e. e. Milking parlors.
71.28(3n)(a)2.f. f. Robotic equipment.
71.28(3n)(a)2.g. g. Scales.
71.28(3n)(a)2.h. h. Milk storage and cooling facilities.
71.28(3n)(a)2.i. i. Bulk tanks.
71.28(3n)(a)2.j. j. Manure pumping and storage facilities.
71.28(3n)(a)2.k. k. Digesters.
71.28(3n)(a)2.L. L. Equipment used to produce energy.
71.28(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.
71.28(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:
71.28(3n)(a)5.a. a. Birthing structures.
71.28(3n)(a)5.b. b. Rearing structures.
71.28(3n)(a)5.c. c. Feedlot structures.
71.28(3n)(a)5.d. d. Feed storage and handling equipment.
71.28(3n)(a)5.e. e. Fences.
71.28(3n)(a)5.f. f. Watering facilities.
71.28(3n)(a)5.g. g. Scales.
71.28(3n)(a)5.h. h. Manure pumping and storage facilities.
71.28(3n)(a)5.i. i. Digesters.
71.28(3n)(a)5.j. j. Equipment used to produce energy.
71.28(3n)(a)5.k. k. Fish hatchery buildings.
71.28(3n)(a)5.L. L. Fish processing buildings.
71.28(3n)(a)5.m. m. Fish rearing ponds.
71.28(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.
71.28(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.
71.28(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 s. 71.23 an amount equal to 10% 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.
71.28(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 s. 71.23 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.
71.28(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.
71.28(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.
71.28(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.
71.28(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).
71.28(3n)(f) (f) Subsection (4) (e), (f), (g), and (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.
71.28 Cross-reference Cross-reference: See also s. Tax 2.99, Wis. adm. code.
71.28(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.
71.28(3p) (3p)Dairy manufacturing facility investment credit.
71.28(3p)(a)(a) Definitions. In this subsection:
71.28(3p)(a)1. 1. "Claimant" means a person who files a claim under this subsection.
71.28(3p)(a)1m. 1m. "Dairy cooperative" means a business organized under ch. 185 or 193 for the purpose of obtaining or processing milk.
71.28(3p)(a)2. 2. "Dairy manufacturing" means processing milk into dairy products or processing dairy products for sale commercially.
71.28(3p)(a)3. 3. "Dairy manufacturing modernization or expansion" means constructing, improving, or acquiring buildings or facilities, or acquiring equipment, for dairy manufacturing, including the following, if used exclusively for dairy manufacturing and if acquired and placed in service in this state during taxable years that begin after December 31, 2006, and before January 1, 2014, or, in the case of dairy cooperatives, if acquired and placed in service in this state during taxable years that begin after December 31, 2008, and before January 1, 2014:
71.28(3p)(a)3.a. a. Building construction, including storage and warehouse facilities.
71.28(3p)(a)3.b. b. Building additions.
71.28(3p)(a)3.c. c. Upgrades to utilities, including water, electric, heat, and waste facilities.
71.28(3p)(a)3.d. d. Milk intake and storage equipment.
71.28(3p)(a)3.e. e. Processing and manufacturing equipment, including pipes, motors, pumps, valves, pasteurizers, homogenizers, vats, evaporators, dryers, concentrators, and churns.
71.28(3p)(a)3.f. f. Packaging and handling equipment, including sealing, bagging, boxing, labeling, conveying, and product movement equipment.
71.28(3p)(a)3.g. g. Warehouse equipment, including storage racks.
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2011-12 Wisconsin Statutes updated though 2013 Wis. Act 200 and all Supreme Court Orders entered before April 18, 2014. Published and certified under s. 35.18. Changes effective after April 18, 2014 are designated by NOTES. (Published 4-18-14)