AB2-ASA2,38
20Section 38
. 71.07 (5) (a) 15. of the statutes is amended to read:
AB2-ASA2,20,221
71.07
(5) (a) 15. The amount claimed as a deduction for medical care insurance
22under section
213 of the Internal Revenue Code that is exempt from taxation under
23s. 71.05 (6) (b)
17. to 20. 19., 35.,
36., 37., 38.,
39., 40., 41., and 42. and the amount
24claimed as a deduction for a long-term care insurance policy under section
213 (d)
1(1) (D) of the Internal Revenue Code, as defined in section
7702B (b) of the Internal
2Revenue Code that is exempt from taxation under s. 71.05 (6) (b) 26.
AB2-ASA2,39
3Section
39. 71.07 (9m) (h) of the statutes is amended to read:
AB2-ASA2,20,154
71.07
(9m) (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
13the transferor in which the transfer occurs and may use the credit only to offset tax
14in taxable years otherwise allowed to be claimed and carried forward by the original
15claimant.
AB2-ASA2,40
16Section 40
. 71.22 (4) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
AB2-ASA2,41
17Section 41
. 71.22 (4) (j) 3. m. of the statutes is created to read:
AB2-ASA2,20,1918
71.22
(4) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q), 104 (a), and 109 of
19division U of P.L.
115-141.
AB2-ASA2,42
20Section 42
. 71.22 (4) (j) 3. n. of the statutes is created to read:
AB2-ASA2,20,2221
71.22
(4) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
22of division O of P.L.
116-94.
AB2-ASA2,43
23Section 43
. 71.22 (4) (k) 3. of the statutes is amended to read:
AB2-ASA2,21,424
71.22
(4) (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, sections
3101 (m), (n), (o), (p), and (q), 104 (a), and 109 of division U of 115-141; and section
4102 of division M and sections 110, 111, and 116 (b) of division O of P.L. 116-94.
AB2-ASA2,44
5Section 44
. 71.22 (4) (L) 1. of the statutes is amended to read:
AB2-ASA2,21,106
71.22
(4) (L) 1. For taxable years beginning after December 31, 2017,
and
7before January 1, 2021, “Internal Revenue Code" means the federal Internal
8Revenue Code as amended to December 31, 2017, except as provided in subds. 2. and
93. and subject to subd. 4., and except as provided in sub. (4m) and ss. 71.26 (2) (b) and
10(3), 71.34 (1g), 71.42 (2), and 71.98.
AB2-ASA2,45
11Section
45. 71.22 (4) (L) 3. of the statutes is amended to read:
AB2-ASA2,21,2312
71.22
(4) (L) 3. For purposes of this paragraph, “Internal Revenue Code" does
13not include amendments to the federal Internal Revenue Code enacted after
14December 31, 2017, except that “Internal Revenue Code” includes
sections 40307,
1540413, and 41113 of P.L. 115-123; sections 101 (m), (n), (o), (p), and (q), 104 (a), 109,
16401 (a) (54) and (b) (15) (A), (B), and (C), 19, 20, 23, 26, 27, and 28 of division U of P.L.
17115-141; sections 102 and 104 of division M, sections 102, 103, 106, 107, 108, 109,
18110, 111, 113, 114, 115, 116, 201, 204, 205, 206, 302, 401, and 601 of division O, section
191302 of division P, and sections 131, 202 (d), and 205 of division Q of P.L. 116-94; 20sections 1106, 2202, 2203, 2204, 2205, 2206, 2307, 3608, 3609, 3701, and 3702 of
21division A of P.L.
116-136; and sections 202, 208, 209, 211, and 214 of division EE and
22sections 276 (a) and (b), 277, 278 (a), (b), (c), and (d), 280, and 285 of division N of P.L.
23116-260.
AB2-ASA2,46
24Section 46
. 71.22 (4) (L) 4. of the statutes is amended to read:
AB2-ASA2,22,6
171.22
(4) (L) 4. For purposes of this paragraph, the provisions of federal public
2laws that directly or indirectly affect the Internal Revenue Code, as defined in this
3paragraph, apply for Wisconsin purposes at the same time as for federal purposes
,
4except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
513306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
6first apply for taxable years beginning after December 31, 2017.
AB2-ASA2,47
7Section 47
. 71.22 (4) (m) of the statutes is created to read:
AB2-ASA2,22,118
71.22
(4) (m) 1. For taxable years beginning after December 31, 2020, “Internal
9Revenue Code" means the federal Internal Revenue Code as amended to December
1031, 2020, except as provided in subds. 2. and 3. and subject to subd. 4., and except
11as provided in sub. (4m) and ss. 71.26 (2) (b) and (3), 71.34 (1g), 71.42 (2), and 71.98.
AB2-ASA2,23,1012
2. For purposes of this paragraph, “Internal Revenue Code" does not include
13the following provisions of federal public laws for taxable years beginning after
14December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
15106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
16109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
17P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
18110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
1915351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
20312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
211501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
22111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
23111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
24411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
25P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
1171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
213201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
313801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
414221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
540306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
6sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
7(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
8115-141; sections 104, 114, 115, 116, 130, and 145 of division Q of P.L.
116-94;
9sections 2304 and 2306 of P.L.
116-136; and sections 111, 114, 115, 116, 118 (a) and
10(d), 133, 137, 138, and 210 of division EE of P.L.
116-260.
AB2-ASA2,23,1211
3. For purposes of this paragraph, “Internal Revenue Code" does not include
12amendments to the federal Internal Revenue Code enacted after December 31, 2020.
AB2-ASA2,23,2313
4. For purposes of this paragraph, the provisions of federal public laws that
14directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
15apply for Wisconsin purposes at the same time as for federal purposes, except that
16changes made by sections 20101, 20102, 20104, 20201, 40201, 40202, 40203, 40308,
1740309, 40311, 40414, 41101, 41107, 41114, 41115, and 41116 of P.L.
115-123; section
18101 (a), (b), and (h) of division U of P.L.
115-141; section 1203 of P.L.
116-25; section
191122 of P.L.
116-92; section 301 of division O, section 1302 of division P, and sections
20101, 102, 103, 117, 118, 132, 201, 202 (a), (b), and (c), 204 (a), (b), and (c), 301, and
21302 of division Q of P.L.
116-94; section 2 of P.L.
116-98; and sections 301, 302, and
22304 of division EE of P.L.
116-260 apply for taxable years beginning after December
2331, 2020.
AB2-ASA2,48
24Section 48
. 71.22 (4m) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
AB2-ASA2,49
25Section 49
. 71.22 (4m) (j) 3. m. of the statutes is created to read:
AB2-ASA2,24,2
171.22
(4m) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q), 104 (a), and 109 of
2division U of P.L.
115-141.
AB2-ASA2,50
3Section 50
. 71.22 (4m) (j) 3. n. of the statutes is created to read:
AB2-ASA2,24,54
71.22
(4m) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
5of division O of P.L.
116-94.
AB2-ASA2,51
6Section 51
. 71.22 (4m) (k) 3. of the statutes is amended to read:
AB2-ASA2,24,127
71.22
(4m) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
8not include amendments to the federal Internal Revenue Code enacted after
9December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
1011025, and 13543 of P.L.
115-97; sections 40307 and 40413 of P.L. 115-123; sections
11101 (m), (n), (o), (p), and (q), 104 (a), and 109 of division U of P.L. 115-141; and section
12102 of division M and sections 110, 111, and 116 (b) of division O of P.L. 116-94.
AB2-ASA2,52
13Section 52
. 71.22 (4m) (L) 1. of the statutes is amended to read:
AB2-ASA2,24,1814
71.22
(4m) (L) 1. For taxable years beginning after December 31, 2017,
and
15before January 1, 2021, “Internal Revenue Code", for corporations that are subject
16to a tax on unrelated business income under s. 71.26 (1) (a), means the federal
17Internal Revenue Code as amended to December 31, 2017, except as provided in
18subds. 2. and 3. and s. 71.98 and subject to subd. 4.
AB2-ASA2,53
19Section
53. 71.22 (4m) (L) 3. of the statutes is amended to read:
AB2-ASA2,25,620
71.22
(4m) (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,
2340413, and 41113 of P.L. 115-123; sections 101 (m), (n), (o), (p), and (q), 104 (a), 109,
24401 (a) (54) and (b) (15) (A), (B), and (C), 19, 20, 23, 26, 27, and 28 of division U of P.L.
25115-141; sections 102 and 104 of division M, sections 102, 103, 106, 107, 108, 109,
1110, 111, 113, 114, 115, 116, 201, 204, 205, 206, 302, 401, and 601 of division O, section
21302 of division P, and sections 131, 202 (d), and 205 of division Q of P.L. 116-94;
3sections 1106, 2202, 2203, 2204, 2205, 2206, 2307, 3608, 3609, 3701, and 3702 of
4division A of P.L.
116-136; and sections 202, 208, 209, 211, and 214 of division EE and
5sections 276 (a) and (b), 277, 278 (a), (b), (c), and (d), 280, and 285 of division N of P.L.
6116-260.
AB2-ASA2,54
7Section 54
. 71.22 (4m) (L) 4. of the statutes is amended to read:
AB2-ASA2,25,138
71.22
(4m) (L) 4. For purposes of this paragraph, the provisions of federal
9public laws that directly or indirectly affect the Internal Revenue Code, as defined
10in this paragraph, apply for Wisconsin purposes at the same time as for federal
11purposes
, except that changes made by P.L. 115-63 and sections 11026, 11027, 11028,
1213207, 13306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L.
13115-97 first apply for taxable years beginning after December 31, 2017.
AB2-ASA2,55
14Section 55
. 71.22 (4m) (m) of the statutes is created to read:
AB2-ASA2,25,1915
71.22
(4m) (m) 1. For taxable years beginning after December 31, 2020,
16“Internal Revenue Code," for corporations that are subject to a tax on unrelated
17business income under s. 71.26 (1) (a), means the federal Internal Revenue Code as
18amended to December 31, 2020, except as provided in subds. 2. and 3. and s. 71.98
19and subject to subd. 4.
AB2-ASA2,26,1820
2. For purposes of this paragraph, “Internal Revenue Code" does not include
21the following provisions of federal public laws for taxable years beginning after
22December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
23106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
24109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
25P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
1110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
215351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
3312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
41501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
5111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
6111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
7411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
8P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
9171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
1013201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
1113801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
1214221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
1340306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
14sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
15(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
16115-141; sections 104, 114, 115, 116, 130, and 145 of division Q of P.L.
116-94;
17sections 2304 and 2306 of P.L.
116-136; and sections 111, 114, 115, 116, 118 (a) and
18(d), 133, 137, 138, and 210 of division EE of P.L.
116-260.
AB2-ASA2,26,2019
3. For purposes of this paragraph, “Internal Revenue Code" does not include
20amendments to the federal Internal Revenue Code enacted after December 31, 2020.
AB2-ASA2,27,621
4. For purposes of this paragraph, the provisions of federal public laws that
22directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
23apply for Wisconsin purposes at the same time as for federal purposes, except that
24changes made by sections 20101, 20102, 20104, 20201, 40201, 40202, 40203, 40308,
2540309, 40311, 40414, 41101, 41107, 41114, 41115, and 41116 of P.L.
115-123; section
1101 (a), (b), and (h) of division U of P.L.
115-141; section 1203 of P.L.
116-25; section
21122 of P.L.
116-92; section 301 of division O, section 1302 of division P, and sections
3101, 102, 103, 117, 118, 132, 201, 202 (a), (b), and (c), 204 (a), (b), and (c), 301, and
4302 of division Q of P.L.
116-94; section 2 of P.L.
116-98; and sections 301, 302, and
5304 of division EE of P.L.
116-260 apply for taxable years beginning after December
631, 2020.
AB2-ASA2,56
7Section 56
. 71.22 (5g) of the statutes is created to read:
AB2-ASA2,27,98
71.22
(5g) For purposes of s. 71.22 (4) (b) and (4m) (b), 2013 stats., “Internal
9Revenue Code" includes section 109 of division U of P.L.
115-141.
AB2-ASA2,57
10Section
57. 71.26 (2) (a) 13. of the statutes is created to read:
AB2-ASA2,27,1411
71.26
(2) (a) 13. For taxable years beginning after December 31, 2018, plus the
12amount of the deductions in excess of $250,000 for expenses paid or incurred in the
13taxable year directly or indirectly from forgiven loans under sections 276 (a) and (b)
14and 278 (a) of Division N of P.L.
116-260.
AB2-ASA2,58
15Section 58
. 71.26 (2) (b) 3., 4., 5., 6., 7., 8. and 9. of the statutes are repealed.
AB2-ASA2,59
16Section 59
. 71.26 (2) (b) 10. d. of the statutes is amended to read:
AB2-ASA2,28,217
71.26
(2) (b) 10. d. For purposes of subd. 10. a., “Internal Revenue Code" does
18not include amendments to the federal Internal Revenue Code enacted after
19December 31, 2013, except that “Internal Revenue Code" includes the provisions of
20P.L.
113-97, P.L.
113-159, P.L.
113-168, section 302901 of P.L.
113-287, sections 171,
21172, and 201 to 221 of P.L.
113-295, sections 102, 105, and 207 of division B of P.L.
22113-295, P.L.
114-14, P.L.
114-26, section 2004 of P.L.
114-41, sections 503 and 504
23of P.L.
114-74, sections 103, 104, 124, 168, 184, 185, 190, 204, 303, 306, 336, and 341
24of division Q of P.L.
114-113,
and P.L.
114-239
, sections 101 (m), (n), (o), (p), and (q),
1104 (a), and 109 of division U of P.L. 115-141, and section 102 of division M and
2sections 110, 111, and 116 (b) of division O of P.L. 116-94.
AB2-ASA2,60
3Section 60
. 71.26 (2) (b) 11. d. of the statutes is amended to read:
AB2-ASA2,28,94
71.26
(2) (b) 11. d. For purposes of subd. 11. a., “Internal Revenue Code" does
5not include amendments to the federal Internal Revenue Code enacted after
6December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
711025, and 13543 of P.L.
115-97; sections 40307 and 40413 of P.L. 115-123; sections
8101 (m), (n), (o), (p), and (q), 104 (a), and 109 of division U of P.L. 115-141; and section
9102 of division M and sections 110, 111, and 116 (b) of division O of P.L. 116-94.
AB2-ASA2,61
10Section 61
. 71.26 (2) (b) 12. a. of the statutes is amended to read:
AB2-ASA2,28,1911
71.26
(2) (b) 12. a. For taxable years beginning after December 31, 2017,
and
12before January 1, 2021, for a corporation, conduit, or common law trust which
13qualifies as a regulated investment company, real estate mortgage investment
14conduit, real estate investment trust, or financial asset securitization investment
15trust under the Internal Revenue Code, “net income" means the federal regulated
16investment company taxable income, federal real estate mortgage investment
17conduit taxable income, federal real estate investment trust or financial asset
18securitization investment trust taxable income of the corporation, conduit, or trust
19as determined under the Internal Revenue Code.
AB2-ASA2,62
20Section
62. 71.26 (2) (b) 12. d. of the statutes is amended to read:
AB2-ASA2,29,721
71.26
(2) (b) 12. d. For purposes of subd. 12. a., “Internal Revenue Code" does
22not include amendments to the federal Internal Revenue Code enacted after
23December 31, 2017, except that “Internal Revenue Code” includes
sections 40307,
2440413, and 41113 of P.L. 115-123; sections 101 (m), (n), (o), (p), and (q), 104 (a), 109,
25401 (a) (54) and (b) (15) (A), (B), and (C), 19, 20, 23, 26, 27, and 28 of division U of P.L.
1115-141; sections 102 and 104 of division M, sections 102, 103, 106, 107, 108, 109,
2110, 111, 113, 114, 115, 116, 201, 204, 205, 206, 302, 401, and 601 of division O, section
31302 of division P, and sections 131, 202 (d), and 205 of division Q of P.L. 116-94; 4sections 1106, 2202, 2203, 2204, 2205, 2206, 2307, 3608, 3609, 3701, and 3702 of
5division A of P.L.
116-136; and sections 202, 208, 209, 211, and 214 of division EE and
6sections 276 (a) and (b), 277, 278 (a), (b), (c), and (d), 280, and 285 of division N of P.L.
7116-260.
AB2-ASA2,63
8Section 63
. 71.26 (2) (b) 12. e. of the statutes is amended to read:
AB2-ASA2,29,149
71.26
(2) (b) 12. e. For purposes of subd. 12. a., the provisions of federal public
10laws that directly or indirectly affect the Internal Revenue Code, as defined in this
11subdivision, apply for Wisconsin purposes at the same time as for federal purposes
,
12except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
1313306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
14first apply for taxable years beginning after December 31, 2017.
AB2-ASA2,64
15Section 64
. 71.26 (2) (b) 13. of the statutes is created to read:
AB2-ASA2,29,2316
71.26
(2) (b) 13. a. For taxable years beginning after December 31, 2020, for a
17corporation, conduit, or common law trust that qualifies as a regulated investment
18company, real estate mortgage investment conduit, real estate investment trust, or
19financial asset securitization investment trust under the Internal Revenue Code,
20“net income" means the federal regulated investment company taxable income,
21federal real estate mortgage investment conduit taxable income, federal real estate
22investment trust, or financial asset securitization investment trust taxable income
23of the corporation, conduit, or trust as determined under the Internal Revenue Code.
AB2-ASA2,30,3
1b. For purposes of subd. 13. a., “Internal Revenue Code" means the federal
2Internal Revenue Code as amended to December 31, 2020, except as provided in
3subd. 13. c. and d. and s. 71.98 and subject to subd. 13. e.
AB2-ASA2,31,24
c. For purposes of subd. 13. a., “Internal Revenue Code" does not include the
5following provisions of federal public laws for taxable years beginning after
6December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
7106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
8109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
9P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
10110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
1115351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
12312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
131501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
14111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
15111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
16411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
17P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
18171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
1913201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
2013801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
2114221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
2240306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
23sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
24(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
25115-141; sections 104, 114, 115, 116, 130, and 145 of division Q of P.L.
116-94;
1sections 2304 and 2306 of P.L.
116-136; and sections 111, 114, 115, 116, 118 (a) and
2(d), 133, 137, 138, and 210 of division EE of P.L.
116-260.
AB2-ASA2,31,43
d. For purposes of subd. 13. a., “Internal Revenue Code" does not include
4amendments to the federal Internal Revenue Code enacted after December 31, 2020.
AB2-ASA2,31,155
e. For purposes of subd. 13. a., the provisions of federal public laws that directly
6or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply
7for Wisconsin purposes at the same time as for federal purposes, except that changes
8made by sections 20101, 20102, 20104, 20201, 40201, 40202, 40203, 40308, 40309,
940311, 40414, 41101, 41107, 41114, 41115, and 41116 of P.L.
115-123; section 101 (a),
10(b), and (h) of division U of P.L.
115-141; section 1203 of P.L.
116-25; section 1122 of
11P.L.
116-92; section 301 of division O, section 1302 of division P, and sections 101,
12102, 103, 117, 118, 132, 201, 202 (a), (b), and (c), 204 (a), (b), and (c), 301, and 302 of
13division Q of P.L.
116-94; section 2 of P.L.
116-98; and sections 301, 302, and 304 of
14division EE of P.L.
116-260 apply for taxable years beginning after December 31,
152020.
AB2-ASA2,65
16Section 65
. 71.26 (2) (b) 14. of the statutes is created to read:
AB2-ASA2,31,1817
71.26
(2) (b) 14. For purposes of s. 71.26 (2) (b) 2., 2013 stats., “Internal Revenue
18Code" includes section 109 of division U of P.L.
115-141.
AB2-ASA2,66
19Section
66. 71.26 (3) (ag) of the statutes is renumbered 71.26 (3) (ag) (intro.)
20and amended to read:
AB2-ASA2,31,2221
71.26
(3) (ag) (intro.) Section 61 (relating to the definition of gross income) is
22modified to exclude
income the following:
AB2-ASA2,32,3
231. Income received by the original policyholder or original certificate holder
24who has a catastrophic or life-threatening illness or condition from the sale of a life
25insurance policy or certificate, or the sale of the death benefit under a life insurance
1policy or certificate, under a life settlement contract, as defined in s. 632.69 (1) (k).
2In this paragraph, “catastrophic or life-threatening illness or condition" includes
3AIDS, as defined in s. 49.686 (1) (a), and HIV infection, as defined in s. 49.686 (1) (d).
AB2-ASA2,67
4Section
67. 71.26 (3) (ag) 2. of the statutes is created to read:
AB2-ASA2,32,55
71.26
(3) (ag) 2. Income received in the form of a grant issued under s. 73.135.
AB2-ASA2,68
6Section
68. 71.26 (3) (L) of the statutes is amended to read:
AB2-ASA2,32,247
71.26
(3) (L) Section 265 is excluded and replaced by the rule that any amount
8otherwise deductible under this chapter that is directly or indirectly related to
9income wholly exempt from taxes imposed by this chapter or to losses from the sale
10or other disposition of assets the gain from which would be exempt under this
11paragraph if the assets were sold or otherwise disposed of at a gain is not deductible.
12In this paragraph, “wholly exempt income", for corporations subject to franchise or
13income taxes, includes amounts received from affiliated or subsidiary corporations
14for interest, dividends or capital gains that, because of the degree of common
15ownership, control or management between the payor and payee, are not subject to
16taxes under this chapter. In this paragraph, “wholly exempt income", for
17corporations subject to income taxation under this chapter, also includes interest on
18obligations of the United States. In this paragraph, “wholly exempt income" does not
19include income excludable, not recognized, exempt or deductible under specific
20provisions of this chapter. If any expense or amount otherwise deductible is
21indirectly related both to wholly exempt income or loss and to other income or loss,
22a reasonable proportion of the expense or amount shall be allocated to each type of
23income or loss, in light of all the facts and circumstances.
This paragraph does not
24apply to the exclusion under par. (ag) 2.
AB2-ASA2,69
25Section
69. 71.28 (6) (h) of the statutes is amended to read:
AB2-ASA2,33,12
171.28
(6) (h) Any person, including a nonprofit entity described in section
501 2(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
3par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
4imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
5transfer, and submits with the notification a copy of the transfer documents, and the
6department certifies ownership of the credit with each transfer.
The transferor may
7file a claim for more than one taxable year on a form prescribed by the department
8to compute all years of the credit under par. (a) 2m. or 3., at the time of the transfer
9request. The transferee may first use the credit to offset tax in the taxable year of the
10transferor in which the transfer occurs, and may use the credit only to offset tax in
11taxable years otherwise allowed to be claimed and carried forward by the original
12claimant.
AB2-ASA2,70
13Section 70
. 71.34 (1g) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
AB2-ASA2,71
14Section 71
. 71.34 (1g) (j) 3. m. of the statutes is created to read:
AB2-ASA2,33,1615
71.34
(1g) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q), 104 (a), and 109 of
16division U of P.L.
115-141.
AB2-ASA2,72
17Section 72
. 71.34 (1g) (j) 3. n. of the statutes is created to read:
AB2-ASA2,33,1918
71.34
(1g) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
19of division O of P.L.
116-94.
AB2-ASA2,73
20Section 73
. 71.34 (1g) (k) 3. of the statutes is amended to read:
AB2-ASA2,34,221
71.34
(1g) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
22not include amendments to the federal Internal Revenue Code enacted after
23December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
2411025, and 13543 of P.L.
115-97; sections 40307 and 40413 of P.L. 115-123; sections
1101 (m), (n), (o), (p), and (q), 104 (a), and 109 of division U of P.L. 115-141; and section
2102 of division M and sections 110, 111, and 116 (b) of division O of P.L. 116-94.
AB2-ASA2,74
3Section 74
. 71.34 (1g) (L) 1. of the statutes is amended to read:
AB2-ASA2,34,74
71.34
(1g) (L) 1. For taxable years beginning after December 31, 2017,
and
5before January 1, 2021, for tax option corporations, “Internal Revenue Code" means
6the federal Internal Revenue Code as amended to December 31, 2017, except as
7provided in subds. 2., 3., and 5. and s. 71.98 and subject to subd. 4.
AB2-ASA2,75
8Section
75. 71.34 (1g) (L) 3. of the statutes is amended to read:
AB2-ASA2,34,209
71.34
(1g) (L) 3. For purposes of this paragraph, “Internal Revenue Code" does
10not include amendments to the federal Internal Revenue Code enacted after
11December 31, 2017, except that “Internal Revenue Code” includes
sections 40307,
1240413, and 41113 of P.L. 115-123; sections 101 (m), (n), (o), (p), and (q), 104 (a), 109,
13401 (a) (54) and (b) (15) (A), (B), and (C), 19, 20, 23, 26, 27, and 28 of division U of P.L.
14115-141; sections 102 and 104 of division M, sections 102, 103, 106, 107, 108, 109,
15110, 111, 113, 114, 115, 116, 201, 204, 205, 206, 302, 401, and 601 of division O, section
161302 of division P, and sections 131, 202 (d), and 205 of division Q of P.L. 116-94; 17sections 1106, 2202, 2203, 2204, 2205, 2206, 2307, 3608, 3609, 3701, and 3702 of
18division A of P.L.
116-136; and sections 202, 208, 209, 211, and 214 of division EE and
19sections 276 (a) and (b), 277, 278 (a), (b), (c), and (d), 280, and 285 of division N of P.L.
20116-260.
AB2-ASA2,76
21Section 76
. 71.34 (1g) (L) 4. of the statutes is amended to read:
AB2-ASA2,35,222
71.34
(1g) (L) 4. For purposes of this paragraph, the provisions of federal public
23laws that directly or indirectly affect the Internal Revenue Code, as defined in this
24paragraph, apply for Wisconsin purposes at the same time as for federal purposes
,
25except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
113306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
2first apply for taxable years beginning after December 31, 2017.
AB2-ASA2,77
3Section 77
. 71.34 (1g) (m) of the statutes is created to read:
AB2-ASA2,35,74
71.34
(1g) (m) 1. For taxable years beginning after December 31, 2020, for tax
5option corporations, “Internal Revenue Code" means the federal Internal Revenue
6Code as amended to December 31, 2020, except as provided in subds. 2., 3., and 5. and
7s. 71.98 and subject to subd. 4.
AB2-ASA2,36,68
2. For purposes of this paragraph, “Internal Revenue Code" does not include
9the following provisions of federal public laws for taxable years beginning after
10December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
11106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
12109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
13P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
14110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
1515351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
16312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
171501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
18111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
19111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
20411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
21P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
22171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
2313201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
2413801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
2514221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
140306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
2sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
3(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
4115-141; sections 104, 114, 115, 116, 130, and 145 of division Q of P.L.
116-94;
5sections 2304 and 2306 of P.L.
116-136; and sections 111, 114, 115, 116, 118 (a) and
6(d), 133, 137, 138, and 210 of division EE of P.L.
116-260.
AB2-ASA2,36,87
3. For purposes of this paragraph, “Internal Revenue Code" does not include
8amendments to the federal Internal Revenue Code enacted after December 31, 2020.