In this subchapter:
(1) "Net income or loss" of a tax-option corporation means net income or loss computed under the internal revenue code, as defined under sub. (1g) , except that:
(ag) Section 164 (a) (3) of the internal revenue code is modified so that state taxes and taxes of the District of Columbia that are value-added taxes, single business taxes or taxes on or measured by all or a portion of net income, gross income, gross receipts or capital stock are not deductible.
(ar) Section 1363 (a) of the internal revenue code does not apply.
(b) The items referred to in section 1366 (a) (1) (A) of the internal revenue code shall be included.
(c) The deduction referred to in sections 212 and 703 (a) (2) (E) of the internal revenue code shall be allowed.
(d) An addition or subtraction, as appropriate, shall be made for the net amount of state and federal differences including differences arising from the different basis of assets disposed of in a transaction in which gain or loss is recognized for state tax purposes, different depreciation methods or difference in basis of depreciable assets, different elections, or transitional adjustments due to differences in the statutes for taxable years 1986 and 1987 pertaining to the computation of net income of a tax-option corporation.
(e) An addition shall be made for the amount of credit computed under s. 71.28 (3) and used by the corporation in the current year.
(f) An addition shall be made for the amount of interest, less related expenses, excluded by reason of section 103 of the internal revenue code (relating to interest received on state and municipal obligations and on volunteer fire department and mass transit obligations) or any other federal law.
(g) An addition shall be made for credits computed by a tax-option corporation under s. 71.28 (1dd) , (1de) , (1di) , (1dj) , (1dL) , (1dm) , (1ds) , (1dx) , (3) , (3g) , (3n) , (3t) , and (5b) and passed through to shareholders.
(h) Section 162 of the internal revenue code (relating to trade or business expenses) is modified so that payments for wages, salaries, bonuses, interest or other expenses paid to an entertainer or entertainment corporation may be deducted only if the corporation complies with ss. 71.63 (3) (b) , 71.64 (4) and (5) and 71.80 (15) (e) .
(i) In section 1366 (f) of the Internal Revenue Code, the tax under s. 71.35 is substituted for the taxes under sections 1374 and 1375 of the Internal Revenue Code.
(1g)
(j) "Internal Revenue Code" for tax-option corporations, for taxable years that begin after December 31, 1994, and before January 1, 1996, means the federal Internal Revenue Code as amended to December 31, 1994, excluding sections 103, 104, and 110 of P.L. 102-227 and sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , and as amended by P.L. 104-7 , P.L. 104-188 , excluding sections 1202, 1204, 1311, and 1605 of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , and as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514 , P.L. 100-203 , P.L. 100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647 , P.L. 101-73 , P.L. 101-140 , P.L. 101-179 , P.L. 101-239 , P.L. 101-508 , P.L. 102-227 , excluding sections 103, 104, and 110 of P.L. 102-227 , P.L. 102-318 , P.L. 102-486 , P.L. 103-66 , excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , P.L. 103-296 , P.L. 103-337 , P.L. 103-465 , P.L. 104-7 , P.L. 104-188 , excluding sections 1202, 1204, 1311, and 1605 of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , except that section 1366 (f) (relating to pass-through of items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the federal Internal Revenue Code enacted after December 31, 1994, do not apply to this paragraph with respect to taxable years beginning after December 31, 1994, and before January 1, 1996, except changes to the Internal Revenue Code made by P.L. 104-7 , P.L. 104-188 , excluding sections 1202, 1204, 1311, and 1605 of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , and changes that indirectly affect the provisions applicable to this subchapter made by P.L. 104-7 , P.L. 104-188 , excluding sections 1202, 1204, 1311 and 1605 of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , apply for Wisconsin purposes at the same time as for federal purposes.
(k) "Internal Revenue Code" for tax-option corporations, for taxable years that begin after December 31, 1995, and before January 1, 1997, means the federal Internal Revenue Code as amended to December 31, 1995, excluding sections 103, 104, and 110 of P.L. 102-227 and sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , and as amended by P.L. 104-188 , excluding sections 1123, 1202, 1204, 1311, and 1605 of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-33 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , and as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514 , P.L. 100-203 , P.L. 100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647 , P.L. 101-73 , P.L. 101-140 , P.L. 101-179 , P.L. 101-239 , P.L. 101-508 , P.L. 102-227 , excluding sections 103, 104, and 110 of P.L. 102-227 , P.L. 102-318 , P.L. 102-486 , P.L. 103-66 , excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , P.L. 103-296 , P.L. 103-337 , P.L. 103-465 , P.L. 104-7 , P.L. 104-188 , excluding sections 1123, 1202, 1204, 1311, and 1605 of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-33 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , except that section 1366 (f) (relating to pass-through of items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the federal Internal Revenue Code enacted after December 31, 1995, do not apply to this paragraph with respect to taxable years beginning after December 31, 1995, and before January 1, 1997, except that changes to the Internal Revenue Code made by P.L. 104-188 , excluding sections 1123, 1202, 1204, 1311, and 1605 of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-33 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , and changes that indirectly affect the provisions applicable to this subchapter made by P.L. 104-188 , excluding sections 1123, 1202, 1204, 1311, and 1605 of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-33 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , apply for Wisconsin purposes at the same time as for federal purposes.
(L) "Internal Revenue Code" for tax-option corporations, for taxable years that begin after December 31, 1996, and before January 1, 1998, means the federal Internal Revenue Code as amended to December 31, 1996, excluding sections 103, 104, and 110 of P.L. 102-227 , sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , and as amended by P.L. 105-33 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , and as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514 , P.L. 100-203 , P.L. 100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647 , P.L. 101-73 , P.L. 101-140 , P.L. 101-179 , P.L. 101-239 , P.L. 101-508 , P.L. 102-227 , excluding sections 103, 104, and 110 of P.L. 102-227 , P.L. 102-318 , P.L. 102-486 , P.L. 103-66 , excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , P.L. 103-296 , P.L. 103-337 , P.L. 103-465 , P.L. 104-7 , P.L. 104-188 , excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-33 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , except that section 1366 (f) (relating to pass-through of items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the federal Internal Revenue Code enacted after December 31, 1996, do not apply to this paragraph with respect to taxable years beginning after December 31, 1996, and before January 1, 1998, except that changes to the Internal Revenue Code made by P.L. 105-33 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , and changes that indirectly affect the provisions applicable to this subchapter made by P.L. 105-33 , P.L. 105-34 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , apply for Wisconsin purposes at the same time as for federal purposes.
(m) "Internal Revenue Code" for tax-option corporations, for taxable years that begin after December 31, 1997, and before January 1, 1999, means the federal Internal Revenue Code as amended to December 31, 1997, excluding sections 103, 104, and 110 of P.L. 102-227 , sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , and as amended by P.L. 105-178 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-170 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , P.L. and 107-181, and as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514 , P.L. 100-203 , P.L. 100-647 excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647 , P.L. 101-73 , P.L. 101-140 , P.L. 101-179 , P.L. 101-239 , P.L. 101-508 , P.L. 102-227 , excluding sections 103, 104, and 110 of P.L. 102-227 , P.L. 102-318 , P.L. 102-486 , P.L. 103-66 , excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , P.L. 103-296 , P.L. 103-337 , P.L. 103-465 , P.L. 104-7 , P.L. 104-188 , excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-33 , P.L. 105-34 , P.L. 105-178 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-170 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , except that section 1366 (f) (relating to pass-through of items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the federal Internal Revenue Code enacted after December 31, 1997, do not apply to this paragraph with respect to taxable years beginning after December 31, 1997, and before January 1, 1999, except that changes to the Internal Revenue Code made by P.L. 105-178 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-170 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , and changes that indirectly affect the provisions applicable to this subchapter made by P.L. 105-178 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-170 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , and P.L. 107-181 , apply for Wisconsin purposes at the same time as for federal purposes.
(n) "Internal Revenue Code" for tax-option corporations, for taxable years that begin after December 31, 1998, and before January 1, 2000, means the federal Internal Revenue Code as amended to December 31, 1998, excluding sections 103, 104, and 110 of P.L. 102-227 , sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , and as amended by P.L. 106-36 , P.L. 106-170 , P.L. 106-230 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , P.L. 107-181 , and P.L. 107-276 , and as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514 , P.L. 100-203 , P.L. 100-647 , excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647 , P.L. 101-73 , P.L. 101-140 , P.L. 101-179 , P.L. 101-239 , P.L. 101-508 , P.L. 102-227 , excluding sections 103, 104, and 110 of P.L. 102-227 , P.L. 102-318 , P.L. 102-486 , P.L. 103-66 , excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , P.L. 103-296 , P.L. 103-337 , P.L. 103-465 , P.L. 104-7 , P.L. 104-188 , excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-33 , P.L. 105-34 , P.L. 105-178 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-170 , P.L. 106-230 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , P.L. 107-181 , and P.L. 107-276 , except that section 1366 (f) (relating to pass-through of items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the federal Internal Revenue Code enacted after December 31, 1998, do not apply to this paragraph with respect to taxable years beginning after December 31, 1998, and before January 1, 2000, except that changes to the Internal Revenue Code made by P.L. 106-36 , P.L. 106-170 , P.L. 106-230 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , P.L. 107-181 , and P.L. 107-276 , and changes that indirectly affect the provisions applicable to this subchapter made by P.L. 106-36 , P.L. 106-170 , P.L. 106-230 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , P.L. 107-181 , and P.L. 107-276 , apply for Wisconsin purposes at the same time as for federal purposes.
(o) "Internal Revenue Code" for tax-option corporations, for taxable years that begin after December 31, 1999, and before January 1, 2003, means the federal Internal Revenue Code as amended to December 31, 1999, excluding sections 103, 104, and 110 of P.L. 102-227 , sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 and sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , and as amended by P.L. 106-230 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-15 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107.22, P.L. 107.116, P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , P.L. 107-181 , P.L. 107-210 , P.L. 107-276 , and P.L. 107-358 , and as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514 , P.L. 100-203 , P.L. 100-647 , excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647 , P.L. 101-73 , P.L. 101-140 , P.L. 101-179 , P.L. 101-239 , P.L. 101-508 , P.L. 102-227 , excluding sections 103, 104, and 110 of P.L. 102-227 , P.L. 102-318 , P.L. 102-486 , P.L. 103-66 , excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , P.L. 103-296 , P.L. 103-337 , P.L. 103-465 , P.L. 104-7 , P.L. 104-188 , excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-33 , P.L. 105-34 , P.L. 105-178 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-170 , P.L. 106-230 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-15 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-22 , P.L. 107-116 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , P.L. 107-181 , P.L. 107-210 , P.L. 107-276 , and P.L. 107-358 , except that section 1366 (f) (relating to pass-through of items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the federal Internal Revenue Code enacted after December 31, 1999, do not apply to this paragraph with respect to taxable years beginning after December 31, 1999, and before January 1, 2003, except that changes to the Internal Revenue Code made by P.L. 106-230 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-15 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-22 , P.L. 107-116 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , P.L. 107-181 , P.L. 107-210 , P.L. 107-276 , and P.L. 107-358 , and changes that indirectly affect the provisions applicable to this subchapter made by P.L. 106-230 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-15 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-22 , P.L. 107-116 , P.L. 107-134 , P.L. 107-147 , excluding sections 101 and 406 of P.L. 107-147 , P.L. 107-181 , P.L. 107-210 , P.L. 107-276 , and P.L. 107-358 , apply for Wisconsin purposes at the same time as for federal purposes.
(p) "Internal Revenue Code" for tax-option corporations, for taxable years that begin after December 31, 2002, means the federal Internal Revenue Code as amended to December 31, 2002, excluding sections 103, 104, and 110 of P.L. 102-227 , sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , P.L. 106-519 , sections 162 and 165 of P.L. 106-554 , P.L. 106-573 , section 431 of P.L. 107-16 , and section 101 of P.L. 107-147 , and as indirectly affected in the provisions applicable to this subchapter by P.L. 99-514 , P.L. 100-203 , P.L. 100-647 , excluding sections 803 (d) (2) (B), 805 (d) (2), 812 (c) (2), 821 (b) (2), and 823 (c) (2) of P.L. 99-514 and section 1008 (g) (5) of P.L. 100-647 , P.L. 101-73 , P.L. 101-140 , P.L. 101-179 , P.L. 101-239 , P.L. 101-508 , P.L. 102-227 , excluding sections 103, 104, and 110 of P.L. 102-227 , P.L. 102-318 , P.L. 102-486 , P.L. 103-66 , excluding sections 13113, 13150 (d), 13171 (d), 13174, and 13203 (d) of P.L. 103-66 , P.L. 103-296 , P.L. 103-337 , P.L. 103-465 , P.L. 104-7 , P.L. 104-188 , excluding sections 1123 (b), 1202 (c), 1204 (f), 1311, and 1605 (d) of P.L. 104-188 , P.L. 104-191 , P.L. 104-193 , P.L. 105-33 , P.L. 105-34 , P.L. 105-178 , P.L. 105-206 , P.L. 105-277 , P.L. 106-36 , P.L. 106-170 , P.L. 106-230 , P.L. 106-554 , excluding sections 162 and 165 of P.L. 106-554 , P.L. 107-15 , P.L. 107-16 , excluding section 431 of P.L. 107-16 , P.L. 107-22 , P.L. 107-116 , P.L. 107-134 , P.L. 107-147 , excluding section 101 of P.L. 107-147 , P.L. 107-181 , P.L. 107-210 , P.L. 107-276 , and P.L. 107-358 , except that section 1366 (f) (relating to pass-through of items to shareholders) is modified by substituting the tax under s. 71.35 for the taxes under sections 1374 and 1375. The Internal Revenue Code applies for Wisconsin purposes at the same time as for federal purposes. Amendments to the federal Internal Revenue Code enacted after December 31, 2002, do not apply to this paragraph with respect to taxable years beginning after December 31, 2002.
(2) "Tax-option corporation" means a corporation which is treated as an S corporation under subchapter S of the internal revenue code and has not elected out of tax-option corporation status under s. 71.365 (4) (a) for the current taxable year.
(3) "Tax-option item" means an item of income, loss or deduction.
(4) "Wisconsin net income", for tax-option corporations engaged in business wholly within this state, means net income and, for tax-option corporations engaged in business both within and outside this state, means the amount assigned to this state under s. 71.25 .