AB68-ASA2,302,1110
4. A claimant who claims the credit under this subsection is subject to the
11special rules in
26 USC 21 (e) (2) and (4).
AB68-ASA2,302,1312
(d)
Administration. Subsection (9e) (d), to the extent that it applies to the credit
13under that subsection, applies to the credit under this subsection.
AB68-ASA2,259
14Section 259
. 71.10 (4) (cs) of the statutes is created to read:
AB68-ASA2,302,1515
71.10
(4) (cs) Additional child and dependent care tax credit under s. 71.07 (9g).
AB68-ASA2,260
16Section
260. 71.28 (3q) (c) 1. of the statutes is renumbered 71.28 (3q) (c) 1. a.
17and amended to read:
AB68-ASA2,303,218
71.28
(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-ASA2,261
3Section
261. 71.28 (3q) (c) 1. b. of the statutes is created to read:
AB68-ASA2,303,164
71.28
(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-ASA2,262
17Section
262. 71.28 (3w) (c) 2. of the statutes is renumbered 71.28 (3w) (c) 2.
18a. and amended to read:
AB68-ASA2,304,219
71.28
(3w) (c) 2. a.
Partnerships
Except as provided in subd. 2. b., partnerships,
20limited liability companies, and tax-option corporations may not claim the credit
21under this subsection, but the eligibility for, and the amount of, the credit are based
22on their payment of amounts described under pars. (b) and (bm). A partnership,
23limited liability company, or tax-option corporation shall compute the amount of
24credit that each of its partners, members, or shareholders may claim and shall
25provide that information to each of them. Partners, members of limited liability
1companies, and shareholders of tax-option corporations may claim the credit in
2proportion to their ownership interests.
AB68-ASA2,263
3Section
263. 71.28 (3w) (c) 2. b. of the statutes is created to read:
AB68-ASA2,304,164
71.28
(3w) (c) 2. 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. 2. 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. 2. 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. 2. b.
AB68-ASA2,264
17Section
264. 71.28 (3y) (c) 1. of the statutes is renumbered 71.28 (3y) (c) 1. a.
18and amended to read:
AB68-ASA2,305,219
71.28
(3y) (c) 1. a.
Partnerships
Except as provided in subd. 1. b., partnerships,
20limited liability companies, and tax-option corporations may not claim the credit
21under this subsection, but the eligibility for, and the amount of, the credit are based
22on their payment of amounts under par. (b). A partnership, limited liability company,
23or tax-option corporation shall compute the amount of credit that each of its
24partners, members, or shareholders may claim and shall provide that information
25to 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-ASA2,265
3Section
265. 71.28 (3y) (c) 1. b. of the statutes is created to read:
AB68-ASA2,305,164
71.28
(3y) (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-ASA2,266
17Section
266. 71.28 (4) (k) 1. of the statutes is renumbered 71.28 (4) (k) 1. a.
18and amended to read:
AB68-ASA2,305,2419
71.28
(4) (k) 1. a.
The For taxable years beginning before January 1, 2021, the 20amount of the claim not used to offset the tax due, not to exceed 10 percent of the
21allowable amount of the claim under par. (ad) 4., 5., or 6., shall be certified by the
22department of revenue to the department of administration for payment by check,
23share draft, or other draft drawn from the appropriation account under s. 20.835 (2)
24(d).
AB68-ASA2,267
25Section
267. 71.28 (4) (k) 1. b. of the statutes is created to read:
AB68-ASA2,306,6
171.28 (4) (k) 1. b. For taxable years beginning after December 31, 2020, the
2amount of the claim not used to offset the tax due, not to exceed 15 percent of the
3allowable amount of the claim under par. (ad) 4., 5., or 6., shall be certified by the
4department of revenue to the department of administration for payment by check,
5share draft, or other draft drawn from the appropriation account under s. 20.835 (2)
6(d).
AB68-ASA2,268
7Section
268. 71.47 (3q) (c) 1. of the statutes is renumbered 71.47 (3q) (c) 1. a.
8and amended to read:
AB68-ASA2,306,179
71.47
(3q) (c) 1. a.
Partnerships
Except as provided in subd. 1. b., partnerships,
10limited liability companies, and tax-option corporations may not claim the credit
11under this subsection, but the eligibility for, and the amount of, the credit are based
12on their payment of amounts under par. (b). A partnership, limited liability company,
13or tax-option corporation shall compute the amount of credit that each of its
14partners, members, or shareholders may claim and shall provide that information
15to each of them. Partners, members of limited liability companies, and shareholders
16of tax-option corporations may claim the credit in proportion to their ownership
17interests.
AB68-ASA2,269
18Section
269. 71.47 (3q) (c) 1. b. of the statutes is created to read:
AB68-ASA2,307,619
71.47
(3q) (c) 1. b. For taxable years beginning after December 31, 2020,
20partnerships, limited liability companies, and tax-option corporations may elect to
21claim the credit under this subsection, if the credit results from a contract entered
22into with the Wisconsin Economic Development Corporation before December 22,
232017. A partnership, limited liability company, or tax-option corporation that
24wishes to make the election under this subd. 1. b. shall make the election for each
25taxable year on its original return and may not subsequently make or revoke the
1election. If a partnership, limited liability company, or tax-option corporation elects
2to claim the credit under this subsection, the partners, members, and shareholders
3may not claim the credit under this subsection. The credit may not be claimed under
4this subd. 1. b. if one or more partners, members, or shareholders have claimed the
5credit under this subsection for the same taxable year for which the credit is claimed
6under this subd. 1. b.
AB68-ASA2,270
7Section
270. 71.47 (3w) (c) 2. of the statutes is renumbered 71.47 (3w) (c) 2.
8a. and amended to read:
AB68-ASA2,307,179
71.47
(3w) (c) 2. a.
Partnerships
Except as provided in subd. 2. b., partnerships,
10limited liability companies, and tax-option corporations may not claim the credit
11under this subsection, but the eligibility for, and the amount of, the credit are based
12on their payment of amounts described under pars. (b) and (bm). A partnership,
13limited liability company, or tax-option corporation shall compute the amount of
14credit that each of its partners, members, or shareholders may claim and shall
15provide that information to each of them. Partners, members of limited liability
16companies, and shareholders of tax-option corporations may claim the credit in
17proportion to their ownership interests.
AB68-ASA2,271
18Section
271. 71.47 (3w) (c) 2. b. of the statutes is created to read:
AB68-ASA2,308,619
71.47
(3w) (c) 2. b. For taxable years beginning after December 31, 2020,
20partnerships, limited liability companies, and tax-option corporations may elect to
21claim the credit under this subsection, if the credit results from a contract entered
22into with the Wisconsin Economic Development Corporation before December 22,
232017. A partnership, limited liability company, or tax-option corporation that
24wishes to make the election under this subd. 2. b. shall make the election for each
25taxable year on its original return and may not subsequently make or revoke the
1election. If a partnership, limited liability company, or tax-option corporation elects
2to claim the credit under this subsection, the partners, members, and shareholders
3may not claim the credit under this subsection. The credit may not be claimed under
4this subd. 2. b. if one or more partners, members, or shareholders have claimed the
5credit under this subsection for the same taxable year for which the credit is claimed
6under this subd. 2. b.
AB68-ASA2,272
7Section
272. 71.47 (3y) (c) 1. of the statutes is renumbered 71.47 (3y) (c) 1. a.
8and amended to read: