Administration.
1.
(1)#
Subsection (5b) (e) to (h), as it applies to the credit under sub. (5b), applies to the credit under this subsection.
(2)#
Except as provided in subd. 3., for purposes of determining a claimant’s eligible qualified production activities income under this subsection, the claimant shall multiply the claimant’s qualified production activities income from property manufactured by the claimant by the manufacturing property factor and qualified production activities income from property produced, grown, or extracted by the claimant by the agriculture property factor. This subdivision does not apply if the claimant’s entire qualified production activities income results from the sale of tangible personal property that was manufactured, produced, grown, or extracted wholly in this state by the claimant.
(3)#
The amount of the eligible qualified production activities income that a claimant may claim in computing the credit under par. (b) is the lesser of the following: a. The eligible qualified production activities income determined under subd. 2. b. Income apportioned to this state under s. 71.25 (5), (6), and (6m). c. Income determined to be taxable under s. 71.255 (2).
(3)(a)#
The eligible qualified production activities income determined under subd. 2.
(3)(b)#
Income apportioned to this state under s. 71.25 (5), (6), and (6m).
(3)(c)#
Income determined to be taxable under s. 71.255 (2).