WI AB884

Individuals age 67+ claiming the retirement income tax subtraction (up to $24,000 individual/$48,000 joint) are prohibited from claiming any state income tax credits, including carrying forward unused credits to subsequent tax years

Film production services tax credit calculations must use actual production expenditures rather than budgeted expenditures when determining whether the $1,000,000 threshold applies for excluding the two highest-paid employees' wages

Only the first $250,000 of salary or wages paid to each employee may be used to calculate the film production tax credit

Department of Revenue is authorized to act as an agent of the Department of Administration for purchasing contractual services that require access to federal tax information from the IRS

Technical corrections update statutory references from "26 USC 408" to "section 408 of the Internal Revenue Code" and consolidate retirement plan subtraction provisions