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AB762,3,1918 71.28 (4t) Local media advertising tax credit. (a) Definitions. In this
19subsection:
AB762,3,2220 1. “Claimant” means a corporation that, in the taxable year to which the claim
21under this subsection relates, has fewer than 100 full-time employees and less than
22$10,000,000 in revenue.
AB762,3,2323 2. “Local media outlet” means any of the following:
AB762,3,2424 a. A newspaper in this state that has at least 25 percent news content.
AB762,4,2
1b. A broadcast radio or television station that is licensed by the federal
2communications commission to serve a local community in this state.
AB762,4,43 c. An Internet site based in this state that is meant to inform users of news and
4events in a local community in this state.
AB762,4,95 (b) Filing claims. For taxable years beginning after December 31, 2021, and
6before January 1, 2027, a claimant may claim as a credit against the taxes imposed
7under s. 71.23, up to the amount of the tax, an amount equal to 50 percent of the
8expenditures paid or incurred in the taxable year by the claimant in the ordinary
9course of a trade or business for advertising in a local media outlet.
AB762,4,1110 (c) Limitations. 1. The maximum amount of expenditures that may be taken
11into account under par. (b) in a taxable year is $10,000.
AB762,4,1812 2. Partnerships, limited liability companies, and tax-option corporations may
13not claim the credit under this subsection, but the eligibility for, and the amount of,
14the credit are based on their payment of amounts under par. (b). A partnership,
15limited liability company, or tax-option corporation shall compute the amount of
16credit that each of its partners, members, or shareholders may claim and shall
17provide that information to each of them. The partners, members, and shareholders
18may claim the credit in proportion to their ownership interests.
AB762,4,2019 3. No credit may be claimed under this subsection unless the claimant makes
20the adjustment under s. 71.26 (3) (e) 5. in the taxable year to which the claim relates.
AB762,4,2221 (d) Administration. Subsection (4) (e) to (h), as it applies to the credit under
22sub. (4), applies to the credit under this subsection.
AB762,6 23Section 6 . 71.30 (3) (ct) of the statutes is created to read:
AB762,4,2424 71.30 (3) (ct) Local media advertising tax credit under s. 71.28 (4t).
AB762,7 25Section 7 . 71.45 (2) (a) 24. of the statutes is created to read:
AB762,5,3
171.45 (2) (a) 24. For a taxpayer claiming the credit under s. 71.47 (4t), by adding
2to federal taxable income the expenditures taken into account to claim the credit
3under s. 71.47 (4t) that were deducted under the Internal Revenue Code.
AB762,8 4Section 8 . 71.47 (4t) of the statutes is created to read:
AB762,5,65 71.47 (4t) Local media advertising tax credit. (a) Definitions. In this
6subsection:
AB762,5,97 1. “Claimant” means a corporation that, in the taxable year to which the claim
8under this subsection relates, has fewer than 100 full-time employees and less than
9$10,000,000 in revenue.
AB762,5,1010 2. “Local media outlet” means any of the following:
AB762,5,1111 a. A newspaper in this state that has at least 25 percent news content.
AB762,5,1312 b. A broadcast radio or television station that is licensed by the federal
13communications commission to serve a local community in this state.
AB762,5,1514 c. An Internet site based in this state that is meant to inform users of news and
15events in a local community in this state.
AB762,5,2016 (b) Filing claims. For taxable years beginning after December 31, 2021, and
17before January 1, 2027, a claimant may claim as a credit against the taxes imposed
18under s. 71.43, up to the amount of the tax, an amount equal to 50 percent of the
19expenditures paid or incurred in the taxable year by the claimant in the ordinary
20course of a trade or business for advertising in a local media outlet.
AB762,5,2221 (c) Limitations. 1. The maximum amount of expenditures that may be taken
22into account under par. (b) in a taxable year is $10,000.
AB762,6,423 2. Partnerships, limited liability companies, and tax-option corporations may
24not claim the credit under this subsection, but the eligibility for, and the amount of,
25the credit are based on their payment of amounts under par. (b). A partnership,

1limited liability company, or tax-option corporation shall compute the amount of
2credit that each of its partners, members, or shareholders may claim and shall
3provide that information to each of them. The partners, members, and shareholders
4may claim the credit in proportion to their ownership interests.
AB762,6,75 3. No credit may be claimed under this subsection unless the claimant makes
6the adjustment under s. 71.45 (2) (a) 24. in the taxable year to which the claim
7relates.
AB762,6,98 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under
9s. 71.28 (4), applies to the credit under this subsection.
AB762,9 10Section 9 . 71.49 (1) (ct) of the statutes is created to read:
AB762,6,1111 71.49 (1) (ct) Local media advertising tax credit under s. 71.47 (4t).
AB762,6,1212 (End)
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