SB803: Bill Text

SB803,78 Section 78. 71.05 (6) (b) 32m. (title) of the statutes is created to read:

SB803,16,15 71.05 (6) (b) 32m. (title) `College savings account rollover contribution.'

SB803,79 Section 79. 71.05 (6) (b) 33. (title) of the statutes is created to read:

SB803,16,17 71.05 (6) (b) 33. (title) `College tuition and expenses program contribution.'

SB803,80 Section 80. 71.05 (6) (b) 34. (title) of the statutes is created to read:

SB803,16,19 71.05 (6) (b) 34. (title) `Basic, special, and incentive pay of reservists.'

SB803,81 Section 81 . 71.05 (6) (b) 35. (title) of the statutes is created to read:

SB803,16,21 71.05 (6) (b) 35. (title) `Medical care insurance; employer pays no amount.'

SB803,82 Section 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 of the statutes is repealed.

Note: This Section repeals a statute that is obsolete because it applies to taxable years that begin before January 1, 2008.

SB803,83 Section 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 of the statutes is repealed.

Note: This Section repeals a statute that is obsolete because it applies to taxable years that begin before January 1, 2011.

SB803,84 Section 84 . 71.05 (6) (b) 38. (title) of the statutes is created to read:

SB803,17,2 71.05 (6) (b) 38. (title) `Medical care insurance of unemployed.'

SB803,85 Section 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 of the statutes is repealed.

Note: This Section repeals a statute that is obsolete because it applies to taxable years that begin before January 1, 2011.

SB803,86 Section 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 of the statutes is repealed.

Note: This Section repeals a statute that is obsolete because it applies to taxable years that begin before January 1, 2012.

SB803,87 Section 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 of the statutes is repealed.

Note: This Section repeals a statute that is obsolete because it applies to taxable years that begin before January 1, 2013.

SB803,88 Section 88 . 71.05 (6) (b) 42. (title) of the statutes is created to read:

SB803,17,7 71.05 (6) (b) 42. (title) `Medical care insurance; employer pays portion of cost.'

SB803,89 Section 89 . 71.05 (6) (b) 43. (title) of the statutes is created to read:

SB803,17,9 71.05 (6) (b) 43. (title) `Household and dependent care expenses.'

SB803,90 Section 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 of the statutes is repealed.

Note: This Section repeals a statute that is obsolete because it applies to taxable years that end before January 1, 2015.

SB803,91 Section 91 . 71.05 (6) (b) 45. (title) of the statutes is created to read:

SB803,17,12 71.05 (6) (b) 45. (title) `Related entities.'

SB803,92 Section 92 . 71.05 (6) (b) 46. (title) of the statutes is created to read:

SB803,17,14 71.05 (6) (b) 46. (title) `Related entities unable to offset amount.'

SB803,93 Section 93. 71.05 (6) (b) 47. of the statutes, as affected by 2019 Wisconsin Act 54, is repealed.

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.

SB803,94 Section 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.

SB803,95 Section 95 . 71.05 (6) (b) 48. (title) of the statutes is created to read:

SB803,18,3 71.05 (6) (b) 48. (title) `Combat zone related death; basic, special, or incentive pay.'

SB803,96 Section 96. 71.05 (6) (b) 48m. (title) of the statutes is created to read:

SB803,18,5 71.05 (6) (b) 48m. (title) `Combat zone related death; other income.'

SB803,97 Section 97. 71.05 (6) (b) 49. (title) of the statutes is created to read:

SB803,18,7 71.05 (6) (b) 49. (title) `Private school tuition.'

SB803,98 Section 98. 71.05 (6) (b) 50. (title) of the statutes is created to read:

SB803,18,9 71.05 (6) (b) 50. (title) `Federal and Wisconsin basis difference.'

SB803,99 Section 99. 71.05 (6) (b) 51. (title) of the statutes is created to read:

SB803,18,11 71.05 (6) (b) 51. (title) `Physician or psychiatrist grant.'

SB803,100 Section 100. 71.05 (6) (b) 52. (title) of the statutes is created to read:

SB803,18,13 71.05 (6) (b) 52. (title) `ABLE account contribution.'

SB803,101 Section 101 . 71.05 (6) (b) 53. (title) of the statutes is created to read:

SB803,18,16 71.05 (6) (b) 53. (title) `Olympic, Paralympic, or Special Olympic medals and payments.'

SB803,102 Section 102. 71.05 (22) (f) 1. of the statutes is repealed.

SB803,103 Section 103. 71.05 (22) (f) 2. of the statutes is repealed.

SB803,104 Section 104. 71.05 (22) (f) 3. of the statutes is repealed.

SB803,105 Section 105 . 71.07 (5) (a) 15. of the statutes is amended to read:

SB803,19,3 71.07 (5) (a) 15. The amount claimed as a deduction for medical care insurance under section 213 of the Internal Revenue Code that is exempt from taxation under s. 71.05 (6) (b) 17. to 20. 19., 35., 36., 37., 38., 39., 40., 41., and 42. and the amount claimed as a deduction for a long-term care insurance policy under section 213 (d) (1) (D) of the Internal Revenue Code, as defined in section 7702B (b) of the Internal Revenue 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.

SB803,106 Section 106. 71.07 (6) (am) 1. of the statutes is amended to read:

SB803,20,7 71.07 (6) (am) 1. In this paragraph For purposes of subd. 1m., “earned income" means qualified earned income, as defined in section 221 (b) of the internal revenue code as amended to December 31, 1985, plus employee business expenses under section 62 (2) (B) to (D) of that code, allocable to Wisconsin under s. 71.04, plus amounts received by the individual for services performed in the employ of the individual's spouse minus the amount of disability income excluded under s. 71.05 (6) (b) 4. and minus any other amount not subject to tax under this chapter wages, salaries, or professional fees, and other amounts received as compensation for personal services actually rendered, but does not include that part of the compensation derived by the taxpayer for personal services rendered by him or her to a corporation which represents a distribution of earnings or profits rather than a reasonable allowance as compensation for the personal services actually rendered. In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors, under federal regulations, a reasonable allowance as compensation for the personal services rendered by the taxpayer shall be considered as earned income. Earned income does not include any amount not included in gross income, received as a pension or annuity, paid or distributed out of an individual retirement plan (within the meaning of section 7701 (a) (37) of the Internal Revenue Code), received as deferred compensation, or received for services, not in the course of the employer's trade or business, or domestic service in a private home of the employer, performed by an individual in the employ of his or her spouse. Earned income is computed notwithstanding the fact that each spouse owns an undivided one-half interest in the whole of the marital property. A marital property agreement or unilateral statement under ch. 766 transferring income between spouses has no effect in computing earned income under this paragraph.

Note: This Section incorporates the text of the definition of “earned income” from the Internal Revenue Code.

SB803,107 Section 107. 71.07 (6) (am) 1m. of the statutes is created to read:

SB803,20,16 71.07 (6) (am) 1m. In this paragraph, “qualified earned income” means an amount equal to the excess of the earned income of the spouse for the taxable year, over an amount equal to the sum of the deductions described in paragraphs (1), (2) (B), (C), and (E), (6), (7), and (12) of section 62 (a) of the Internal Revenue Code to the extent such deductions are properly allocable to or chargeable against earned income, allocable to Wisconsin under s. 71.04, minus the amount of disability income excluded under s. 71.05 (6) (b) 4. and minus any other amount not subject to tax under 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.”

SB803,108 Section 108 . 71.07 (6) (am) 2. d. of the statutes is amended to read:

SB803,20,20 71.07 (6) (am) 2. d. For taxable years beginning after December 31, 2000, 3 percent of the qualified earned income of the spouse with the lower qualified earned income, but not more than $480.

SB803,109 Section 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.

SB803,110 Section 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.

SB803,111 Section 111 . 71.07 (9e) (ac) of the statutes is repealed.

SB803,112 Section 112 . 71.07 (9e) (ad) of the statutes is repealed.

SB803,113 Section 113 . 71.07 (9e) (af) of the statutes is repealed.

SB803,114 Section 114 . 71.07 (9e) (ah) of the statutes is repealed.

SB803,115 Section 115. 71.07 (9e) (aj) (intro.) of the statutes is amended to read:

SB803,21,11 71.07 (9e) (aj) (intro.) For taxable years beginning after December 31, 2010, an individual may credit against the tax imposed under s. 71.02 an amount equal to one of the following percentages of the federal basic earned income credit for which the person is eligible for the taxable year under section 32 (b) (1) (A) to (C) of the Internal Revenue Code:

Note: This Section changes an incorrect reference to the Internal Revenue Code.

SB803,116 Section 116 . 71.07 (9e) (ap) of the statutes is repealed.

SB803,117 Section 117 . 71.07 (9e) (at) of the statutes is repealed.

SB803,118 Section 118 . 71.07 (9e) (g) 2. of the statutes is amended to read:

SB803,22,2 71.07 (9e) (g) 2. The advance payment amount that an individual's employer shall add to the individual's paycheck, as described in subd. 1., shall be equal to a percentage of the amount that the individual's employer adds to the individual's paycheck as an advance earned income tax credit payment under federal law. The percentage shall be the same percentage as is specified in par. (af), based on the number of qualifying children that the individual has 4 percent if the individual has one qualifying child, 14 percent if the individual has 2 qualifying children, or 43 percent if the individual has 3 or more qualifying children.

Note: This Section incorporates the contents of s. 71.07 (9e) (af), 2017 Stats., because the latter statute was repealed by Section 113.

SB803,119 Section 119. 71.10 (4) (b) of the statutes is repealed.

SB803,120 Section 120. 71.10 (4) (j) of the statutes is amended to read:

SB803,22,6 71.10 (4) (j) Any amount computed under s. 71.83 (1) (a) 6., (c), (ce), (cf), and (d).

Note: This Section adds, for purposes of the computation order, penalties relating to retirement plans, health savings account withdrawals, inconsistent estate basis reporting, and sale of certain assets or assets used in farming.

SB803,121 Section 121. 71.15 (2) of the statutes is repealed.

SB803,122 Section 122. 71.22 (11) of the statutes is amended to read:

SB803,22,14 71.22 (11) Except as provided in s. 71.45 (2), “Wisconsin net income", for corporations engaged in business wholly within this state, means net income and, for corporations engaged in business both within and outside this state, means the amount assigned to this state under s. 71.25 (6), (10) (c) or (13) or by a separate accounting or allocation, if allowed under s. 71.25 (6), or by another method approved under s. 71.25 (11), or (12) or (14).

SB803,123 Section 123. 71.25 (14) of the statutes is repealed.

Note: This Section repeals the alternative allocation method for corporations, which was available upon request on or before January 1, 2000. Section 123 deletes a cross-reference to this method.

SB803,124 Section 124 . 71.26 (2) (a) 10. of the statutes is repealed.

SB803,125 Section 125. 71.66 (2) (c) of the statutes is repealed.