Amendment SA1-SSA2-SB70

SB70-SSA2-SA1,487,24 (d) Administration. Subsection (9e) (d), to the extent that it applies to the credit under that subsection, applies to the credit under this subsection.

SB70-SSA2-SA1,1056 Section 1056. 71.10 (4) (hd) of the statutes is created to read:

SB70-SSA2-SA1,488,1 71.10 (4) (hd) Family caregiver tax credit under s. 71.07 (8p).”.

SB70-SSA2-SA1,488,2 184. Page 374, line 11: after that line insert:

SB70-SSA2-SA1,488,3 “ Section 1057. 71.05 (6) (a) 15. of the statutes is amended to read:

SB70-SSA2-SA1,488,9 71.05 (6) (a) 15. The amount of the credits computed under s. 71.07 (2dm), (2dx), (2dy), (3g), (3h), (3n), (3q), (3s), (3t), (3w), (3wm), (3y), (4k), (4n), (5e), (5i), (5j), (5k), (5r), (5rm), (6n), (8m), and (10) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).

SB70-SSA2-SA1,1058 Section 1058. 71.07 (8m) of the statutes is created to read:

SB70-SSA2-SA1,488,12 71.07 (8m) Universal changing station credit. (a) Definitions. In this subsection:

SB70-SSA2-SA1,488,16 1. “Claimant" means a sole proprietor, a partner of a partnership, a member of a limited liability company, or a shareholder of a tax-option corporation who files a claim under this subsection and meets either of the following conditions during the preceding taxable year:

SB70-SSA2-SA1,488,17 a. Had gross receipts that did not exceed $1,000,000.

SB70-SSA2-SA1,488,18 b. Employed no more than 30 full-time employees.

SB70-SSA2-SA1,488,20 2. “Full-time employee” means an individual who is employed for at least 30 hours per week for 20 or more calendar weeks during a taxable year.

SB70-SSA2-SA1,488,24 3. “Universal changing station” means a powered and height-adjustable adult changing table that is either floor mounted or wall mounted with a safety rail and can be used by an individual with a disability of either sex and the individual's care provider for personal hygiene and that satisfies all of the following:

SB70-SSA2-SA1,489,2 a. The changing table can lower to a height of 8 inches and raise to a height of 34 inches.

SB70-SSA2-SA1,489,3 b. The changing table is at least 31 inches wide by 72 inches long.

SB70-SSA2-SA1,489,4 c. The changing table supports at least 350 pounds.

SB70-SSA2-SA1,489,9 (b) Filing claims. For taxable years beginning after December 31, 2022, subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.02, up to the amount of those taxes, an amount equal to 50 percent of the amount the claimant paid during the taxable year to install a universal changing station.

SB70-SSA2-SA1,489,15 (c) Limitations. 1. No credit may be claimed under this subsection unless the universal changing station is installed in a single-occupant restroom that measures at least 8 feet by 10 feet, with adequate space for a wheelchair and a care provider to maneuver; that is equipped with a waste receptacle, a toilet, a lavatory, a soap dispenser, and a paper towel dispenser; and that complies with accessibility standards under the federal Americans with Disabilities Act.

SB70-SSA2-SA1,489,16 2. The credit claimed under this subsection may not exceed $5,125.

SB70-SSA2-SA1,489,23 3. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on the amounts paid by the entity. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members, and shareholders may claim the credit in proportion to their ownership interests.

SB70-SSA2-SA1,489,25 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

SB70-SSA2-SA1,1059 Section 1059. 71.10 (4) (ha) of the statutes is created to read:

SB70-SSA2-SA1,490,2 71.10 (4) (ha) Universal changing station credit under s. 71.07 (8m).

SB70-SSA2-SA1,1060 Section 1060. 71.21 (4) (a) of the statutes is amended to read:

SB70-SSA2-SA1,490,7 71.21 (4) (a) The amount of the credits computed by a partnership under s. 71.07 (2dm), (2dx), (2dy), (3g), (3h), (3n), (3q), (3s), (3t), (3w), (3wm), (3y), (4k), (4n), (5e), (5g), (5i), (5j), (5k), (5r), (5rm), (6n), (8m), and (10) and passed through to partners shall be added to the partnership's income.

SB70-SSA2-SA1,1061 Section 1061. 71.26 (2) (a) 4. of the statutes is amended to read:

SB70-SSA2-SA1,490,14 71.26 (2) (a) 4. Plus the amount of the credit computed under s. 71.28 (1dm), (1dx), (1dy), (3g), (3h), (3n), (3q), (3t), (3w), (3wm), (3y), (5e), (5g), (5i), (5j), (5k), (5r), (5rm), (6n), (8m), and (10) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g).

SB70-SSA2-SA1,1062 Section 1062. 71.28 (8m) of the statutes is created to read:

SB70-SSA2-SA1,490,17 71.28 (8m) Universal changing station credit. (a) Definitions. In this subsection:

SB70-SSA2-SA1,490,19 1. “Claimant" means a person who files a claim under this subsection and meets either of the following conditions during the preceding taxable year:

SB70-SSA2-SA1,490,20 a. Had gross receipts that did not exceed $1,000,000.

SB70-SSA2-SA1,490,21 b. Employed no more than 30 full-time employees.

SB70-SSA2-SA1,490,23 2. “Full-time employee” means an individual who is employed for at least 30 hours per week for 20 or more calendar weeks during a taxable year.

SB70-SSA2-SA1,490,24 3. “Universal changing station” has the meaning given in s. 71.07 (8m) (a) 3.

SB70-SSA2-SA1,491,5 (b) Filing claims. For taxable years beginning after December 31, 2022, subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.23, up to the amount of those taxes, an amount equal to 50 percent of the amount the claimant paid during the taxable year to install a universal changing station.

SB70-SSA2-SA1,491,11 (c) Limitations. 1. No credit may be claimed under this subsection unless the universal changing station is installed in a single-occupant restroom that measures at least 8 feet by 10 feet, with adequate space for a wheelchair and a care provider to maneuver; that is equipped with a waste receptacle, a toilet, a lavatory, a soap dispenser, and a paper towel dispenser; and that complies with accessibility standards under the federal Americans with Disabilities Act.

SB70-SSA2-SA1,491,12 2. The credit claimed under this subsection may not exceed $5,125.

SB70-SSA2-SA1,491,19 3. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on the amounts paid by the entity. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members, and shareholders may claim the credit in proportion to their ownership interests.

SB70-SSA2-SA1,491,21 (d) Administration. Sub. (4) (e) to (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.

SB70-SSA2-SA1,1063 Section 1063. 71.30 (3) (cu) of the statutes is created to read:

SB70-SSA2-SA1,491,23 71.30 (3) (cu) Universal changing station credit under s. 71.28 (8m).

SB70-SSA2-SA1,1064 Section 1064. 71.34 (1k) (g) of the statutes is amended to read:

SB70-SSA2-SA1,492,4 71.34 (1k) (g) An addition shall be made for credits computed by a tax-option corporation under s. 71.28 (1dm), (1dx), (1dy), (3), (3g), (3h), (3n), (3q), (3t), (3w), (3wm), (3y), (4), (5), (5e), (5g), (5i), (5j), (5k), (5r), (5rm), (6n), (8m), and (10) and passed through to shareholders.

SB70-SSA2-SA1,1065 Section 1065. 71.45 (2) (a) 10. of the statutes is amended to read:

SB70-SSA2-SA1,492,12 71.45 (2) (a) 10. By adding to federal taxable income the amount of credit computed under s. 71.47 (1dm) to (1dy), (3g), (3h), (3n), (3q), (3w), (3y), (5e), (5g), (5i), (5j), (5k), (5r), (5rm), (6n), (8m), and (10) and not passed through by a partnership, limited liability company, or tax-option corporation that has added that amount to the partnership's, limited liability company's, or tax-option corporation's income under s. 71.21 (4) or 71.34 (1k) (g) and the amount of credit computed under s. 71.47 (3), (3t), (4), (4m), and (5).

SB70-SSA2-SA1,1066 Section 1066. 71.47 (8m) of the statutes is created to read:

SB70-SSA2-SA1,492,15 71.47 (8m) Universal changing station credit. (a) Definitions. In this subsection:

SB70-SSA2-SA1,492,17 1. “Claimant" means a person who files a claim under this subsection and meets either of the following conditions during the preceding taxable year:

SB70-SSA2-SA1,492,18 a. Had gross receipts that did not exceed $1,000,000.

SB70-SSA2-SA1,492,19 b. Employed no more than 30 full-time employees.

SB70-SSA2-SA1,492,21 2. “Full-time employee” means an individual who is employed for at least 30 hours per week for 20 or more calendar weeks during a taxable year.

SB70-SSA2-SA1,492,22 3. “Universal changing station” has the meaning given in s. 71.07 (8m) (a) 3.

SB70-SSA2-SA1,493,2 (b) Filing claims. For taxable years beginning after December 31, 2022, subject to the limitations provided in this subsection, a claimant may claim as a credit against the tax imposed under s. 71.43, up to the amount of those taxes, an amount equal to 50 percent of the amount the claimant paid during the taxable year to install a universal changing station.

SB70-SSA2-SA1,493,8 (c) Limitations. 1. No credit may be claimed under this subsection unless the universal changing station is installed in a single-occupant restroom that measures at least 8 feet by 10 feet, with adequate space for a wheelchair and a care provider to maneuver; that is equipped with a waste receptacle, a toilet, a lavatory, a soap dispenser, and a paper towel dispenser; and that complies with accessibility standards under the federal Americans with Disabilities Act.

SB70-SSA2-SA1,493,9 2. The credit claimed under this subsection may not exceed $5,125.

SB70-SSA2-SA1,493,16 3. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on the amounts paid by the entity. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members, and shareholders may claim the credit in proportion to their ownership interests.

SB70-SSA2-SA1,493,18 (d) Administration. Section 71.28 (4) (e) to (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.

SB70-SSA2-SA1,1067 Section 1067. 71.49 (1) (cu) of the statutes is created to read:

SB70-SSA2-SA1,493,20 71.49 (1) (cu) Universal changing station credit under s. 71.47 (8m).”.

SB70-SSA2-SA1,493,21 185. Page 374, line 11: after that line insert:

SB70-SSA2-SA1,493,22 “ Section 1068. 71.26 (3) (j) of the statutes is amended to read:

SB70-SSA2-SA1,494,7 71.26 (3) (j) Sections 243, 244, 245, 245A, 246 and 246A are excluded and replaced by the rule that corporations may deduct from income dividends received from a corporation with respect to its common stock if the corporation receiving the dividends owns, directly or indirectly, during the entire taxable year at least 70 percent of the total combined voting stock of the payor corporation. In this paragraph, “dividends received" means gross dividends minus taxes on those dividends paid to a foreign nation and claimed as a deduction under this chapter. The same dividends may not be deducted more than once and may not be used in the determination of a net business loss under ss. 71.26 (4) and 71.45 (4).

SB70-SSA2-SA1,1069 Section 1069. 71.26 (4) (a) of the statutes is amended to read:

SB70-SSA2-SA1,495,2 71.26 (4) (a) Except as provided in par. (b) and s. 71.80 (25), a corporation, except a tax-option corporation or an insurer to which s. 71.45 (4) applies, may offset against its Wisconsin net business income any Wisconsin net business loss incurred in any of the 20 immediately preceding taxable years, if the corporation was subject to taxation under this chapter in the taxable year in which the loss was incurred, to the extent not offset by other items of Wisconsin income in the loss year and by Wisconsin net business income of any year between the loss year and the taxable year for which an offset is claimed. For purposes of this subsection, Wisconsin net business income or loss shall consist of all the income attributable to the operation of a trade or business in this state, less the business expenses allowed as deductions in computing net income, except that the dividends received deduction under sub. (3) (j) may not be used in the determination of a net business loss. The Wisconsin net business income or loss of corporations engaged in business within and without the state shall be determined under s. 71.25 (6) and (10) to (12). Nonapportionable losses having a Wisconsin situs under s. 71.25 (5) (b) shall be included in Wisconsin net business loss; and nonapportionable income having a Wisconsin situs under s. 71.25 (5) (b), whether taxable or exempt, shall be included in other items of Wisconsin income and Wisconsin net business income for purposes of this subsection.

SB70-SSA2-SA1,1070 Section 1070. 71.45 (4) (a) of the statutes is amended to read:

SB70-SSA2-SA1,495,16 71.45 (4) (a) Except as provided in par. (b) and s. 71.80 (25), insurers computing tax under this subchapter may subtract from Wisconsin net income any Wisconsin net business loss incurred in any of the 20 immediately preceding taxable years, if the insurer was subject to taxation under this chapter in the taxable year in which the loss was incurred, to the extent not offset by Wisconsin net business income of any year between the loss year and the taxable year for which an offset is claimed and computed without regard to sub. (2) (a) 8. and 9. and this subsection and limited to the amount of net income, but no loss incurred for a taxable year before taxable year 1987 by a nonprofit service plan of sickness care under ch. 148, or dental care under s. 447.13 may be treated as a net business loss of the successor service insurer under ch. 613 operating by virtue of s. 148.03 or 447.13. For purposes of this paragraph, the dividends received deduction under s. 71.26 (3) (j) may not be used in the determination of a net business loss.”.

SB70-SSA2-SA1,9337 Section 9337. Initial applicability; Revenue.

SB70-SSA2-SA1,495,19 (1) Dividends received deduction. The treatment of ss. 71.26 (3) (j) and (4) (a) and 71.45 (4) (a) first applies to taxable years beginning after December 31, 2022.”.

SB70-SSA2-SA1,495,20 186. Page 374, line 11: after that line insert:

SB70-SSA2-SA1,495,21 “ Section 1071. 71.05 (8) (a) of the statutes is amended to read:

SB70-SSA2-SA1,496,4 71.05 (8) (a) The carry back of losses to reduce income of prior years may be permitted for 2 taxable years. There shall be added any amount deducted as a federal net operating loss carry-back or carry-over and there shall be subtracted for the first taxable year for which the subtraction may be made any Wisconsin net operating loss carry-back or carry-forward allowable under par. (b) in an amount not in excess of the Wisconsin taxable income computed before the deduction of the Wisconsin net operating loss carry-back or carry-forward.

SB70-SSA2-SA1,1072 Section 1072. 71.05 (8) (b) 1. of the statutes is renumbered 71.05 (8) (b) and amended to read:

SB70-SSA2-SA1,496,21 71.05 (8) (b) Except as provided in s. 71.80 (25), a Wisconsin net operating loss may be carried back against Wisconsin taxable income of the previous 2 years and then carried forward against Wisconsin taxable incomes of the next 20 taxable years, if the taxpayer was subject to taxation under this chapter in the taxable year in which the loss was incurred, to the extent not offset against other income of the year of loss and to the extent not offset against Wisconsin modified taxable income of the 2 years preceding the loss and of any year between the loss year and the taxable year for which the loss carry-forward is claimed. In this paragraph, “Wisconsin modified taxable income" means Wisconsin taxable income with the following exceptions: a net operating loss deduction or offset for the loss year or any taxable year before or thereafter is not allowed, the deduction for long-term capital gains under subs. (6) (b) 9. and 9m., (25), and (25m) is not allowed, the amount deductible for losses from sales or exchanges of capital assets may not exceed the amount includable in income for gains from sales or exchanges of capital assets and “Wisconsin modified taxable income" may not be less than zero.

SB70-SSA2-SA1,1073 Section 1073. 71.05 (8) (b) 2. of the statutes is repealed.

SB70-SSA2-SA1,1074 Section 1074. 71.05 (8) (c) of the statutes is repealed.

SB70-SSA2-SA1,1075 Section 1075. 71.80 (25) (a) of the statutes is renumbered 71.80 (25) and amended to read:

SB70-SSA2-SA1,497,5 71.80 (25) Net operating and business loss carry-forward and carry-back. No offset of Wisconsin income may be made under s. 71.05 (8) (b) 1., 71.26 (4) (a), or 71.45 (4) (a) unless the incurred loss was computed on a return that was filed within 4 years of the unextended due date for filing the original return for the taxable year in which the loss was incurred.

SB70-SSA2-SA1,1076 Section 1076. 71.80 (25) (b) of the statutes is repealed.

SB70-SSA2-SA1,9337 Section 9337. Initial applicability; Revenue.

SB70-SSA2-SA1,497,10 (1) Net operating losses. The treatment of ss. 71.05 (8) (a), (b) 1. and 2., and (c) and 71.80 (25) (a) and (b) first applies to taxable years beginning after December 31, 2022.”.

SB70-SSA2-SA1,497,11 187. Page 374, line 11: after that line insert:

SB70-SSA2-SA1,497,12 “ Section 1077. 71.05 (6) (b) 4. (intro.) of the statutes is amended to read:

SB70-SSA2-SA1,498,3 71.05 (6) (b) 4. (intro.) Disability For taxable years beginning before January 1, 2023, disability payments other than disability payments that are paid from a retirement plan, the payments from which are exempt under subd. subds. 54. and 54m. and sub. (1) (am) and (an), if the individual either is single or is married and files a joint return and is under 65 years of age before the close of the taxable year to which the subtraction relates, retired on disability, and, when the individual retired, was permanently and totally disabled. In this subdivision, “permanently and totally disabled" means an individual who is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. An individual shall not be considered permanently and totally disabled for purposes of this subdivision unless proof is furnished in such form and manner, and at such times, as prescribed by the department. The exclusion under this subdivision shall be determined as follows:

SB70-SSA2-SA1,1078 Section 1078. 71.05 (6) (b) 4m. of the statutes is created to read:

SB70-SSA2-SA1,498,18 71.05 (6) (b) 4m. For taxable years beginning after December 31, 2022, disability payments other than disability payments that are paid from a retirement plan, the payments from which are exempt under subds. 54. and 54m. and sub. (1) (am) and (an), if the individual is under 65 years of age before the close of the taxable year to which the subtraction relates, retired on disability, and, when the individual retired, was permanently and totally disabled. In this subdivision, “permanently and totally disabled" means an individual who is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. An individual shall not be considered permanently and totally disabled for purposes of this subdivision unless proof is furnished in such form and manner, and at such times, as prescribed by the department. The exclusion under this subdivision shall be determined as follows:

SB70-SSA2-SA1,498,22 a. If the individual is single or files as a head of household and the individual's federal adjusted gross income in the year to which the subtraction relates is less than $30,000, the maximum subtraction is $5,500 or the amount of disability pay reported as income, whichever is less.

SB70-SSA2-SA1,499,2 b. If the individual is married and is a joint filer and the couple's federal adjusted gross income in the year to which the subtraction relates is less than $60,000, the maximum subtraction is $5,500 per spouse that is disabled or the amount of disability pay reported as income, whichever is less.

SB70-SSA2-SA1,499,6 c. If the individual is married and files a separate return and the sum of both spouses' federal adjusted gross income in the year to which the subtraction relates is less than $60,000, the maximum subtraction is $5,500 or the amount of disability pay reported as income, whichever is less.”.

SB70-SSA2-SA1,499,7 188. Page 374, line 11: after that line insert: