560.205(3)(e) (e) Transfer. A person who is eligible to claim a credit under s. 71.07 (5b), 71.28 (5b), 71.47 (5b), or 76.638 may sell or otherwise transfer the credit to another person who is subject to the taxes or fees imposed under s. 71.02, 71.23, 71.47, or subch. III of ch. 76, if the person receives prior authorization from the investment fund manager and the manager then notifies the department of commerce and the department of revenue of the transfer and submits with the notification a copy of the transfer documents. No person may sell or otherwise transfer a credit as provided in this paragraph more than once in a 12-month period. The department may charge any person selling or otherwise transferring a credit under this paragraph a fee equal to 1 percent of the credit amount sold or transferred. The department shall deposit all fees collected under this paragraph in the appropriation account under s. 20.143 (1) (gm).
560.205 History History: 2003 a. 255; 2005 a. 49, 97; 2007 a. 20, 125; 2009 a. 2, 265, 276.
560.205 Cross-reference Cross-reference: See also ch. Comm 129, Wis. adm. code.
560.2055 560.2055 Jobs tax credit.
560.2055(1)(1)Definitions. In this section:
560.2055(1)(a)1.1. Except as provided in subd. 2., "business" means any organization or enterprise operated for profit, including a sole proprietorship, partnership, firm, business trust, joint venture, syndicate, corporation, limited liability company, or association.
560.2055(1)(a)2. 2. "Business" does not include a store or shop in which retail sales is the principal business.
560.2055(1)(b) (b) "Eligible employee" means a person employed in a full-time job by a person certified under sub. (2).
560.2055(1)(c) (c) "Full-time job" means a regular, nonseasonal full-time position in which an individual, as a condition of employment, is required to work at least 2,080 hours per year, including paid leave and holidays, and for which the individual receives pay that is equal to at least 150 percent of the federal minimum wage and benefits that are not required by federal or state law. "Full-time job" does not include initial training before an employment position begins.
560.2055(1)(d) (d) "Tax benefits" means the jobs tax credit under ss. 71.07 (3q), 71.28 (3q), and 71.47 (3q).
560.2055(2) (2)Certification. The department may certify a person to receive tax benefits under this section if all of the following apply:
560.2055(2)(a) (a) The person is operating or intends to operate a business in this state.
560.2055(2)(b) (b) The person applies under this section and enters into a contract with the department.
560.2055(3) (3)Eligibility for tax benefits. A person certified under sub. (2) may receive tax benefits under this section if, in each year for which the person claims tax benefits under this section, the person increases net employment in the person's business and one of the following apply:
560.2055(3)(a) (a) In a tier I county or municipality, an eligible employee for whom the person claims a tax credit will earn at least $20,000 but not more than $100,000 in wages from the person in the year for which the credit is claimed.
560.2055(3)(b) (b) In a tier II county or municipality, an eligible employee for whom the person claims a tax credit will earn at least $30,000 but not more than $100,000 in wages from the person in the year for which the credit is claimed.
560.2055(3)(c) (c) In a tier I county or municipality or a tier II county or municipality, the person improves the job-related skills of any eligible employee, trains any eligible employee on the use of job-related new technologies, or provides job-related training to any eligible employee whose employment with the person represents the employee's first full-time job.
560.2055(4) (4)Duration, limits, and expiration.
560.2055(4)(a)(a) The certification of a person under sub. (2) may remain in effect for no more than 10 cumulative years.
560.2055(4)(b)1.1. The department may award to a person certified under sub. (2) tax benefits for each eligible employee in an amount equal to up to 10 percent of the wages paid by the person to that employee if that employee earned wages in the year for which the tax benefit is claimed equal to one of the following:
560.2055(4)(b)1.a. a. In a tier I county or municipality, at least $20,000 but not more than $100,000.
560.2055(4)(b)1.b. b. In a tier II county or municipality, at least $30,000 but not more than $100,000.
560.2055(4)(b)2. 2. The department may award to a person certified under sub. (2) tax benefits in an amount to be determined by the department by rule for costs incurred by the person to undertake the training activities described in sub. (3) (c).
560.2055(4)(c) (c) Subject to a reallocation by the department pursuant to rules promulgated under s. 560.205 (3) (d), the department may allocate up to $5,000,000 in tax benefits under this section in any calendar year.
560.2055(5) (5)Duties of the department.
560.2055(5)(a)(a) The department of commerce shall notify the department of revenue when the department of commerce certifies a person to receive tax benefits.
560.2055(5)(b) (b) The department of commerce shall notify the department of revenue within 30 days of revoking a certification made under sub. (2).
560.2055(5)(c) (c) The department may require a person to repay any tax benefits the person claims for a year in which the person failed to maintain employment required by an agreement under sub. (2) (b).
560.2055(5)(d) (d) The department shall determine the maximum amount of the tax credits under ss. 71.07 (3q), 71.28 (3q), and 71.47 (3q) that a certified business may claim and shall notify the department of revenue of this amount.
560.2055(5)(e) (e) The department shall annually verify the information submitted to the department by the person claiming tax benefits under ss. 71.07 (3q), 71.28 (3q), and 71.47 (3q).
560.2055(5)(f) (f) The department shall promulgate rules for the implementation and operation of this section, including rules relating to the following:
560.2055(5)(f)1. 1. The definitions of a tier I county or municipality and a tier II county or municipality. The department may consider all of the following information when establishing the definitions required under this subdivision:
560.2055(5)(f)1.a. a. Unemployment rate.
560.2055(5)(f)1.b. b. Percentage of families with incomes below the poverty line established under 42 USC 9902 (2).
560.2055(5)(f)1.c. c. Median family income.
560.2055(5)(f)1.d. d. Median per capita income.
560.2055(5)(f)1.e. e. Other significant or irregular indicators of economic distress, such as a natural disaster or mass layoff.
560.2055(5)(f)2. 2. A schedule of additional tax benefits for which a person who is certified under sub. (2) and who incurs costs related to job training under sub. (3) (c) may be eligible.
560.2055(5)(f)3. 3. Conditions for the revocation of a certification under par. (b).
560.2055(5)(f)4. 4. Conditions for the repayment of tax benefits under par. (c).
560.2055 History History: 2009 a. 28, 265.
560.2056 560.2056 Food processing plant and food warehouse investment credit.
560.2056(1)(1) The department of commerce shall implement a program to certify taxpayers as eligible for the food processing plant and food warehouse investment credit under ss. 71.07 (3rn), 71.28 (3rn), and 71.47 (3rn).
560.2056 Note NOTE: The cross-references to ss. 71.07 (3rn), 71.28 (3rn), and 71.47 (3rn) were changed from ss. 71.07 (3rm), 71.28 (3rm), and 71.47 (3rm) by the legislative reference bureau under s. 13.92 (1) (bm) 2. to reflect the renumbering under s. 13.92 (1) (bm) 2. of ss. 71.07 (3rm), 71.28 (3rm), and 71.47 (3rm), as created by 2009 Wis. Act 295.
560.2056(2) (2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of food processing plant and food warehouse investment credits allocated to taxpayers in fiscal year 2009-10 may not exceed $600,000 and the total amount of food processing plant and food warehouse investment credits allocated to taxpayers in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.
560.2056(3) (3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.
560.2056(4) (4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.
560.2056 History History: 2009 a. 295; s. 13.92 (1) (bm) 2.
560.206 560.206 Film production tax credits.
560.206(1) (1) The department shall implement a program to accredit productions for purposes of ss. 71.07 (5f) and (5h), 71.28 (5f) and (5h), and 71.47 (5f) and (5h). Application for accreditation shall be made to the department in each taxable year for which accreditation is desired.
560.206(2) (2) If the department accredits a production under sub. (1), the department shall determine the amount of the production's production expenditures, as defined in s. 71.07 (5f) (a) 3.
560.206(3) (3) The department shall notify the department of revenue of every production accredited under sub. (1) and the amount of the production's production expenditures.
560.206(4) (4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.
560.206 History History: 2005 a. 483.
560.207 560.207 Dairy manufacturing facility investment credit.
560.207(1)(1) The department of commerce shall implement a program to certify taxpayers, including taxpayers who are members of dairy cooperatives, as eligible for the dairy manufacturing facility investment credit under ss. 71.07 (3p), 71.28 (3p), and 71.47 (3p).
560.207(2) (2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of dairy manufacturing facility investment credits allocated to taxpayers in fiscal year 2007-08 may not exceed $600,000 and the total amount of dairy manufacturing facility investment credits allocated to taxpayers who are not members of dairy cooperatives in fiscal year 2008-09, and in each fiscal year thereafter, may not exceed $700,000. The total amount of dairy manufacturing facility investment credits allocated to taxpayers who are members of dairy cooperatives in fiscal year 2009-10 may not exceed $600,000 and the total amount of dairy manufacturing facility investment credits allocated to taxpayers who are members of dairy cooperatives in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.
560.207(3) (3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.
560.207(4) (4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.
560.207 History History: 2007 a. 20; 2009 a. 2.
560.207 Cross-reference Cross-reference: See also s. Comm 132, Wis. adm. code.
560.208 560.208 Meat processing facility investment credit.
560.208(1)(1) The department of commerce shall implement a program to certify taxpayers as eligible for the meat processing facility investment credit under ss. 71.07 (3r), 71.28 (3r), and 71.47 (3r).
560.208(2) (2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of meat processing facility investment credits allocated to taxpayers in fiscal year 2009-10 may not exceed $300,000 and the total amount of meat processing facility investment credits allocated to taxpayers in fiscal year 2010-11, and in each fiscal year thereafter, may not exceed $700,000.
560.208(3) (3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.
560.208(4) (4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.
560.208 History History: 2009 a. 2.
560.208 Cross-reference Cross-reference: See also s. Comm 134, Wis. adm. code.
560.2085 560.2085 Qualified new business ventures.
560.2085(1) (1) The department shall implement a program to certify qualified new business ventures for purposes of s. 71.05 (24). A business desiring certification shall submit an application to the department in each taxable year for which the business desires certification. Subject to sub. (2), a business may be certified under this subsection, and may maintain such certification, only if the business is engaged in one of the following:
560.2085(1)(a) (a) Developing a new product or business process.
560.2085(1)(b) (b) Manufacturing, agriculture, or processing or assembling products and conducting research and development.
560.2085(2) (2) The department may not certify a business under sub. (1) if the business is engaged in real estate development, insurance, banking, lending, lobbying, political consultation, professional services provided by attorneys, accountants, business consultants, physicians, or health care consultants, wholesale or retail sales, leisure, hospitality, transportation, or construction.
560.2085(3)(a)(a) The department shall maintain a list of businesses certified under sub. (1) and shall permit public access to the lists through the department's Internet Web site.
560.2085(3)(b) (b) The department of commerce shall notify the department of revenue of every certification issued under sub. (1) and the date on which a certification under sub. (1) is revoked or expires.
560.2085 History History: 2009 a. 28 s. 3073; 2009 a. 276 s. 83.
560.209 560.209 Woody biomass harvesting and processing credit.
560.209(1)(1) The department of commerce shall implement a program to certify taxpayers as eligible for the woody biomass harvesting and processing credit under ss. 71.07 (3rm), 71.28 (3rm), and 71.47 (3rm).
560.209(2) (2) If the department of commerce certifies a taxpayer under sub. (1), the department of commerce shall determine the amount of credits to allocate to that taxpayer. The total amount of woody biomass harvesting and processing credits allocated to taxpayers in any fiscal year may not exceed $900,000. In each fiscal year, the department of commerce shall allocate $450,000 in tax credits to businesses that, individually, have no more than $5,000,000 in gross receipts from doing business in this state for the taxable year in which the credit is claimed.
560.209(3) (3) The department of commerce shall inform the department of revenue of every taxpayer certified under sub. (1) and the amount of credits allocated to the taxpayer.
560.209(4) (4) The department of commerce, in consultation with the department of revenue, shall promulgate rules to administer this section.
560.209 History History: 2009 a. 269.
560.21 560.21 General fund deposit.
560.21(1) (1) In this section:
560.21(1)(a) (a) "Community development finance company" has the meaning given in s. 234.94 (3).
560.21(1)(b) (b) "Equity investment" means the purchase of common or preferred capital stock or the purchase of an option or other right to acquire common or preferred capital stock.
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This is an archival version of the Wis. Stats. database for 2009. See Are the Statutes on this Website Official?