Limitations.
1.
(1)#
No credit may be allowed under par. (b) unless the claimant certifies to the department of revenue that the claimant will not be reimbursed for any amount of tuition for which the claimant claims a credit under par. (b).
(2)#
A claimant may not claim the credit under par. (b) for any tuition amounts that the individual described under par. (b) excluded under section 127 of the Internal Revenue Code.
(3)#
A claimant may not claim the credit under par. (b) for any tuition amounts that the claimant paid or incurred for a family member of a managing employee unless all of the following apply: a. The family member was employed an average of at least 20 hours per week as an employee of the claimant, or the claimant’s business, during the one-year period prior to commencing participation in the education program in connection with which the claimant claims a credit under par. (b). b. The family member is enrolled in a course of instruction that is substantially related to the claimant’s business.
(3)(a)#
The family member was employed an average of at least 20 hours per week as an employee of the claimant, or the claimant’s business, during the one-year period prior to commencing participation in the education program in connection with which the claimant claims a credit under par. (b).
(3)(b)#
The family member is enrolled in a course of instruction that is substantially related to the claimant’s business.
(3m)#
A claimant may not claim the credit under par. (b) for any tuition amounts that the claimant paid or incurred for an individual who is not a resident of this state.
(4)#
The claimant shall claim the credit for the taxable year in which the individual graduates from a course of instruction in an amount equal to the total amount the claimant paid or incurred under par. (b) for all taxable years in which the claimant paid or incurred such amounts related to that individual.
(5)#
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 tuition 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.