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).
AB43-ASA2,340
11Section 340
. 71.07 (4k) (e) 2. b. of the statutes is amended to read:
AB43-ASA2,325,1712
71.07
(4k) (e) 2. b. The amount of the claim not used to offset the tax due and
13not certified for payment under subd. 2. a.
or 2. ad. may be carried forward and
14credited against Wisconsin income taxes otherwise due for the following 15 taxable
15years to the extent not offset by these taxes otherwise due in all intervening years
16between the year in which the expense was incurred and the year in which the
17carry-forward credit is claimed.
AB43-ASA2,341
18Section 341
. 71.26 (1) (i) of the statutes is created to read:
AB43-ASA2,325,2219
71.26
(1) (i)
Commercial loans. Income of a financial institution, as defined in
20s. 69.30 (1) (b), including interest, fees, and penalties, derived from a commercial loan
21of $5,000,000 or less provided to a person residing or located in this state and used
22primarily for a business or agricultural purpose.
AB43-ASA2,342
23Section 342
. 71.28 (4) (k) 1. b. of the statutes is amended to read:
AB43-ASA2,326,424
71.28
(4) (k) 1. b.
For taxable years beginning after December 31, 2020 and
25before January 1, 2024, the amount of the claim not used to offset the tax due, up to
115 percent of the allowable amount of the claim under par. (ad) 4., 5., or 6., shall be
2certified by the department of revenue to the department of administration for
3payment by check, share draft, or other draft drawn from the appropriation account
4under s. 20.835 (2) (d).