This is the preview version of the Wisconsin State Legislature site.
Please see http://docs.legis.wisconsin.gov for the production version.
LRBa0725/1
EKL:klm
2021 - 2022 LEGISLATURE
ASSEMBLY AMENDMENT 1,
TO ASSEMBLY BILL 327
July 21, 2021 - Offered by Representative Sortwell.
AB327-AA1,1,11 At the locations indicated, amend the bill as follows:
AB327-AA1,1,2 21. Page 2, line 3: delete “ending" and substitute “ beginning".
AB327-AA1,1,3 32. Page 3, line 2: after that line insert:
AB327-AA1,1,4 4 Section 3. 71.365 (4m) (d) 1. a. of the statutes is amended to read:
AB327-AA1,1,115 71.365 (4m) (d) 1. a. An For taxable years beginning after December 31, 2019,
6and before January 1, 2023, an
adjustment shall be made so that the net capital loss,
7after netting capital gains and capital losses to arrive at total capital gain or loss, is
8offset against income only to the extent of $500. Losses in excess of $500 shall be
9carried forward to the next taxable year for which an election is made under par. (a)
10and offset against income up to the limit under this subd. 1. a. Losses shall be used
11in the order in which they accrue.
AB327-AA1,4 12Section 4. 71.365 (4m) (d) 1. am. of the statutes is created to read:
AB327-AA1,2,7
171.365 (4m) (d) 1. am. For taxable years beginning after December 31, 2022,
2an adjustment shall be made so that the net capital loss, after netting capital gains
3and capital losses to arrive at total capital gain or loss, is offset against income only
4to the extent of $3,000. Losses in excess of $3,000 shall be carried forward to the next
5taxable year for which an election is made under par. (a) and offset against income
6up to the limit under this subd. 1. am. Losses shall be used in the order in which they
7accrue.”.
Loading...
Loading...