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(a) Definitions.
In this subsection: 1. “Ccf” means 100 cubic feet. 2. “Claimant” means a person who files a claim under this subsection, who is an industrial customer of a municipal water utility that is located in a federal renewal community zone in this state, and whose average annual water consumption from that utility for a 24-month period exceeds 1,000,000 Ccf.
“Ccf” means 100 cubic feet.
“Claimant” means a person who files a claim under this subsection, who is an industrial customer of a municipal water utility that is located in a federal renewal community zone in this state, and whose average annual water consumption from that utility for a 24-month period exceeds 1,000,000 Ccf.
Subject to the limitations provided in this subsection, for taxable years beginning after December 31, 2009, and before January 1, 2014, a claimant may claim as a credit against the tax imposed under s. 71.23, up to the amount of the tax, the amount determined as follows, except that the maximum amount that a claimant may claim in a taxable year under this subsection is $300,000: 1. Subtract the claimant’s 2009 water usage costs from the claimant’s water usage costs for the taxable year. 2. If the amount determined under subd. 1. is a positive number, multiply that amount by 0.50.
Subtract the claimant’s 2009 water usage costs from the claimant’s water usage costs for the taxable year.
If the amount determined under subd. 1. is a positive number, multiply that amount by 0.50.
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 interests.
1. Subsection (5b) (e) to (h), as it applies to the credit under sub. (5b), applies to the credit under this subsection. 2. No credit may be claimed under this subsection for taxable years beginning after December 31, 2013. Credits under this subsection for taxable years that begin before January 1, 2014, may be carried forward to taxable years that begin after December 31, 2013.
Subsection (5b) (e) to (h), as it applies to the credit under sub. (5b), applies to the credit under this subsection.
No credit may be claimed under this subsection for taxable years beginning after December 31, 2013. Credits under this subsection for taxable years that begin before January 1, 2014, may be carried forward to taxable years that begin after December 31, 2013.