Personal exemptions.
In computing Wisconsin taxable income, an individual taxpayer may subtract the following amounts:
(b)#
For taxable years that begin after December 31, 2000: 1. A personal exemption of $700 if the taxpayer is required to file a return under s. 71.03 (2) (a) 1. or 2. and $700 for the taxpayer’s spouse, except if the spouse is filing separately or as a head of household. 2. An exemption of $700 for each dependent, as defined under section 152 of the Internal Revenue Code, of the taxpayer. 3. An additional exemption of $250 if the taxpayer has reached the age of 65 before the close of the taxable year to which his or her tax return relates and $250 for the taxpayer’s spouse if he or she has reached the age of 65 before the close of the taxable year to which his or her tax return relates, except if the spouse is filing separately or as a head of household.
(b)(1)#
A personal exemption of $700 if the taxpayer is required to file a return under s. 71.03 (2) (a) 1. or 2. and $700 for the taxpayer’s spouse, except if the spouse is filing separately or as a head of household.
(b)(2)#
An exemption of $700 for each dependent, as defined under section 152 of the Internal Revenue Code, of the taxpayer.
(b)(3)#
(c)#
With respect to persons who change their domicile into or from this state during the taxable year and nonresident persons, personal exemptions under par. (b) shall be limited to the fraction of the amount so determined that Wisconsin adjusted gross income is of 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 a person and that person’s spouse are not both domiciled in this state during the entire taxable year, their personal exemptions on a joint return are determined by multiplying the personal exemption that would be available to each of them if they were both domiciled in this state during the entire taxable year 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.