71.57 Purpose. The purpose of ss. 71.58 to 71.61 is to provide credit to owners of farmland which is subject to agricultural use restrictions, through a system of income or franchise tax credits and refunds and appropriations from the general fund. History: 1987 a. 312; 1991 a. 39; 2009 a. 28.
71.58 Definitions. In ss. 71.57 to 71.61: (1) “Claimant” means an owner, as defined in s. 91.01 (9), 2007 stats., of farmland, domiciled in this state during the entire year for which a credit under ss. 71.57 to 71.61 is claimed, except as follows: (a) When 2 or more individuals of a household are able […]
71.59 Filing claims. (1) Eligibility and qualifications. (a) Subject to the limitations provided in ss. 71.57 to 71.61 and s. 71.80 (3) and (3m), a claimant may claim as a credit against Wisconsin income or franchise taxes otherwise due, the amount derived under s. 71.60. If the allowable amount of claim exceeds the income or […]
71.60 Computation. (1) Except as provided in sub. (2), the amount of any claim filed in calendar years based upon property taxes accrued in the preceding calendar year shall be determined as follows: (a) The amount of excessive property taxes shall be computed by subtracting from property taxes accrued the amount of 7 percent of […]
71.61 General provisions. (1) Department may apply credit against any tax liability. The amount of any claim otherwise payable under ss. 71.57 to 71.61 may be applied by the department against any amount certified to the department under s. 71.93 or 71.935 or may be credited under s. 71.80 (3) or (3m). (2) Credits are […]
71.613 Farmland preservation credit, 2010 and beyond. (1) Definitions. In this section: (a) “Agricultural use” has the meaning given in s. 91.01 (2). (b) “Claimant” means an owner, as defined in s. 91.01 (9), 2007 stats., of farmland, domiciled in this state during the entire taxable year to which the claim under this section relates, […]
