Limitations.
1.
(1)#
No amount of the salary or wages paid under par. (b) 1. may be the basis for a credit under this subsection unless the salary or wages are paid for services rendered after December 31, 2025, and directly incurred to produce the accredited production.
(2)#
Only the first $250,000 of salary or wages paid to each of the claimant’s employees, as described in par. (b) 1., in the taxable year may be used to claim a credit under par. (b) 1. If the claimant’s production expenditures for the taxable year are $1,000,000 or more, the salaries or wages paid to the claimant’s 2 highest-paid employees in the taxable year may not be used to claim the credit.
(3)#
No credit may be allowed under this subsection unless the claimant files an application with the state film office, at the time and in the manner prescribed by the office, and the office approves the application. The claimant shall submit a copy of the approved application with the claimant’s return.
(4)#
Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of amounts under par. (b). A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interest.