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LRBa1004/1
JK:amn
2021 - 2022 LEGISLATURE
ASSEMBLY AMENDMENT 1,
TO ASSEMBLY BILL 519
November 29, 2021 - Offered by Representative Krug.
AB519-AA1,1,11 At the locations indicated, amend the bill as follows:
AB519-AA1,1,2 21. Page 2, line 8: after that line insert:
AB519-AA1,1,4 3 Section 1m. 71.83 (1) (a) 6. of the statutes, as affected by 2021 Wisconsin Act
41
, is amended to read:
AB519-AA1,1,105 71.83 (1) (a) 6. `Retirement plans.' Any natural person who is liable for a
6penalty for federal income tax purposes under section 72 (m) (5), (q), (t), and (v), 4973,
74974, 4975, or 4980A of the Internal Revenue Code is liable for 33 percent of the
8federal penalty unless the income received is exempt from taxation under s. 71.05
9(1) (a), (am), or (an) or (6) (b) 54. The penalties provided under this subdivision shall
10be assessed, levied, and collected in the same manner as income or franchise taxes.”.
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