AB43-ASA2,322,1410
71.05
(1) (i)
Commercial loans. Income from a tax-option corporation that is
11a financial institution, as defined in s. 69.30 (1) (b), including interest, fees, and
12penalties, derived from a commercial loan of $5,000,000 or less provided to a person
13residing or located in this state and used primarily for a business or agricultural
14purpose.
AB43-ASA2,326
15Section
326. 71.06 (1q) (a) of the statutes is amended to read:
AB43-ASA2,322,1816
71.06
(1q) (a) On all taxable income from $0 to $7,500, 4.40 percent, except that
17for taxable years beginning after December 31, 2013, 4.0 percent
and except that the
18rate is 3.50 percent for taxable years beginning after December 31, 2022.
AB43-ASA2,327
19Section
327. 71.06 (1q) (b) of the statutes is amended to read:
AB43-ASA2,322,2320
71.06
(1q) (b) On all taxable income exceeding $7,500 but not exceeding
21$15,000, 5.84 percent, except that for taxable years beginning after December 31,
222018, 5.21 percent
and except that the rate is 4.40 percent for taxable years
23beginning after December 31, 2022.
AB43-ASA2,328
24Section
328. 71.06 (1q) (c) of the statutes is amended to read:
AB43-ASA2,323,4
171.06
(1q) (c) On all taxable income exceeding $15,000 but not exceeding
2$225,000, 6.27 percent, except that for taxable years beginning after December 31,
32020, 5.30 percent
and except that the rate is 4.40 percent for taxable years
4beginning after December 31, 2022.
AB43-ASA2,329
5Section
329. 71.06 (1q) (d) of the statutes is amended to read:
AB43-ASA2,323,76
71.06
(1q) (d) On all taxable income exceeding $225,000, 7.65 percent
, except
7that the rate is 6.50 percent for taxable years beginning after December 31, 2022.
AB43-ASA2,330
8Section
330. 71.06 (2) (i) 1. of the statutes is amended to read:
AB43-ASA2,323,119
71.06
(2) (i) 1. On all taxable income from $0 to $10,000, 4.40 percent, except
10that for taxable years beginning after December 31, 2013, 4.0 percent
and except that
11the rate is 3.50 percent for taxable years beginning after December 31, 2022.
AB43-ASA2,331
12Section
331. 71.06 (2) (i) 2. of the statutes is amended to read:
AB43-ASA2,323,1613
71.06
(2) (i) 2. On all taxable income exceeding $10,000 but not exceeding
14$20,000, 5.84 percent, except that for taxable years beginning after December 31,
152018, 5.21 percent
and except that the rate is 4.40 percent for taxable years
16beginning after December 31, 2022.
AB43-ASA2,332
17Section
332. 71.06 (2) (i) 3. of the statutes is amended to read:
AB43-ASA2,323,2118
71.06
(2) (i) 3. On all taxable income exceeding $20,000 but not exceeding
19$300,000, 6.27 percent, except that for taxable years beginning after December 31,
202020, 5.30 percent
and except that the rate is 4.40 percent for taxable years
21beginning after December 31, 2022.
AB43-ASA2,333
22Section
333. 71.06 (2) (i) 4. of the statutes is amended to read:
AB43-ASA2,323,2423
71.06
(2) (i) 4. On all taxable income exceeding $300,000, 7.65 percent
, except
24that the rate is 6.50 percent for taxable years beginning after December 31, 2022.
AB43-ASA2,334
25Section
334. 71.06 (2) (j) 1. of the statutes is amended to read:
AB43-ASA2,324,3
171.06
(2) (j) 1. On all taxable income from $0 to $5,000, 4.40 percent, except that
2for taxable years beginning after December 31, 2013, 4.0 percent
and except that the
3rate is 3.50 percent for taxable years beginning after December 31, 2022.
AB43-ASA2,335
4Section
335. 71.06 (2) (j) 2. of the statutes is amended to read:
AB43-ASA2,324,85
71.06
(2) (j) 2. On all taxable income exceeding $5,000 but not exceeding
6$10,000, 5.84 percent, except that for taxable years beginning after December 31,
72018, 5.21 percent
and except that the rate is 4.40 percent for taxable years
8beginning after December 31, 2022.
AB43-ASA2,336
9Section
336. 71.06 (2) (j) 3. of the statutes is amended to read:
AB43-ASA2,324,1310
71.06
(2) (j) 3. On all taxable income exceeding $10,000 but not exceeding
11$150,000, 6.27 percent, except that for taxable years beginning after December 31,
122020, 5.30 percent
and except that the rate is 4.40 percent for taxable years
13beginning after December 31, 2022.
AB43-ASA2,337
14Section
337. 71.06 (2) (j) 4. of the statutes is amended to read:
AB43-ASA2,324,1615
71.06
(2) (j) 4. On all taxable income exceeding $150,000, 7.65 percent
, except
16that the rate is 6.50 percent for taxable years beginning after December 31, 2022.
AB43-ASA2,338
17Section 338
. 71.07 (4k) (e) 2. a. of the statutes is amended to read:
AB43-ASA2,325,318
71.07
(4k) (e) 2. a. For taxable years beginning before January 1, 2021, the
19amount of the claim not used to offset the tax due, not to exceed 10 percent of the
20allowable amount of the claim under par. (b) 4., 5., or 6., shall be certified by the
21department of revenue to the department of administration for payment by check,
22share draft, or other draft drawn from the appropriation account under s. 20.835 (2)
23(d). For
subsequent taxable years
beginning after December 31, 2020 and before
24January 1, 2024, the amount of the claim not used to offset the tax due, up to 15
25percent of the allowable amount of the claim under par. (b) 4., 5., or 6., shall be
1certified by the department of revenue to the department of administration for
2payment by check, share draft, or other draft drawn from the appropriation account
3under s. 20.835 (2) (d).
AB43-ASA2,339
4Section 339
. 71.07 (4k) (e) 2. ad. of the statutes is created to read:
AB43-ASA2,325,105
71.07
(4k) (e) 2. ad. For taxable years beginning after December 31, 2023, the
6amount of the claim not used to offset the tax due, not to exceed 25 percent of the
7allowable amount of the claim under par. (b) 4., 5., or 6., shall be certified by the
8department of revenue to the department of administration for payment by check,
9share draft, or other draft drawn from the appropriation account under s. 20.835 (2)
10(d).