Chapter 71

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 50 percent of the amount the claimant contributed to the employee’s college savings account, not to exceed a maximum credit of $800. For taxable years beginning after December 31, 2024, the dollar amount in this subdivision shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2023, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year. The amount that is revised under this subdivision shall be rounded to the nearest multiple of $10 if the revised amount is not a multiple of $10 or, if the revised amount is a multiple of $5, such an amount shall be increased to the next higher multiple of $10. The department of revenue shall annually adjust the change in the dollar amount required under this subdivision and incorporate the change into the income tax forms and instructions.

71.47(10)(c)3. 3. A credit may be claimed under par. (b) only if, for federal income tax purposes, the compensation of the employee described in par. (b) is reported, or required to be reported, on a W-2 form issued by the claimant.

71.47(10)(d) (d) Administration. Section 71.28 (5b) (e) to (h), as it applies to the credit under s. 71.28 (5b), applies to the credit under this subsection.

71.47(11) (11) Community development entity investment credit.

71.47(11)(a) (a) Definitions. In this subsection:

71.47(11)(a)1. 1. “Applicable percentage” means 0 percent for the first 2 credit allowance dates and 10 percent for the next 5 credit allowance dates.

71.47(11)(a)2. 2. “CDFI fund” means the community development financial institutions fund of the U.S. treasury department or any agency or instrumentality of the federal government that administers the program authorized under section 45D of the Internal Revenue Code.

71.47(11)(a)3. 3. “Claimant” means a person who files a claim under this subsection.

71.47(11)(a)4. 4. “Credit allowance date” means, with respect to any qualified equity investment, any of the following dates:

71.47(11)(a)4.a. a. The date on which the investment is initially made.

71.47(11)(a)4.b. b. Each of the 6 anniversary dates of that date thereafter.

71.47(11)(a)5. 5. “Purchase price” means the amount paid to a qualified community development entity for a qualified equity investment.

71.47(11)(a)6. 6.

71.47(11)(a)6.a. a. “Qualified active low-income community business” has the meaning given in section 45D (d) (2) of the Internal Revenue Code except as provided in subd. 6. b. “Qualified active low-income community business” includes a business for the duration that it receives a qualified low-income community investment if the qualified community development entity reasonably expects at the time that it makes the qualified low-income community investment in the business that the business will continue to be considered a qualified active low-income community business under section 45D (d) (2) of the Internal Revenue Code throughout the entire period that it receives the qualified low-income community investment.

71.47(11)(a)6.b. b. “Qualified active low-income community business” does not include a business that derives or projects to derive 15 percent or more of its annual income from the rental or sale of real estate. This subd. 6. b. does not apply to a business that is controlled by or under common control with another business if the 2nd business does not derive or project to derive 15 percent or more of its annual income from the rental or sale of real estate and is the primary tenant of the real estate leased from the initial business.

71.47(11)(a)7. 7. “Qualified community development entity” has the meaning given in section 45D (c) of the Internal Revenue Code but includes only entities that have entered into, or that are controlled by an entity that has entered into, an allocation agreement with the CDFI fund with respect to tax credits authorized under section 45D of the Internal Revenue Code that includes this state within the service area set forth in that allocation agreement.

71.47(11)(a)8. 8. “Qualified equity investment” has the meaning given in s. 76.633 (1) (i).

71.47(11)(a)9. 9. “Qualified low-income community investment” means any capital or equity investment in, or loan to, a qualified active low-income community business.

71.47(11)(b) (b) Filing claims. Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2024, a claimant may claim as a credit against the tax imposed under s. 71.43, for a taxable year in which the insurer holds a qualified equity investment on the credit allowance date, an amount equal to the applicable percentage for that credit allowance date multiplied by the purchase price paid to the qualified community development entity for the qualified equity investment.

71.47(11)(c) (c) Limitations. No credit may be allowed under this subsection unless it is claimed within the period specified in s. 71.75 (2).

71.47(11)(d) (d) Administration. Section 76.633 (3), (4), (5), (6), (7), (8), and (9), as it applies to the credit under s. 76.633, applies to the credit under this subsection.

71.47(12) (12) Long-term care insurance assessment credit.

71.47(12)(a) (a) Definitions. In this subsection:

71.47(12)(a)1. 1. “Claimant” means a person who files a claim under this subsection.

71.47(12)(a)2. 2. “Disability insurer” means an insurer classified as a disability insurer under s. 646.51 (3) (bm) 2.

71.47(12)(b) (b) Filing claims. Subject to the limitations provided under this subsection, for taxable years beginning after December 31, 2026, a claimant may claim as a credit against the taxes imposed under s. 71.43, for the taxable year following the taxable year that a claimant pays an assessment under s. 646.51 (3) (bm), and for the immediately following 4 taxable years, an amount equal to 20 percent of the assessment under s. 646.51 (3) (bm) paid by the claimant.

71.47(12)(c) (c) Limitations.

71.47(12)(c)1. 1. A partnership, limited liability company, or tax-option corporation, including a partnership, limited liability company, or tax-option corporation that makes an election under s. 71.21 (6) (a) or 71.365 (4m) (a) to be taxed at the entity level, may claim the credit under par. (b).

71.47(12)(c)2. 2. A partnership’s partners, limited liability company’s members, and tax-option corporation’s shareholders may not claim the credit under par. (b).

71.47(12)(d) (d) Administration.

71.47(12)(d)1. 1. Section 71.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

71.47(12)(d)2. 2. If the claimant is a disability insurer and if the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.43 or no tax is due under s. 71.43, 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 to the claimant by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (de). Notwithstanding s. 71.82 (1) (b), no interest shall be added to amounts certified under this subdivision.

71.47 History History: 1987 a. 312, 411, 422; 1989 a. 31, 44, 56, 100, 336, 359; 1991 a. 39, 292, 315; 1993 a. 16, 112; 1995 a. 27 ss. 3407m to 3412m, 9116 (5); 1995 a. 209, 227, 417; 1997 a. 27, 41, 237, 299; 1999 a. 5, 9; 2001 a. 16; 2003 a. 72, 99, 135, 255, 267, 326; 2005 a. 25, 74, 97, 361, 387, 452, 479, 483, 487; 2007 a. 20, 96, 97, 100; 2009 a. 2, 11, 28, 180, 185, 265, 267, 269, 276, 294, 295, 332, 401; 2011 a. 3, 15, 32, 67, 212, 213, 232, 237; 2011 a. 260 ss. 80, 81; 2013 a. 20, 62, 116, 145; 2015 a. 55, 186, 237; 2017 a. 59, 176, 197; 2017 a. 365 s. 111; 2017 a. 366; 2019 a. 54; 2021 a. 1, 58, 127; 2021 a. 238 s. 44; 2023 a. 19, 138, 143, 148; 2025 a. 15, 78, 118, 129, 174, 183, 191, 220, 227, 236, 238, 242; s. 13.92 (2) (i); s. 35.17 correction in (5b) (g), (8s) (c) 2., (11) (a) 6. a.

71.48 71.48 Payments of estimated taxes. Sections 71.29 and 71.84 (2) shall apply to insurers subject to taxation under this chapter.

71.48 History History: 1987 a. 312.

71.49 71.49 General provisions.

71.49(1) (1) Computation order. Notwithstanding any other provisions in this chapter, corporations computing liability for the tax under s. 71.43 (1) or (2) shall make computations in the following order:

71.49(1)(a) (a) Tax under s. 71.43 (1) or (2).

71.49(1)(b) (b) Manufacturing sales tax credit under s. 71.47 (3).

Effective date note NOTE: Par. (b) is repealed eff. 1-1-32 by 2025 Wis. Act 118.

71.49(1)(bb) (bb) Manufacturing investment credit under s. 71.47 (3t).

Effective date note NOTE: Par. (bb) is repealed eff. 1-1-29 by 2025 Wis. Act 118.

71.49(1)(bm) (bm) Dairy investment credit under s. 71.47 (3n).

Effective date note NOTE: Par. (bm) is repealed eff. 1-1-35 by 2025 Wis. Act 118.

71.49(1)(bn) (bn) Community rehabilitation program credit under s. 71.47 (5k).

71.49(1)(bt) (bt) Community development entity investment credit under s. 71.47 (11).

71.49(1)(c) (c) Research credit under s. 71.47 (4), except as provided under par. (f).

71.49(1)(cd) (cd) Postsecondary education credit under s. 71.47 (5r).

Effective date note NOTE: Par. (cd) is repealed eff. 1-1-35 by 2025 Wis. Act 118.

71.49(1)(ce) (ce) Water consumption credit under s. 71.47 (5rm).

Effective date note NOTE: Par. (ce) is repealed eff. 1-1-35 by 2025 Wis. Act 118.

71.49(1)(cn) (cn) Biodiesel fuel production credit under s. 71.47 (3h).

Effective date note NOTE: Par. (cn) is repealed eff. 1-1-35 by 2025 Wis. Act 118.

71.49(1)(cs) (cs) Low-income housing credit under s. 71.47 (8b).

71.49(1)(ct) (ct) Additional employer-provided child care credit under s. 71.47 (8s).

71.49 Note NOTE: Par. (ct) was created as par. (cu) by 2025 Wis. Act 183 and renumbered to par. (ct) by the legislative reference bureau under s. 13.92 (1) (bm) 2.

71.49(1)(cu) (cu) Rail infrastructure modernization credit under s. 71.47 (8t).

71.49(1)(cv) (cv) Rail infrastructure maintenance credit under s. 71.47 (8v).

71.49(1)(d) (d) Research facilities credit under s. 71.47 (5).

Effective date note NOTE: Par. (d) is repealed eff. 1-1-35 by 2025 Wis. Act 118.

71.49(1)(dh) (dh) Long-term care insurance assessment credit under s. 71.47 (12), except as provided under par. (f).

71.49(1)(dm) (dm) Health Insurance Risk-Sharing Plan assessments credit under s. 71.47 (5g).

Effective date note NOTE: Par. (dm) is repealed eff. 1-1-36 by 2025 Wis. Act 118.

71.49(1)(dp) (dp) Veteran employment credit under s. 71.47 (6n).

Effective date note NOTE: Par. (dp) is repealed eff. 1-1-34 by 2025 Wis. Act 118.

71.49(1)(ds) (ds) Ethanol and biodiesel fuel pump credit under s. 71.47 (5j).

Effective date note NOTE: Par. (ds) is repealed eff. 1-1-35 by 2025 Wis. Act 118.

71.49(1)(e) (e) Community development finance credit under s. 71.47 (1).

Effective date note NOTE: Par. (e) is repealed eff. 1-1-35 by 2025 Wis. Act 118.

71.49(1)(ei) (ei) Development zone capital investment credit under s. 71.47 (1dm).

Effective date note NOTE: Par. (ei) is repealed eff. 1-1-43 by 2025 Wis. Act 118.

71.49(1)(eL) (eL) Development zones credit under s. 71.47 (1dx).

Effective date note NOTE: Par. (eL) is repealed eff. 1-1-43 by 2025 Wis. Act 118.

71.49(1)(ema) (ema) Economic development tax credit under s. 71.47 (1dy).

Effective date note NOTE: Par. (ema) is repealed eff. 1-1-37 by 2025 Wis. Act 118.

71.49(1)(eon) (eon) Technology zones credit under s. 71.47 (3g).

Effective date note NOTE: Par. (eon) is repealed eff. 1-1-41 by 2025 Wis. Act 118.

71.49(1)(eop) (eop) Early stage seed investment credit under s. 71.47 (5b).

71.49(1)(ep) (ep) Supplement to federal historic rehabilitation credit under s. 71.47 (6).

71.49(1)(epa) (epa) Electronic medical records credit under s. 71.47 (5i).

Effective date note NOTE: Par. (epa) is repealed eff. 1-1-35 by 2025 Wis. Act 118.

71.49(1)(epr) (epr) Film production company investment credit under s. 71.47 (5h).

71.49(1)(eps) (eps) Film production services credit under s. 71.47 (5f) (b) 1. and 3.

71.49(1)(ey) (ey) Employee college savings account contribution credit under s. 71.47 (10).

71.49(1)(f) (f) The total of farmland preservation credit under subch. IX, enterprise zone jobs credit under s. 71.47 (3w), business development credit under s. 71.47 (3y), research credit under s. 71.47 (4) (k) 1., film production services credit under s. 71.47 (5f) (b) 2., long-term care insurance assessment credit under s. 71.47 (12) (d) 2., and estimated tax payments under s. 71.48.

71.49 Note NOTE: Par. (f) is shown as amended by 2025 Wis. Acts 118 and 227 and as merged by the legislative reference bureau under s. 13.92 (2) (i).

71.49(2) (2) Elections under internal revenue code. Elections authorized by and made in accordance with the internal revenue code, except an election to file consolidated returns or to claim a credit against federal tax liability rather than a deduction from income, shall be deemed elections for the purpose of applying this chapter.

71.49(3) (3) Penalties. Unless specifically provided in this subchapter, the penalties under subch. XIII apply for failure to comply with this subchapter unless the context requires otherwise.