Long-term care insurance assessment credit.
(a) Definitions.
(a)Definitions.#
In this subsection: 1. “Claimant” means a person who files a claim under this subsection. 2. “Disability insurer” means an insurer classified as a disability insurer under s. 646.51 (3) (bm) 2.
(a)(1)#
“Claimant” means a person who files a claim under this subsection.
(a)(2)#
“Disability insurer” means an insurer classified as a disability insurer under s. 646.51 (3) (bm) 2.
(b)Filing claims.#
Subject to the limitations provided under this subsection, for taxable years beginning after December 31, 2026, a claimant may claim as a credit against the taxes imposed under s. 71.43, for the taxable year following the taxable year that a claimant pays an assessment under s. 646.51 (3) (bm), and for the immediately following 4 taxable years, an amount equal to 20 percent of the assessment under s. 646.51 (3) (bm) paid by the claimant.
(c)Limitations.#
1. A partnership, limited liability company, or tax-option corporation, including a partnership, limited liability company, or tax-option corporation that makes an election under s. 71.21 (6) (a) or 71.365 (4m) (a) to be taxed at the entity level, may claim the credit under par. (b). 2. A partnership’s partners, limited liability company’s members, and tax-option corporation’s shareholders may not claim the credit under par. (b).
(c)(1)#
A partnership, limited liability company, or tax-option corporation, including a partnership, limited liability company, or tax-option corporation that makes an election under s. 71.21 (6) (a) or 71.365 (4m) (a) to be taxed at the entity level, may claim the credit under par. (b).
(c)(2)#
A partnership’s partners, limited liability company’s members, and tax-option corporation’s shareholders may not claim the credit under par. (b).
(d)Administration.#
1. Section 71.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection. 2. If the claimant is a disability insurer and if the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.43 or no tax is due under s. 71.43, the amount of the claim not used to offset the tax due shall be certified by the department of revenue to the department of administration for payment to the claimant by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (de). Notwithstanding s. 71.82 (1) (b), no interest shall be added to amounts certified under this subdivision.
(d)(1)#
Section 71.28 (4) (e), (g), and (h), as it applies to the credit under s. 71.28 (4), applies to the credit under this subsection.
(d)(2)#
If the claimant is a disability insurer and if the allowable amount of the claim under par. (b) exceeds the tax otherwise due under s. 71.43 or no tax is due under s. 71.43, the amount of the claim not used to offset the tax due shall be certified by the department of revenue to the department of administration for payment to the claimant by check, share draft, or other draft drawn from the appropriation account under s. 20.835 (2) (de). Notwithstanding s. 71.82 (1) (b), no interest shall be added to amounts certified under this subdivision.