71.12 Conformity. Unless specifically provided in this subchapter, fiduciaries shall be subject to all of the provisions, requirements and liabilities of this chapter, so far as applicable, unless the context requires otherwise. History: 1987 a. 312.
71.122 Definition. In this subchapter, “Wisconsin taxable income” means federal taxable income, as defined in s. 71.01 (4), as modified under s. 71.05 (6) to (12), (19) and (20). History: 1997 a. 27.
71.125 Imposition of tax. (1) Except as provided in sub. (2), the tax imposed by this chapter on individuals and the rates under s. 71.06 (1), (1m), (1n), (1p), (1q), and (2) shall apply to the Wisconsin taxable income of estates or trusts, except nuclear decommissioning trust or reserve funds, and that tax shall be […]
71.13 Filing returns. (1) Estate or trust. Annual returns of income of an estate or a trust shall be made to the department by the fiduciary thereof at or before the time such income is required to be reported to the internal revenue service under the internal revenue code. Under such rules as the department […]
71.14 Situs of income. For purposes of determining the situs of income under this subchapter: (1) The estate of a decedent shall be considered resident at the domicile of the decedent at the time of his or her death. (2) A trust created at death by will, contract, declaration of trust or implication of law […]
71.15 Income computation. The standard deduction shall not be allowed in computing the taxable income of an estate, a trust or a common trust fund. NOTE: This section is shown as renumbered from sub. (1) by the legislative reference bureau under s. 13.92 (1) (bm) 2. History: 1987 a. 312; 2001 a. 102; 2021 a. […]
71.16 Allocation of modifications. The Wisconsin modifications applicable to the Wisconsin taxable income or Wisconsin adjusted gross income of estates, trusts and beneficiaries thereof with respect to income derived from such estates or trusts shall be computed and allocated as follows: (1) A modification or portion thereof which relates to an item of income, gain, […]
71.17 General provisions. (1) Assessment of trust income distributable to nonresident beneficiary. The income of a trust distributable or distributed to a nonresident beneficiary shall be assessed as the income of other nonresidents is assessed. No personal exemptions shall be allowed in assessing the income of such nonresident beneficiary unless that beneficiary makes a complete […]
