AB2,29,1013
c. For purposes of subd. 13. a., “Internal Revenue Code" does not include the
14following provisions of federal public laws for taxable years beginning after
15December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
16106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
17109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
18P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
19110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
2015351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
21312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
221501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
23111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
24111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
25411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
1P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
2171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
313201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
413801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
514221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
640306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
7sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
8(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
9115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
10117, 118, 130, 132, and 145 of division Q of P.L.
116-94.
AB2,29,1611
d. For purposes of subd. 13. a., “Internal Revenue Code" does not include
12amendments to the federal Internal Revenue Code enacted after December 31, 2019,
13except that "Internal Revenue Code" includes sections 7001, 7002, 7003, 7004, and
147005 of division G of P.L.
116-127 and sections 1106, 2201, 2202, 2203, 2204, 2205,
152206, 2301, 2302, 2303, 2305, 2307, 2308, 3606, 3608, 3609, 3701, 3702, and 4007 of
16division A of P.L.
116-136.
AB2,29,2417
e. For purposes of subd. 13. a., the provisions of federal public laws that directly
18or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply
19for Wisconsin purposes at the same time as for federal purposes, except that changes
20made by section 13516 of P.L.
115-97, sections 20101, 20102, 20104, 20201, 40201,
2140202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116 of P.L.
22115-123, section 101 (a), (b), and (h) of division U of P.L.
115-141, section 1122 of P.L.
23116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L.
116-94, and section
242 of P.L.
116-98 apply for taxable years beginning after December 31, 2020.
AB2,61
25Section 61
. 71.26 (2) (b) 14. of the statutes is created to read:
AB2,30,2
171.26
(2) (b) 14. For purposes of s. 71.26 (2) (b) 2., 2013 stats., “Internal Revenue
2Code" includes section 109 of division U of P.L.
115-141.
AB2,62
3Section
62. 71.28 (6) (h) of the statutes is amended to read:
AB2,30,154
71.28
(6) (h) Any person, including a nonprofit entity described in section
501 5(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
6par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
7imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
8transfer, and submits with the notification a copy of the transfer documents, and the
9department certifies ownership of the credit with each transfer.
The transferor may
10file a claim for more than one taxable year on a form prescribed by the department
11to compute all years of the credit under par. (a) 2m. or 3., at the time of the transfer
12request. The transferee may first use the credit to offset tax in the taxable year of the
13transferor in which the transfer occurs, and may use the credit only to offset tax in
14taxable years otherwise allowed to be claimed and carried forward by the original
15claimant.
AB2,63
16Section 63
. 71.34 (1g) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
AB2,64
17Section 64
. 71.34 (1g) (j) 3. m. of the statutes is created to read:
AB2,30,1918
71.34
(1g) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q) and 104 (a) of division
19U of P.L.
115-141.
AB2,65
20Section 65
. 71.34 (1g) (j) 3. n. of the statutes is created to read:
AB2,30,2221
71.34
(1g) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
22of division O of P.L.
116-94.
AB2,66
23Section 66
. 71.34 (1g) (k) 3. of the statutes is amended to read:
AB2,31,424
71.34
(1g) (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.
AB2,67
5Section 67
. 71.34 (1g) (L) 1. of the statutes is amended to read:
AB2,31,96
71.34
(1g) (L) 1. For taxable years beginning after December 31, 2017,
and
7before January 1, 2021, for tax option corporations, “Internal Revenue Code" means
8the federal Internal Revenue Code as amended to December 31, 2017, except as
9provided in subds. 2., 3., and 5. and s. 71.98 and subject to subd. 4.
AB2,68
10Section
68. 71.34 (1g) (L) 3. of the statutes is amended to read:
AB2,31,1811
71.34
(1g) (L) 3. For purposes of this paragraph, “Internal Revenue Code" does
12not include amendments to the federal Internal Revenue Code enacted after
13December 31, 2017, except that “Internal Revenue Code” includes
sections 40307
14and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
15sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
161302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
17116-94; section 2 (b) of P.L. 116-98; and sections 1106, 2202, 2203, 2204, 2205, 2206,
182307, 3608, 3609, 3701, and 3702 of division A of P.L.
116-136.
AB2,69
19Section 69
. 71.34 (1g) (L) 4. of the statutes is amended to read:
AB2,31,2520
71.34
(1g) (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.
AB2,70
1Section
70. 71.34 (1g) (m) of the statutes is created to read:
AB2,32,52
71.34
(1g) (m) 1. For taxable years beginning after December 31, 2020, for tax
3option corporations, “Internal Revenue Code" means the federal Internal Revenue
4Code as amended to December 31, 2019, except as provided in subds. 2., 3., and 5. and
5s. 71.98 and subject to subd. 4.
AB2,33,36
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, 2020: 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.
AB2,33,94
3. For purposes of this paragraph, “Internal Revenue Code" does not include
5amendments to the federal Internal Revenue Code enacted after December 31, 2019,
6except that "Internal Revenue Code" includes sections 7001, 7002, 7003, 7004, and
77005 of division G of P.L.
116-127 and sections 1106, 2201, 2202, 2203, 2204, 2205,
82206, 2301, 2302, 2303, 2305, 2307, 2308, 3606, 3608, 3609, 3701, 3702, and 4007 of
9division A of P.L.
116-136.
AB2,33,1710
4. For purposes of this paragraph, the provisions of federal public laws that
11directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
12apply for Wisconsin purposes at the same time as for federal purposes, except that
13changes made by section 13516 of P.L.
115-97, sections 20101, 20102, 20104, 20201,
1440201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116
15of P.L.
115-123, section 101 (a), (b), and (h) of division U of P.L.
115-141, section 1122
16of P.L.
116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L.
116-94, and
17section 2 of P.L.
116-98 apply for taxable years beginning after December 31, 2020.
AB2,33,21185. For purposes of this paragraph, section
1366 (f) of the Internal Revenue Code
19(relating to pass-through of items to shareholders) is modified by substituting the
20tax under s. 71.35 for the taxes under sections
1374 and
1375 of the Internal Revenue
21Code.
AB2,71
22Section 71
. 71.34 (1u) of the statutes is created to read:
AB2,33,2423
71.34
(1u) For purposes of s. 71.34 (1g) (b), 2013 stats., “Internal Revenue
24Code" includes section 109 of division U of P.L.
115-141.
AB2,72
25Section 72
. 71.42 (2) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
AB2,73
1Section
73. 71.42 (2) (j) 3. m. of the statutes is created to read:
AB2,34,32
71.42
(2) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q) and 104 (a) of division
3U of P.L.
115-141.
AB2,74
4Section 74
. 71.42 (2) (j) 3. n. of the statutes is created to read:
AB2,34,65
71.42
(2) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
6of division O of P.L.
116-94.
AB2,75
7Section 75
. 71.42 (2) (k) 3. of the statutes is amended to read:
AB2,34,138
71.42
(2) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
9not include amendments to the federal Internal Revenue Code enacted after
10December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
1111025, and 13543 of P.L.
115-97; sections 40307 and 40413 of P.L. 115-123; and
12section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
13116-94.
AB2,76
14Section 76
. 71.42 (2) (L) 1. of the statutes is amended to read:
AB2,34,1815
71.42
(2) (L) 1. For taxable years beginning after December 31, 2017,
and
16before January 1, 2021, “Internal Revenue Code" means the federal Internal
17Revenue Code as amended to December 31, 2017, except as provided in subds. 2. to
184. and s. 71.98 and subject to subd. 5.
AB2,77
19Section
77. 71.42 (2) (L) 3. of the statutes is amended to read:
AB2,35,220
71.42
(2) (L) 3. For purposes of this paragraph, “Internal Revenue Code" does
21not include amendments to the federal Internal Revenue Code enacted after
22December 31, 2017, except that “Internal Revenue Code” includes
sections 40307
23and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
24sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
251302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
1116-94; section 2 (b) of P.L. 116-98; and sections 1106, 2202, 2203, 2204, 2205, 2206,
22307, 3608, 3609, 3701, and 3702 of division A of P.L.
116-136.
AB2,78
3Section 78
. 71.42 (2) (L) 5. of the statutes is amended to read:
AB2,35,94
71.42
(2) (L) 5. For purposes of this paragraph, the provisions of federal public
5laws that directly or indirectly affect the Internal Revenue Code, as defined in this
6paragraph, apply for Wisconsin purposes at the same time as for federal purposes
,
7except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
813306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
9first apply for taxable years beginning after December 31, 2017.
AB2,79
10Section 79
. 71.42 (2) (m) of the statutes is created to read:
AB2,35,1311
71.42
(2) (m) 1. For taxable years beginning after December 31, 2020, “Internal
12Revenue Code" means the federal Internal Revenue Code as amended to December
1331, 2019, except as provided in subds. 2. and 3. and s. 71.98 and subject to subd. 4.
AB2,36,1114
2. For purposes of this paragraph, “Internal Revenue Code" does not include
15the following provisions of federal public laws for taxable years beginning after
16December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
17106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
18109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
19P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
20110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
2115351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
22312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
231501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
24111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
25111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
1411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
2P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
3171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
413201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
513801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
614221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
740306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
8sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
9(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
10115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
11117, 118, 130, 132, and 145 of division Q of P.L.
116-94.
AB2,36,1712
3. For purposes of this paragraph, “Internal Revenue Code" does not include
13amendments to the federal Internal Revenue Code enacted after December 31, 2019,
14except that "Internal Revenue Code" includes sections 7001, 7002, 7003, 7004, and
157005 of division G of P.L.
116-127 and sections 1106, 2201, 2202, 2203, 2204, 2205,
162206, 2301, 2302, 2303, 2305, 2307, 2308, 3606, 3608, 3609, 3701, 3702, and 4007 of
17division A of P.L.
116-136.
AB2,36,2518
4. For purposes of this paragraph, the provisions of federal public laws that
19directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
20apply for Wisconsin purposes at the same time as for federal purposes, except that
21changes made by section 13516 of P.L.
115-97, sections 20101, 20102, 20104, 20201,
2240201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116
23of P.L.
115-123, section 101 (a), (b), and (h) of division U of P.L.
115-141, section 1122
24of P.L.
116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L.
116-94, and
25section 2 of P.L.
116-98 apply for taxable years beginning after December 31, 2020.
AB2,80
1Section
80. 71.42 (2p) of the statutes is created to read:
AB2,37,32
71.42
(2p) For purposes of s. 71.42 (2) (b), 2013 stats., “Internal Revenue Code"
3includes section 109 of division U of P.L.
115-141.
AB2,81
4Section
81. 71.47 (6) (h) of the statutes is amended to read:
AB2,37,165
71.47
(6) (h) Any person, including a nonprofit entity described in section
501 6(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
7par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
8imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
9transfer, and submits with the notification a copy of the transfer documents, and the
10department certifies ownership of the credit with each transfer.
The transferor may
11file a claim for more than one taxable year on a form prescribed by the department
12to compute all years of the credit under par. (a) 2m. or 3., at the time of the transfer
13request. The transferee may first use the credit to offset tax in the taxable year of the
14transferor in which the transfer occurs, and may use the credit only to offset tax in
15taxable years otherwise allowed to be claimed and carried forward by the original
16claimant.
AB2,82
17Section
82. 71.52 (1g) of the statutes is created to read:
AB2,38,218
71.52
(1g) “Earned income” means wages, salaries, tips, and other employee
19compensation that may be included in federal adjusted gross income for the taxable
20year, plus the amount of the claimant's net earnings from self-employment for the
21taxable year determined with regard to the deduction allowed to the taxpayer by
22section
164 (f) of the Internal Revenue Code. For purposes of this subsection, a
23claimant's earned income is computed without regard to any marital property laws
24and a claimant may elect to treat amounts excluded from federal adjusted gross
1income as earned income, as provided under section
112 of the Internal Revenue
2Code. “Earned income” does not include the following:
AB2,38,33
(a) Any amount received as a pension or annuity.
AB2,38,44(b) Any amount to which section
871 (a) of the Internal Revenue Code applies.
AB2,38,65
(c) Any amount received for services provided by an individual while the
6individual is an inmate at a penal institution.
AB2,38,117
(d) Any amount received for service performed in work activities under
8paragraphs (4) or (7) of section 407 (d) of the Social Security Act to which the claimant
9is assigned under any state program under part A of title IV of the Social Security
10Act. This paragraph applies only to amounts subsidized under any such state
11program.
AB2,83
12Section
83. 71.55 (10) of the statutes is amended to read:
AB2,38,2113
71.55
(10) Farmers. Notwithstanding the provision in s. 71.52 (6) that requires
14the addition of certain disqualified losses to income, such an addition may not be
15made by a claimant who is a farmer whose primary income is from farming and
16whose farming generates less than $250,000 in gross receipts from the operation of
17farm premises in the year to which the claim relates.
For purposes of this subsection,
18a claimant's primary income is from farming if the claimant's gross income from
19farming for the year to which the claim relates is greater than 50 percent of the
20claimant's total gross income from all sources for the year to which the claim relates.
21In this subsection, “gross income” has the meaning given in s. 71.03 (1).
AB2,84
22Section
84. 71.76 of the statutes is renumbered 71.76 (1) and amended to read:
AB2,39,1523
71.76
(1) If for any year the amount of federal net income tax payable, of a credit
24claimed or carried forward, of a net operating loss carried forward or of a capital loss
25carried forward of any taxpayer as reported to the internal revenue service is
1changed or corrected by the internal revenue service or other officer of the United
2States, such taxpayer shall report such changes or corrections to the department
3within
90 180 days after its final determination and shall concede the accuracy of
4such determination or state how the determination is erroneous. Such changes or
5corrections need not be reported unless they affect the amount of net tax payable
6under this chapter, of a credit calculated under this chapter, of a Wisconsin net
7operating loss carried forward, of a Wisconsin net business loss carried forward or
8of a capital loss carried forward under this chapter. Any taxpayer submitting an
9amended return to the internal revenue service, or to another state if there has been
10allowed a credit against Wisconsin taxes for taxes paid to that state, shall also file,
11within
90 180 days of such filing date, an amended return if any information
12contained on the amended return affects the amount of net tax payable under this
13chapter of a credit calculated under this chapter, of a Wisconsin net operating loss
14carried forward, of a Wisconsin net business loss carried forward or of a capital loss
15carried forward under this chapter.
AB2,85
16Section 85
. 71.76 (2) of the statutes is created to read:
AB2,39,2517
71.76
(2) In the case of any partnership adjustments, as defined under section
186241 of the Internal Revenue Code and including adjustments under section
6225 19of the Internal Revenue Code, the partnership and its partners shall report such
20changes or corrections to the department within 180 days after the final
21determination by the internal revenue service and shall concede the accuracy of such
22determination or state how the determination is erroneous. The partnership and its
23partners shall submit amended returns, as applicable, for each reviewed year, as
24defined under section
6225 of the Internal Revenue Code, to which such partnership
25adjustments relate.
AB2,86
1Section
86. 71.77 (7) (b) of the statutes is amended to read:
AB2,40,82
71.77
(7) (b) If notice of assessment or refund is given to the taxpayer within
390 180 days of the date on which the department receives a report from the taxpayer
4under s. 71.76 or within such other period specified in a written agreement entered
5into prior to the expiration of such
90 180 days by the taxpayer and the department.
6If the taxpayer does not report to the department as required under s. 71.76, the
7department may make an assessment against the taxpayer or refund to the taxpayer
8within 4 years after discovery by the department.
AB2,87
9Section 87
. 71.83 (1) (a) 6. of the statutes is amended to read:
AB2,40,1510
71.83
(1) (a) 6. `Retirement plans.' Any natural person who is liable for a
11penalty for federal income tax purposes under section
72 (m) (5), (q), (t), and (v),
4973,
124974,
4975, or
4980A of the Internal Revenue Code is liable for 33 percent of the
13federal penalty unless the income received is exempt from taxation under s. 71.05
14(1) (a) or
(ae) (6) (b) 54. The penalties provided under this subdivision shall be
15assessed, levied, and collected in the same manner as income or franchise taxes.
AB2,88
16Section
88. 73.0305 of the statutes is amended to read:
AB2,40,23
1773.0305 Revenue limits calculations. The department of revenue shall
18annually determine and certify to the state superintendent of public instruction,
no
19later than the 4th Monday in June at the superintendent's request, the allowable
20rate of increase under subch. VII of ch. 121. The allowable rate of increase is the
21percentage change, if not negative, in the consumer price index for all urban
22consumers, U.S. city average, between the preceding March 31 and the 2nd
23preceding March 31, as computed by the federal department of labor.
AB2,89
24Section
89. 73.09 (4) (c) of the statutes is amended to read:
AB2,41,7
173.09
(4) (c) Recertification is contingent upon submission of an application for
2renewal, at least 60 days before the expiration date of the current certificate,
3attesting to the completion of the requirements specified in
par. (b). Persons
4applying for renewal on the basis of attendance at the meetings called by the
5department under s. 73.06 (1) and by meeting continuing education requirements
6shall submit a
$20 recertification fee
, in an amount determined by the department
7not to exceed $75, with their applications.
AB2,90
8Section
90. 73.09 (5) of the statutes is amended to read:
AB2,41,199
73.09
(5) Examinations. As provided in subs. (1) and (2), the department of
10revenue shall prepare and administer examinations for each level of certification.
11A person applying for an examination under this subsection shall submit
a $20 an 12examination fee with the person's application.
If the department administers and
13grades the examinations, the fee shall be the amount equal to the department's best
14estimate of the actual cost to administer and grade the examinations, but no greater
15than $75. If a test service provider administers and grades the examinations, the fee
16shall be the amount equal to the department's best estimate of the provider's actual
17cost to administer and grade the examinations, but no greater than $75. The
18department
of revenue shall grant certification to each person who passes the
19examination for that level.
AB2,91
20Section 91
. 74.315 (1) of the statutes is amended to read:
AB2,41,2521
74.315
(1) Submission. No later than October 1 of each year, the taxation
22district clerk shall submit to the department of revenue, on a form prescribed by the
23department, a listing of all the omitted taxes under s. 70.44 to be included on the
24taxation district's next tax roll, if the
total of all such omitted taxes
exceeds $5,000 25for any single description of property are $250 or more.
AB2,92
1Section
92. 74.315 (1m) of the statutes is created to read:
AB2,42,72
74.315 (1m)
Amount collected from property in a tax incremental district.
3A tax may not be included on a form submitted under sub. (1) if the tax was levied
4on a property within a tax incremental district, as defined in s. 60.85 (1) (n) or 66.1105
5(2) (k), unless the current value of the tax incremental district is lower than the tax
6incremental base, as defined in s. 60.85 (1) (m) or 66.1105 (2) (j), in the assessment
7year for which the tax was collected.
AB2,93
8Section 93
. 74.315 (2) of the statutes is amended to read:
AB2,42,179
74.315
(2) Equalized valuation Amount determined. After receiving the form
10under sub. (1), but no later than November 15, the department of revenue shall
11determine the amount of
any change in the taxation district's equalized valuation
12that results from considering the valuation represented by the taxes described under
13sub. (1) taxes to be shared with each taxing jurisdiction for which the taxation district
14collected taxes and determine the amount of taxes collected under s. 70.44 to be
15shared with each taxing jurisdiction for which the taxation district collected taxes.
16The department's determination under this subsection is subject to review only
17under s. 227.53.
AB2,94
18Section 94
. 74.315 (3) of the statutes is amended to read:
AB2,42,2419
74.315
(3) Notice and distribution. If the department of revenue determines
20under sub. (2) that the taxation district's equalized valuation changed as a result of
21considering the valuation represented by the taxes described under sub. (1), the The 22department shall notify the taxation district and the taxation district shall distribute
23the
resulting collections under ss. 74.23 (1) (a) 5., 74.25 (1) (a) 4m., and 74.30 (1) (dm)
24resulting from the determinations made under sub. (2).
AB2,95
25Section
95. 76.04 (1) of the statutes is amended to read:
AB2,43,5
176.04
(1) Every company defined in s. 76.02 shall, annually, file a true and
2accurate statement in such manner and form and setting forth such facts as the
3department shall deem necessary to enforce ss. 76.01 to 76.26. The annual reports
4for railroad companies shall be filed
on or before April 15 and for conservation and
5regulation companies, air carriers and pipeline companies on or before May 1.
AB2,96
6Section
96. 76.07 (1) of the statutes is amended to read:
AB2,43,127
76.07
(1) Duty of department. The department on or before
August 1 8September 15 in each year
in the case of railroad companies, and on or before
9September 15 in the case of air carrier companies, conservation and regulation
10companies and pipeline companies, shall, according to its best knowledge and
11judgment, ascertain and determine the full market value of the property of each
12company within the state.
AB2,97
13Section
97. 76.075 of the statutes is amended to read:
AB2,44,3
1476.075 Adjustments of assessments. Within 4 years after the due date, or
15extended due date, of the report under s. 76.04, any person subject to taxation under
16this subchapter may request the department to make, or the department may make,
17an adjustment to the data under s. 76.07 (4g) or (4r) submitted by the person. If an
18adjustment under this section results in an increase in the tax due under this
19subchapter, the person shall pay the amount of the tax increase plus interest on that
20amount at the rate of 1 percent per month from the due date or extended due date
21of the report under s. 76.04 until the date of final determination and interest at the
22rate of 1.5 percent per month from the date of final determination until the date of
23payment. If an adjustment under this section results in a decrease in the tax due
24under this subchapter, the department shall refund the appropriate amount plus
25interest at the rate of
0.75 0.25 percent per month from the due date or extended due
1date under s. 76.04 until the date of refund. Sections 71.74 (1) and (2) and 71.75 (6)
2and (7), as they apply to income and franchise tax adjustments, apply to adjustments
3under this section. Review of the adjustments is as stated in s. 76.08.
AB2,98
4Section
98. 76.13 (1) of the statutes is amended to read:
AB2,44,145
76.13
(1) The department shall compute and levy a tax upon the property of
6each company defined in s. 76.02, as assessed in the manner specified in ss. 76.07 and
776.08, at the average net rate of taxation determined under s. 76.126. The amount
8of tax to be paid by each such company shall be extended upon a tax roll opposite the
9description of the property of the respective companies. The tax rolls for all
10companies required to be assessed on
or before August 1 in each year under s. 76.07
11(1) shall be completed on or before August 10, and for all companies required to be
12assessed on or before September 15 in each year under s. 76.07 (1) shall be completed
13on or before October 1; and the department shall thereupon attach to each such roll
14a certificate signed by the secretary of revenue, which shall be as follows:
AB2,44,22
15“I hereby certify that the foregoing tax roll includes the property of all railroad
16companies, air carrier companies, conservation and regulation companies or
17pipeline companies, as the case may be, defined in s. 76.02, liable to taxation in this
18state; that the valuation of the property of each company as set down in said tax roll
19is the full market value thereof as assessed by the department of revenue, except as
20changed by court judgment, and that the taxes thereon charged in said tax roll have
21been assessed and levied at the average net rate of taxation in this state, as required
22by law".