This is the preview version of the Wisconsin State Legislature site.
Please see http://docs.legis.wisconsin.gov for the production version.
AB68-SSA1,690,33 b. The 1099 form issued by the financial institution that relates to the account.
AB68-SSA1,690,54 c. A list of eligible costs, and other costs, for which funds from the account were
5withdrawn during the taxable year to which the return relates.
AB68-SSA1,690,106 4. An account holder may withdraw funds from an account created under par.
7(b) 1. with no penalty due under s. 71.83 (1) (ch) and no responsibility to make an
8addition under s. 71.05 (6) (a) 30. if he or she immediately transfers the funds to a
9different financial institution and deposits the funds into an account created under
10par. (b) 1. at that financial institution.
AB68-SSA1,690,1311 (d) Limitations on accounts, dissolution. 1. An account holder may not claim
12a subtraction under s. 71.05 (6) (b) 55. for more than a total of $50,000 of deposits into
13any account created under par. (b) 1. for each beneficiary.
AB68-SSA1,690,1614 2. An account holder shall dissolve an account created under par. (b) 1. no later
15than 120 months after it is created. The financial institution shall distribute any
16funds in the account at dissolution to the account holder.
AB68-SSA1,690,1917 3. If an account holder dies while funds remain in an account created under par.
18(b) 1., the account shall be dissolved and the financial institution shall distribute the
19funds to the account holder's estate.
AB68-SSA1,690,2020 (e) Department responsibilities. The department shall:
AB68-SSA1,690,2321 1. Prepare and distribute any forms that an account holder is required to
22submit under par. (c) 3. and any other forms necessary to administer this subsection
23and the adjustments to income under s. 71.05 (6) (a) 30. and (b) 55.
AB68-SSA1,690,2524 2. Prepare and distribute to financial institutions and potential homebuyers
25informational materials about the accounts described in this subsection.
AB68-SSA1,1354
1Section 1354. 71.125 (1) of the statutes is amended to read:
AB68-SSA1,691,52 71.125 (1) Except as provided in sub. (2), the tax imposed by this chapter on
3individuals and the rates under s. 71.06 (1), (1m), (1n), (1p), (1q), (1r), and (2) shall
4apply to the Wisconsin taxable income of estates or trusts, except nuclear
5decommissioning trust or reserve funds, and that tax shall be paid by the fiduciary.
AB68-SSA1,1355 6Section 1355. 71.125 (2) of the statutes is amended to read:
AB68-SSA1,691,117 71.125 (2) Each electing small business trust, as defined in section 1361 (e) (1)
8of the Internal Revenue Code, is subject to tax at the highest rate under s. 71.06 (1),
9(1m), (1n), (1p), or (1q), or (1r), whichever taxable year is applicable, on its income
10as computed under section 641 of the Internal Revenue Code, as modified by s. 71.05
11(6) to (12), (19) and (20).
AB68-SSA1,1356 12Section 1356. 71.17 (6) of the statutes is amended to read:
AB68-SSA1,691,1613 71.17 (6) Funeral trusts. If a qualified funeral trust makes the election under
14section 685 of the Internal Revenue Code for federal income tax purposes, that
15election applies for purposes of this chapter and each trust shall compute its own tax
16and shall apply the rates under s. 71.06 (1), (1m), (1n), (1p), or (1q), or (1r).”.
AB68-SSA1,1357 17Section 1357. 71.26 (3) (j) of the statutes is amended to read:
AB68-SSA1,692,218 71.26 (3) (j) Sections 243, 244, 245, 245A, 246 and 246A are excluded and
19replaced by the rule that corporations may deduct from income dividends received
20from a corporation with respect to its common stock if the corporation receiving the
21dividends owns, directly or indirectly, during the entire taxable year at least 70
22percent of the total combined voting stock of the payor corporation. In this
23paragraph, “dividends received" means gross dividends minus taxes on those
24dividends paid to a foreign nation and claimed as a deduction under this chapter. The

1same dividends may not be deducted more than once and may not be used in the
2determination of a net business loss under ss. 71.26 (4) and 71.45 (4)
.
AB68-SSA1,1358 3Section 1358. 71.26 (4) (a) of the statutes is amended to read:
AB68-SSA1,692,214 71.26 (4) (a) Except as provided in par. (b) and s. 71.80 (25), a corporation,
5except a tax-option corporation or an insurer to which s. 71.45 (4) applies, may offset
6against its Wisconsin net business income any Wisconsin net business loss incurred
7in any of the 20 immediately preceding taxable years, if the corporation was subject
8to taxation under this chapter in the taxable year in which the loss was incurred, to
9the extent not offset by other items of Wisconsin income in the loss year and by
10Wisconsin net business income of any year between the loss year and the taxable year
11for which an offset is claimed. For purposes of this subsection, Wisconsin net
12business income or loss shall consist of all the income attributable to the operation
13of a trade or business in this state, less the business expenses allowed as deductions
14in computing net income, except that the dividends received deduction under sub. (3)
15(j) may not be used in the determination of a net business loss
. The Wisconsin net
16business income or loss of corporations engaged in business within and without the
17state shall be determined under s. 71.25 (6) and (10) to (12). Nonapportionable losses
18having a Wisconsin situs under s. 71.25 (5) (b) shall be included in Wisconsin net
19business loss; and nonapportionable income having a Wisconsin situs under s. 71.25
20(5) (b), whether taxable or exempt, shall be included in other items of Wisconsin
21income and Wisconsin net business income for purposes of this subsection.
AB68-SSA1,1359 22Section 1359. 71.28 (3q) (c) 1. of the statutes is renumbered 71.28 (3q) (c) 1.
23a. and amended to read:
AB68-SSA1,693,724 71.28 (3q) (c) 1. a. Partnerships Except as provided in subd. 1. b., partnerships,
25limited liability companies, and tax-option corporations may not claim the credit

1under this subsection, but the eligibility for, and the amount of, the credit are based
2on their payment of amounts under par. (b). A partnership, limited liability company,
3or tax-option corporation shall compute the amount of credit that each of its
4partners, members, or shareholders may claim and shall provide that information
5to each of them. Partners, members of limited liability companies, and shareholders
6of tax-option corporations may claim the credit in proportion to their ownership
7interests.
AB68-SSA1,1360 8Section 1360. 71.28 (3q) (c) 1. b. of the statutes is created to read:
AB68-SSA1,693,219 71.28 (3q) (c) 1. b. For taxable years beginning after December 31, 2020,
10partnerships, limited liability companies, and tax-option corporations may elect to
11claim the credit under this subsection, if the credit results from a contract entered
12into with the Wisconsin Economic Development Corporation before December 22,
132017. A partnership, limited liability company, or tax-option corporation that
14wishes to make the election under this subd. 1. b. shall make the election for each
15taxable year on its original return and may not subsequently make or revoke the
16election. If a partnership, limited liability company, or tax-option corporation elects
17to claim the credit under this subsection, the partners, members, and shareholders
18may not claim the credit under this subsection. The credit may not be claimed under
19this subd. 1. b. if one or more partners, members, or shareholders have claimed the
20credit under this subsection for the same taxable year for which the credit is claimed
21under this subd. 1. b.
AB68-SSA1,1361 22Section 1361. 71.28 (3w) (a) 1. of the statutes is renumbered 71.28 (3w) (a) 1.
23a. and amended to read:
AB68-SSA1,694,3
171.28 (3w) (a) 1. a. “Base Except as provided in subd. 1. b., “base year" means
2the taxable year beginning during the calendar year prior to the calendar year in
3which the enterprise zone in which the claimant is located takes effect.
AB68-SSA1,1362 4Section 1362. 71.28 (3w) (a) 1. b. of the statutes is created to read:
AB68-SSA1,694,75 71.28 (3w) (a) 1. b. For a claimant whose award under s. 238.399 is certified
6after December 31, 2020, “base year” means the 12-month period prior to the date
7on which the claimant was certified under s. 238.399 (5).
AB68-SSA1,1363 8Section 1363. 71.28 (3w) (a) 6. of the statutes is renumbered 71.28 (3w) (a) 6.
9a. and amended to read:
AB68-SSA1,694,1310 71.28 (3w) (a) 6. a. “Zone payroll" means the amount of state payroll that is
11attributable to wages paid to full-time employees for services that are performed in
12an enterprise zone. “Zone Except as provided in subd. 6. b., “zone payroll" does not
13include the amount of wages paid to any full-time employees that exceeds $100,000.
AB68-SSA1,1364 14Section 1364. 71.28 (3w) (a) 6. b. of the statutes is created to read:
AB68-SSA1,694,1715 71.28 (3w) (a) 6. b. For a claimant whose award under s. 238.399 is certified
16after December 31, 2020, “zone payroll" does not include the amount of wages paid
17to any full-time employees that exceeds $123,000.
AB68-SSA1,1365 18Section 1365. 71.28 (3w) (b) (intro.) of the statutes is amended to read:
AB68-SSA1,694,2319 71.28 (3w) (b) Filing claims under pre-2022 award certifications; payroll.
20(intro.) Subject to the limitations provided in this subsection and s. 238.399 or s.
21560.799, 2009 stats., a claimant whose award is certified prior to January 1, 2022,
22may claim as a credit against the tax imposed under s. 71.23 an amount calculated
23as follows:
AB68-SSA1,1366 24Section 1366. 71.28 (3w) (bd) of the statutes is created to read:
AB68-SSA1,695,4
171.28 (3w) (bd) Filing claims under post-2021 award certifications; payroll.
2Subject to the limitations provided in this subsection and s. 238.399, a claimant
3whose award is certified after December 31, 2020, may claim as a credit against the
4tax imposed under s. 71.23 an amount calculated as follows:
AB68-SSA1,695,55 1. Determine the amount that is the lesser of:
AB68-SSA1,695,126 a. The number of full-time employees whose annual wages are greater than
7$27,900 in a tier I county or municipality or greater than $37,000 in a tier II county
8or municipality and who the claimant employed in the enterprise zone in the taxable
9year, minus the number of full-time employees whose annual wages were greater
10than $27,900 in a tier I county or municipality or greater than $37,000 in a tier II
11county or municipality and who the claimant employed in the area that comprises
12the enterprise zone in the base year.
AB68-SSA1,695,1813 b. The number of full-time employees whose annual wages are greater than
14$27,900 in a tier I county or municipality or greater than $37,000 in a tier II county
15or municipality and who the claimant employed in the state in the taxable year,
16minus the number of full-time employees whose annual wages were greater than
17$27,900 in a tier I county or municipality or greater than $37,000 in a tier II county
18or municipality and who the claimant employed in the state in the base year.
AB68-SSA1,695,2519 2. Determine the claimant's average zone payroll by dividing total wages for
20full-time employees whose annual wages are greater than $27,900 in a tier I county
21or municipality or greater than $37,000 in a tier II county or municipality and who
22the claimant employed in the enterprise zone in the taxable year by the number of
23full-time employees whose annual wages are greater than $27,900 in a tier I county
24or municipality or greater than $37,000 in a tier II county or municipality and who
25the claimant employed in the enterprise zone in the taxable year.
AB68-SSA1,696,3
13. For employees in a tier I county or municipality, subtract $27,900 from the
2amount determined under subd. 2. and for employees in a tier II county or
3municipality, subtract $37,000 from the amount determined under subd. 2.
AB68-SSA1,696,54 4. Multiply the amount determined under subd. 3. by the amount determined
5under subd. 1.
AB68-SSA1,696,76 5. Multiply the amount determined under subd. 4. by the percentage
7determined under s. 238.399, not to exceed 7 percent.
AB68-SSA1,1367 8Section 1367. 71.28 (3w) (bm) 1. of the statutes is amended to read:
AB68-SSA1,696,199 71.28 (3w) (bm) 1. In addition to the credits under par. pars. (b) and (bd) and
10subds. 2., 3., and 4. to 5., and subject to the limitations provided in this subsection
11and s. 238.399 or s. 560.799, 2009 stats., a claimant may claim as a credit against the
12tax imposed under s. 71.23 an amount equal to a percentage, as determined under
13s. 238.399 or s. 560.799, 2009 stats., not to exceed 100 percent, of the amount the
14claimant paid in the taxable year to upgrade or improve the job-related skills of any
15of the claimant's full-time employees, to train any of the claimant's full-time
16employees on the use of job-related new technologies, or to provide job-related
17training to any full-time employee whose employment with the claimant represents
18the employee's first full-time job. This subdivision does not apply to employees who
19do not work in an enterprise zone.
AB68-SSA1,1368 20Section 1368. 71.28 (3w) (bm) 2. of the statutes is renumbered 71.28 (3w) (bm)
212. (intro.) and amended to read:
AB68-SSA1,696,2522 71.28 (3w) (bm) 2. (intro.) In addition to the credits under par. pars. (b) and (bd)
23and subds. 1., 3., and 4., and 5., and subject to the limitations provided in this
24subsection and s. 238.399 or s. 560.799, 2009 stats., a claimant may claim as a credit
25against the tax imposed under s. 71.23 one of the following amounts:
AB68-SSA1,697,12
1a. For a claimant whose award is certified prior to January 1, 2022, an amount
2equal to the percentage, as determined under s. 238.399 or s. 560.799, 2009 stats.,
3not to exceed 7 percent, of the claimant's zone payroll paid in the taxable year to all
4of the claimant's full-time employees whose annual wages are greater than the
5amount determined by multiplying 2,080 by 150 percent of the federal minimum
6wage in a tier I county or municipality, not including the wages paid to the employees
7determined under par. (b) 1., or greater than $30,000 in a tier II county or
8municipality, not including the wages paid to the employees determined under par.
9(b) 1., and who the claimant employed in the enterprise zone in the taxable year, if
10the total number of such employees is equal to or greater than the total number of
11such employees in the base year. A claimant may claim a credit under this
12subdivision for no more than 5 consecutive taxable years.
AB68-SSA1,1369 13Section 1369. 71.28 (3w) (bm) 2. b. of the statutes is created to read:
AB68-SSA1,697,2314 71.28 (3w) (bm) 2. b. For a claimant whose award is certified after December
1531, 2020, an amount equal to the percentage, as determined under s. 238.399, not to
16exceed 7 percent, of the claimant's zone payroll paid in the taxable year to all of the
17claimant's full-time employees whose annual wages are greater than $27,900 in a
18tier I county or municipality, not including the wages paid to the employees
19determined under par. (bd) 1., or greater than $37,000 in a tier II county or
20municipality, not including the wages paid to the employees determined under par.
21(bd) 1., and who the claimant employed in the enterprise zone in the taxable year, if
22the total number of such employees is equal to or greater than the total number of
23such employees in the base year.
AB68-SSA1,1370 24Section 1370. 71.28 (3w) (bm) 3. of the statutes is amended to read:
AB68-SSA1,698,6
171.28 (3w) (bm) 3. In addition to the credits under par. pars. (b) and (bd) and
2subds. 1., 2., and 4., and 5., and subject to the limitations provided in this subsection
3and s. 238.399 or s. 560.799, 2009 stats., for taxable years beginning after December
431, 2008, a claimant may claim as a credit against the tax imposed under s. 71.23 up
5to 10 percent of the claimant's significant capital expenditures, as determined under
6s. 238.399 (5m) or s. 560.799 (5m), 2009 stats.
AB68-SSA1,1371 7Section 1371. 71.28 (3w) (bm) 4. of the statutes is amended to read:
AB68-SSA1,698,168 71.28 (3w) (bm) 4. In addition to the credits under par. pars. (b) and (bd) and
9subds. 1., 2., and 3., and 5., and subject to the limitations provided in this subsection
10and s. 238.399 or s. 560.799, 2009 stats., for taxable years beginning after December
1131, 2009, a claimant may claim as a credit against the tax imposed under s. 71.23,
12up to 1 percent of the amount that the claimant paid in the taxable year to purchase
13tangible personal property, items, property, or goods under s. 77.52 (1) (b), (c), or (d),
14or services from Wisconsin vendors, as determined under s. 238.399 (5) (e) or s.
15560.799 (5) (e), 2009 stats., except that the claimant may not claim the credit under
16this subdivision and subd. 3. for the same expenditures.
AB68-SSA1,1372 17Section 1372. 71.28 (3w) (bm) 5. of the statutes is renumbered 71.28 (3w) (bm)
185. (intro.) and amended to read:
AB68-SSA1,698,2419 71.28 (3w) (bm) 5. (intro.) In addition to the credits under par. pars. (b) and (bd)
20and subds. 1. to 4., and subject to the limitations provided in this subsection and s.
21238.399 or s. 560.799, 2009 stats., a claimant that has retained the minimum number
22of full-time employees determined under s. 238.399 (5) (f) and maintained average
23zone payroll for the taxable year equal to or greater than the base year may claim
24as a credit against the tax imposed under s. 71.23 one of the following amounts:
AB68-SSA1,699,10
1a. For a claimant whose award is certified prior to January 1, 2022, an amount
2equal to the percentage, as determined by the Wisconsin Economic Development
3Corporation, of the claimant's zone payroll paid in the 12 months prior to the
4certification date to the claimant's full-time employees in the enterprise zone whose
5annual wages are greater than the amount determined by multiplying 2,080 by 150
6percent of the federal minimum wage in a tier I county or municipality or greater
7than $30,000 in a tier II county or municipality. The amount that the claimant may
8claim as credit under this subdivision for a taxable year shall not exceed $2,000,000.
9A claimant may claim a credit under this subdivision for no more than 5 consecutive
10taxable years.
AB68-SSA1,1373 11Section 1373. 71.28 (3w) (bm) 5. b. of the statutes is created to read:
AB68-SSA1,699,1712 71.28 (3w) (bm) 5. b. For a claimant whose award is certified after December
1331, 2020, an amount equal to the percentage, as determined by the Wisconsin
14Economic Development Corporation, of the claimant's zone payroll paid in the 12
15months prior to the certification date to the claimant's full-time employees in the
16enterprise zone whose annual wages are greater than $27,900 in a tier I county or
17municipality or greater than $37,000 in a tier II county or municipality.
AB68-SSA1,1374 18Section 1374. 71.28 (3w) (c) 2. of the statutes is renumbered 71.28 (3w) (c) 2.
19a. and amended to read:
AB68-SSA1,700,320 71.28 (3w) (c) 2. a. Partnerships Except as provided in subd. 2. b., partnerships,
21limited liability companies, and tax-option corporations may not claim the credit
22under this subsection, but the eligibility for, and the amount of, the credit are based
23on their payment of amounts described under pars. (b) and (bm). A partnership,
24limited liability company, or tax-option corporation shall compute the amount of
25credit that each of its partners, members, or shareholders may claim and shall

1provide that information to each of them. Partners, members of limited liability
2companies, and shareholders of tax-option corporations may claim the credit in
3proportion to their ownership interests.
AB68-SSA1,1375 4Section 1375. 71.28 (3w) (c) 2. b. of the statutes is created to read:
AB68-SSA1,700,175 71.28 (3w) (c) 2. b. For taxable years beginning after December 31, 2020,
6partnerships, limited liability companies, and tax-option corporations may elect to
7claim the credit under this subsection, if the credit results from a contract entered
8into with the Wisconsin Economic Development Corporation before December 22,
92017. A partnership, limited liability company, or tax-option corporation that
10wishes to make the election under this subd. 2. b. shall make the election for each
11taxable year on its original return and may not subsequently make or revoke the
12election. If a partnership, limited liability company, or tax-option corporation elects
13to claim the credit under this subsection, the partners, members, and shareholders
14may not claim the credit under this subsection. The credit may not be claimed under
15this subd. 2. b. if one or more partners, members, or shareholders have claimed the
16credit under this subsection for the same taxable year for which the credit is claimed
17under this subd. 2. b.
AB68-SSA1,1376 18Section 1376. 71.28 (3w) (c) 5. of the statutes is created to read:
AB68-SSA1,700,2019 71.28 (3w) (c) 5. A claimant may claim a credit under par. (bm) 2. for no more
20than 5 consecutive taxable years.
AB68-SSA1,1377 21Section 1377. 71.28 (3w) (c) 6. of the statutes is created to read:
AB68-SSA1,700,2422 71.28 (3w) (c) 6. The amount that the claimant may claim as credit under par.
23(bm) 5. for a taxable year may not exceed $2,000,000. A claimant may claim a credit
24under par. (bm) 5. for no more than 5 consecutive taxable years.
AB68-SSA1,1378 25Section 1378. 71.28 (3w) (cm) of the statutes is created to read:
AB68-SSA1,701,11
171.28 (3w) (cm) Inflation adjustments. For taxable years beginning after
2December 31, 2022, the dollar amounts in pars. (a) 6. b., (bd) 1. a. and b., 2., and 3.,
3and (bm) 2. b. and 5. b. shall be increased each year by a percentage equal to the
4percentage change between the U.S. consumer price index for all urban consumers,
5U.S. city average, for the month of August of the previous year and the U.S. consumer
6price index for all urban consumers, U.S. city average, for the month of August of the
7year before the previous year, as determined by the federal department of labor.
8Each amount that is revised under this paragraph shall be rounded to the nearest
9multiple of $10 if the revised amount is not a multiple of $10 or, if the revised amount
10is a multiple of $5, such an amount shall be increased to the next higher multiple of
11$10.
AB68-SSA1,1379 12Section 1379. 71.28 (3y) (b) 5. of the statutes is amended to read:
AB68-SSA1,701,1913 71.28 (3y) (b) 5. An amount, as determined by the Wisconsin Economic
14Development Corporation under s. 238.308 (4) (a) 5., equal to a percentage of the
15amount of wages that the claimant paid to an eligible employee in the taxable year
16if the position in which the eligible employee was employed was created or retained
17in connection with the claimant's location or retention of the claimant's corporate
18headquarters in Wisconsin and the job duties associated with the eligible employee's
19position involve the performance of corporate headquarters functions
.
AB68-SSA1,1380 20Section 1380. 71.28 (3y) (b) 6. of the statutes is created to read:
AB68-SSA1,701,2421 71.28 (3y) (b) 6. An amount, as determined by the Wisconsin Economic
22Development Corporation under s. 238.308 (4) (a) 6., equal to a percentage, not to
23exceed 25 percent, of the claimant's energy efficiency or renewable energy project
24expenditures on real or personal property located in this state.
AB68-SSA1,1381
1Section 1381. 71.28 (3y) (c) 1. of the statutes is renumbered 71.28 (3y) (c) 1.
2a. and amended to read:
AB68-SSA1,702,113 71.28 (3y) (c) 1. a. Partnerships Except as provided in subd. 1. b., partnerships,
4limited liability companies, and tax-option corporations may not claim the credit
5under this subsection, but the eligibility for, and the amount of, the credit are based
6on their payment of amounts under par. (b). A partnership, limited liability company,
7or tax-option corporation shall compute the amount of credit that each of its
8partners, members, or shareholders may claim and shall provide that information
9to each of them. Partners, members of limited liability companies, and shareholders
10of tax-option corporations may claim the credit in proportion to their ownership
11interests.
AB68-SSA1,1382 12Section 1382. 71.28 (3y) (c) 1. b. of the statutes is created to read:
AB68-SSA1,702,2513 71.28 (3y) (c) 1. b. For taxable years beginning after December 31, 2020,
14partnerships, limited liability companies, and tax-option corporations may elect to
15claim the credit under this subsection, if the credit results from a contract entered
16into with the Wisconsin Economic Development Corporation before December 22,
172017. A partnership, limited liability company, or tax-option corporation that
18wishes to make the election under this subd. 1. b. shall make the election for each
19taxable year on its original return and may not subsequently make or revoke the
20election. If a partnership, limited liability company, or tax-option corporation elects
21to claim the credit under this subsection, the partners, members, and shareholders
22may not claim the credit under this subsection. The credit may not be claimed under
23this subd. 1. b. if one or more partners, members, or shareholders have claimed the
24credit under this subsection for the same taxable year for which the credit is claimed
25under this subd. 1. b.
AB68-SSA1,1383
1Section 1383. 71.28 (4) (k) 1. of the statutes is renumbered 71.28 (4) (k) 1. a.
2and amended to read:
AB68-SSA1,703,83 71.28 (4) (k) 1. a. The For taxable years beginning before January 1, 2021, the
4amount of the claim not used to offset the tax due, not to exceed 10 percent of the
5allowable amount of the claim under par. (ad) 4., 5., or 6., shall be certified by the
6department of revenue to the department of administration for payment by check,
7share draft, or other draft drawn from the appropriation account under s. 20.835 (2)
8(d).
AB68-SSA1,1384 9Section 1384. 71.28 (4) (k) 1. b. of the statutes is created to read:
AB68-SSA1,703,1510 71.28 (4) (k) 1. b. For taxable years beginning after December 31, 2020, the
11amount of the claim not used to offset the tax due, not to exceed 20 percent of the
12allowable amount of the claim under par. (ad) 4., 5., or 6., shall be certified by the
13department of revenue to the department of administration for payment by check,
14share draft, or other draft drawn from the appropriation account under s. 20.835 (2)
15(d).
AB68-SSA1,1385 16Section 1385 . 71.28 (4t) of the statutes is created to read:
AB68-SSA1,703,1717 71.28 (4t) Work opportunity tax credit. (a) Definitions. In this subsection:
AB68-SSA1,703,1918 1. “Claimant” means a person who is an employer of a targeted group member
19and who files a claim under this subsection.
AB68-SSA1,703,2120 2. “Targeted group member” means an individual who performs services for the
21claimant in this state and who is a member of a targeted group under 26 USC 51 (d).
AB68-SSA1,703,2422 (b) Filing claims. For taxable years beginning after December 31, 2020, a
23claimant may claim as a credit against the taxes imposed under s. 71.23, up to the
24amount of the tax, the following amounts:
AB68-SSA1,704,3
11. An amount equal to 20 percent of the qualified first-year wages, as defined
2in 26 USC 51 (b) (2), paid during the taxable year to a targeted group member who
3has performed at least 400 hours of services for the claimant in this state.
AB68-SSA1,704,74 2. An amount equal to 12.5 percent of the qualified first-year wages, as defined
5in 26 USC 51 (b) (2), paid during the taxable year to a targeted group member who
6has performed at least 120 hours, but less than 400 hours, of services for the claimant
7in this state.
AB68-SSA1,704,118 3. An amount equal to 25 percent of the qualified 2nd-year wages, as defined
9in 26 USC 51 (e) (2), paid during the taxable year to a long-term family assistance
10recipient, as defined in 26 USC 51 (d) (10), who has performed at least 400 hours of
11services for the claimant in this state.
AB68-SSA1,704,1412 (c) Limitations. 1. The wages for which a credit may be claimed under par. (b)
13may not exceed the applicable threshold in 26 USC 51 (b) (3), (d) (7) (B) (ii), or (e) (1)
14(B) and may not be paid for services performed outside this state.
Loading...
Loading...