AB1: Bill Text

AB1,19 Section 19. 71.06 (2) (Lm) of the statutes is created to read:

AB1,,59 71.06 (2) (Lm) For married persons filing separately, for taxable years beginning after December 31, 2023, and before January 1, 2025:

AB1,,60 1. On all taxable income from $0 to $5,000, 3.40 percent.

AB1,,61 2. On all taxable income exceeding $5,000 but not exceeding $10,000, 3.95 percent.

AB1,,62 3. On all taxable income exceeding $10,000 but not exceeding $150,000, 4.28 percent.

AB1,,63 4. On all taxable income exceeding $150,000, 5.45 percent.

AB1,20 Section 20. 71.06 (2) (Lm) of the statutes, as created by 2023 Wisconsin Act .... (this act), is repealed.

AB1,21 Section 21. 71.06 (2) (m) of the statutes is created to read:

AB1,,66 71.06 (2) (m) For joint returns, for taxable years beginning after December 31, 2024, and before January 1, 2026:

AB1,,67 1. On all taxable income from $0 to $10,000, 3.32 percent.

AB1,,68 2. On all taxable income exceeding $10,000 but not exceeding $20,000, 3.60 percent.

AB1,,69 3. On all taxable income exceeding $20,000 but not exceeding $300,000, 3.76 percent.

AB1,,70 4. On all taxable income exceeding $300,000, 4.35 percent.

AB1,22 Section 22. 71.06 (2) (m) of the statutes, as created by 2023 Wisconsin Act .... (this act), is repealed.

AB1,23 Section 23. 71.06 (2) (mm) of the statutes is created to read:

AB1,,73 71.06 (2) (mm) For married persons filing separately, for taxable years beginning after December 31, 2024, and before January 1, 2026:

AB1,,74 1. On all taxable income from $0 to $5,000, 3.32 percent.

AB1,,75 2. On all taxable income exceeding $5,000 but not exceeding $10,000, 3.60 percent.

AB1,,76 3. On all taxable income exceeding $10,000 but not exceeding $150,000, 3.76 percent.

AB1,,77 4. On all taxable income exceeding $150,000, 4.35 percent.

AB1,24 Section 24. 71.06 (2) (mm) of the statutes, as created by 2023 Wisconsin Act .... (this act), is repealed.

AB1,25 Section 25. 71.06 (2) (n) of the statutes is created to read:

AB1,,80 71.06 (2) (n) For joint returns and married persons filing separately, for taxable years beginning after December 31, 2025, on all taxable income 3.25 percent.

AB1,26 Section 26. 71.06 (2e) (a) of the statutes is amended to read:

AB1,,82 71.06 (2e) (a) For taxable years beginning after December 31, 1998, and before January 1, 2000, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1m) and (2) (c) and (d), and for taxable years beginning after December 31, 1999, and before January 1, 2023, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1n), (1p) (a) to (c), (1q) (a) and (b), and (2) (e), (f), (g) 1. to 3., (h) 1. to 3., (i) 1. and 2., and (j) 1. and 2., shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1997, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2000, and before January 1, 2002, the dollar amount in the top bracket under subs. (1p) (c) and (d), (2) (g) 3. and 4. and (h) 3. and 4. shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1999, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,27 Section 27. 71.06 (2e) (a) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,84 71.06 (2e) (a) For taxable years beginning after December 31, 1998, and before January 1, 2000, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1m) and (2) (c) and (d), and for taxable years beginning after December 31, 1999, and before January 1, 2023, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1n), (1p) (a) to (c), (1q) (a) and (b), and (2) (e), (f), (g) 1. to 3., and (h) 1. to 3., (i) 1. and 2., and (j) 1. and 2., shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1997, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2000, and before January 1, 2002, the dollar amount in the top bracket under subs. (1p) (c) and (d), (2) (g) 3. and 4. and (h) 3. and 4. shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1999, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,28 Section 28. 71.06 (2e) (b) of the statutes is amended to read:

AB1,,86 71.06 (2e) (b) For taxable years beginning after December 31, 2009, and before January 1, 2023, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1p) (d), (1q) (c), and (2) (g) 4., (h) 4., (i) 3., and (j) 3., and the dollar amount in the top bracket under subs. (1p) (e), (1q) (d), and (2) (g) 5., (h) 5., (i) 4., and (j) 4., shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2008, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,29 Section 29. 71.06 (2e) (b) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,88 71.06 (2e) (b) For taxable years beginning after December 31, 2009, and before January 1, 2023, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1p) (d), (1q) (c), and (2) (g) 4., and (h) 4., (i) 3., and (j) 3., and the dollar amount in the top bracket under subs. (1p) (e), (1q) (d), and (2) (g) 5., and (h) 5., (i) 4., and (j) 4., shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2008, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,30 Section 30. 71.06 (2e) (be) of the statutes is created to read:

AB1,,90 71.06 (2e) (be) 1. For taxable years beginning after December 31, 2022, and before January 1, 2024, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1r) (a) 1. and 2. and (2) (k) 1. and 2. and (km) 1. and 2., shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1997, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,,91 2. For taxable years beginning after December 31, 2022, and before January 1, 2024, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1r) (a) 3. and (2) (k) 3. and (km) 3., and the dollar amount in the top bracket under subs. (1r) (a) 4. and (2) (k) 4. and (km) 4., shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2008, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,31 Section 31. 71.06 (2e) (be) of the statutes, as created by 2023 Wisconsin Act .... (this act), is repealed.

AB1,32 Section 32. 71.06 (2e) (bm) of the statutes is created to read:

AB1,,94 71.06 (2e) (bm) 1. For taxable years beginning after December 31, 2023, and before January 1, 2025, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1r) (b) 1. and 2. and (2) (L) 1. and 2. and (Lm) 1. and 2., shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1997, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,,95 2. For taxable years beginning after December 31, 2023, and before January 1, 2025, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1r) (b) 3. and (2) (L) 3. and (Lm) 3., and the dollar amount in the top bracket under subs. (1r) (b) 4. and (2) (L) 4. and (Lm) 4., shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2008, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,33 Section 33. 71.06 (2e) (bm) of the statutes, as created by 2023 Wisconsin Act .... (this act), is repealed.

AB1,34 Section 34. 71.06 (2e) (bs) of the statutes is created to read:

AB1,,98 71.06 (2e) (bs) 1. For taxable years beginning after December 31, 2024, and before January 1, 2026, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1r) (c) 1. and 2. and (2) (m) 1. and 2. and (mm) 1. and 2., shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1997, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,,99 2. For taxable years beginning after December 31, 2024, and before January 1, 2026, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1r) (c) 3. and (2) (m) 3. and (mm) 3., and the dollar amount in the top bracket under subs. (1r) (c) 4. and (2) (m) 4. and (mm) 4., shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2008, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB1,35 Section 35. 71.06 (2e) (bs) of the statutes, as created by 2023 Wisconsin Act .... (this act), is repealed.

AB1,36 Section 36. 71.06 (2m) of the statutes is amended to read:

AB1,,102 71.06 (2m) Rate changes. If a rate under sub. (1), (1m), (1n), (1p), (1q), (1r), or (2) changes during a taxable year, the taxpayer shall compute the tax for that taxable year by the methods applicable to the federal income tax under section 15 of the Internal Revenue Code.

AB1,37 Section 37. 71.06 (2m) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,104 71.06 (2m) Rate changes. If a rate under sub. (1), (1m), (1n), (1p), (1q), (1r), or (2) changes during a taxable year, the taxpayer shall compute the tax for that taxable year by the methods applicable to the federal income tax under section 15 of the Internal Revenue Code.

AB1,38 Section 38. 71.06 (2s) (d) of the statutes is amended to read:

AB1,,106 71.06 (2s) (d) For taxable years beginning after December 31, 2000, and before January 1, 2023, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1p), (1q), and (2) (g), (h), (i), and (j) shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income and the denominator of which is federal adjusted gross income. In this paragraph, for married persons filing separately “adjusted gross income” means the separate adjusted gross income of each spouse, and for married persons filing jointly “adjusted gross income” means the total adjusted gross income of both spouses. If an individual and that individual’s spouse are not both domiciled in this state during the entire taxable year, the tax brackets under subs. (1p), (1q), and (2) (g), (h), (i), and (j) on a joint return shall be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.

AB1,39 Section 39. 71.06 (2s) (d) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,108 71.06 (2s) (d) For taxable years beginning after December 31, 2000, and before January 1, 2023, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1p), (1q), and (2) (g), and (h), (i), and (j) shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income and the denominator of which is federal adjusted gross income. In this paragraph, for married persons filing separately “adjusted gross income” means the separate adjusted gross income of each spouse, and for married persons filing jointly “adjusted gross income” means the total adjusted gross income of both spouses. If an individual and that individual’s spouse are not both domiciled in this state during the entire taxable year, the tax brackets under subs. (1p), (1q), and (2) (g), and (h), (i), and (j) on a joint return shall be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.

AB1,40 Section 40. 71.06 (2s) (e) of the statutes is created to read:

AB1,,110 71.06 (2s) (e) For taxable years beginning after December 31, 2022, and before January 1, 2024, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1r) (a) and (2) (k) and (km) shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income and the denominator of which is federal adjusted gross income. In this paragraph, for married persons filing separately “adjusted gross income” means the separate adjusted gross income of each spouse, and for married persons filing jointly “adjusted gross income” means the total adjusted gross income of both spouses. If an individual and that individual’s spouse are not both domiciled in this state during the entire taxable year, the tax brackets under subs. (1r) (a) and (2) (k) and (km) on a joint return shall be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.

AB1,41 Section 41. 71.06 (2s) (e) of the statutes, as created by 2023 Wisconsin Act .... (this act), is repealed.

AB1,42 Section 42. 71.06 (2s) (f) of the statutes is created to read:

AB1,,113 71.06 (2s) (f) For taxable years beginning after December 31, 2023, and before January 1, 2025, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1r) (b) and (2) (L) and (Lm) shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income and the denominator of which is federal adjusted gross income. In this paragraph, for married persons filing separately “adjusted gross income” means the separate adjusted gross income of each spouse, and for married persons filing jointly “adjusted gross income” means the total adjusted gross income of both spouses. If an individual and that individual’s spouse are not both domiciled in this state during the entire taxable year, the tax brackets under subs. (1r) (b) and (2) (L) and (Lm) on a joint return shall be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.

AB1,43 Section 43. 71.06 (2s) (f) of the statutes, as created by 2023 Wisconsin Act .... (this act), is repealed.

AB1,44 Section 44. 71.06 (2s) (g) of the statutes is created to read:

AB1,,116 71.06 (2s) (g) For taxable years beginning after December 31, 2024, and before January 1, 2026, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1r) (c) and (2) (m) and (mm) shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income and the denominator of which is federal adjusted gross income. In this paragraph, for married persons filing separately “adjusted gross income” means the separate adjusted gross income of each spouse, and for married persons filing jointly “adjusted gross income” means the total adjusted gross income of both spouses. If an individual and that individual’s spouse are not both domiciled in this state during the entire taxable year, the tax brackets under subs. (1r) (c) and (2) (m) and (mm) on a joint return shall be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.

AB1,45 Section 45. 71.06 (2s) (g) of the statutes, as created by 2023 Wisconsin Act .... (this act), is repealed.

AB1,46 Section 46. 71.125 (1) of the statutes is amended to read:

AB1,,119 71.125 (1) Except as provided in sub. (2), the tax imposed by this chapter on individuals and the rates under s. 71.06 (1), (1m), (1n), (1p), (1q), (1r), and (2) shall apply to the Wisconsin taxable income of estates or trusts, except nuclear decommissioning trust or reserve funds, and that tax shall be paid by the fiduciary.

AB1,47 Section 47. 71.125 (1) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,121 71.125 (1) Except as provided in sub. (2), the tax imposed by this chapter on individuals and the rates under s. 71.06 (1), (1m), (1n), (1p), (1q), (1r), and (2) shall apply to the Wisconsin taxable income of estates or trusts, except nuclear decommissioning trust or reserve funds, and that tax shall be paid by the fiduciary.

AB1,48 Section 48. 71.125 (2) of the statutes is amended to read:

AB1,,123 71.125 (2) Each electing small business trust, as defined in section 1361 (e) (1) of the Internal Revenue Code, is subject to tax at the highest rate under s. 71.06 (1), (1m), (1n), (1p), or (1q), or (1r), whichever taxable year is applicable, on its income as computed under section 641 of the Internal Revenue Code, as modified by s. 71.05 (6) to (12), (19) and (20).

AB1,49 Section 49. 71.125 (2) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,125 71.125 (2) Each electing small business trust, as defined in section 1361 (e) (1) of the Internal Revenue Code, is subject to tax at the highest rate under s. 71.06 (1), (1m), (1n), (1p), (1q), or (1r), whichever taxable year is applicable, on its income as computed under section 641 of the Internal Revenue Code, as modified by s. 71.05 (6) to (12), (19) and (20).

AB1,50 Section 50. 71.17 (6) of the statutes is amended to read:

AB1,,127 71.17 (6) Funeral trusts. If a qualified funeral trust makes the election under section 685 of the Internal Revenue Code for federal income tax purposes, that election applies for purposes of this chapter and each trust shall compute its own tax and shall apply the rates under s. 71.06 (1), (1m), (1n), (1p), or (1q), or (1r).

AB1,51 Section 51. 71.17 (6) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,129 71.17 (6) Funeral trusts. If a qualified funeral trust makes the election under section 685 of the Internal Revenue Code for federal income tax purposes, that election applies for purposes of this chapter and each trust shall compute its own tax and shall apply the rates under s. 71.06 (1), (1m), (1n), (1p), (1q), or (1r).

AB1,52 Section 52. 71.64 (9) (b) (intro.) of the statutes is amended to read:

AB1,,131 71.64 (9) (b) (intro.) The department shall from time to time adjust the withholding tables to reflect any changes in income tax rates, any applicable surtax or any changes in dollar amounts in s. 71.06 (1), (1m), (1n), (1p), (1q), (1r), and (2) resulting from statutory changes, except as follows:

AB1,53 Section 53. 71.64 (9) (b) (intro.) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,133 71.64 (9) (b) (intro.) The department shall from time to time adjust the withholding tables to reflect any changes in income tax rates, any applicable surtax or any changes in dollar amounts in s. 71.06 (1), (1m), (1n), (1p), (1q), (1r), and (2) resulting from statutory changes, except as follows:

AB1,54 Section 54. 71.67 (5) (a) of the statutes is amended to read:

AB1,,135 71.67 (5) (a) Wager winnings. A person holding a license to sponsor and manage races under s. 562.05 (1) (b) or (c) shall withhold from the amount of any payment of pari-mutuel winnings under s. 562.065 (3) (a) or (3m) (a) an amount determined by multiplying the amount of the payment by the highest rate applicable to individuals under s. 71.06 (1) (a) to (c), (1m), (1n), (1p), or (1q), or (1r) if the amount of the payment is more than $1,000.

AB1,55 Section 55. 71.67 (5) (a) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,137 71.67 (5) (a) Wager winnings. A person holding a license to sponsor and manage races under s. 562.05 (1) (b) or (c) shall withhold from the amount of any payment of pari-mutuel winnings under s. 562.065 (3) (a) or (3m) (a) an amount determined by multiplying the amount of the payment by the highest rate applicable to individuals under s. 71.06 (1) (a) to (c), (1m), (1n), (1p), (1q), or (1r) if the amount of the payment is more than $1,000.

AB1,56 Section 56. 71.67 (5m) of the statutes is amended to read:

AB1,,139 71.67 (5m) Withholding from payments to purchase assignment of lottery prize. A person that purchases an assignment of a lottery prize shall withhold from the amount of any payment made to purchase the assignment the amount that is determined by multiplying the amount of the payment by the highest rate applicable to individuals under s. 71.06 (1) (a) to (c), (1m), (1n), (1p), or (1q), or (1r). Subsection (5) (b), (c) and (d), as it applies to the amounts withheld under sub. (5) (a), applies to the amount withheld under this subsection.

AB1,57 Section 57. 71.67 (5m) of the statutes, as affected by 2023 Wisconsin Act .... (this act), is amended to read:

AB1,,141 71.67 (5m) Withholding from payments to purchase assignment of lottery prize. A person that purchases an assignment of a lottery prize shall withhold from the amount of any payment made to purchase the assignment the amount that is determined by multiplying the amount of the payment by the highest rate applicable to individuals under s. 71.06 (1) (a) to (c), (1m), (1n), (1p), (1q), or (1r). Subsection (5) (b), (c) and (d), as it applies to the amounts withheld under sub. (5) (a), applies to the amount withheld under this subsection.

AB1,58 Section 58. 73.03 (71) of the statutes is repealed.

AB1,59 Section 59. 73.03 (71) (c) 2. of the statutes is amended to read:

AB1,,144 73.03 (71) (c) 2. No later than October 20, 2020, the secretary of revenue shall certify and report the determinations made under pars. (a) 2. and (b) 2. to the secretary of the department of administration, the governor, the joint committee on finance, and the legislative audit bureau and specify with that certification and report that the new tax rates take effect for the taxable year beginning after December 31, 2019, and before January 1, 2021, and for each taxable year thereafter beginning after December 31, 2020, and before January 1, 2023, subject to par. (d) 2.

AB1,60 Section 60. 73.03 (71) (d) 2. of the statutes is amended to read:

AB1,,146 73.03 (71) (d) 2. The legislative audit bureau shall review the determinations reported under par. (c) 2. and report its findings to the joint legislative audit committee and the joint committee on finance no later than November 1, 2020. If the legislative audit bureau’s review of the determinations reported under par. (c) 2. results in a different calculation of the tax rates than that made under par. (b) 2., the joint committee on finance shall determine which tax rates to apply to the taxable year beginning after December 31, 2019, and before January 1, 2021, and to each taxable year thereafter beginning after December 31, 2020, and before January 1, 2023, and report its determination to the governor, the secretary of administration, and the secretary of revenue no later than November 10, 2020.