SB720-SSA1,39
23Section 39
. 71.22 (4) (k) 3. of the statutes is amended to read:
SB720-SSA1,19,424
71.22
(4) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
25not include amendments to the federal Internal Revenue Code enacted after
1December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
211025, and 13543 of P.L.
115-97, sections 40307 and 40413 of P.L. 115-123, and
3section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
4116-94.
SB720-SSA1,40
5Section 40
. 71.22 (4) (L) 1. of the statutes is amended to read:
SB720-SSA1,19,106
71.22
(4) (L) 1. For taxable years beginning after December 31, 2017,
and
7before January 1, 2020, “Internal Revenue Code" means the federal Internal
8Revenue Code as amended to December 31, 2017, except as provided in subds. 2. and
93. and subject to subd. 4., and except as provided in sub. (4m) and ss. 71.26 (2) (b) and
10(3), 71.34 (1g), 71.42 (2), and 71.98.
SB720-SSA1,41
11Section 41
. 71.22 (4) (L) 3. of the statutes is amended to read:
SB720-SSA1,19,1812
71.22
(4) (L) 3. For purposes of this paragraph, “Internal Revenue Code" does
13not include amendments to the federal Internal Revenue Code enacted after
14December 31, 2017
, except that “Internal Revenue Code” includes sections 40307
15and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
16sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
171302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
18116-94, and section 2 (b) of P.L. 116-98.
SB720-SSA1,42
19Section 42
. 71.22 (4) (L) 4. of the statutes is amended to read:
SB720-SSA1,19,2520
71.22
(4) (L) 4. For purposes of this paragraph, the provisions of federal public
21laws that directly or indirectly affect the Internal Revenue Code, as defined in this
22paragraph, apply for Wisconsin purposes at the same time as for federal purposes
,
23except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
2413306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
25first apply for taxable years beginning after December 31, 2017.
SB720-SSA1,43
1Section
43. 71.22 (4) (m) of the statutes is created to read:
SB720-SSA1,20,52
71.22
(4) (m) 1. For taxable years beginning after December 31, 2019, “Internal
3Revenue Code" means the federal Internal Revenue Code as amended to December
431, 2019, except as provided in subds. 2. and 3. and subject to subd. 4., and except
5as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34 (1g), 71.42 (2), and 71.98.
SB720-SSA1,21,36
2. For purposes of this paragraph, “Internal Revenue Code" does not include
7the following provisions of federal public laws for taxable years beginning after
8December 31, 2019: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
9106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
10109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
11P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
12110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
1315351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
14312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
151501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
16111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
17111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
18411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
19P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
20171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
2113201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
2213801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
2314221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
2440306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
25sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
1(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
2115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
3117, 118, 130, 132, and 145 of division Q of P.L.
116-94.
SB720-SSA1,21,54
3. For purposes of this paragraph, “Internal Revenue Code" does not include
5amendments to the federal Internal Revenue Code enacted after December 31, 2019.
SB720-SSA1,21,136
4. For purposes of this paragraph, the provisions of federal public laws that
7directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
8apply for Wisconsin purposes at the same time as for federal purposes, except that
9changes made by section 13516 of P.L.
115-97, sections 20101, 20102, 20104, 20201,
1040201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116
11of P.L.
115-123, section 101 (a), (b), and (h) of division U of P.L.
115-141, section 1122
12of P.L.
116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L.
116-94, and
13section 2 of P.L.
116-98 apply for taxable years beginning after December 31, 2019.
SB720-SSA1,44
14Section 44
. 71.22 (4m) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
SB720-SSA1,45
15Section 45
. 71.22 (4m) (j) 3. m. of the statutes is created to read:
SB720-SSA1,21,1716
71.22
(4m) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q) and 104 (a) of division
17U of P.L.
115-141.
SB720-SSA1,46
18Section 46
. 71.22 (4m) (j) 3. n. of the statutes is created to read:
SB720-SSA1,21,2019
71.22
(4m) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
20of division O of P.L.
116-94.
SB720-SSA1,47
21Section 47
. 71.22 (4m) (k) 3. of the statutes is amended to read:
SB720-SSA1,22,222
71.22
(4m) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
23not include amendments to the federal Internal Revenue Code enacted after
24December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
2511025, and 13543 of P.L.
115-97, sections 40307 and 40413 of P.L. 115-123, and
1section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
2116-94.
SB720-SSA1,48
3Section 48
. 71.22 (4m) (L) 1. of the statutes is amended to read:
SB720-SSA1,22,84
71.22
(4m) (L) 1. For taxable years beginning after December 31, 2017,
and
5before January 1, 2020, “Internal Revenue Code", for corporations that are subject
6to a tax on unrelated business income under s. 71.26 (1) (a), means the federal
7Internal Revenue Code as amended to December 31, 2017, except as provided in
8subds. 2. and 3. and s. 71.98 and subject to subd. 4.
SB720-SSA1,49
9Section 49
. 71.22 (4m) (L) 3. of the statutes is amended to read:
SB720-SSA1,22,1610
71.22
(4m) (L) 3. For purposes of this paragraph, “Internal Revenue Code" does
11not include amendments to the federal Internal Revenue Code enacted after
12December 31, 2017
, except that “Internal Revenue Code” includes sections 40307
13and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
14sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
151302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
16116-94, and section 2 (b) of P.L. 116-98.
SB720-SSA1,50
17Section 50
. 71.22 (4m) (L) 4. of the statutes is amended to read:
SB720-SSA1,22,2318
71.22
(4m) (L) 4. For purposes of this paragraph, the provisions of federal
19public laws that directly or indirectly affect the Internal Revenue Code, as defined
20in this paragraph, apply for Wisconsin purposes at the same time as for federal
21purposes
, except that changes made by P.L. 115-63 and sections 11026, 11027, 11028,
2213207, 13306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L.
23115-97 first apply for taxable years beginning after December 31, 2017.
SB720-SSA1,51
24Section 51
. 71.22 (4m) (m) of the statutes is created to read:
SB720-SSA1,23,5
171.22
(4m) (m) 1. For taxable years beginning after December 31, 2019,
2“Internal Revenue Code," for corporations that are subject to a tax on unrelated
3business income under s. 71.26 (1) (a), means the federal Internal Revenue Code as
4amended to December 31, 2018, except as provided in subds. 2. and 3. and s. 71.98
5and subject to subd. 4.
SB720-SSA1,24,36
2. For purposes of this paragraph, “Internal Revenue Code" does not include
7the following provisions of federal public laws for taxable years beginning after
8December 31, 2019: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
9106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
10109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
11P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
12110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
1315351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
14312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
151501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
16111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
17111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
18411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
19P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
20171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
2113201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
2213801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
2314221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
2440306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
25sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
1(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
2115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
3117, 118, 130, 132, and 145 of division Q of P.L.
116-94.
SB720-SSA1,24,54
3. For purposes of this paragraph, “Internal Revenue Code" does not include
5amendments to the federal Internal Revenue Code enacted after December 31, 2019.
SB720-SSA1,24,136
4. For purposes of this paragraph, the provisions of federal public laws that
7directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
8apply for Wisconsin purposes at the same time as for federal purposes, except that
9changes made by section 13516 of P.L.
115-97, sections 20101, 20102, 20104, 20201,
1040201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116
11of P.L.
115-123, section 101 (a), (b), and (h) of division U of P.L.
115-141, section 1122
12of P.L.
116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L.
116-94, and
13section 2 of P.L.
116-98 apply for taxable years beginning after December 31, 2019.
SB720-SSA1,52
14Section 52
. 71.22 (5g) of the statutes is created to read:
SB720-SSA1,24,1615
71.22
(5g) For purposes of s. 71.22 (4) (b) and (4m) (b), 2013 stats., “Internal
16Revenue Code" includes section 109 of division U of P.L.
115-141.
SB720-SSA1,53
17Section 53
. 71.26 (2) (b) 3., 4., 5., 6., 7., 8. and 9. of the statutes are repealed.
SB720-SSA1,54
18Section 54
. 71.26 (2) (b) 10. d. of the statutes is amended to read:
SB720-SSA1,25,319
71.26
(2) (b) 10. d. For purposes of subd. 10. a., “Internal Revenue Code" does
20not include amendments to the federal Internal Revenue Code enacted after
21December 31, 2013, except that “Internal Revenue Code" includes the provisions of
22P.L.
113-97, P.L.
113-159, P.L.
113-168, section 302901 of P.L.
113-287, sections 171,
23172, and 201 to 221 of P.L.
113-295, sections 102, 105, and 207 of division B of P.L.
24113-295, P.L.
114-14, P.L.
114-26, section 2004 of P.L.
114-41, sections 503 and 504
25of P.L.
114-74, sections 103, 104, 124, 168, 184, 185, 190, 204, 303, 306, 336, and 341
1of division Q of P.L.
114-113,
and P.L.
114-239, sections 101 (m), (n), (o), (p), and (q)
2and 104 (a) of division U of P.L. 115-141, and section 102 of division M and sections
3110, 111, and 116 (b) of division O of P.L. 116-94.
SB720-SSA1,55
4Section 55
. 71.26 (2) (b) 11. d. of the statutes is amended to read:
SB720-SSA1,25,105
71.26
(2) (b) 11. d. For purposes of subd. 11. a., “Internal Revenue Code" does
6not include amendments to the federal Internal Revenue Code enacted after
7December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
811025, and 13543 of P.L.
115-97, sections 40307 and 40413 of P.L. 115-123, and
9section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
10116-94.
SB720-SSA1,56
11Section 56
. 71.26 (2) (b) 12. a. of the statutes is amended to read:
SB720-SSA1,25,2012
71.26
(2) (b) 12. a. For taxable years beginning after December 31, 2017,
and
13before January 1, 2020, for a corporation, conduit, or common law trust which
14qualifies as a regulated investment company, real estate mortgage investment
15conduit, real estate investment trust, or financial asset securitization investment
16trust under the Internal Revenue Code, “net income" means the federal regulated
17investment company taxable income, federal real estate mortgage investment
18conduit taxable income, federal real estate investment trust or financial asset
19securitization investment trust taxable income of the corporation, conduit, or trust
20as determined under the Internal Revenue Code.
SB720-SSA1,57
21Section 57
. 71.26 (2) (b) 12. d. of the statutes is amended to read:
SB720-SSA1,26,322
71.26
(2) (b) 12. d. For purposes of subd. 12. a., “Internal Revenue Code" does
23not include amendments to the federal Internal Revenue Code enacted after
24December 31, 2017
, except that “Internal Revenue Code” includes sections 40307
25and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
1sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
21302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
3116-94, and section 2 (b) of P.L. 116-98.
SB720-SSA1,58
4Section 58
. 71.26 (2) (b) 12. e. of the statutes is amended to read:
SB720-SSA1,26,105
71.26
(2) (b) 12. e. For purposes of subd. 12. a., the provisions of federal public
6laws that directly or indirectly affect the Internal Revenue Code, as defined in this
7subdivision, apply for Wisconsin purposes at the same time as for federal purposes
,
8except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
913306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
10first apply for taxable years beginning after December 31, 2017.
SB720-SSA1,59
11Section 59
. 71.26 (2) (b) 13. of the statutes is created to read:
SB720-SSA1,26,1912
71.26
(2) (b) 13. a. For taxable years beginning after December 31, 2019, for a
13corporation, conduit, or common law trust which qualifies as a regulated investment
14company, real estate mortgage investment conduit, real estate investment trust, or
15financial asset securitization investment trust under the Internal Revenue Code,
16“net income" means the federal regulated investment company taxable income,
17federal real estate mortgage investment conduit taxable income, federal real estate
18investment trust or financial asset securitization investment trust taxable income
19of the corporation, conduit, or trust as determined under the Internal Revenue Code.
SB720-SSA1,26,2220
b. For purposes of subd. 13. a., “Internal Revenue Code" means the federal
21Internal Revenue Code as amended to December 31, 2019, except as provided in
22subd. 13. c. and d. and s. 71.98 and subject to subd. 13. e.
SB720-SSA1,27,2023
c. For purposes of subd. 13. a., “Internal Revenue Code" does not include the
24following provisions of federal public laws for taxable years beginning after
25December 31, 2019: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
1106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
2109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
3P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
4110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
515351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
6312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
71501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
8111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
9111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
10411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
11P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
12171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
1313201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
1413801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
1514221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
1640306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
17sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
18(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
19115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
20117, 118, 130, 132, and 145 of division Q of P.L.
116-94.
SB720-SSA1,27,2221
d. For purposes of subd. 13. a., “Internal Revenue Code" does not include
22amendments to the federal Internal Revenue Code enacted after December 31, 2019.
SB720-SSA1,28,523
e. For purposes of subd. 13. a., the provisions of federal public laws that directly
24or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply
25for Wisconsin purposes at the same time as for federal purposes, except that changes
1made by section 13516 of P.L.
115-97, sections 20101, 20102, 20104, 20201, 40201,
240202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116 of P.L.
3115-123, section 101 (a), (b), and (h) of division U of P.L.
115-141, section 1122 of P.L.
4116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L.
116-94, and section
52 of P.L.
116-98 apply for taxable years beginning after December 31, 2019.
SB720-SSA1,60
6Section 60
. 71.26 (2) (b) 14. of the statutes is created to read:
SB720-SSA1,28,87
71.26
(2) (b) 14. For purposes of s. 71.26 (2) (b) 2., 2013 stats., “Internal Revenue
8Code" includes section 109 of division U of P.L.
115-141.
SB720-SSA1,61
9Section
61. 71.28 (6) (h) of the statutes is amended to read:
SB720-SSA1,28,2110
71.28
(6) (h) Any person, including a nonprofit entity described in section
501 11(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
12par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
13imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
14transfer, and submits with the notification a copy of the transfer documents, and the
15department certifies ownership of the credit with each transfer.
The transferor may
16file a claim for more than one taxable year on a form prescribed by the department
17to compute all years of the credit under par. (a) 2m. or 3., at the time of the transfer
18request. The transferee may first use the credit to offset tax in the taxable year of the
19transferor in which the transfer occurs, and may use the credit only to offset tax in
20taxable years otherwise allowed to be claimed and carried forward by the original
21claimant.
SB720-SSA1,62
22Section 62
. 71.34 (1g) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
SB720-SSA1,63
23Section 63
. 71.34 (1g) (j) 3. m. of the statutes is created to read:
SB720-SSA1,28,2524
71.34
(1g) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q) and 104 (a) of division
25U of P.L.
115-141.
SB720-SSA1,64
1Section
64. 71.34 (1g) (j) 3. n. of the statutes is created to read:
SB720-SSA1,29,32
71.34
(1g) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
3of division O of P.L.
116-94.
SB720-SSA1,65
4Section 65
. 71.34 (1g) (k) 3. of the statutes is amended to read:
SB720-SSA1,29,105
71.34
(1g) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
6not include amendments to the federal Internal Revenue Code enacted after
7December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
811025, and 13543 of P.L.
115-97, sections 40307 and 40413 of P.L. 115-123, and
9section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
10116-94.
SB720-SSA1,66
11Section 66
. 71.34 (1g) (L) 1. of the statutes is amended to read:
SB720-SSA1,29,1512
71.34
(1g) (L) 1. For taxable years beginning after December 31, 2017,
and
13before January 1, 2020, for tax option corporations, “Internal Revenue Code" means
14the federal Internal Revenue Code as amended to December 31, 2017, except as
15provided in subds. 2., 3., and 5. and s. 71.98 and subject to subd. 4.
SB720-SSA1,67
16Section 67
. 71.34 (1g) (L) 3. of the statutes is amended to read:
SB720-SSA1,29,2317
71.34
(1g) (L) 3. For purposes of this paragraph, “Internal Revenue Code" does
18not include amendments to the federal Internal Revenue Code enacted after
19December 31, 2017
, except that “Internal Revenue Code” includes sections 40307
20and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
21sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
221302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
23116-94, and section 2 (b) of P.L. 116-98.
SB720-SSA1,68
24Section 68
. 71.34 (1g) (L) 4. of the statutes is amended to read:
SB720-SSA1,30,6
171.34
(1g) (L) 4. For purposes of this paragraph, the provisions of federal public
2laws that directly or indirectly affect the Internal Revenue Code, as defined in this
3paragraph, apply for Wisconsin purposes at the same time as for federal purposes
,
4except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
513306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
6first apply for taxable years beginning after December 31, 2017.
SB720-SSA1,69
7Section 69
. 71.34 (1g) (m) of the statutes is created to read:
SB720-SSA1,30,118
71.34
(1g) (m) 1. For taxable years beginning after December 31, 2019, for tax
9option corporations, “Internal Revenue Code" means the federal Internal Revenue
10Code as amended to December 31, 2019, except as provided in subds. 2., 3., and 5. and
11s. 71.98 and subject to subd. 4.
SB720-SSA1,31,912
2. For purposes of this paragraph, “Internal Revenue Code" does not include
13the following provisions of federal public laws for taxable years beginning after
14December 31, 2019: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
15106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
16109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
17P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
18110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
1915351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
20312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
211501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
22111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
23111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
24411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
25P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
1171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
213201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
313801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
414221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
540306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
6sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
7(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
8115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
9117, 118, 130, 132, and 145 of division Q of P.L.
116-94.
SB720-SSA1,31,1110
3. For purposes of this paragraph, “Internal Revenue Code" does not include
11amendments to the federal Internal Revenue Code enacted after December 31, 2019.
SB720-SSA1,31,1912
4. For purposes of this paragraph, the provisions of federal public laws that
13directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
14apply for Wisconsin purposes at the same time as for federal purposes, except that
15changes made by section 13516 of P.L.
115-97, sections 20101, 20102, 20104, 20201,
1640201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116
17of P.L.
115-123, section 101 (a), (b), and (h) of division U of P.L.
115-141, section 1122
18of P.L.
116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L.
116-94, and
19section 2 of P.L.
116-98 apply for taxable years beginning after December 31, 2019.
SB720-SSA1,31,23205. For purposes of this paragraph, section
1366 (f) of the Internal Revenue Code
21(relating to pass-through of items to shareholders) is modified by substituting the
22tax under s. 71.35 for the taxes under sections
1374 and
1375 of the Internal Revenue
23Code.
SB720-SSA1,70
24Section 70
. 71.34 (1u) of the statutes is created to read:
SB720-SSA1,32,2
171.34
(1u) For purposes of s. 71.34 (1g) (b), 2013 stats., “Internal Revenue
2Code" includes section 109 of division U of P.L.
115-141.
SB720-SSA1,71
3Section 71
. 71.42 (2) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
SB720-SSA1,72
4Section 72
. 71.42 (2) (j) 3. m. of the statutes is created to read:
SB720-SSA1,32,65
71.42
(2) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q) and 104 (a) of division
6U of P.L.
115-141.
SB720-SSA1,73
7Section 73
. 71.42 (2) (j) 3. n. of the statutes is created to read:
SB720-SSA1,32,98
71.42
(2) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
9of division O of P.L.
116-94.
SB720-SSA1,74
10Section 74
. 71.42 (2) (k) 3. of the statutes is amended to read:
SB720-SSA1,32,1611
71.42
(2) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
12not include amendments to the federal Internal Revenue Code enacted after
13December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
1411025, and 13543 of P.L.
115-97, sections 40307 and 40413 of P.L. 115-123, and
15section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
16116-94.
SB720-SSA1,75
17Section 75
. 71.42 (2) (L) 1. of the statutes is amended to read:
SB720-SSA1,32,2118
71.42
(2) (L) 1. For taxable years beginning after December 31, 2017,
and
19before January 1, 2020, “Internal Revenue Code" means the federal Internal
20Revenue Code as amended to December 31, 2017, except as provided in subds. 2. to
214. and s. 71.98 and subject to subd. 5.
SB720-SSA1,76
22Section 76
. 71.42 (2) (L) 3. of the statutes is amended to read:
SB720-SSA1,33,423
71.42
(2) (L) 3. For purposes of this paragraph, “Internal Revenue Code" does
24not include amendments to the federal Internal Revenue Code enacted after
25December 31, 2017
, except that “Internal Revenue Code” includes sections 40307
1and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
2sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
31302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
4116-94, and section 2 (b) of P.L. 116-98.
SB720-SSA1,77
5Section 77
. 71.42 (2) (L) 5. of the statutes is amended to read:
SB720-SSA1,33,116
71.42
(2) (L) 5. For purposes of this paragraph, the provisions of federal public
7laws that directly or indirectly affect the Internal Revenue Code, as defined in this
8paragraph, apply for Wisconsin purposes at the same time as for federal purposes
,
9except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
1013306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
11first apply for taxable years beginning after December 31, 2017.
SB720-SSA1,78
12Section 78
. 71.42 (2) (m) of the statutes is created to read: