Tax 2.955 (3) (a) Income tax paid to Illinois, Indiana, Kentucky, or Michigan or Minnesota on personal service income earned in these states included under a reciprocity agreement.
SECTION 14. Tax 2.955 (4) (e) and (f) are created to read:
Tax 2.955 (4) (e) For a Wisconsin resident partner in a partnership or member of a limited liability company treated as a partnership:
1. If a Wisconsin resident partner or member files an individual income tax return with another state, attach a copy of the other state’s income tax return to the Wisconsin income tax return.
2. If the partnership or limited liability company treated as a partnership files a combined or composite return with another state on behalf of its partners or members who are nonresidents of that state and pays the tax on their proportionate share of the income earned there, attach to the Wisconsin income tax return either a copy of the Wisconsin schedule 3K−1 on which is shown the partner's or member's share of tax paid to that state, or a letter as provided in par. (f).
3. If the partnership or limited liability company treated as a partnership files a partnership income or franchise tax return with another state and pays tax on or measured by income earned there that is attributable to its partners or members who are nonresidents of that state, attach to the Wisconsin income tax return either a copy of the Wisconsin schedule 3K−1 on which is shown the partner's or member's share of tax paid to that state, or a letter as provided in par. (f).
(f) If the partnership or limited liability company treated as a partnership is not required to file a form 3, "Wisconsin Partnership Return," a Wisconsin resident partner or member shall attach to the Wisconsin income tax return a letter provided by the partnership or limited liability company treated as a partnership in lieu of Wisconsin schedule 3K−1 as required in pars. (e) 2. and 3. The letter shall include a schedule showing the partner's or member's proportionate share of the items of income taxable by that state, the adjusted gross income, and the net tax paid.
SECTION 15. Tax 3.01 (7) (b) 1. is amended to read:
Tax 3.01 (7) (b) 1. A taxpayer with related entity expenses shall disclose such expenses on or before the extended due date of the return for the year in which the expenses are reported. The department is authorized to disallow related entity expenses, even if the expenses meet the conditions in s. 71.80 (23) (a), Stats., and sub. (4) for failure to timely disclose such expenses. The form prescribed by the department to disclose related entity expenses shall not be accepted by the department if filed with an amended return after the extended due date. Failure to disclose or untimely disclosure by a taxpayer subjects the taxpayer and related entities to the provisions of sub. (5) (e) (f). SECTION 16. Tax 3.05 (3) is amended to read:
Tax 3.05 (3) Amount of deduction. Sections 71.05 (6) (b) 47m., 71.26 (1) (h), and 71.45 (1) (c), Stats., provide for an income and franchise tax deduction, prior to January 1, 2015, in an amount equal to the increase in the number of full−time equivalent employees employed by the taxpayer in this state during the taxable year, multiplied by $4,000 for a business with gross receipts of no greater than $5,000,000 in the taxable year or $2,000 for a business with gross receipts greater than $5,000,000 in the taxable year. SECTION 17. Tax 3.095 (4) (a) 22. is created to read:
Tax 3.095 (4) 22. Bonds or notes issued by a sponsoring municipality to assist a local exposition district created under subch. II of ch. 229, Stats. SECTION 18. Tax 9.69 (5) (intro.) is amended to read:
Tax 9.69 (5) (intro.) Recordkeeping requirements. Every tobacco product manufacturer required to file a schedule under sub. (3) shall maintain complete and accurate records to support the information reported on the required schedule. These records shall be maintained for a period of 4 5 years from the date of sale into Wisconsin and shall include all of the following:
SECTION 19. Effective date; general. This rule shall take effect on the first day of the month following publication in the Wisconsin Administrative Register as provided in s. 227.22 (2) (intro.), Stats.
