AB68-SSA1,662,1413
3. On all taxable income exceeding $47,880 but not exceeding $300,000, 5.20
14percent.
AB68-SSA1,662,1615
4. On all taxable income exceeding $300,000 but not exceeding $526,960, 6.27
16percent.
AB68-SSA1,662,1717
5. On all taxable income exceeding $526,960, 7.65 percent.
AB68-SSA1,1299
18Section
1299. 71.06 (2) (L) of the statutes is created to read:
AB68-SSA1,662,2019
71.06
(2) (L) For married persons filing separately, for taxable years beginning
20after December 31, 2021:
AB68-SSA1,662,2121
1. On all taxable income from $0 to $11,970, 3.54 percent.
AB68-SSA1,662,2322
2. On all taxable income exceeding $11,970 but not exceeding $23,930, 4.65
23percent.
AB68-SSA1,662,2524
3. On all taxable income exceeding $23,930 but not exceeding $150,000, 5.20
25percent.
AB68-SSA1,663,2
14. On all taxable income exceeding $150,000 but not exceeding $263,480, 6.27
2percent.
AB68-SSA1,663,33
5. On all taxable income exceeding $263,480, 7.65 percent.
AB68-SSA1,1300
4Section
1300. 71.06 (2e) (a) of the statutes is amended to read:
AB68-SSA1,663,255
71.06
(2e) (a) For taxable years beginning after December 31, 1998, and before
6January 1, 2000, the maximum dollar amount in each tax bracket, and the
7corresponding minimum dollar amount in the next bracket, under subs. (1m) and (2)
8(c) and (d), and for taxable years beginning after December 31, 1999,
and before
9January 1, 2022, the maximum dollar amount in each tax bracket, and the
10corresponding minimum dollar amount in the next bracket, under subs. (1n), (1p) (a)
11to (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
122., shall be increased each year by a percentage equal to the percentage change
13between the U.S. consumer price index for all urban consumers, U.S. city average,
14for the month of August of the previous year and the U.S. consumer price index for
15all urban consumers, U.S. city average, for the month of August 1997, as determined
16by the federal department of labor, except that for taxable years beginning after
17December 31, 2000, and before January 1, 2002, the dollar amount in the top bracket
18under subs. (1p) (c) and (d), (2) (g) 3. and 4. and (h) 3. and 4. shall be increased by a
19percentage equal to the percentage change between the U.S. consumer price index
20for all urban consumers, U.S. city average, for the month of August of the previous
21year and the U.S. consumer price index for all urban consumers, U.S. city average,
22for the month of August 1999, as determined by the federal department of labor,
23except that for taxable years beginning after December 31, 2011, the adjustment may
24occur only if the resulting amount is greater than the corresponding amount that was
25calculated for the previous year.
AB68-SSA1,1301
1Section
1301. 71.06 (2e) (b) of the statutes is amended to read:
AB68-SSA1,664,132
71.06
(2e) (b) For taxable years beginning after December 31, 2009,
and before
3January 1, 2022, the maximum dollar amount in each tax bracket, and the
4corresponding minimum dollar amount in the next bracket, under subs. (1p) (d), (1q)
5(c), and (2) (g) 4., (h) 4., (i) 3., and (j) 3., and the dollar amount in the top bracket under
6subs. (1p) (e), (1q) (d), and (2) (g) 5., (h) 5., (i) 4., and (j) 4., shall be increased each year
7by a percentage equal to the percentage change between the U.S. consumer price
8index for all urban consumers, U.S. city average, for the month of August of the
9previous year and the U.S. consumer price index for all urban consumers, U.S. city
10average, for the month of August 2008, as determined by the federal department of
11labor, except that for taxable years beginning after December 31, 2011, the
12adjustment may occur only if the resulting amount is greater than the corresponding
13amount that was calculated for the previous year.
AB68-SSA1,1302
14Section
1302. 71.06 (2e) (bg) of the statutes is created to read:
AB68-SSA1,664,2515
71.06
(2e) (bg) 1. For taxable years beginning after December 31, 2021, the
16maximum dollar amount in each tax bracket under subs. (1r) (a) and (b) and (2) (k)
171. and 2. and (L) 1. and 2., and the corresponding minimum dollar amount in the next
18tax bracket under subs. (1r) (b) and (c) and (2) (k) 2. and 3. and (L) 2. and 3. shall be
19increased each year by a percentage equal to the percentage change between the U.S.
20consumer price index for all urban consumers, U.S. city average, for the month of
21August of the previous year and the U.S. consumer price index for all urban
22consumers, U.S. city average, for the month of August 1997, as determined by the
23federal department of labor, except that for taxable years beginning after December
2431, 2021, the adjustment may occur only if the resulting amount is greater than the
25corresponding amount that was calculated for the previous year.
AB68-SSA1,665,10
12. For taxable years beginning after December 31, 2021, the maximum dollar
2amount in each tax bracket under subs. (1r) (c) and (2) (k) 3. and (L) 3., and the
3corresponding minimum dollar amount in the next tax bracket under subs. (1r) (d)
4and (2) (k) 4. and (L) 4. shall be increased each year by a percentage equal to the
5percentage change between the U.S. consumer price index for all urban consumers,
6U.S. city average, for the month of August of the previous year and the U.S. consumer
7price index for all urban consumers, U.S. city average, for the month of August 2008,
8as determined by the federal department of labor, except that the adjustment may
9occur only if the resulting amount is greater than the corresponding amount that was
10calculated for the previous year.
AB68-SSA1,665,2011
3. For taxable years beginning after December 31, 2022, the maximum dollar
12amount in the tax bracket under subs. (1r) (d) and (2) (k) 4. and (L) 4. and the
13corresponding dollar amount in the top bracket under subs. (1r) (e) and (2) (k) 5. and
14(L) 5. shall be increased each year by a percentage equal to the percentage change
15between the U.S. consumer price index for all urban consumers, U.S. city average,
16for the month of August of the previous year and the U.S. consumer price index for
17all urban consumers, U.S. city average, for the month of August 2020, as determined
18by the federal department of labor, except that the adjustment may occur only if the
19resulting amount is greater than the corresponding amount that was calculated for
20the previous year.
AB68-SSA1,1303
21Section
1303. 71.06 (2m) of the statutes is amended to read:
AB68-SSA1,665,2522
71.06
(2m) Rate changes. If a rate under sub. (1), (1m), (1n), (1p), (1q),
(1r), 23or (2) changes during a taxable year, the taxpayer shall compute the tax for that
24taxable year by the methods applicable to the federal income tax under section
15 of
25the Internal Revenue Code.
AB68-SSA1,1304
1Section
1304. 71.06 (2s) (d) of the statutes is amended to read:
AB68-SSA1,666,152
71.06
(2s) (d) For taxable years beginning after December 31, 2000, with
3respect to nonresident individuals, including individuals changing their domicile
4into or from this state, the tax brackets under subs. (1p), (1q),
(1r), and (2) (g), (h),
5(i),
and (j)
, (k), and (L) shall be multiplied by a fraction, the numerator of which is
6Wisconsin adjusted gross income and the denominator of which is federal adjusted
7gross income. In this paragraph, for married persons filing separately “
adjusted
8gross income" means the separate adjusted gross income of each spouse, and for
9married persons filing jointly “adjusted gross income" means the total adjusted gross
10income of both spouses. If an individual and that individual's spouse are not both
11domiciled in this state during the entire taxable year, the tax brackets under subs.
12(1p), (1q),
(1r), and (2) (g), (h), (i),
and (j)
, (k), and (L) on a joint return shall be
13multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted
14gross income and the denominator of which is their joint federal adjusted gross
15income.
AB68-SSA1,1305
16Section
1305. 71.07 (3q) (c) 1. of the statutes is renumbered 71.07 (3q) (c) 1.
17a. and amended to read:
AB68-SSA1,667,218
71.07
(3q) (c) 1. a.
Partnerships
Except as provided in subd. 1. b., partnerships,
19limited liability companies, and tax-option corporations may not claim the credit
20under this subsection, but the eligibility for, and the amount of, the credit are based
21on their payment of amounts under par. (b). A partnership, limited liability company,
22or tax-option corporation shall compute the amount of credit that each of its
23partners, members, or shareholders may claim and shall provide that information
24to each of them. Partners, members of limited liability companies, and shareholders
1of tax-option corporations may claim the credit in proportion to their ownership
2interests.
AB68-SSA1,1306
3Section
1306. 71.07 (3q) (c) 1. b. of the statutes is created to read:
AB68-SSA1,667,164
71.07
(3q) (c) 1. b. For taxable years beginning after December 31, 2020,
5partnerships, limited liability companies, and tax-option corporations may elect to
6claim the credit under this subsection, if the credit results from a contract entered
7into with the Wisconsin Economic Development Corporation before December 22,
82017. A partnership, limited liability company, or tax-option corporation that
9wishes to make the election under this subd. 1. b. shall make the election for each
10taxable year on its original return and may not subsequently make or revoke the
11election. If a partnership, limited liability company, or tax-option corporation elects
12to claim the credit under this subsection, the partners, members, and shareholders
13may not claim the credit under this subsection. The credit may not be claimed under
14this subd. 1. b. if one or more partners, members, or shareholders have claimed the
15credit under this subsection for the same taxable year for which the credit is claimed
16under this subd. 1. b.
AB68-SSA1,1307
17Section
1307. 71.07 (3w) (a) 1. of the statutes is renumbered 71.07 (3w) (a) 1.
18a. and amended to read:
AB68-SSA1,667,2119
71.07
(3w) (a) 1. a.
“Base
Except as provided in subd. 1. b., “base year" means
20the taxable year beginning during the calendar year prior to the calendar year in
21which the enterprise zone in which the claimant is located takes effect.
AB68-SSA1,1308
22Section
1308. 71.07 (3w) (a) 1. b. of the statutes is created to read: