76.63776.637 Economic development credit. 76.637(1)(1) Definition. In this section, “claimant” means an insurer who files a claim under this section and is certified under s. 238.301 (2) or s. 560.701 (2), 2009 stats., and authorized to claim tax benefits under s. 238.303 or s. 560.703, 2009 stats. 76.637(2)(2) Filing claims. Subject to the limitations under this section, ss. 238.301 to 238.306, and ss. 560.701 to 560.706, 2009 stats., for taxable years beginning after December 31, 2008, a claimant may claim as a credit against the fees due under s. 76.60, 76.63, 76.65, 76.66, or 76.67 the amount authorized for the claimant under s. 238.303 or s. 560.703, 2009 stats. 76.637(3)(3) Limitations. No credit may be allowed under this section unless the insurer includes with the insurer’s annual return under s. 76.64 a copy of the claimant’s certification under s. 238.301 (2) or s. 560.701 (2), 2009 stats., and a copy of the claimant’s notice of eligibility to receive tax benefits under s. 238.303 (3) or s. 560.703 (3), 2009 stats. 76.637(4)(4) Administration. If an insurer’s certification is revoked under s. 238.305 or s. 560.705, 2009 stats., or if an insurer becomes ineligible for tax benefits under s. 238.302 or s. 560.702, 2009 stats., the insurer may not claim credits under this section for the taxable year that includes the day on which the certification is revoked; the taxable year that includes the day on which the insurer becomes ineligible for tax benefits; or succeeding taxable years and the insurer may not carry over unused credits from previous years to offset the fees imposed under ss. 76.60, 76.63, 76.65, 76.66, or 76.67 for the taxable year that includes the day on which certification is revoked; the taxable year that includes the day on which the insurer becomes ineligible for tax benefits; or succeeding taxable years. 76.637 HistoryHistory: 2009 a. 2; 2011 a. 32. 76.63876.638 Early stage seed investment credit. 76.638(1)(1) Definitions. In this section, “fund manager” means an investment fund manager certified under s. 238.15 (2) or s. 560.205 (2), 2009 stats. 76.638(2)(a)(a) For taxable years beginning after December 31, 2008, subject to the limitations provided under this section and s. 238.15 or s. 560.205, 2009 stats., and except as provided in par. (b), an insurer may claim as a credit against the fees imposed under s. 76.60, 76.63, 76.65, 76.66, or 76.67, 25 percent of the insurer’s investment paid to a fund manager that the fund manager invests in a business certified under s. 238.15 or s. 560.205 (1), 2009 stats. 76.638(2)(b)(b) In the case of a partnership, limited liability company, or tax-option corporation, the computation of the 25 percent limitation under par. (a) shall be determined at the entity level rather than the claimant level and may be allocated among the claimants who make investments in the manner set forth in the entity’s organizational documents. The entity shall provide to the department of revenue and to the department of commerce or the Wisconsin Economic Development Corporation the names and tax identification numbers of the claimants, the amounts of the credits allocated to the claimants, and the computation of the allocations. 76.638(2m)(2m) Limitations. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this section, but the eligibility for, and the amount of, the credit are based on their payment of amounts under sub. (2). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interest or as specially allocated in their organizational documents. 76.638(3)(3) Investment basis. The Wisconsin adjusted basis of any investment for which a credit is claimed under sub. (2) shall be reduced by the amount of the credit that is offset against the fees imposed under s. 76.60, 76.63, 76.65, 76.66, or 76.67. 76.638(4)(4) Carry-forward. If the credit under sub. (2) is not entirely offset against the fees under s. 76.60, 76.63, 76.65, 76.66, or 76.67 otherwise due, the unused balance may be carried forward and credited against those fees for the following 15 years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the expense was made and the year in which the carry-forward credit is claimed. 76.63976.639 Low-income housing credit. 76.639(1)(a)(a) “Allocation certificate” means a statement issued by the authority certifying that a qualified development is eligible for a credit under this subsection and specifying the amount of the credit that the owners of the qualified development may claim. 76.639(1)(b)(b) “Authority” means the Wisconsin Housing and Economic Development Authority. 76.639(1)(c)(c) “Claimant” means an insurer who has an ownership interest in a qualified development and who files a claim under this section. 76.639(1)(d)(d) “Compliance period” means the 15-year period beginning with the first taxable year of the credit period. 76.639(1)(e)(e) “Credit period” means the period of 6 taxable years beginning with the taxable year in which a qualified development is placed in service. For purposes of this paragraph, if a qualified development consists of more than one building, the qualified development is placed in service in the taxable year in which the last building of the qualified development is placed in service. 76.639(1)(f)(f) “Qualified basis” means the qualified basis determined under section 42 (c) (1) of the Internal Revenue Code. 76.639(1)(g)(g) “Qualified development” means a qualified low-income housing project under section 42 (g) of the Internal Revenue Code that is financed with tax-exempt bonds, pursuant to section 42 (i) (2) of the Internal Revenue Code, and located in this state. 76.639(2)(2) Filing claims. Subject to the limitations provided in this section and in s. 234.45, for taxable years beginning after December 31, 2017, a claimant may claim as a credit against the fees imposed under s. 76.60, 76.63, 76.65, 76.66, or 76.67 the amount allocated to the claimant by the authority under s. 234.45 for each taxable year within the credit period. 76.639(3)(3) Limitations. No insurer may claim the credit under sub. (2) unless the claimant includes with the claimant’s return a copy of the allocation certificate issued to the qualified development. 76.639(4)(a)(a) As of the last day of any taxable year during the compliance period, if the amount of the qualified basis of a qualified development with respect to a claimant is less than the amount of the qualified basis as of the last day of the immediately preceding taxable year, the amount of the claimant’s tax liability under s. 76.60, 76.63, 76.65, 76.66, or 76.67 shall be increased by the recapture amount determined by using the method under section 42 (j) of the Internal Revenue Code. 76.639(4)(b)(b) In the event that the recapture of any credit is required in any taxable year, the taxpayer shall include the recaptured proportion of the credit on the return submitted for the taxable year in which the recapture event is identified. 76.639(5)(5) Carry-forward. If the credit under sub. (2) is not entirely offset against the fees under s. 76.60, 76.63, 76.65, 76.66, or 76.67 otherwise due, the unused balance may be carried forward and credited against those fees for the following 15 years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the expense was made and the year in which the carry-forward credit is claimed. 76.639 HistoryHistory: 2017 a. 176. 76.6476.64 Quarterly installments. Insurers shall pay installments of the total estimated payment under ss. 76.60, 76.63, 76.65 and 76.66 on or before April 15, June 15, September 15 and December 15. Every insurer shall make a return for the preceding calendar year on or before March 1 setting forth the information that the commissioner of insurance reasonably requires, on forms prescribed by the commissioner. On or before March 1, the insurer shall pay any additional amount due for the preceding calendar year. Overpayment will be credited on the amount due April 15. 76.64 HistoryHistory: 1979 c. 102 s. 24; Stats. 1979 s. 76.64; 1981 c. 20; 1985 a. 29; 1989 a. 31. 76.645(1)(1) Late payment. An insurer that fails to make quarterly payments under s. 76.64 of at least 25 percent of either the total tax paid for the previous calendar year or 80 percent of the actual tax for the current calendar year is liable, in addition to the amount due, for interest of 1.5 percent of the amount due and unpaid for each month or part of a month that the amount due, together with any interest, remains unpaid. 76.645(2)(2) Negligence. An insurer that fails to pay an amount due, or file a return required, under s. 76.64, and upon a showing by the department of revenue under s. 73.16 (4), is liable for the greater of the following amounts: 76.645(2)(b)(b) Five percent of the amount due for each month or fraction of a month during which the failure continues, but not more than 25 percent of the amount due. 76.645 HistoryHistory: 1985 a. 29; 2011 a. 68. 76.6576.65 Life insurers; license fee. Every insurer doing a life insurance business within this state, except fraternals as defined in s. 614.01, shall pay into the state treasury as an annual license fee for transacting such business the amounts following: 76.65(1)(a)(a) If such insurer is organized under the laws of this state, it shall pay as an annual license fee 3.5 percent upon its gross income from all sources for the preceding calendar year except interest required to provide and maintain reserves according to the laws of this state, and except premiums collected on policies of insurance and contracts for annuities. No domestic insurer shall, however, in any year pay in the aggregate for license fee as prescribed in this paragraph an amount in excess of the annual license fee which would have been payable by it in such year under sub. (2) had it been operating as a foreign insurer subject to sub. (2). Any domestic insurer having in excess of $750,000,000 of insurance in force as of December 31 of the preceding calendar year, excluding therefrom any reinsurance assumed on which premium taxes are payable by the ceding insurer, shall not pay less in the aggregate for a license fee as prescribed in this paragraph than the amount of the annual license fee which would have been payable by it in such year under sub. (2) had it been operating as a foreign insurer subject to sub. (2). Payments under this paragraph shall be made annually on or before March 1. 76.65(1)(b)(b) In computing the fee under par. (a), the amount of such gross income shall, after deducting the excepted portions thereof, be multiplied by a fraction the numerator of which is the net investment income applicable to life insurance and annuities and the denominator of which is the total net investment income, as set forth in the annual statement forms for such year as approved by the commissioner of insurance. 76.65(2)(2) Foreign insurers. If any such insurer is organized outside of this state, it shall pay into the state treasury, as such annual license fee, 2 percent upon the excess of the gross premiums received in money or otherwise during the preceding calendar year on all policies or contracts of insurance on the lives of residents of this state after deducting all sums apportioned to premium paying policies on the lives of residents of this state from annual distribution of profits, savings, earnings or surplus which before the expiration of the calendar year next succeeding such apportionment have been either paid in cash or applied in part payment of premiums. 76.65 HistoryHistory: 1971 c. 215, 289; 1975 c. 373; 1979 c. 102 s. 25; Stats. 1979 s. 76.65; 1981 c. 20. 76.65 AnnotationLife insurance policy dividends left with the insurance company to accumulate at interest beyond the expiration of the calendar year are not to be treated as dividends “paid in cash” under s. 76.34 (2) [now s. 76.65]. Because of long-standing administrative construction, current dividends applied to purchase additional paid-up insurance are not reportable as gross premiums and thus, not taxable under s. 76.34 (2). Accumulated dividends so applied are reportable and taxable. 59 Atty. Gen. 152.
76.65576.655 Health Insurance Risk-Sharing Plan assessments credit. 76.655(1)(1) Definitions. In this section, “claimant” means an insurer, as defined in s. 149.10 (5), 2011 stats., who files a claim under this section. 76.655(2)(2) Filing claims. Subject to the limitations provided under this section, for taxable years beginning after December 31, 2005, and before January 1, 2015, a claimant may claim as a credit against the fees imposed under ss. 76.60, 76.63, 76.65, 76.66 or 76.67 an amount that is equal to the amount of assessment under s. 149.13, 2011 stats., that the claimant paid in the claimant’s taxable year, multiplied by the percentage determined under sub. (3). 76.655(3)(a)(a) The department of revenue, in consultation with the office of the commissioner of insurance, shall determine the percentage under sub. (2) for each claimant for each taxable year. The percentage shall be equal to $5,000,000 divided by the aggregate assessment under s. 149.13, 2011 stats., except that for taxable years beginning after December 31, 2013, and before January 1, 2015, the percentage shall be equal to $1,250,000 divided by the aggregate assessment under s. 149.13, 2011 stats., and shall not exceed 100 percent. The office of the commissioner of insurance shall provide to each claimant that participates in the cost of administering the plan the aggregate assessment at the time that it notifies the claimant of the claimant’s assessment. The aggregate amount of the credit under this subsection and ss. 71.07 (5g), 71.28 (5g), and 71.47 (5g) for all claimants participating in the cost of administering the plan under ch. 149, 2011 stats., shall not exceed $5,000,000 in each fiscal year. 76.655(3)(b)(b) The amount of any credits that a claimant is awarded under this section for taxable years beginning after December 31, 2005, and before January 1, 2008, may first be claimed against the fees imposed under ss. 76.60, 76.63, 76.65, or 76.67 for taxable years beginning after December 31, 2007, and in the manner determined by the department of revenue. 76.655(4)(4) Carry-forward. If the credit under sub. (2) is not entirely offset against the fees imposed under ss. 76.60, 76.63, 76.65, 76.66, or 76.67 that are otherwise due, the unused balance may be carried forward and credited against those fees in the following 15 years to the extent that it is not offset by those fees otherwise due in all the years between the year in which the assessment was paid and the year in which the carry-forward credit is claimed. 76.655(5)(5) Sunset. No credit may be claimed under this section for taxable years beginning after December 31, 2014. Credits under this section for taxable years that begin before January 1, 2015, may be carried forward to taxable years that begin after December 31, 2014. 76.655 HistoryHistory: 2005 a. 74; 2013 a. 20, 116. 76.6676.66 Retaliatory taxation of nondomestic insurers. 76.66(1)(1) In this section, “taxes” means the taxes imposed on nondomestic insurers under ss. 76.60, 76.63, 76.65 (2) and 601.93 less offsets allowed against those taxes under s. 646.51 (7) or the amounts imposed on domestic insurers by another state or foreign country for similar purposes. 76.66(2)(2) If another state or foreign country requires a domestic insurer doing business in that state or country to pay taxes greater in the aggregate than the aggregate amount of taxes that a nondomestic insurer doing business in this state would pay, each insurer domiciled in that state or foreign country shall pay to this state for the same year the amount that a domestic insurer doing a similar business would be required to pay to the other state or foreign country. 76.66 HistoryHistory: 1979 c. 102 s. 26; Stats. 1979 s. 76.66; 1983 a. 27; 1989 a. 31. 76.66 AnnotationSection 646.51 (7) is applicable to franchise taxes, income taxes, and fire department dues. Only Wisconsin’s assessments are used for offsets against Wisconsin taxes. If assessments are reimbursed, the tax credit should be recaptured. 72 Atty. Gen. 17. 76.6776.67 Reciprocal taxation of foreign insurers. 76.67(1)(1) In this section, “taxes” means the taxes imposed on foreign insurers under ss. 76.60, 76.63, 76.65 (2) and 601.93 less offsets allowed against those taxes under s. 646.51 (7) or the amounts imposed on domestic insurers by another state for similar purposes. 76.67(2)(2) If any domestic insurer is licensed to transact insurance business in another state, this state may not require similar insurers domiciled in that other state to pay taxes greater in the aggregate than the aggregate amount of taxes that a domestic insurer is required to pay to that other state for the same year less the credits under ss. 76.635, 76.636, 76.637, 76.638, and 76.655, except that the amount imposed shall not be less than the total of the amounts due under ss. 76.65 (2) and 601.93 and, if the insurer is subject to s. 76.60, 0.375 percent of its gross premiums, as calculated under s. 76.62, less offsets allowed under s. 646.51 (7) or under ss. 76.635, 76.636, 76.637, 76.638, 76.639, and 76.655 against that total, and except that the amount imposed shall not be less than the amount due under s. 601.93. 76.6876.68 License; issuance; collection of fees. 76.68(1)(1) Every license issued under this subchapter and chs. 600 to 646 shall certify that payment of the license fee or tax and the fee required by s. 601.31 (1) (b) has been made, be signed by the commissioner of insurance and be in a form approved by the attorney general. 76.68(2)(2) No suit may be brought to restrain or enjoin the collection of any license fee or tax imposed or provided for by this subchapter, and the fees required by s. 601.31. Any action to recover any license fee or tax imposed or provided for by this subchapter or any fee required under s. 601.31, shall be brought in the circuit court for Dane County within 6 months from the time of the payment. The state may be served in the suit as provided in s. 801.11 (3). This subsection is the exclusive remedy by which to recover any license fee or tax imposed or provided for by this subchapter or any fee required under s. 601.31. 76.68(3)(3) No action may be commenced to compel the issuance of the certificate of authority provided for by chs. 600 to 646 until the license fee imposed by this subchapter and the fees under s. 601.31 have been fully paid. 76.68(4)(4) The attorney general shall institute suit in the circuit court for Dane County to recover any license fees or tax not paid within the time prescribed by this subchapter, and the fees required by s. 601.31. 76.68 HistoryHistory: 1971 c. 40 s. 93; 1971 c. 260; Sup. Ct. Order, 67 Wis. 2d 585, 773 (1975); 1977 c. 339; 1979 c. 32 s. 92 (5); 1979 c. 89 s. 543; 1979 c. 102 ss. 26, 237; 1979 c. 177; Stats. 1979 s. 76.68; 2007 a. 170. TELEPHONE COMPANY TAX
76.8076.80 Definitions. In this subchapter: 76.80(1)(1) “Department” means the department of revenue. 76.80(2)(2) “Qualified broadband service property” means tangible personal property that meets any of the following standards: 76.80(2)(a)(a) The property is installed in a rural area prior to January 1, 2020, and is used to provide Internet access service to the rural area at actual speeds that are at least a download speed of 25 megabits per second and an upload speed of 3 megabits per second. 76.80(2)(b)(b) The property is installed in a rural or underserved area after December 31, 2019, and is used to provide Internet access service to the rural or underserved area at actual speeds that meet or exceed the higher of the following thresholds: 76.80(2)(b)1.1. A download speed of 25 megabits per second and an upload speed of 3 megabits per second. 76.80(2)(b)2.2. The download and upload speed benchmarks for fixed services as designated by the federal communications commission in its inquiries regarding advanced telecommunications capability under 47 USC 1302 (b). 76.80(2m)(2m) “Rural area” means an area in this state that is located outside a federal metropolitan statistical area or is located in a city, village, or town with a population of not more than 14,000 and a population density of not more than 2,500 per square mile. For purposes of sub. (2) (a), the determination of whether an area meets the criteria of this subsection shall be made on the basis of the 2010 federal decennial census, except that the determination of population density shall be made using the 2017 population density per square mile by municipality estimates available from the department of administration. 76.80(3)(3) “Telecommunications services” means the transmission of voice, video, facsimile or data messages, including telegraph messages, except that “telecommunications services” does not include video service, as defined in s. 66.0420 (2) (y), radio, one-way radio paging or transmitting messages incidental to transient occupancy in hotels, as defined in s. 97.01 (7). 76.80(4)(4) “Telephone company” means any person that provides to another person telecommunications services, including the resale of services provided by another telephone company. “Telephone company” does not include a person who operates a private shared telecommunications system, as defined in s. 196.201 (1), and who is not otherwise a telephone company. 76.80(5)(5) “Underserved area” means an area in this state in which Internet access service at the highest speed threshold described in sub. (2) (b) is not available from at least 2 wired providers. 76.81(1)(1) Except as provided in sub. (2), there is imposed a tax on the real property of, and the tangible personal property of, every telephone company, excluding property that is exempt from the property tax under s. 70.11 (39) and (39m), motor vehicles that are exempt under s. 70.112 (5), property that is used less than 50 percent in the operation of a telephone company, as provided under s. 70.112 (4) (b), treatment plant and pollution abatement equipment that is exempt under s. 70.11 (21), and qualified broadband service property. Except as provided in s. 76.815, the rate for the tax imposed on each description of real property and on each item of tangible personal property is the net rate for the prior year for the tax under ch. 70 in the taxing jurisdictions where the description or item is located. The real and tangible personal property of a telephone company shall be assessed as provided under s. 70.112 (4) (b). 76.81(2)(2) Beginning with the assessments as of January 1, 2027, the tangible personal property of a telephone company is exempt from taxation under this subchapter.
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