AB2-SSA1,17,1510 71.05 (6) (b) 19. c. For taxable years beginning before January 1, 2021, for a
11person who is a nonresident or a part-year resident of this state, modify the amount
12calculated under subd. 19. b. by multiplying the amount by a fraction the numerator
13of which is the person's net earnings from a trade or business that are taxable by this
14state and the denominator of which is the person's total net earnings from a trade
15or business.

AB2-SSA1,18,417 71.05 (6) (b) 19. cm. For taxable years beginning after December 31, 2020, for
18a person who is a nonresident or a part-year resident of this state, modify the amount
19calculated under subd. 19. b. by multiplying the amount by a fraction the numerator
20of which is the person's wages, salary, tips, unearned income, and net earnings from
21a trade or business that are taxable by this state and the denominator of which is the
22person's total wages, salary, tips, unearned income, and net earnings from a trade
23or business. In this subd. 19. cm., for married persons filing separately “ wages,
24salary, tips, unearned income, and net earnings from a trade or business" means the
25separate wages, salary, tips, unearned income, and net earnings from a trade or

1business of each spouse, and for married persons filing jointly “ wages, salary, tips,
2unearned income, and net earnings from a trade or business" means the total wages,
3salary, tips, unearned income, and net earnings from a trade or business of both
4spouses.

AB2-SSA1,18,86 71.05 (6) (b) 19. d. Reduce For taxable years beginning before January 1, 2021,
7reduce the amount calculated under subd. 19. b. or c. to the person's aggregate net
8earnings from a trade or business that are taxable by this state.

AB2-SSA1,18,1310 71.05 (6) (b) 19. dm. For taxable years beginning after December 31, 2020,
11reduce the amount calculated under subd. 19. b. or cm. to the person's aggregate
12wages, salary, tips, unearned income, and net earnings from a trade or business that
13are taxable by this state.

AB2-SSA1,18,2217 71.05 (6) (b) 54. Except for a payment that is exempt under sub. (1) (a), (am),
18or (an), or that is exempt as a railroad retirement benefit, for taxable years beginning
19after December 31, 2020, up to $5,000 of payments or distributions received each
20year by an individual from a qualified retirement plan under the Internal Revenue
21Code or from an individual retirement account established under 26 USC 408, if all
22of the following conditions apply:

AB2-SSA1,18,2423 a. The individual is at least 65 years of age before the close of the taxable year
24to which the exemption claim relates.

AB2-SSA1,19,3

1b. If the individual is single or files as head of household, his or her federal
2adjusted gross income in the year to which the exemption claim relates is less than
3$15,000.

AB2-SSA1,19,54 c. If the individual is married and is a joint filer, the couple's federal adjusted
5gross income in the year to which the exemption claim relates is less than $30,000.

AB2-SSA1,19,86 d. If the individual is married and files a separate return, the sum of both
7spouses' federal adjusted gross income in the year to which the exemption claim
8relates is less than $30,000.

AB2-SSA1,19,1510 71.07 (5) (a) 15. The amount claimed as a deduction for medical care insurance
11under section 213 of the Internal Revenue Code that is exempt from taxation under
12s. 71.05 (6) (b) 17. to 20. 19., 35., 36., 37., 38., 39., 40., 41., and 42. and the amount
13claimed as a deduction for a long-term care insurance policy under section 213 (d)
14(1) (D) of the Internal Revenue Code, as defined in section 7702B (b) of the Internal
15Revenue Code that is exempt from taxation under s. 71.05 (6) (b) 26.

AB2-SSA1,20,317 71.07 (9m) (h) Any person, including a nonprofit entity described in section 501
18(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
19par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
20imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
21transfer, and submits with the notification a copy of the transfer documents, and the
22department certifies ownership of the credit with each transfer. The transferor may
23file a claim for more than one taxable year on a form prescribed by the department
24to compute all years of the credit under par. (a) 2m. or 3., at the time of the transfer
25request. The transferee may first use the credit to offset tax in the taxable year of

1the transferor in which the transfer occurs and may use the credit only to offset tax
2in taxable years otherwise allowed to be claimed and carried forward by the original
3claimant.

AB2-SSA1,20,76 71.22 (4) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q), 104 (a), and 109 of
7division U of P.L. 115-141.

AB2-SSA1,20,109 71.22 (4) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
10of division O of P.L. 116-94.

AB2-SSA1,20,1712 71.22 (4) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
13not include amendments to the federal Internal Revenue Code enacted after
14December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
1511025, and 13543 of P.L. 115-97; sections 40307 and 40413 of P.L. 115-123, sections
16101 (m), (n), (o), (p), and (q), 104 (a), and 109 of division U of 115-141; and section
17102 of division M and sections 110, 111, and 116 (b) of division O of P.L. 116-94.

AB2-SSA1,20,2319 71.22 (4) (L) 1. For taxable years beginning after December 31, 2017, and
20before January 1, 2021, “Internal Revenue Code" means the federal Internal
21Revenue Code as amended to December 31, 2017, except as provided in subds. 2. and
223. and subject to subd. 4., and except as provided in sub. (4m) and ss. 71.26 (2) (b) and
23(3), 71.34 (1g), 71.42 (2), and 71.98.