AB50: Bill Text

AB50,1228 Section 1228. 71.05 (6) (b) 22. of the statutes is renumbered 71.05 (6) (b) 22. a. and amended to read:

AB50,654,4 71.05 (6) (b) 22. a. For taxable years beginning after December 31, 1995, and before January 1, 2025, an amount up to $5,000 that is expended during the period that consists of the year to which the claim relates and the prior 2 taxable years, by a full-year resident of this state who is an adoptive parent, for adoption fees, court costs, or legal fees relating to the adoption of a child, for whom a final order of adoption has been entered under s. 48.91 (3) or by an order of a court of any other state, or upon registration of a foreign adoption under s. 48.97 (2), during the taxable year.

AB50,1229 Section 1229. 71.05 (6) (b) 22. b. of the statutes is created to read:

AB50,654,12 71.05 (6) (b) 22. b. For taxable years beginning after December 31, 2024, an amount up to $15,000 that is expended during the period that consists of the year to which the claim relates and the prior 2 taxable years, by a full-year resident of this state who is an adoptive parent, for adoption fees, court costs, or legal fees relating to the adoption of a child, for whom a final order of adoption has been entered under s. 48.91 (3) or by an order of a court of any other state, or upon registration of a foreign adoption under s. 48.97 (2), during the taxable year.

AB50,1230 Section 1230. 71.05 (6) (b) 28. e. of the statutes is amended to read:

AB50,655,2 71.05 (6) (b) 28. e. For an individual who is a nonresident or part-year resident of this state, multiply the amount calculated under subd. 28. a., am., b., c. or d. by a fraction the numerator of which is the individual’s wages, salary, tips, unearned income and net earnings from a trade or business that are taxable by this state and the denominator of which is the individual’s total wages, salary, tips, unearned income and net earnings from a trade or business. In this subd. 28. e., for married persons filing separately “wages, salary, tips, unearned income and net earnings from a trade or business” means the separate wages, salary, tips, unearned income and net earnings from a trade or business of each spouse, and for married persons filing jointly “wages, salary, tips, unearned income and net earnings from a trade or business” means the total wages, salary, tips, unearned income and net earnings from a trade or business of both spouses.

AB50,1231 Section 1231. 71.05 (6) (b) 28. f. of the statutes is amended to read:

AB50,655,6 71.05 (6) (b) 28. f. Reduce the amount calculated under subd. 28. a., am., b., c., d. or e. to the individual’s aggregate wages, salary, tips, unearned income and net earnings from a trade or business that are taxable by this state.

AB50,1232 Section 1232. 71.05 (6) (b) 32. b. of the statutes is amended to read:

AB50,655,19 71.05 (6) (b) 32. b. For an individual who is a nonresident or part-year resident of this state, multiply the amount calculated under subd. 32. a. by a fraction the numerator of which is the individual’s wages, salary, tips, unearned income and net earnings from a trade or business that are taxable by this state and the denominator of which is the individual’s total wages, salary, tips, unearned income and net earnings from a trade or business. In this subd. 32. b., for married persons filing separately “wages, salary, tips, unearned income and net earnings from a trade or business” means the separate wages, salary, tips, unearned income and net earnings from a trade or business of each spouse, and for married persons filing jointly “wages, salary, tips, unearned income and net earnings from a trade or business” means the total wages, salary, tips, unearned income and net earnings from a trade or business of both spouses.

AB50,1233 Section 1233. 71.05 (6) (b) 32. c. of the statutes is amended to read:

AB50,655,23 71.05 (6) (b) 32. c. Reduce the amount calculated under subd. 32. a. or b. to the individual’s aggregate wages, salary, tips, unearned income and net earnings from a trade or business that are taxable by this state.

AB50,1234 Section 1234. 71.05 (6) (b) 33. b. of the statutes is amended to read:

AB50,656,12 71.05 (6) (b) 33. b. For an individual who is a nonresident or part-year resident of this state, multiply the amount calculated under subd. 33. a. by a fraction the numerator of which is the individual’s wages, salary, tips, unearned income and net earnings from a trade or business that are taxable by this state and the denominator of which is the individual’s total wages, salary, tips, unearned income and net earnings from a trade or business. In this subd. 33. b., for married persons filing separately “wages, salary, tips, unearned income and net earnings from a trade or business” means the separate wages, salary, tips, unearned income and net earnings from a trade or business of each spouse, and for married persons filing jointly “wages, salary, tips, unearned income and net earnings from a trade or business” means the total wages, salary, tips, unearned income and net earnings from a trade or business of both spouses.

AB50,1235 Section 1235. 71.05 (6) (b) 33. c. of the statutes is amended to read:

AB50,656,16 71.05 (6) (b) 33. c. Reduce the amount calculated under subd. 33. a. or b. to the individual’s aggregate wages, salary, tips, unearned income and net earnings from a trade or business that are taxable by this state.

AB50,1236 Section 1236. 71.05 (6) (b) 35. c. of the statutes is amended to read:

AB50,657,5 71.05 (6) (b) 35. c. For an individual who is a nonresident or part-year resident of this state, multiply the amount calculated under subd. 35. a. or b., by a fraction the numerator of which is the individual’s wages, salary, tips, unearned income, and net earnings from a trade or business that are taxable by this state and the denominator of which is the individual’s total wages, salary, tips, unearned income, and net earnings from a trade or business. In this subd. 35. c., for married persons filing separately “wages, salary, tips, unearned income, and net earnings from a trade or business” means the separate wages, salary, tips, unearned income, and net earnings from a trade or business of each spouse, and for married persons filing jointly “wages, salary, tips, unearned income, and net earnings from a trade or business” means the total wages, salary, tips, unearned income, and net earnings from a trade or business of both spouses.

AB50,1237 Section 1237. 71.05 (6) (b) 35. d. of the statutes is amended to read:

AB50,657,9 71.05 (6) (b) 35. d. Reduce the amount calculated under subd. 35. a., b., or c. to the individual’s aggregate wages, salary, tips, unearned income, and net earnings from a trade or business that are taxable by this state.

AB50,1238 Section 1238. 71.05 (6) (b) 38. c. of the statutes is amended to read:

AB50,657,22 71.05 (6) (b) 38. c. For an individual who is a nonresident or part-year resident of this state, multiply the amount calculated under subd. 38. a. or b., by a fraction the numerator of which is the individual’s wages, salary, tips, unearned income, and net earnings from a trade or business that are taxable by this state and the denominator of which is the individual’s total wages, salary, tips, unearned income, and net earnings from a trade or business. In this subd. 38. c., for married persons filing separately “wages, salary, tips, unearned income, and net earnings from a trade or business” means the separate wages, salary, tips, unearned income, and net earnings from a trade or business of each spouse, and for married persons filing jointly “wages, salary, tips, unearned income, and net earnings from a trade or business” means the total wages, salary, tips, unearned income, and net earnings from a trade or business of both spouses.

AB50,1239 Section 1239. 71.05 (6) (b) 38. d. of the statutes is amended to read:

AB50,658,2 71.05 (6) (b) 38. d. Reduce the amount calculated under subd. 38. a., b., or c. to the individual’s aggregate wages, salary, tips, unearned income, and net earnings from a trade or business that are taxable by this state.

AB50,1240 Section 1240. 71.05 (6) (b) 42. c. of the statutes is amended to read:

AB50,658,15 71.05 (6) (b) 42. c. For an individual who is a nonresident or part-year resident of this state, multiply the amount calculated under subd. 42. a. or b., by a fraction the numerator of which is the individual’s wages, salary, tips, unearned income, and net earnings from a trade or business that are taxable by this state and the denominator of which is the individual’s total wages, salary, tips, unearned income, and net earnings from a trade or business. In this subd. 42. c., for married persons filing separately “wages, salary, tips, unearned income, and net earnings from a trade or business” means the separate wages, salary, tips, unearned income, and net earnings from a trade or business of each spouse, and for married persons filing jointly “wages, salary, tips, unearned income, and net earnings from a trade or business” means the total wages, salary, tips, unearned income, and net earnings from a trade or business of both spouses.

AB50,1241 Section 1241. 71.05 (6) (b) 42. d. of the statutes is amended to read:

AB50,658,19 71.05 (6) (b) 42. d. Reduce the amount calculated under subd. 42. a., b., or c. to the individual’s aggregate wages, salary, tips, unearned income, and net earnings from a trade or business that are taxable by this state.

AB50,1242 Section 1242. 71.05 (6) (b) 43. f. of the statutes is amended to read:

AB50,659,9 71.05 (6) (b) 43. f. An individual who is a nonresident or part-year resident of this state and who claims the subtraction under this subdivision shall multiply the amount calculated under subd. 43. a., b., c., or d. by a fraction the numerator of which is the individual’s wages, salary, tips, unearned income, and net earnings from a trade or business that are taxable by this state and the denominator of which is the individual’s total wages, salary, tips, unearned income, and net earnings from a trade or business. In this subd. 43. f., for married persons filing separately “wages, salary, tips, unearned income, and net earnings from a trade or business” means the separate wages, salary, tips, unearned income, and net earnings from a trade or business of each spouse, and for married persons filing jointly “wages, salary, tips, unearned income, and net earnings from a trade or business” means the total wages, salary, tips, unearned income, and net earnings from a trade or business of both spouses.

AB50,1243 Section 1243. 71.05 (6) (b) 49. a. of the statutes is amended to read:

AB50,659,16 71.05 (6) (b) 49. a. Subject to the definitions provided in subd. 49. b. to g. and the limitations specified in subd. 49. h. to j. for taxable years beginning after December 31, 2013, and subject to the limitation in subd. 49. k. for taxable years beginning after December 31, 2017, and subject to the limitation in subd. 49. m. for taxable years beginning after December 31, 2024, tuition expenses that are paid by a claimant for tuition for a pupil to attend an eligible institution.

AB50,1244 Section 1244. 71.05 (6) (b) 49. m. of the statutes is created to read:

AB50,659,22 71.05 (6) (b) 49. m. For taxable years beginning after December 31, 2024, no modification may be made under this subdivision unless the adjusted gross income of the claimant is less than $100,000 if the claimant is filing as single or head of household, $150,000 if the claimant is married and filing jointly, or $75,000 if the claimant is married and filing separately.

AB50,1245 Section 1245. 71.05 (6) (b) 57. of the statutes is created to read:

AB50,660,4 71.05 (6) (b) 57. For taxable years beginning after December 31, 2024, any increase in the value of a catastrophe savings account, as described in s. 224.28, other than from a deposit into the account, except that the subtraction under this subdivision may not be claimed by an account owner who has made a withdrawal from the account that was not used to pay an expense described in s. 224.28 (3).

AB50,1246 Section 1246. 71.05 (6) (b) 58. of the statutes is created to read:

AB50,660,10 71.05 (6) (b) 58. For taxable years beginning after December 31, 2024, an amount equal to any deposit made during the taxable year to a catastrophe savings account, as described in s. 224.28, by the account owner. The subtraction made under this subdivision may not exceed an amount equal to the amount specified for the account owner under s. 224.28 (4).

AB50,1247 Section 1247. 71.05 (6) (b) 59. of the statutes is created to read:

AB50,660,15 71.05 (6) (b) 59. For taxable years beginning after December 31, 2026, to the extent not otherwise excluded from Wisconsin taxable income if not for this subdivision, the amount of membership dues and expenses paid by the claimant during the taxable year to a labor organization, as defined in s. 5.02 (8m).

AB50,1248 Section 1248. 71.05 (22) (a) (title) of the statutes is amended to read:

AB50,660,18 71.05 (22) (a) (title) Election of deductions; husband and wife spousal deductions.

AB50,1249 Section 1249. 71.05 (22) (f) 1m. of the statutes is amended to read:

AB50,660,24 71.05 (22) (f) 1m. For taxable years beginning after December 31, 1997, in the case of a taxpayer with respect to whom an exemption under sub. (23) (b) 2. or (be) 2. is allowable to another person, the Wisconsin standard deduction shall be the lesser of the amount under subd. 2m. or one of the amounts calculated under subd. 3m., whichever amount under subd. 3m. is greater.

AB50,1250 Section 1250. 71.05 (23) (b) (intro.) of the statutes is amended to read:

AB50,661,3 71.05 (23) (b) (intro.) For taxable years that begin after December 31, 2000, and before January 1, 2025:

AB50,1251 Section 1251. 71.05 (23) (be) of the statutes is created to read:

AB50,661,5 71.05 (23) (be) For taxable years that begin after December 31, 2024:

AB50,661,8 1. A personal exemption of $1,200 if the taxpayer is required to file a return under s. 71.03 (2) (a) 1. or 2. and $1,200 for the taxpayer’s spouse, except if the spouse is filing separately or as a head of household.

AB50,661,10 2. An exemption of $1,200 for each dependent, as defined under section 152 of the Internal Revenue Code, of the taxpayer.

AB50,661,15 3. An additional exemption of $250 if the taxpayer has reached the age of 65 before the close of the taxable year to which his or her tax return relates and $250 for the taxpayer’s spouse if he or she has reached the age of 65 before the close of the taxable year to which his or her tax return relates, except if the spouse is filing separately or as a head of household.

AB50,1252 Section 1252. 71.05 (23) (c) of the statutes is amended to read:

AB50,662,6 71.05 (23) (c) With respect to persons who change their domicile into or from this state during the taxable year and nonresident persons, personal exemptions under pars. (a) and, (b), and (be) shall be limited to the fraction of the amount so determined that Wisconsin adjusted gross income is of federal adjusted gross income. In this paragraph, for married persons filing separately “adjusted gross income” means the separate adjusted gross income of each spouse and for married persons filing jointly “adjusted gross income” means the total adjusted gross income of both spouses. If a person and that person’s spouse are not both domiciled in this state during the entire taxable year, their personal exemptions on a joint return are determined by multiplying the personal exemption that would be available to each of them if they were both domiciled in this state during the entire taxable year by a fraction the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.

AB50,1253 Section 1253. 71.06 (1q) (intro.) of the statutes is amended to read:

AB50,662,13 71.06 (1q) Fiduciaries, single individuals, and heads of households; after 2012 2013 to 2024. (intro.) The tax to be assessed, levied, and collected upon the taxable incomes of all fiduciaries, except fiduciaries of nuclear decommissioning trust or reserve funds, and single individuals and heads of households shall be computed at the following rates for taxable years beginning after December 31, 2012, and before January 1, 2025:

AB50,1254 Section 1254. 71.06 (1r) of the statutes is created to read:

AB50,662,19 71.06 (1r) Fiduciaries, single individuals, and heads of households; after 2024. The tax to be assessed, levied, and collected upon the taxable incomes of all fiduciaries, except fiduciaries of nuclear decommissioning trust or reserve funds, and single individuals and heads of households shall be computed at the following rates for taxable years beginning after December 31, 2024:

AB50,662,20 (a) On all taxable income from $0 to $7,500, 3.5 percent.

AB50,662,22 (b) On all taxable income exceeding $7,500 but not exceeding $15,000, 4.40 percent.

AB50,662,24 (c) On all taxable income exceeding $15,000 but not exceeding $225,000, 5.3 percent.

AB50,663,2 (d) On all taxable income exceeding $225,000 but not exceeding $1,000,000, 7.65 percent.

AB50,663,3 (e) On all taxable income exceeding $1,000,000, 9.80 percent.

AB50,1255 Section 1255. 71.06 (2) (i) (intro.) of the statutes is amended to read:

AB50,663,6 71.06 (2) (i) (intro.) For joint returns, for taxable years beginning after December 31, 2012, and before January 1, 2025:

AB50,1256 Section 1256. 71.06 (2) (j) (intro.) of the statutes is amended to read:

AB50,663,9 71.06 (2) (j) (intro.) For married persons filing separately, for taxable years beginning after December 31, 2012, and before January 1, 2025:

AB50,1257 Section 1257. 71.06 (2) (k) of the statutes is created to read:

AB50,663,12 71.06 (2) (k) For joint returns, for taxable years beginning after December 31, 2024:

AB50,663,13 1. On all taxable income from $0 to $10,000, 3.5 percent.

AB50,663,15 2. On all taxable income exceeding $10,000 but not exceeding $20,000, 4.40 percent.

AB50,663,17 3. On all taxable income exceeding $20,000 but not exceeding $300,000, 5.3 percent.

AB50,663,19 4. On all taxable income exceeding $300,000 but not exceeding $1,000,000, 7.65 percent.

AB50,663,20 5. On all taxable income exceeding $1,000,000, 9.80 percent.

AB50,1258 Section 1258. 71.06 (2) (L) of the statutes is created to read:

AB50,663,23 71.06 (2) (L) For married persons filing separately, for taxable years beginning after December 31, 2024:

AB50,664,1 1. On all taxable income from $0 to $5,000, 3.5 percent.

AB50,664,3 2. On all taxable income exceeding $5,000 but not exceeding $10,000, 4.40 percent.

AB50,664,5 3. On all taxable income exceeding $10,000 but not exceeding $150,000, 5.3 percent.

AB50,664,7 4. On all taxable income exceeding $150,000 but not exceeding $500,000, 7.65 percent.

AB50,664,8 5. On all taxable income exceeding $500,000, 9.80 percent.

AB50,1259 Section 1259. 71.06 (2e) (a) of the statutes is amended to read:

AB50,665,7 71.06 (2e) (a) For taxable years beginning after December 31, 1998, and before January 1, 2000, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1m) and (2) (c) and (d), and for taxable years beginning after December 31, 1999, and before January 1, 2025, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1n), (1p) (a) to (c), (1q) (a) and (b), and (2) (e), (f), (g) 1. to 3., (h) 1. to 3., (i) 1. and 2., and (j) 1. and 2., shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1997, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2000, and before January 1, 2002, the dollar amount in the top bracket under subs. (1p) (c) and (d), (2) (g) 3. and 4. and (h) 3. and 4. shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1999, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB50,1260 Section 1260. 71.06 (2e) (b) of the statutes is amended to read:

AB50,665,20 71.06 (2e) (b) For taxable years beginning after December 31, 2009, and before January 1, 2025, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1p) (d), (1q) (c), and (2) (g) 4., (h) 4., (i) 3., and (j) 3., and the dollar amount in the top bracket under subs. (1p) (e), (1q) (d), and (2) (g) 5., (h) 5., (i) 4., and (j) 4., shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2008, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB50,1261 Section 1261. 71.06 (2e) (bg) of the statutes is created to read:

AB50,666,10 71.06 (2e) (bg) 1. For taxable years beginning after December 31, 2024, the maximum dollar amount in each tax bracket under subs. (1r) (a) and (b) and (2) (k) 1. and 2. and (L) 1. and 2., and the corresponding minimum dollar amount in the next tax bracket under subs. (1r) (b) and (c) and (2) (k) 2. and 3. and (L) 2. and 3. shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1997, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2024, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB50,666,20 2. For taxable years beginning after December 31, 2024, the maximum dollar amount in each tax bracket under subs. (1r) (c) and (2) (k) 3. and (L) 3., and the corresponding minimum dollar amount in the next tax bracket under subs. (1r) (d) and (2) (k) 4. and (L) 4. shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2008, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB50,667,7 3. For taxable years beginning after December 31, 2025, the maximum dollar amount in the tax bracket under subs. (1r) (d) and (2) (k) 4. and (L) 4. and the corresponding dollar amount in the top bracket under subs. (1r) (e) and (2) (k) 5. and (L) 5. shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2024, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

AB50,1262 Section 1262. 71.06 (2m) of the statutes is amended to read: