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WI SB859
Bill
Status
1/16/2026
Primary Sponsor
Howard Marklein
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AI Summary
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Updates Wisconsin's definition of "Internal Revenue Code" from December 31, 2022 to December 31, 2025 for state income and franchise tax purposes, affecting individuals, fiduciaries, corporations, and tax-option corporations
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Excludes numerous specific federal public law provisions from Wisconsin's adoption, including sections related to the Tax Cuts and Jobs Act (P.L. 115-97), COVID-19 relief legislation, and the Inflation Reduction Act
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Modifies reporting thresholds for non-wage payments, rents, and royalties from the fixed $600 amount to match the inflation-adjusted dollar amount under IRC Section 6041(a)
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Adds provisions allowing income adjustments to prevent double inclusion or omission of items due to state-federal tax code differences, including differences in asset basis, depreciation methods, and elections
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Updates Department of Revenue administrative rules to replace Wisconsin Form 9b with federal forms 1099-MISC and 1099-NEC for reporting compensation, rents, and royalties
Legislative Description
Adopting changes to the federal Internal Revenue Code for state tax purposes and modifying administrative rules related to such changes. (FE)
Last Action
Report of Joint Survey Committee on Tax Exemptions received, Ayes 8, Noes 1
2/10/2026