SB720,30,14 74.315 (2) Equalized valuation Amount determined. After receiving the form under sub. (1), but no later than November 15, the department of revenue shall determine the amount of any change in the taxation district's equalized valuation that results from considering the valuation represented by the taxes described under sub. (1) taxes to be shared with each taxing jurisdiction for which the taxation district collected taxes and determine the amount of taxes collected under s. 70.44 to be shared with each taxing jurisdiction for which the taxation district collected taxes. The department's determination under this subsection is subject to review only under s. 227.53.

SB720,51 Section 51 . 74.315 (3) of the statutes is amended to read:

SB720,30,21 74.315 (3) Notice and distribution. If the department of revenue determines under sub. (2) that the taxation district's equalized valuation changed as a result of considering the valuation represented by the taxes described under sub. (1), the The department shall notify the taxation district and the taxation district shall distribute the resulting collections under ss. 74.23 (1) (a) 5., 74.25 (1) (a) 4m., and 74.30 (1) (dm) resulting from the determinations made under sub. (2).

SB720,52 Section 52. 76.04 (1) of the statutes is amended to read:

SB720,31,2 76.04 (1) Every company defined in s. 76.02 shall, annually, file a true and accurate statement in such manner and form and setting forth such facts as the department shall deem necessary to enforce ss. 76.01 to 76.26. The annual reports for railroad companies shall be filed on or before April 15 and for conservation and regulation companies, air carriers and pipeline companies on or before May 1.

SB720,53 Section 53. 76.07 (1) of the statutes is amended to read:

SB720,31,9 76.07 (1) Duty of department. The department on or before August 1 September 15 in each year in the case of railroad companies, and on or before September 15 in the case of air carrier companies, conservation and regulation companies and pipeline companies, shall, according to its best knowledge and judgment, ascertain and determine the full market value of the property of each company within the state.

SB720,54 Section 54. 76.075 of the statutes is amended to read:

SB720,31,25 76.075 Adjustments of assessments. Within 4 years after the due date, or extended due date, of the report under s. 76.04, any person subject to taxation under this subchapter may request the department to make, or the department may make, an adjustment to the data under s. 76.07 (4g) or (4r) submitted by the person. If an adjustment under this section results in an increase in the tax due under this subchapter, the person shall pay the amount of the tax increase plus interest on that amount at the rate of 1 percent per month from the due date or extended due date of the report under s. 76.04 until the date of final determination and interest at the rate of 1.5 percent per month from the date of final determination until the date of payment. If an adjustment under this section results in a decrease in the tax due under this subchapter, the department shall refund the appropriate amount plus interest at the rate of 0.75 0.25 percent per month from the due date or extended due date under s. 76.04 until the date of refund. Sections 71.74 (1) and (2) and 71.75 (6) and (7), as they apply to income and franchise tax adjustments, apply to adjustments under this section. Review of the adjustments is as stated in s. 76.08.

SB720,55 Section 55. 76.13 (3) of the statutes is amended to read:

SB720,32,13 76.13 (3) If the Dane County circuit court, after such roll is delivered to the secretary of administration, increases or decreases the assessment of any company, the department shall immediately redetermine the tax of the company on the basis of the revised assessment, and shall certify and deliver the revised assessment to the secretary of administration as a revision of the tax roll. If the amount of tax upon the assessment as determined by the court is less than the amount paid by the company, the secretary of administration shall refund the excess to the company with interest at the rate of 9 3 percent per year. If the amount of the tax upon the assessment as determined by the court is in excess of the amount of the tax as determined by the department, interest shall be paid on the additional amount at the rate of 12 percent per year from the date of entry of judgment to the date the judgment becomes final, and at 1.5 percent per month thereafter until paid.

SB720,56 Section 56. 76.28 (4) (b) of the statutes is amended to read:

SB720,32,23 76.28 (4) (b) In the case of overpayments of license fees by any light, heat and power company under par. (a), the department shall certify the overpayments to the department of administration, which shall audit the amount of the overpayments and the secretary of administration shall pay the amounts determined by means of the audit. All refunds of license fees under this subsection shall bear interest at the annual rate of 9 3 percent from the date of the original payment to the date when the refund is made. The time for making additional levies of license fees or claims for refunds of excess license fees paid, in respect to any year, shall be limited to 4 years after the time the report for such year was filed.

SB720,57 Section 57. 76.28 (11) of the statutes is amended to read:

SB720,33,7 76.28 (11) Payment before contesting. No action or proceeding, except a petition for redetermination under sub. (4), may be brought by a light, heat or power company against this state to contest any assessment of a tax under this section unless the taxpayer first pays to this state the amount of tax assessed. If the taxpayer prevails in an action or proceeding, this state shall settle with the taxpayer, including payment of interest at 9 3 percent per year on the amount of the money paid from the date of payment until the date of judgment.

SB720,58 Section 58. 76.39 (4) (d) of the statutes is amended to read:

SB720,33,14 76.39 (4) (d) All refunds shall be certified by the department to the department of administration which shall audit the amount of the refunds and the secretary of administration shall pay the amount, together with interest at the rate of 9 3 percent per year from the date payment was made. All additional taxes shall bear interest at the rate of 12 percent per year from the time they should have been paid to the date upon which the additional taxes shall become delinquent if unpaid.

SB720,59 Section 59. 76.48 (5) of the statutes is amended to read:

SB720,34,2 76.48 (5) Additional assessments may be made, if notice of such assessment is given, within 4 years of the date the annual return was filed, but if no return was filed, or if the return filed was incorrect and was filed with intent to defeat or evade the tax, an additional assessment may be made at any time upon the discovery of gross revenues by the department. Refunds may be made if a claim for the refund is filed in writing with the department within 4 years of the date the annual return was filed. Refunds shall bear interest at the rate of 9 3 percent per year and shall be certified by the department to the secretary of administration who shall audit the amounts of such overpayments and pay the amount audited. Additional assessments shall bear interest at the rate of 12 percent per year from the time they should have been paid to the date upon which they shall become delinquent if unpaid.

SB720,60 Section 60. 77.51 (13gm) (a) (intro.) of the statutes is renumbered 77.51 (13gm) (a) and amended to read:

SB720,34,9 77.51 (13gm) (a) “Retailer engaged in business in this state” does not include a retailer who has no activities as described in sub. (13g), except for activities described in sub. (13g) (c), unless the retailer meets either of the following criteria retailer's annual gross sales into this state exceed $100,000 in the previous year or current calendar year:.

SB720,61 Section 61. 77.51 (13gm) (a) 1. and 2. of the statutes are repealed.

SB720,62 Section 62. 77.51 (13gm) (b) of the statutes is amended to read:

SB720,34,17 77.51 (13gm) (b) If an out-of-state retailer's annual gross sales into this state exceed $100,000 in the previous calendar year or the retailer's annual number of separate sales transactions into this state is 200 or more in the previous year, the retailer shall register with the department and collect the taxes administered under s. 77.52 or 77.53 on sales sourced to this state under s. 77.522 for the entire current calendar year.

SB720,63 Section 63. 77.51 (13gm) (c) of the statutes is amended to read:

SB720,35,2 77.51 (13gm) (c) If an out-of-state retailer's annual gross sales into this state are $100,000 or less in the previous calendar year and the retailer's annual number of separate sales transactions into this state is less than 200 in the previous year, the retailer is not required to register with the department and collect the taxes administered under s. 77.52 or 77.53 on sales sourced to this state under s. 77.522 until the retailer's gross sales or transactions meet the criteria in par. (a) 1. or 2. exceed $100,000 for the current calendar year, at which time the retailer shall register with the department and collect the tax for the remainder of the current calendar year.

SB720,64 Section 64. 77.51 (13gm) (d) 1. of the statutes is repealed.

SB720,65 Section 65. 77.51 (13gm) (d) 2. of the statutes is amended to read:

SB720,35,6 77.51 (13gm) (d) 2. The annual amounts described in this subsection include “Gross sales” includes both taxable and nontaxable sales.