For taxable years beginning after December 31, 2013, a claimant may subtract from federal adjusted gross income any amount of a long-term capital gain if the claimant does all of the following: 1.
(1)#
Within 180 days after the sale of the asset that generated the gain, invests all of the gain in a qualified Wisconsin business.
(2)#
After making the investment as described under subd. 1., notifies the department, on a form prepared by the department, that the claimant will not declare the gain on the claimant’s income tax return because the claimant has reinvested the capital gain as described under subd. 1. The form shall be sent to the department along with the claimant’s income tax return for the year to which the claim relates.