SB45,663,6 71.06 (2) (i) (intro.) For joint returns, for taxable years beginning after December 31, 2012, and before January 1, 2025:

SB45,1256 Section 1256. 71.06 (2) (j) (intro.) of the statutes is amended to read:

SB45,663,9 71.06 (2) (j) (intro.) For married persons filing separately, for taxable years beginning after December 31, 2012, and before January 1, 2025:

SB45,1257 Section 1257. 71.06 (2) (k) of the statutes is created to read:

SB45,663,12 71.06 (2) (k) For joint returns, for taxable years beginning after December 31, 2024:

SB45,663,13 1. On all taxable income from $0 to $10,000, 3.5 percent.

SB45,663,15 2. On all taxable income exceeding $10,000 but not exceeding $20,000, 4.40 percent.

SB45,663,17 3. On all taxable income exceeding $20,000 but not exceeding $300,000, 5.3 percent.

SB45,663,19 4. On all taxable income exceeding $300,000 but not exceeding $1,000,000, 7.65 percent.

SB45,663,20 5. On all taxable income exceeding $1,000,000, 9.80 percent.

SB45,1258 Section 1258. 71.06 (2) (L) of the statutes is created to read:

SB45,663,23 71.06 (2) (L) For married persons filing separately, for taxable years beginning after December 31, 2024:

SB45,664,1 1. On all taxable income from $0 to $5,000, 3.5 percent.

SB45,664,3 2. On all taxable income exceeding $5,000 but not exceeding $10,000, 4.40 percent.

SB45,664,5 3. On all taxable income exceeding $10,000 but not exceeding $150,000, 5.3 percent.

SB45,664,7 4. On all taxable income exceeding $150,000 but not exceeding $500,000, 7.65 percent.

SB45,664,8 5. On all taxable income exceeding $500,000, 9.80 percent.

SB45,1259 Section 1259. 71.06 (2e) (a) of the statutes is amended to read:

SB45,665,7 71.06 (2e) (a) For taxable years beginning after December 31, 1998, and before January 1, 2000, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1m) and (2) (c) and (d), and for taxable years beginning after December 31, 1999, and before January 1, 2025, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1n), (1p) (a) to (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 2., shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1997, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2000, and before January 1, 2002, the dollar amount in the top bracket under subs. (1p) (c) and (d), (2) (g) 3. and 4. and (h) 3. and 4. shall be increased by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1999, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

SB45,1260 Section 1260. 71.06 (2e) (b) of the statutes is amended to read:

SB45,665,20 71.06 (2e) (b) For taxable years beginning after December 31, 2009, and before January 1, 2025, the maximum dollar amount in each tax bracket, and the corresponding minimum dollar amount in the next bracket, under subs. (1p) (d), (1q) (c), and (2) (g) 4., (h) 4., (i) 3., and (j) 3., and the dollar amount in the top bracket under subs. (1p) (e), (1q) (d), and (2) (g) 5., (h) 5., (i) 4., and (j) 4., shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2008, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2011, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

SB45,1261 Section 1261. 71.06 (2e) (bg) of the statutes is created to read:

SB45,666,10 71.06 (2e) (bg) 1. For taxable years beginning after December 31, 2024, the maximum dollar amount in each tax bracket under subs. (1r) (a) and (b) and (2) (k) 1. and 2. and (L) 1. and 2., and the corresponding minimum dollar amount in the next tax bracket under subs. (1r) (b) and (c) and (2) (k) 2. and 3. and (L) 2. and 3. shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 1997, as determined by the federal department of labor, except that for taxable years beginning after December 31, 2024, the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

SB45,666,20 2. For taxable years beginning after December 31, 2024, the maximum dollar amount in each tax bracket under subs. (1r) (c) and (2) (k) 3. and (L) 3., and the corresponding minimum dollar amount in the next tax bracket under subs. (1r) (d) and (2) (k) 4. and (L) 4. shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2008, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

SB45,667,7 3. For taxable years beginning after December 31, 2025, the maximum dollar amount in the tax bracket under subs. (1r) (d) and (2) (k) 4. and (L) 4. and the corresponding dollar amount in the top bracket under subs. (1r) (e) and (2) (k) 5. and (L) 5. shall be increased each year by a percentage equal to the percentage change between the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August of the previous year and the U.S. consumer price index for all urban consumers, U.S. city average, for the month of August 2024, as determined by the federal department of labor, except that the adjustment may occur only if the resulting amount is greater than the corresponding amount that was calculated for the previous year.

SB45,1262 Section 1262. 71.06 (2m) of the statutes is amended to read:

SB45,667,12 71.06 (2m) Rate changes. If a rate under sub. (1), (1m), (1n), (1p), (1q), (1r), or (2) changes during a taxable year, the taxpayer shall compute the tax for that taxable year by the methods applicable to the federal income tax under section 15 of the Internal Revenue Code.

SB45,1263 Section 1263. 71.06 (2s) (d) of the statutes is amended to read:

SB45,668,4 71.06 (2s) (d) For taxable years beginning after December 31, 2000, with respect to nonresident individuals, including individuals changing their domicile into or from this state, the tax brackets under subs. (1p), (1q), (1r), and (2) (g), (h), (i), and (j), (k), and (L) shall be multiplied by a fraction, the numerator of which is Wisconsin adjusted gross income and the denominator of which is federal adjusted gross income. In this paragraph, for married persons filing separately “adjusted gross income” means the separate adjusted gross income of each spouse, and for married persons filing jointly “adjusted gross income” means the total adjusted gross income of both spouses. If an individual and that individual’s spouse are not both domiciled in this state during the entire taxable year, the tax brackets under subs. (1p), (1q), (1r), and (2) (g), (h), (i), and (j), (k), and (L) on a joint return shall be multiplied by a fraction, the numerator of which is their joint Wisconsin adjusted gross income and the denominator of which is their joint federal adjusted gross income.