This is the preview version of the Wisconsin State Legislature site.
Please see http://docs.legis.wisconsin.gov for the production version.
SB2,50 19Section 50. 71.22 (4m) (L) 3. of the statutes is amended to read:
SB2,24,220 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
23and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
24sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
251302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.

1116-94; section 2 (b) of P.L. 116-98; and
sections 1106, 2202, 2203, 2204, 2205, 2206,
22307, 3608, 3609, 3701, and 3702 of division A of P.L. 116-136.
SB2,51 3Section 51 . 71.22 (4m) (L) 4. of the statutes is amended to read:
SB2,24,94 71.22 (4m) (L) 4. For purposes of this paragraph, the provisions of federal
5public laws that directly or indirectly affect the Internal Revenue Code, as defined
6in this paragraph, apply for Wisconsin purposes at the same time as for federal
7purposes, except that changes made by P.L. 115-63 and sections 11026, 11027, 11028,
813207, 13306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L.
9115-97 first apply for taxable years beginning after December 31, 2017
.
SB2,52 10Section 52 . 71.22 (4m) (m) of the statutes is created to read:
SB2,24,1511 71.22 (4m) (m) 1. For taxable years beginning after December 31, 2020,
12“Internal Revenue Code," for corporations that are subject to a tax on unrelated
13business income under s. 71.26 (1) (a), means the federal Internal Revenue Code as
14amended to December 31, 2019, except as provided in subds. 2. and 3. and s. 71.98
15and subject to subd. 4.
SB2,25,1316 2. For purposes of this paragraph, “Internal Revenue Code" does not include
17the following provisions of federal public laws for taxable years beginning after
18December 31, 2020: section 13113 of P.L. 103-66; sections 1, 3, 4, and 5 of P.L.
19106-519; sections 101, 102, and 422 of P.L. 108-357; sections 1310 and 1351 of P.L.
20109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of
21P.L. 109-222; sections 104 and 307 of P.L. 109-432; sections 8233 and 8235 of P.L.
22110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section
2315351 of P.L. 110-246; section 302 of division A, section 401 of division B, and sections
24312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251,
251501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L.

1111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L.
2111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324, 326, 327, and
3411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division
4P of P.L. 114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
5171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113; sections 11011, 11012,
613201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
713801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
814221, 14222, 14301, 14302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305,
940306, and 40412 of P.L. 115-123; section 101 (c) of division T of P.L. 115-141;
10sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
11(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
12115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
13117, 118, 130, 132, and 145 of division Q of P.L. 116-94.
SB2,25,1914 3. For purposes of this paragraph, “Internal Revenue Code" does not include
15amendments to the federal Internal Revenue Code enacted after December 31, 2019,
16except that "Internal Revenue Code" includes sections 7001, 7002, 7003, 7004, and
177005 of division G of P.L. 116-127 and sections 1106, 2201, 2202, 2203, 2204, 2205,
182206, 2301, 2302, 2303, 2305, 2307, 2308, 3606, 3608, 3609, 3701, 3702, and 4007 of
19division A of P.L. 116-136.
SB2,26,220 4. For purposes of this paragraph, the provisions of federal public laws that
21directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
22apply for Wisconsin purposes at the same time as for federal purposes, except that
23changes made by section 13516 of P.L. 115-97, sections 20101, 20102, 20104, 20201,
2440201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116
25of P.L. 115-123, section 101 (a), (b), and (h) of division U of P.L. 115-141, section 1122

1of P.L. 116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L. 116-94, and
2section 2 of P.L. 116-98 apply for taxable years beginning after December 31, 2020.
SB2,53 3Section 53 . 71.22 (5g) of the statutes is created to read:
SB2,26,54 71.22 (5g) For purposes of s. 71.22 (4) (b) and (4m) (b), 2013 stats., “Internal
5Revenue Code" includes section 109 of division U of P.L. 115-141.
SB2,54 6Section 54 . 71.26 (2) (b) 3., 4., 5., 6., 7., 8. and 9. of the statutes are repealed.
SB2,55 7Section 55 . 71.26 (2) (b) 10. d. of the statutes is amended to read:
SB2,26,178 71.26 (2) (b) 10. d. For purposes of subd. 10. a., “Internal Revenue Code" does
9not include amendments to the federal Internal Revenue Code enacted after
10December 31, 2013, except that “Internal Revenue Code" includes the provisions of
11P.L. 113-97, P.L. 113-159, P.L. 113-168, section 302901 of P.L. 113-287, sections 171,
12172, and 201 to 221 of P.L. 113-295, sections 102, 105, and 207 of division B of P.L.
13113-295, P.L. 114-14, P.L. 114-26, section 2004 of P.L. 114-41, sections 503 and 504
14of P.L. 114-74, sections 103, 104, 124, 168, 184, 185, 190, 204, 303, 306, 336, and 341
15of division Q of P.L. 114-113, and P.L. 114-239 ; sections 101 (m), (n), (o), (p), and (q)
16and 104 (a) of division U of P.L. 115-141; and section 102 of division M and sections
17110, 111, and 116 (b) of division O of P.L. 116-94
.
SB2,56 18Section 56 . 71.26 (2) (b) 11. d. of the statutes is amended to read:
SB2,26,2419 71.26 (2) (b) 11. d. For purposes of subd. 11. a., “Internal Revenue Code" does
20not include amendments to the federal Internal Revenue Code enacted after
21December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
2211025, and 13543 of P.L. 115-97, sections 40307 and 40413 of P.L. 115-123, and
23section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
24116-94
.
SB2,57 25Section 57 . 71.26 (2) (b) 12. a. of the statutes is amended to read:
SB2,27,9
171.26 (2) (b) 12. a. For taxable years beginning after December 31, 2017, and
2before January 1, 2021,
for a corporation, conduit, or common law trust which
3qualifies as a regulated investment company, real estate mortgage investment
4conduit, real estate investment trust, or financial asset securitization investment
5trust under the Internal Revenue Code, “net income" means the federal regulated
6investment company taxable income, federal real estate mortgage investment
7conduit taxable income, federal real estate investment trust or financial asset
8securitization investment trust taxable income of the corporation, conduit, or trust
9as determined under the Internal Revenue Code.
SB2,58 10Section 58. 71.26 (2) (b) 12. d. of the statutes is amended to read:
SB2,27,1811 71.26 (2) (b) 12. d. For purposes of subd. 12. a., “Internal Revenue Code" does
12not include amendments to the federal Internal Revenue Code enacted after
13December 31, 2017, except that “Internal Revenue Code” includes sections 40307
14and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
15sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
161302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
17116-94; section 2 (b) of P.L. 116-98; and
sections 1106, 2202, 2203, 2204, 2205, 2206,
182307, 3608, 3609, 3701, and 3702 of division A of P.L. 116-136.
SB2,59 19Section 59 . 71.26 (2) (b) 12. e. of the statutes is amended to read:
SB2,27,2520 71.26 (2) (b) 12. e. For purposes of subd. 12. a., the provisions of federal public
21laws that directly or indirectly affect the Internal Revenue Code, as defined in this
22subdivision, apply for Wisconsin purposes at the same time as for federal purposes,
23except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
2413306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
25first apply for taxable years beginning after December 31, 2017
.
SB2,60
1Section 60. 71.26 (2) (b) 13. of the statutes is created to read:
SB2,28,92 71.26 (2) (b) 13. a. For taxable years beginning after December 31, 2020, for a
3corporation, conduit, or common law trust that qualifies as a regulated investment
4company, real estate mortgage investment conduit, real estate investment trust, or
5financial asset securitization investment trust under the Internal Revenue Code,
6“net income" means the federal regulated investment company taxable income,
7federal real estate mortgage investment conduit taxable income, federal real estate
8investment trust, or financial asset securitization investment trust taxable income
9of the corporation, conduit, or trust as determined under the Internal Revenue Code.
SB2,28,1210 b. For purposes of subd. 13. a., “Internal Revenue Code" means the federal
11Internal Revenue Code as amended to December 31, 2019, except as provided in
12subd. 13. c. and d. and s. 71.98 and subject to subd. 13. e.
SB2,29,1013 c. For purposes of subd. 13. a., “Internal Revenue Code" does not include the
14following provisions of federal public laws for taxable years beginning after
15December 31, 2020: section 13113 of P.L. 103-66; sections 1, 3, 4, and 5 of P.L.
16106-519; sections 101, 102, and 422 of P.L. 108-357; sections 1310 and 1351 of P.L.
17109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of
18P.L. 109-222; sections 104 and 307 of P.L. 109-432; sections 8233 and 8235 of P.L.
19110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section
2015351 of P.L. 110-246; section 302 of division A, section 401 of division B, and sections
21312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251,
221501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L.
23111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L.
24111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324, 326, 327, and
25411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division

1P of P.L. 114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
2171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113; sections 11011, 11012,
313201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
413801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
514221, 14222, 14301, 14302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305,
640306, and 40412 of P.L. 115-123; section 101 (c) of division T of P.L. 115-141;
7sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
8(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
9115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
10117, 118, 130, 132, and 145 of division Q of P.L. 116-94.
SB2,29,1611 d. For purposes of subd. 13. a., “Internal Revenue Code" does not include
12amendments to the federal Internal Revenue Code enacted after December 31, 2019,
13except that "Internal Revenue Code" includes sections 7001, 7002, 7003, 7004, and
147005 of division G of P.L. 116-127 and sections 1106, 2201, 2202, 2203, 2204, 2205,
152206, 2301, 2302, 2303, 2305, 2307, 2308, 3606, 3608, 3609, 3701, 3702, and 4007 of
16division A of P.L. 116-136.
SB2,29,2417 e. For purposes of subd. 13. a., the provisions of federal public laws that directly
18or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply
19for Wisconsin purposes at the same time as for federal purposes, except that changes
20made by section 13516 of P.L. 115-97, sections 20101, 20102, 20104, 20201, 40201,
2140202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116 of P.L.
22115-123, section 101 (a), (b), and (h) of division U of P.L. 115-141, section 1122 of P.L.
23116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L. 116-94, and section
242 of P.L. 116-98 apply for taxable years beginning after December 31, 2020.
SB2,61 25Section 61 . 71.26 (2) (b) 14. of the statutes is created to read:
SB2,30,2
171.26 (2) (b) 14. For purposes of s. 71.26 (2) (b) 2., 2013 stats., “Internal Revenue
2Code" includes section 109 of division U of P.L. 115-141.
SB2,62 3Section 62. 71.28 (6) (h) of the statutes is amended to read:
SB2,30,154 71.28 (6) (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 the
13transferor in which the transfer occurs, and may use the credit only to offset tax in
14taxable years otherwise allowed to be claimed and carried forward by the original
15claimant.
SB2,63 16Section 63 . 71.34 (1g) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
SB2,64 17Section 64 . 71.34 (1g) (j) 3. m. of the statutes is created to read:
SB2,30,1918 71.34 (1g) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q) and 104 (a) of division
19U of P.L. 115-141.
SB2,65 20Section 65 . 71.34 (1g) (j) 3. n. of the statutes is created to read:
SB2,30,2221 71.34 (1g) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
22of division O of P.L. 116-94.
SB2,66 23Section 66 . 71.34 (1g) (k) 3. of the statutes is amended to read:
SB2,31,424 71.34 (1g) (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; and
3section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
4116-94
.
SB2,67 5Section 67 . 71.34 (1g) (L) 1. of the statutes is amended to read:
SB2,31,96 71.34 (1g) (L) 1. For taxable years beginning after December 31, 2017, and
7before January 1, 2021,
for tax option corporations, “Internal Revenue Code" means
8the federal Internal Revenue Code as amended to December 31, 2017, except as
9provided in subds. 2., 3., and 5. and s. 71.98 and subject to subd. 4.
SB2,68 10Section 68. 71.34 (1g) (L) 3. of the statutes is amended to read:
SB2,31,1811 71.34 (1g) (L) 3. For purposes of this paragraph, “Internal Revenue Code" does
12not include amendments to the federal Internal Revenue Code enacted after
13December 31, 2017, except that “Internal Revenue Code” includes sections 40307
14and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
15sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
161302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.
17116-94; section 2 (b) of P.L. 116-98; and
sections 1106, 2202, 2203, 2204, 2205, 2206,
182307, 3608, 3609, 3701, and 3702 of division A of P.L. 116-136.
SB2,69 19Section 69 . 71.34 (1g) (L) 4. of the statutes is amended to read:
SB2,31,2520 71.34 (1g) (L) 4. For purposes of this paragraph, the provisions of federal public
21laws that directly or indirectly affect the Internal Revenue Code, as defined in this
22paragraph, apply for Wisconsin purposes at the same time as for federal purposes,
23except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
2413306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
25first apply for taxable years beginning after December 31, 2017
.
SB2,70
1Section 70. 71.34 (1g) (m) of the statutes is created to read:
SB2,32,52 71.34 (1g) (m) 1. For taxable years beginning after December 31, 2020, for tax
3option corporations, “Internal Revenue Code" means the federal Internal Revenue
4Code as amended to December 31, 2019, except as provided in subds. 2., 3., and 5. and
5s. 71.98 and subject to subd. 4.
SB2,33,36 2. For purposes of this paragraph, “Internal Revenue Code" does not include
7the following provisions of federal public laws for taxable years beginning after
8December 31, 2020: section 13113 of P.L. 103-66; sections 1, 3, 4, and 5 of P.L.
9106-519; sections 101, 102, and 422 of P.L. 108-357; sections 1310 and 1351 of P.L.
10109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of
11P.L. 109-222; sections 104 and 307 of P.L. 109-432; sections 8233 and 8235 of P.L.
12110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section
1315351 of P.L. 110-246; section 302 of division A, section 401 of division B, and sections
14312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251,
151501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L.
16111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L.
17111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324, 326, 327, and
18411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division
19P of P.L. 114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
20171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113; sections 11011, 11012,
2113201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
2213801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
2314221, 14222, 14301, 14302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305,
2440306, and 40412 of P.L. 115-123; section 101 (c) of division T of P.L. 115-141;
25sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),

1(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
2115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
3117, 118, 130, 132, and 145 of division Q of P.L. 116-94.
SB2,33,94 3. For purposes of this paragraph, “Internal Revenue Code" does not include
5amendments to the federal Internal Revenue Code enacted after December 31, 2019,
6except that "Internal Revenue Code" includes sections 7001, 7002, 7003, 7004, and
77005 of division G of P.L. 116-127 and sections 1106, 2201, 2202, 2203, 2204, 2205,
82206, 2301, 2302, 2303, 2305, 2307, 2308, 3606, 3608, 3609, 3701, 3702, and 4007 of
9division A of P.L. 116-136.
SB2,33,1710 4. For purposes of this paragraph, the provisions of federal public laws that
11directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
12apply for Wisconsin purposes at the same time as for federal purposes, except that
13changes made by section 13516 of P.L. 115-97, sections 20101, 20102, 20104, 20201,
1440201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116
15of P.L. 115-123, section 101 (a), (b), and (h) of division U of P.L. 115-141, section 1122
16of P.L. 116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L. 116-94, and
17section 2 of P.L. 116-98 apply for taxable years beginning after December 31, 2020.
SB2,33,21185. For purposes of this paragraph, section 1366 (f) of the Internal Revenue Code
19(relating to pass-through of items to shareholders) is modified by substituting the
20tax under s. 71.35 for the taxes under sections 1374 and 1375 of the Internal Revenue
21Code.
SB2,71 22Section 71 . 71.34 (1u) of the statutes is created to read:
SB2,33,2423 71.34 (1u) For purposes of s. 71.34 (1g) (b), 2013 stats., “Internal Revenue
24Code" includes section 109 of division U of P.L. 115-141.
SB2,72 25Section 72 . 71.42 (2) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
SB2,73
1Section 73. 71.42 (2) (j) 3. m. of the statutes is created to read:
SB2,34,32 71.42 (2) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q) and 104 (a) of division
3U of P.L. 115-141.
SB2,74 4Section 74 . 71.42 (2) (j) 3. n. of the statutes is created to read:
SB2,34,65 71.42 (2) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
6of division O of P.L. 116-94.
SB2,75 7Section 75 . 71.42 (2) (k) 3. of the statutes is amended to read:
SB2,34,138 71.42 (2) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
9not include amendments to the federal Internal Revenue Code enacted after
10December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
1111025, and 13543 of P.L. 115-97; sections 40307 and 40413 of P.L. 115-123; and
12section 102 of division M and sections 110, 111, and 116 (b) of division O of P.L.
13116-94
.
SB2,76 14Section 76 . 71.42 (2) (L) 1. of the statutes is amended to read:
SB2,34,1815 71.42 (2) (L) 1. For taxable years beginning after December 31, 2017, and
16before January 1, 2021,
“Internal Revenue Code" means the federal Internal
17Revenue Code as amended to December 31, 2017, except as provided in subds. 2. to
184. and s. 71.98 and subject to subd. 5.
SB2,77 19Section 77. 71.42 (2) (L) 3. of the statutes is amended to read:
SB2,35,220 71.42 (2) (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
23and 40413 of P.L. 115-123; section 1203 of P.L. 116-25; section 102 of division M,
24sections 108, 110, 111, 115, 116 (a) and (b), 204, 206, 302, and 601 of division O, section
251302 of division P, and sections 131, 202 (d), 204 (c), 205, and 301 of division Q of P.L.

1116-94; section 2 (b) of P.L. 116-98; and
sections 1106, 2202, 2203, 2204, 2205, 2206,
22307, 3608, 3609, 3701, and 3702 of division A of P.L. 116-136.
SB2,78 3Section 78 . 71.42 (2) (L) 5. of the statutes is amended to read:
SB2,35,94 71.42 (2) (L) 5. For purposes of this paragraph, the provisions of federal public
5laws that directly or indirectly affect the Internal Revenue Code, as defined in this
6paragraph, apply for Wisconsin purposes at the same time as for federal purposes,
7except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
813306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
9first apply for taxable years beginning after December 31, 2017
.
SB2,79 10Section 79 . 71.42 (2) (m) of the statutes is created to read:
SB2,35,1311 71.42 (2) (m) 1. For taxable years beginning after December 31, 2020, “Internal
12Revenue Code" means the federal Internal Revenue Code as amended to December
1331, 2019, except as provided in subds. 2. and 3. and s. 71.98 and subject to subd. 4.
SB2,36,1114 2. For purposes of this paragraph, “Internal Revenue Code" does not include
15the following provisions of federal public laws for taxable years beginning after
16December 31, 2020: section 13113 of P.L. 103-66; sections 1, 3, 4, and 5 of P.L.
17106-519; sections 101, 102, and 422 of P.L. 108-357; sections 1310 and 1351 of P.L.
18109-58; section 11146 of P.L. 109-59; section 403 (q) of P.L. 109-135; section 513 of
19P.L. 109-222; sections 104 and 307 of P.L. 109-432; sections 8233 and 8235 of P.L.
20110-28; section 11 (e) and (g) of P.L. 110-172; section 301 of P.L. 110-245; section
2115351 of P.L. 110-246; section 302 of division A, section 401 of division B, and sections
22312, 322, 502 (c), 707, and 801 of division C of P.L. 110-343; sections 1232, 1241, 1251,
231501, and 1502 of division B of P.L. 111-5; sections 211, 212, 213, 214, and 216 of P.L.
24111-226; sections 2011 and 2122 of P.L. 111-240; sections 753, 754, and 760 of P.L.
25111-312; section 1106 of P.L. 112-95; sections 104, 318, 322, 323, 324, 326, 327, and

1411 of P.L. 112-240; P.L. 114-7; section 1101 of P.L. 114-74; section 305 of division
2P of P.L. 114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
3171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113; sections 11011, 11012,
413201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
513801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
614221, 14222, 14301, 14302, 14304, and 14401 of P.L. 115-97; sections 40304, 40305,
740306, and 40412 of P.L. 115-123; section 101 (c) of division T of P.L. 115-141;
8sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
9(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
10115-141; and section 301 of division O and sections 101, 102, 103, 104, 114, 115, 116,
11117, 118, 130, 132, and 145 of division Q of P.L. 116-94.
SB2,36,1712 3. For purposes of this paragraph, “Internal Revenue Code" does not include
13amendments to the federal Internal Revenue Code enacted after December 31, 2019,
14except that "Internal Revenue Code" includes sections 7001, 7002, 7003, 7004, and
157005 of division G of P.L. 116-127 and sections 1106, 2201, 2202, 2203, 2204, 2205,
162206, 2301, 2302, 2303, 2305, 2307, 2308, 3606, 3608, 3609, 3701, 3702, and 4007 of
17division A of P.L. 116-136.
SB2,36,2518 4. For purposes of this paragraph, the provisions of federal public laws that
19directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
20apply for Wisconsin purposes at the same time as for federal purposes, except that
21changes made by section 13516 of P.L. 115-97, sections 20101, 20102, 20104, 20201,
2240201, 40202, 40203, 40308, 40309, 40311, 40414, 41101, 41107, 41115, and 41116
23of P.L. 115-123, section 101 (a), (b), and (h) of division U of P.L. 115-141, section 1122
24of P.L. 116-92, sections 201, 202, and 204 (a) and (b) of division Q of P.L. 116-94, and
25section 2 of P.L. 116-98 apply for taxable years beginning after December 31, 2020.
SB2,80
1Section 80. 71.42 (2p) of the statutes is created to read:
SB2,37,32 71.42 (2p) For purposes of s. 71.42 (2) (b), 2013 stats., “Internal Revenue Code"
3includes section 109 of division U of P.L. 115-141.
SB2,81 4Section 81. 71.47 (6) (h) of the statutes is amended to read:
SB2,37,165 71.47 (6) (h) Any person, including a nonprofit entity described in section 501
6(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
7par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
8imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
9transfer, and submits with the notification a copy of the transfer documents, and the
10department certifies ownership of the credit with each transfer. The transferor may
11file a claim for more than one taxable year on a form prescribed by the department
12to compute all years of the credit under par. (a) 2m. or 3., at the time of the transfer
13request. The transferee may first use the credit to offset tax in the taxable year of the
14transferor in which the transfer occurs, and may use the credit only to offset tax in
15taxable years otherwise allowed to be claimed and carried forward by the original
16claimant.
SB2,82 17Section 82. 71.52 (1g) of the statutes is created to read:
SB2,38,218 71.52 (1g) “Earned income” means wages, salaries, tips, and other employee
19compensation that may be included in federal adjusted gross income for the taxable
20year, plus the amount of the claimant's net earnings from self-employment for the
21taxable year determined with regard to the deduction allowed to the taxpayer by
22section 164 (f) of the Internal Revenue Code. For purposes of this subsection, a
23claimant's earned income is computed without regard to any marital property laws
24and a claimant may elect to treat amounts excluded from federal adjusted gross

1income as earned income, as provided under section 112 of the Internal Revenue
2Code. “Earned income” does not include the following:
SB2,38,33 (a) Any amount received as a pension or annuity.
SB2,38,44(b) Any amount to which section 871 (a) of the Internal Revenue Code applies.
SB2,38,65 (c) Any amount received for services provided by an individual while the
6individual is an inmate at a penal institution.
SB2,38,117 (d) Any amount received for service performed in work activities under
8paragraphs (4) or (7) of section 407 (d) of the Social Security Act to which the claimant
9is assigned under any state program under part A of title IV of the Social Security
10Act. This paragraph applies only to amounts subsidized under any such state
11program.
SB2,83 12Section 83. 71.55 (10) of the statutes is amended to read:
SB2,38,2113 71.55 (10) Farmers. Notwithstanding the provision in s. 71.52 (6) that requires
14the addition of certain disqualified losses to income, such an addition may not be
15made by a claimant who is a farmer whose primary income is from farming and
16whose farming generates less than $250,000 in gross receipts from the operation of
17farm premises in the year to which the claim relates. For purposes of this subsection,
18a claimant's primary income is from farming if the claimant's gross income from
19farming for the year to which the claim relates is greater than 50 percent of the
20claimant's total gross income from all sources for the year to which the claim relates.
21In this subsection, “gross income” has the meaning given in s. 71.03 (1).
SB2,84 22Section 84. 71.76 of the statutes is renumbered 71.76 (1) and amended to read:
SB2,39,1523 71.76 (1) If for any year the amount of federal net income tax payable, of a credit
24claimed or carried forward, of a net operating loss carried forward or of a capital loss
25carried forward of any taxpayer as reported to the internal revenue service is

1changed or corrected by the internal revenue service or other officer of the United
2States, such taxpayer shall report such changes or corrections to the department
3within 90 180 days after its final determination and shall concede the accuracy of
4such determination or state how the determination is erroneous. Such changes or
5corrections need not be reported unless they affect the amount of net tax payable
6under this chapter, of a credit calculated under this chapter, of a Wisconsin net
7operating loss carried forward, of a Wisconsin net business loss carried forward or
8of a capital loss carried forward under this chapter. Any taxpayer submitting an
9amended return to the internal revenue service, or to another state if there has been
10allowed a credit against Wisconsin taxes for taxes paid to that state, shall also file,
11within 90 180 days of such filing date, an amended return if any information
12contained on the amended return affects the amount of net tax payable under this
13chapter of a credit calculated under this chapter, of a Wisconsin net operating loss
14carried forward, of a Wisconsin net business loss carried forward or of a capital loss
15carried forward under this chapter.
SB2,85 16Section 85 . 71.76 (2) of the statutes is created to read:
SB2,39,2517 71.76 (2) In the case of any partnership adjustments, as defined under section
186241 of the Internal Revenue Code and including adjustments under section 6225
19of the Internal Revenue Code, the partnership and its partners shall report such
20changes or corrections to the department within 180 days after the final
21determination by the internal revenue service and shall concede the accuracy of such
22determination or state how the determination is erroneous. The partnership and its
23partners shall submit amended returns, as applicable, for each reviewed year, as
24defined under section 6225 of the Internal Revenue Code, to which such partnership
25adjustments relate.
SB2,86
1Section 86. 71.77 (7) (b) of the statutes is amended to read:
SB2,40,82 71.77 (7) (b) If notice of assessment or refund is given to the taxpayer within
390 180 days of the date on which the department receives a report from the taxpayer
4under s. 71.76 or within such other period specified in a written agreement entered
5into prior to the expiration of such 90 180 days by the taxpayer and the department.
6If the taxpayer does not report to the department as required under s. 71.76, the
7department may make an assessment against the taxpayer or refund to the taxpayer
8within 4 years after discovery by the department.
Loading...
Loading...