loading…
loading…
loading…
(a) Definitions.
In this subsection: 1. “Claimant” means a person who is certified to claim tax benefits under s. 238.396 (3) and who files a claim under this subsection. 2. “Full-time employee” means an individual who is employed in a job for which the annual pay is at least $30,000 and who is offered retirement, health, and other benefits that are equivalent to the retirement, health, and other benefits offered to an individual who is required to work at least 2,080 hours per year. 3. “State payroll” means the amount of payroll apportioned to this state, as determined under s. 71.25 (8) [s. 71.25 (8), 2023 stats.]. 4. “Wages” means wages under section 3306 (b) of the Internal Revenue Code, determined without regard to any dollar limitations. 5. “Zone” means a zone designated under s. 238.396 (1m). 6. “Zone payroll” means the amount of state payroll that is attributable to wages paid by the claimant to full-time employees for services that are performed in the zone or that are performed outside the zone, but within the state, and for the benefit of the operations within the zone, as determined by the Wisconsin Economic Development Corporation. “Zone payroll” does not include the amount of wages paid to any full-time employees that exceeds $100,000.
“Claimant” means a person who is certified to claim tax benefits under s. 238.396 (3) and who files a claim under this subsection.
“Full-time employee” means an individual who is employed in a job for which the annual pay is at least $30,000 and who is offered retirement, health, and other benefits that are equivalent to the retirement, health, and other benefits offered to an individual who is required to work at least 2,080 hours per year.
“State payroll” means the amount of payroll apportioned to this state, as determined under s. 71.25 (8) [s. 71.25 (8), 2023 stats.].
“Wages” means wages under section 3306 (b) of the Internal Revenue Code, determined without regard to any dollar limitations.
“Zone” means a zone designated under s. 238.396 (1m).
“Zone payroll” means the amount of state payroll that is attributable to wages paid by the claimant to full-time employees for services that are performed in the zone or that are performed outside the zone, but within the state, and for the benefit of the operations within the zone, as determined by the Wisconsin Economic Development Corporation. “Zone payroll” does not include the amount of wages paid to any full-time employees that exceeds $100,000.
Subject to the limitations provided in this subsection and s. 238.396, a claimant may claim as a credit against the tax imposed under s. 71.23 an amount calculated as follows: 1. Determine the zone payroll for the taxable year for full-time employees employed by the claimant. 2. Multiply the amount determined under subd. 1. by 17 percent.
Determine the zone payroll for the taxable year for full-time employees employed by the claimant.
Multiply the amount determined under subd. 1. by 17 percent.
In addition to claiming the credit under par. (b), and subject to the limitations under this subsection and s. 238.396, a claimant may claim as a credit against the tax imposed under s. 71.23 up to 15 percent of the claimant’s significant capital expenditures in the zone in the taxable year, as determined under s. 238.396 (3m).
1. 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 described under pars. (b) and (bm). 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 interests. 2. No credit may be allowed under this subsection unless the claimant includes with the claimant’s return a copy of the claimant’s certification for tax benefits under s. 238.396 (3). 3. The Wisconsin Economic Development Corporation may recover credits claimed under this paragraph that are revoked or otherwise invalid from the partnership, limited liability company, or tax-option corporation or from the individual partner, member, or shareholder.
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 described under pars. (b) and (bm). 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 interests.
No credit may be allowed under this subsection unless the claimant includes with the claimant’s return a copy of the claimant’s certification for tax benefits under s. 238.396 (3).
The Wisconsin Economic Development Corporation may recover credits claimed under this paragraph that are revoked or otherwise invalid from the partnership, limited liability company, or tax-option corporation or from the individual partner, member, or shareholder.
1. Subsection (4) (g) and (h), as it applies to the credit under sub. (4), applies to the credit under this subsection. 2. If the allowable amount of the claim under this subsection exceeds the taxes otherwise due on the claimant’s income under s. 71.23, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (cp). Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subdivision.
Subsection (4) (g) and (h), as it applies to the credit under sub. (4), applies to the credit under this subsection.
If the allowable amount of the claim under this subsection exceeds the taxes otherwise due on the claimant’s income under s. 71.23, the amount of the claim that is not used to offset those taxes shall be certified by the department of revenue to the department of administration for payment by check, share draft, or other draft drawn from the appropriation under s. 20.835 (2) (cp). Notwithstanding s. 71.82, no interest shall be paid on amounts certified under this subdivision.