Tax 3.095 Note
Note: Stripped general obligation bond certificates meeting the criteria of subd. 6. include Stripped Tax-Exempt Participations, or`STEPS.'
Tax 3.095(4)(a)7.
7. Virgin Island Housing Authority bonds issued on or prior to January 28, 1987, where the interest from the bonds qualifies for exemption from federal income taxation for a reason other than or in addition to section
103 of the internal revenue code.
Tax 3.095(4)(a)8.
8. WHEDA bonds issued on or prior to January 28, 1987, except business development revenue bonds, economic development revenue bonds and CHAP housing revenue bonds issued by WHEDA.
Tax 3.095(4)(a)10.
10. WHEDA bonds issued under s.
234.65, Stats., to fund an economic development loan to finance construction, renovation or development of property that would be exempt under s.
70.11 (36), Stats.
Tax 3.095(4)(a)12.
12. WHEDA bonds or notes issued under s.
234.08 or
234.61, Stats., on or after January 1, 2004, if the bonds or notes are issued to fund multifamily affordable housing projects or elderly housing projects.
Tax 3.095(4)(a)18.
18. Wisconsin Health and Educational Facilities Authority bonds or notes issued under s.
231.03 (6), Stats., on or after October 27, 2007, if the proceeds from the bonds or notes that are issued are used by a health facility, as defined in s.
231.01 (5), Stats., to fund the acquisition of information technology hardware or software.
Tax 3.095(4)(a)19.
19. Bonds or notes issued by a commission created under s.
66.0304, Stats., if any of the following applies:
Tax 3.095(4)(a)19.a.
a. The bonds or notes are used to fund multifamily affordable housing projects or elderly housing projects in this state, and WHEDA has the authority to issue its bonds or notes for the project being funded.
Tax 3.095(4)(a)19.b.
b. The bonds or notes are used by a health facility, as defined in s.
231.01 (5), Stats., to fund the acquisition of information technology hardware or software, in this state, and the Wisconsin Health and Educational Facilities Authority has the authority to issue its bonds or notes for the project being funded.
Tax 3.095(4)(a)19.c.
c. The bonds or notes are issued to fund a redevelopment project in this state or a housing project in this state, and the authority exists for bonds or notes to be issued by an entity described under s.
66.1201,
66.1333, or
66.1335, Stats.
Tax 3.095(4)(a)20.
20. WHEDA bonds or notes, if the bonds or notes are issued to provide loans to a public affairs network under s.
234.75 (4), Stats.
Tax 3.095(4)(a)21.
21. WHEFA bonds or notes, if the bonds or notes are issued for the benefit of a person who is eligible to receive the proceeds of bonds or notes from another entity for the same purpose for which the bonds or notes are issued and the interest income received from the other bonds or notes is exempt from taxation under subch.
I of ch. 71, Stats.
Tax 3.095 Note
Note: Under par. (a), interest and dividends payable on certain securities issued on or before January 28, 1987, is exempt from Wisconsin income tax. This is because prior to enactment of
1987 Wis. Act 27, which amended s. 71.05 (1) (a) 1., 1985 Stats., effective with securities issued after January 28, 1987, no modification was provided to add to federal adjusted gross income interest and dividends which were excludable from federal adjusted gross income for any reason other than or in addition to s. 103 of the internal revenue code. Section 71.05 (1) (a) 1., 1985 Stats., was renumbered s. 71.05 (6) (a) 1., Stats., by
1987 Wis. Act 312, effective January 1, 1989.
Tax 3.095(4)(b)3.
3. Bank repurchase agreements for U.S. Government treasury bills, notes and bonds, if interest is paid by the federal government directly to the taxpayer.
Tax 3.095(4)(b)21r.
21r. Northern Mariana Islands,
48 USC 1801 and s. 607 (a) of the Covenant to Establish a Commonwealth of the Northern Mariana Islands.
Tax 3.095 Note
Note: Proprietary zero-coupon certificates include CATS, TIGRs, Cougars, ETRs, Lions, STARs, Zebras, etc.
Tax 3.095(5)
(5)
Taxable securities. Interest and dividends payable on the following securities shall be subject to the Wisconsin income tax on individuals and fiduciaries:
Tax 3.095(5)(a)2.
2. District of Columbia general obligation bonds issued after January 28, 1987, D.C. Code 47-33.
Tax 3.095(5)(a)4.
4. Public housing agency bonds issued after January 28, 1987, and by agencies located outside Wisconsin. Public housing agency bonds issued on or prior to January 28, 1987, by agencies located outside Wisconsin where the interest from the bonds qualifies for exemption from federal income taxation solely because of section
103 of the internal revenue code.
Tax 3.095(5)(a)6.
6. Transit bonds of the Washington Metropolitan Area Transit Authority.
Tax 3.095(5)(a)8.
8. WHEDA bonds issued after January 28, 1987, and all business development revenue bonds, economic development revenue bonds and CHAP housing revenue bonds issued by WHEDA, regardless of when issued, unless specifically exempt by law, ch.
234, Stats.
