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Tax 3.05(4)(a)3. 3. For purposes of computing the average employee count under this paragraph, the number of full-time equivalent employees employed in this state does not include any employee who worked for a related person or related entity of the taxpayer or member of the same commonly controlled group as the taxpayer at any time during the 12 months prior to the due date of the quarterly wage report from which the number is derived.
Tax 3.05(4)(b)1.1. Except as provided in subds. 2. and 3., for a taxable year during which a taxpayer is not required under ch. 108, Stats., to file quarterly unemployment insurance wage reports with the department of workforce development, the average employee count shall be computed using the average number of full-time equivalent employees employed by the taxpayer in this state on January 31, April 30, July 31, and October 31 within the taxable year. A January 31, April 30, July 31, or October 31 that does not occur within the taxable year is disregarded for purposes of the computation under this subdivision. An amount computed under this subdivision shall be rounded to the nearest whole number.
Tax 3.05 Note Example 1) For Taxpayer B's taxable year beginning July 1, 2011, and ending June 30, 2012, the number of full-time equivalent employees employed by Taxpayer B in this state on July 31, 2011, October 31, 2011, January 31, 2012, and April 30, 2012, are used to compute the average employee count.
Tax 3.05 Note Example 2) To compute the average employee count for Taxpayer C's short-period taxable year beginning March 15, 2011, and ending December 31, 2011, Taxpayer C divides the sum of the number of full-time equivalent employees employed by Taxpayer C in this state on April 30, 2011, July 31, 2011, and October 31, 2011, by three.
Tax 3.05(4)(b)2. 2. If only one of the dates, January 31, April 30, July 31, and October 31 occur within a taxable year, the average employee count shall be the number of full-time equivalent employees employed by the taxpayer in this state on that date.
Tax 3.05(4)(b)3. 3. If none of the dates January 31, April 30, July 31, or October 31, occurs within a taxable year, the average employee count shall be the number of full-time equivalent employees employed by the taxpayer in this state on the last day of the taxable year.
Tax 3.05(4)(b)4. 4. For purposes of computing the average employee count under this paragraph, the number of full-time equivalent employees employed in this state does not include any employee who worked for a related person or related entity of the taxpayer or member of the same commonly controlled group as the taxpayer at any time during the 12 months prior to the date on which the number is derived.
Tax 3.05(5) (5)Partnerships, limited liability companies, and tax-option corporations. Partnerships, limited liability companies, and tax-option corporations may not claim the job creation deduction under ss. 71.05 (6) (b) 47m., 71.26 (1) (h), or 71.45 (1) (c), Stats., but the eligibility for, and the amount of, the deduction shall be based on the increase in the number of full-time equivalent employees employed by the partnership, limited liability company, or tax-option corporation in this state and the gross receipts of the partnership, limited liability company, or tax-option corporation. A partnership, limited liability company, or tax-option corporation shall compute the amount of deduction that each of its partners, members, or shareholders may claim and shall provide that information to each of them.
Tax 3.05 Note Example: Partnership C has two equal partners, Individual D and Individual E. Individual D and Individual E are both Wisconsin residents. For its 2011 taxable year, Partnership C computes $450,000 of ordinary business income for federal income tax purposes and a job creation deduction of $40,000. Partnership C reports the following amounts to both Individual D and Individual E: - See PDF for table PDF
Tax 3.05(6) (6)Professional employer organizations. The provisions of s. 461.04 (4) (b), Stats., apply to this section and ss. 71.05 (6) (b) 47m., 71.26 (1) (h), and 71.45 (1) (c), Stats.
Tax 3.05 Note Example: Company F, a professional employer organization, hires Employee G to perform services in Wisconsin for Taxpayer H, a client of Company F. For purposes of determining the job creation deduction, Employee G is considered to be an employee solely of Taxpayer H.
Tax 3.05 History History: EmR1105: emerg. cr. eff. 4-7-11; CR 11-024: cr. Register November 2011 No. 671, eff. 12-1-11.
Tax 3.085 Tax 3.085 Retirement plan distributions.
Tax 3.085(1) (1)Nonresidents. Employee annuity, pension, profit-sharing or stock bonus plan distributions, including self-employed retirement plan distributions, and distributions from qualified deferred compensation plans under ss. 401 (k), 403 (b) and 457 of the internal revenue code received by a person while a nonresident of Wisconsin shall be exempt from the Wisconsin income tax, regardless of whether any of these distributions may be attributable to personal services performed in Wisconsin.
Tax 3.085(2) (2)Residents. Employee annuity, pension, profit-sharing or stock bonus plan distributions, including self-employed retirement plan distributions, and distributions from qualified deferred compensation plans under ss. 401 (k), 403 (b) and 457 of the internal revenue code received by a person while a resident of Wisconsin shall be subject to the Wisconsin income tax, regardless of whether any of these distributions may be attributable to personal services performed outside of Wisconsin.
Tax 3.085 Note Note: This section interprets s. 71.04 (1) (a), Stats.
Tax 3.085 History History: Cr. Register, March, 1978, No. 267, eff. 4-1-78; am. Register, June, 1990, No. 414, eff. 7-1-90.
Tax 3.095 Tax 3.095 Income tax status of interest and dividends received from government and other securities by individuals and fiduciaries.
Tax 3.095(1) (1)Purpose. This section lists federal, state, municipal and other government securities, and certain nongovernment securities, and specifies whether interest and dividends payable on those securities are exempt from or subject to the Wisconsin income tax on individuals and fiduciaries. The lists are not all-inclusive.
Tax 3.095 Note Note: Information regarding the income tax status of interest and dividends received from securities not listed in this section may be obtained by writing to Wisconsin Department of Revenue, Technical Services Staff, P.O. Box 8933, Madison, WI 53708-8933.
Tax 3.095(2) (2)Definitions. In this section:
Tax 3.095(2)(a) (a) "CHAP" means "Community Housing Alternatives Program."
Tax 3.095(2)(b) (b) "Federal securities" means only securities which are direct and primary obligations of the United States and securities the interest on which federal law prohibits states from taxing. Federal securities do not include securities for which the United States is merely a guarantor and, therefore, has an obligation which is secondary and contingent to that of the issuer of the security.
Tax 3.095(2)(c) (c) "Public housing agency" means any state, county, municipality or other governmental entity or public body, or agency or instrumentality thereof, which is authorized to engage in or assist in the development or operation of lower income housing, under 42 USC 1437a (b) (6).
Tax 3.095(2)(d) (d) "WHEDA" means "Wisconsin Housing and Economic Development Authority."
Tax 3.095(3) (3)General.
Tax 3.095(3)(a)(a) Under s. 71.05 (6) (a) 1., Stats., interest income which is subject to the Wisconsin income tax on individuals and fiduciaries, but which is not included in federal adjusted gross income, shall be added to federal adjusted gross income in computing Wisconsin taxable income.
Tax 3.095 Note Note: Section 71.05 (1) (a) 1., 1985 Stats., was amended by 1987 Wis. Act 27, to provide for the addition to federal adjusted gross income, of any interest not included in federal adjusted gross income which is not specifically exempted from state taxation. This change applies only to securities issued after January 28, 1987. Prior to enactment of 1987 Wis. Act 27, the addition applied only to interest excluded from federal adjusted gross income solely by s. 103 of the internal revenue code. Section 71.05 (1) (a) 1., 1985 Stats., was renumbered s. 71.05 (6) (a) 1., Stats., by 1987 Wis. Act 312, effective January 1, 1989.
Tax 3.095(3)(b) (b) Under s. 71.05 (6) (b) 1., Stats., interest and dividend income which is included in federal adjusted gross income but which is by federal law exempt from state income taxation, shall be subtracted from federal adjusted gross income in computing Wisconsin taxable income.
Tax 3.095(4) (4)Exempt securities. Interest and dividends payable on the following securities shall be exempt from the Wisconsin income tax on individuals and fiduciaries:
Tax 3.095(4)(a) (a) Exempt state, municipal and other government securities.
Tax 3.095(4)(a)1.1. District of Columbia general obligation bonds issued on or prior to January 28, 1987, where the interest from the bonds qualifies for exemption from federal income taxation for a reason other than or in addition to s. 103 of the internal revenue code.
Tax 3.095(4)(a)2. 2. Higher education bonds issued by the state of Wisconsin, s. 71.05 (6) (a) 1., Stats.
Tax 3.095(4)(a)3. 3. Public housing agency bonds issued on or prior to January 28, 1987, by agencies located outside Wisconsin where the interest from the bonds qualifies for exemption from federal income taxation for a reason other than or in addition to s. 103 of the internal revenue code.
Tax 3.095(4)(a)4. 4. Public housing authority bonds issued by municipalities located in Wisconsin, s. 66.1201 (14) (a), Stats.
Tax 3.095(4)(a)5. 5. Redevelopment authority bonds issued by municipalities located in Wisconsin, s. 66.1333 (5) (a) 4. c., Stats.
Tax 3.095(4)(a)6. 6. Stripped general obligation bond certificates attributable to certain District of Columbia general obligation bonds issued on or prior to January 28, 1987, where the interest from the bonds qualifies for exemption from federal income taxation under section 1286 of the internal revenue code and D.C. Code Ann. 47-332.
Tax 3.095 Note Note: Stripped general obligation bond certificates meeting the criteria of subd. 6. include Stripped Tax-Exempt Participations, or`STEPS.'
Tax 3.095(4)(a)7. 7. Virgin Island Housing Authority bonds issued on or prior to January 28, 1987, where the interest from the bonds qualifies for exemption from federal income taxation for a reason other than or in addition to section 103 of the internal revenue code.
Tax 3.095(4)(a)8. 8. WHEDA bonds issued on or prior to January 28, 1987, except business development revenue bonds, economic development revenue bonds and CHAP housing revenue bonds issued by WHEDA.
Tax 3.095(4)(a)10. 10. WHEDA bonds issued under s. 234.65, Stats., to fund an economic development loan to finance construction, renovation or development of property that would be exempt under s. 70.11 (36), Stats.
Tax 3.095(4)(a)11. 11. Wisconsin Housing Finance Authority bonds, 42 USC 1437i (b).
Tax 3.095(4)(a)12. 12. WHEDA bonds or notes issued under s. 234.08 or 234.61, Stats., on or after January 1, 2004, if the bonds or notes are issued to fund multifamily affordable housing projects or elderly housing projects.
Tax 3.095(4)(a)13. 13. Bonds or notes issued by a local exposition district created under subch. II of ch. 229, Stats.
Tax 3.095(4)(a)14. 14. Bonds or notes issued by a local professional baseball park district created under subch. III of ch. 229, Stats.
Tax 3.095(4)(a)15. 15. Bonds or notes issued by a local professional football stadium district created under subch. IV of ch. 229, Stats.
Tax 3.095(4)(a)16. 16. Bonds or notes issued by a local cultural arts district created under subch. V of ch. 229, Stats.
Tax 3.095(4)(a)17. 17. Bonds or notes issued by the Wisconsin Aerospace Authority.
Tax 3.095(4)(a)18. 18. Wisconsin Health and Educational Facilities Authority bonds or notes issued under s. 231.03 (6), Stats., on or after October 27, 2007, if the proceeds from the bonds or notes that are issued are used by a health facility, as defined in s. 231.01 (5), Stats., to fund the acquisition of information technology hardware or software.
Tax 3.095(4)(a)19. 19. Bonds or notes issued by a commission created under s. 66.0304, Stats., if any of the following applies:
Tax 3.095(4)(a)19.a. a. The bonds or notes are used to fund multifamily affordable housing projects or elderly housing projects in this state, and WHEDA has the authority to issue its bonds or notes for the project being funded.
Tax 3.095(4)(a)19.b. b. The bonds or notes are used by a health facility, as defined in s. 231.01 (5), Stats., to fund the acquisition of information technology hardware or software, in this state, and the Wisconsin Health and Educational Facilities Authority has the authority to issue its bonds or notes for the project being funded.
Tax 3.095(4)(a)19.c. c. The bonds or notes are issued to fund a redevelopment project in this state or a housing project in this state, and the authority exists for bonds or notes to be issued by an entity described under s. 66.1201, 66.1333, or 66.1335, Stats.
Tax 3.095(4)(a)20. 20. WHEDA bonds or notes, if the bonds or notes are issued to provide loans to a public affairs network under s. 234.75 (4), Stats.
Tax 3.095 Note Note: Under par. (a), interest and dividends payable on certain securities issued on or before January 28, 1987, is exempt from Wisconsin income tax. This is because prior to enactment of 1987 Wis. Act 27, which amended s. 71.05 (1) (a) 1., 1985 Stats., effective with securities issued after January 28, 1987, no modification was provided to add to federal adjusted gross income interest and dividends which were excludable from federal adjusted gross income for any reason other than or in addition to s. 103 of the internal revenue code. Section 71.05 (1) (a) 1., 1985 Stats., was renumbered s. 71.05 (6) (a) 1., Stats., by 1987 Wis. Act 312, effective January 1, 1989.
Tax 3.095(4)(b) (b) Exempt federal securities.
Tax 3.095(4)(b)1.1. Armed Services Housing Mortgage Insurance debentures, 12 USC 1748b (f).
Tax 3.095(4)(b)2. 2. Bank for Cooperative debentures, 12 USC 2134.
Tax 3.095(4)(b)3. 3. Bank repurchase agreements for U.S. Government treasury bills, notes and bonds, if interest is paid by the federal government directly to the taxpayer.
Tax 3.095(4)(b)4. 4. Commodity Credit Corporation bonds, 15 USC 713a-5.
Tax 3.095(4)(b)5. 5. Commonwealth of Puerto Rico public improvement bonds, 48 USC 745.
Tax 3.095(4)(b)6. 6. Farm Credit System Financial Assistance Corporation notes, bonds and debentures, 12 USC 2278b-10 (b).
Tax 3.095(4)(b)7. 7. Federal Deposit Insurance Corporation bonds, 12 USC 1825.
Tax 3.095(4)(b)8. 8. Federal Farm Credit Banks Consolidated Systemwide Securities, 12 USC 2055.
Tax 3.095(4)(b)9. 9. Federal Home Loan Bank bonds, debentures and notes, 12 USC 1433.
Tax 3.095(4)(b)10. 10. Federal Housing Authority debentures, 12 USC 1710 (d) and 1747g (g).
Tax 3.095(4)(b)11. 11. Federal Intermediate Credit Bank debentures, 12 USC 2079.
Tax 3.095(4)(b)12. 12. Federal Land Bank Association bonds, notes and debentures, 12 USC 2055.
Tax 3.095(4)(b)13. 13. Federal Land Bank bonds, 12 USC 2055.
Tax 3.095(4)(b)14. 14. Federal Reserve Bank dividends, 12 USC 531.
Tax 3.095(4)(b)15. 15. Federal Savings and Loan Insurance Corporation bonds, 12 USC 1725 (e).
Tax 3.095(4)(b)16. 16. Financial Assistance Corporation bonds, notes and debentures, 12 USC 2278b.
Tax 3.095(4)(b)17. 17. Financing Corporation obligations, 12 USC 1441.
Tax 3.095(4)(b)18. 18. General Insurance Fund debentures issued to acquire housing projects, 12 USC 1747g (g).
Tax 3.095(4)(b)19. 19. General Insurance Fund debentures issued under the War Housing Insurance Law, 12 USC 1739 (d).
Tax 3.095(4)(b)20. 20. General Services Administration Public Building Trust Participation certificates, 31 USC 3124.
Tax 3.095(4)(b)22. 22. Industrial Development bonds of East Samoa, 48 USC 1670.
Tax 3.095(4)(b)23. 23. Panama Canal Zone bonds, 31 USC 743-745.
Tax 3.095(4)(b)24. 24. Production Credit Association debentures, 12 USC 2098.
Tax 3.095(4)(b)25. 25. Proprietary zero-coupon certificates, 31 USC 3124.
Tax 3.095 Note Note: Proprietary zero-coupon certificates include CATS, TIGRs, Cougars, ETRs, Lions, STARs, Zebras, etc.
Tax 3.095(4)(b)26. 26. Puerto Rico Aqueduct and Sewer Authority revenue bonds, 48 USC 745.
Tax 3.095(4)(b)27. 27. Puerto Rico Electric Power Authority electric revenue bonds, 48 USC 745.
Tax 3.095(4)(b)28. 28. Puerto Rico Electric Power Authority power revenue bonds, 48 USC 745.
Tax 3.095(4)(b)29. 29. Puerto Rico Highway Authority revenue bonds, 48 USC 745.
Tax 3.095(4)(b)30. 30. Puerto Rico Industrial Development Company bonds, 48 USC 745.
Tax 3.095(4)(b)31. 31. Puerto Rico Municipal Finance Agency 1974 Series A bonds, 48 USC 745.
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