AB881,15,1818
71.05
(6) (b) 23. (title) `Tuition unit.'
AB881,71
19Section
71. 71.05 (6) (b) 25. (title) of the statutes is created to read:
AB881,16,1
171.05
(6) (b) 25. (title) `Business assets and assets used in farming.'
AB881,72
2Section
72. 71.05 (6) (b) 26. (title) of the statutes is created to read:
AB881,16,33
71.05
(6) (b) 26. (title) `Long-term care insurance.'
AB881,73
4Section
73. 71.05 (6) (b) 28. (title) of the statutes is created to read:
AB881,16,55
71.05
(6) (b) 28. (title) `Tuition and fee expenses.'
AB881,74
6Section
74. 71.05 (6) (b) 29. (title) of the statutes is created to read:
AB881,16,77
71.05
(6) (b) 29. (title) `Repayment of income previously taxed.'
AB881,75
8Section
75. 71.05 (6) (b) 30. (title) of the statutes is created to read:
AB881,16,99
71.05
(6) (b) 30. (title) `Persecution settlements.'
AB881,76
10Section
76. 71.05 (6) (b) 31. (title) of the statutes is created to read:
AB881,16,1111
71.05
(6) (b) 31. (title) `College savings account earnings.'
AB881,77
12Section
77. 71.05 (6) (b) 32. (title) of the statutes is created to read:
AB881,16,1313
71.05
(6) (b) 32. (title) `College savings account contribution.'
AB881,78
14Section
78. 71.05 (6) (b) 32m. (title) of the statutes is created to read:
AB881,16,1515
71.05
(6) (b) 32m. (title) `College savings account rollover contribution.'
AB881,79
16Section
79. 71.05 (6) (b) 33. (title) of the statutes is created to read:
AB881,16,1717
71.05
(6) (b) 33. (title) `College tuition and expenses program contribution.'
AB881,80
18Section
80. 71.05 (6) (b) 34. (title) of the statutes is created to read:
AB881,16,1919
71.05
(6) (b) 34. (title) `Basic, special, and incentive pay of reservists.'
AB881,81
20Section
81
. 71.05 (6) (b) 35. (title) of the statutes is created to read:
AB881,16,2121
71.05
(6) (b) 35. (title) `Medical care insurance; employer pays no amount.'
AB881,82
22Section
82. 71.05 (6) (b) 36. of the statutes is repealed.
Note: This Section repeals a statute that is obsolete because it applies to taxable
years that begin before January 1, 2008.
AB881,83
23Section
83. 71.05 (6) (b) 37. of the statutes is repealed.
Note: This Section repeals a statute that is obsolete because it applies to taxable
years that begin before January 1, 2011.
AB881,84
1Section
84
. 71.05 (6) (b) 38. (title) of the statutes is created to read:
AB881,17,22
71.05
(6) (b) 38. (title) `Medical care insurance of unemployed.'
AB881,85
3Section
85. 71.05 (6) (b) 39. of the statutes is repealed.
Note: This Section repeals a statute that is obsolete because it applies to taxable
years that begin before January 1, 2011.
AB881,86
4Section
86. 71.05 (6) (b) 40. of the statutes is repealed.
Note: This Section repeals a statute that is obsolete because it applies to taxable
years that begin before January 1, 2012.
AB881,87
5Section
87. 71.05 (6) (b) 41. of the statutes is repealed.
Note: This Section repeals a statute that is obsolete because it applies to taxable
years that begin before January 1, 2013.
AB881,88
6Section
88
. 71.05 (6) (b) 42. (title) of the statutes is created to read:
AB881,17,77
71.05
(6) (b) 42. (title) `Medical care insurance; employer pays portion of cost.'
AB881,89
8Section
89
. 71.05 (6) (b) 43. (title) of the statutes is created to read:
AB881,17,99
71.05
(6) (b) 43. (title) `Household and dependent care expenses.'
AB881,90
10Section
90. 71.05 (6) (b) 44. of the statutes is repealed.
Note: This Section repeals a statute that is obsolete because it applies to taxable
years that end before January 1, 2015.
AB881,91
11Section
91
. 71.05 (6) (b) 45. (title) of the statutes is created to read:
AB881,17,1212
71.05
(6) (b) 45. (title) `Related entities.'
AB881,92
13Section
92
. 71.05 (6) (b) 46. (title) of the statutes is created to read:
AB881,17,1414
71.05
(6) (b) 46. (title) `Related entities unable to offset amount.'
Note: This Section repeals a statute that is obsolete because it applies to taxable
years that begin before January 1, 2014. Section 124 deletes a statute that is obsolete
after the repeal of the statute in this Section.
AB881,94
17Section
94. 71.05 (6) (b) 47m. of the statutes is repealed.
Note: This Section repeals a statute that is obsolete because it does not apply to
taxable years that begin after December 31, 2014.
AB881,95
1Section
95
. 71.05 (6) (b) 48. (title) of the statutes is created to read:
AB881,18,32
71.05
(6) (b) 48. (title) `Combat zone related death; basic, special, or incentive
3pay.'
AB881,96
4Section
96. 71.05 (6) (b) 48m. (title) of the statutes is created to read:
AB881,18,55
71.05
(6) (b) 48m. (title) `Combat zone related death; other income.'
AB881,97
6Section
97. 71.05 (6) (b) 49. (title) of the statutes is created to read:
AB881,18,77
71.05
(6) (b) 49. (title) `Private school tuition.'
AB881,98
8Section
98. 71.05 (6) (b) 50. (title) of the statutes is created to read:
AB881,18,99
71.05
(6) (b) 50. (title) `Federal and Wisconsin basis difference.'
AB881,99
10Section
99. 71.05 (6) (b) 51. (title) of the statutes is created to read:
AB881,18,1111
71.05
(6) (b) 51. (title) `Physician or psychiatrist grant.'
AB881,100
12Section
100. 71.05 (6) (b) 52. (title) of the statutes is created to read:
AB881,18,1313
71.05
(6) (b) 52. (title) `ABLE account contribution.'
AB881,101
14Section
101
. 71.05 (6) (b) 53. (title) of the statutes is created to read:
AB881,18,1615
71.05
(6) (b) 53. (title) `Olympic, Paralympic, or Special Olympic medals and
16payments.'
AB881,102
17Section
102. 71.05 (22) (f) 1. of the statutes is repealed.
AB881,103
18Section
103. 71.05 (22) (f) 2. of the statutes is repealed.
AB881,104
19Section
104. 71.05 (22) (f) 3. of the statutes is repealed.
AB881,105
20Section 105
. 71.07 (5) (a) 15. of the statutes is amended to read:
AB881,19,321
71.07
(5) (a) 15. The amount claimed as a deduction for medical care insurance
22under section
213 of the Internal Revenue Code that is exempt from taxation under
23s. 71.05 (6) (b)
17. to 20. 19., 35.,
36., 37., 38.,
39., 40., 41., and 42. and the amount
1claimed as a deduction for a long-term care insurance policy under section
213 (d)
2(1) (D) of the Internal Revenue Code, as defined in section
7702B (b) of the Internal
3Revenue Code that is exempt from taxation under s. 71.05 (6) (b) 26.
Note: This Section deletes cross-references to statutes that are repealed by this
bill.
AB881,106
4Section
106. 71.07 (6) (am) 1. of the statutes is amended to read:
AB881,20,75
71.07
(6) (am) 1.
In this paragraph For purposes of subd. 1m., “earned income"
6means
qualified earned income, as defined in section 221 (b) of the internal revenue
7code as amended to December 31, 1985, plus employee business expenses under
8section 62 (2) (B) to (D) of that code, allocable to Wisconsin under s. 71.04, plus
9amounts received by the individual for services performed in the employ of the
10individual's spouse minus the amount of disability income excluded under s. 71.05
11(6) (b) 4. and minus any other amount not subject to tax under this chapter wages,
12salaries, or professional fees, and other amounts received as compensation for
13personal services actually rendered, but does not include that part of the
14compensation derived by the taxpayer for personal services rendered by him or her
15to a corporation which represents a distribution of earnings or profits rather than a
16reasonable allowance as compensation for the personal services actually rendered.
17In the case of a taxpayer engaged in a trade or business in which both personal
18services and capital are material income-producing factors, under federal
19regulations, a reasonable allowance as compensation for the personal services
20rendered by the taxpayer shall be considered as earned income. Earned income does
21not include any amount not included in gross income, received as a pension or
22annuity, paid or distributed out of an individual retirement plan (within the meaning
23of section 7701 (a) (37) of the Internal Revenue Code), received as deferred
1compensation, or received for services, not in the course of the employer's trade or
2business, or domestic service in a private home of the employer, performed by an
3individual in the employ of his or her spouse. Earned income is computed
4notwithstanding the fact that each spouse owns an undivided one-half interest in
5the whole of the marital property. A marital property agreement or unilateral
6statement under ch. 766 transferring income between spouses has no effect in
7computing earned income under this paragraph.
Note: This Section incorporates the text of the definition of “earned income” from
the Internal Revenue Code.
AB881,107
8Section
107. 71.07 (6) (am) 1m. of the statutes is created to read:
AB881,20,169
71.07
(6) (am) 1m. In this paragraph, “qualified earned income” means an
10amount equal to the excess of the earned income of the spouse for the taxable year,
11over an amount equal to the sum of the deductions described in paragraphs (1), (2)
12(B), (C), and (E), (6), (7), and (12) of section
62 (a) of the Internal Revenue Code to the
13extent such deductions are properly allocable to or chargeable against earned
14income, allocable to Wisconsin under s. 71.04, minus the amount of disability income
15excluded under s. 71.05 (6) (b) 4. and minus any other amount not subject to tax
16under this chapter.
Note: This Section incorporates the text of the definition of “qualified earned
income” from the Internal Revenue Code. Because this Section defines “qualified earned
income” separately from “earned income,” Section 108 also replaces the phrase “earned
income” with “qualified earned income.”
AB881,108
17Section
108
. 71.07 (6) (am) 2. d. of the statutes is amended to read:
AB881,20,2018
71.07
(6) (am) 2. d. For taxable years beginning after December 31, 2000, 3
19percent of the
qualified earned income of the spouse with the lower
qualified earned
20income, but not more than $480.
AB881,109
21Section
109. 71.07 (8) of the statutes is repealed.
Note: This Section repeals a personal exemption credit that does not apply for
taxable years that begin after December 31, 1999. Sections 103, 104, 105, 120, 122, 126,
and 127 repeal statutes that cross-reference the personal exemption credit and are
obsolete.
AB881,110
1Section 110
. 71.07 (9e) (a) of the statutes is repealed.
Note: Sections 110 to 114
, 116, and 117 repeal statutes that are obsolete because
they apply to taxable years that begin before January 1, 1994, 1995, 1996, or 2011.
AB881,111
2Section 111
. 71.07 (9e) (ac) of the statutes is repealed.
AB881,112
3Section 112
. 71.07 (9e) (ad) of the statutes is repealed.
AB881,113
4Section 113
. 71.07 (9e) (af) of the statutes is repealed.
AB881,114
5Section 114
. 71.07 (9e) (ah) of the statutes is repealed.
AB881,115
6Section
115. 71.07 (9e) (aj) (intro.) of the statutes is amended to read:
AB881,21,117
71.07
(9e) (aj) (intro.) For taxable years beginning after December 31, 2010, an
8individual may credit against the tax imposed under s. 71.02 an amount equal to one
9of the following percentages of the federal basic earned income credit for which the
10person is eligible for the taxable year under section 32
(b) (1) (A) to (C) of the Internal
11Revenue Code:
Note: This Section changes an incorrect reference to the Internal Revenue Code.
AB881,116
12Section 116
. 71.07 (9e) (ap) of the statutes is repealed.