WI SB482

Extends the carryforward period for Wisconsin's research tax credit from 15 years to 50 years, allowing businesses more time to use unused credits against future income or franchise taxes

Applies retroactively to all research credits carried over from previous tax years that have not yet been used, refunded, or expired under prior law

Creates new administrative provisions for the research credit, including rules for changes in corporate ownership or business operations under Internal Revenue Code Section 383

Requires credits to be claimed within the statutory time period specified in Wisconsin law (s. 71.75(2))

Grants the Department of Revenue full authority to administer the credits, including conducting proceedings and applying standard income/franchise tax provisions for assessments, refunds, appeals, collection, interest, and penalties