Wis. Admin. Code § Tax 2.32 — Economic development surcharge — gross receipts defined

Tax 2.32(1) (1) Purpose. This section defines “gross receipts” for purposes of the economic development surcharge under subch. VII of ch. 77 , Stats.

Tax 2.32(2) (2) Definitions. In subch. VII of ch. 77 , Stats., and this section:

Tax 2.32(2)(a) (a) “Gross receipts from all activities of corporations” means the sum of the following items reportable by corporations other than those listed in pars. (c) and (d) :

Tax 2.32(2)(a)1. 1. Gross receipts or sales reportable on federal Form 1120, U. S. corporation income tax return.

Tax 2.32(2)(a)2. 2. Gross dividends reportable on federal Form 1120.

Tax 2.32(2)(a)3. 3. Gross interest income reportable on federal Form 1120.

Tax 2.32(2)(a)4. 4. Gross rents reportable on federal Form 1120.

Tax 2.32(2)(a)5. 5. Gross royalties reportable on federal Form 1120.

Tax 2.32(2)(a)6. 6. The gross sales price from the disposition of capital assets and business assets includable in computing the net gain or loss on federal Form 1120.

Tax 2.32(2)(a)7. 7. Gross receipts passed through from other entities, and all other receipts that are included in gross income for Wisconsin franchise or income tax purposes.

Tax 2.32(2)(b) (b) “Gross receipts from all activities of exempt organizations taxable as corporations” means the sum of the following items reportable by those entities:

Tax 2.32(2)(b)1. 1. Gross receipts or sales reportable on federal Form 990-T, exempt organization business income tax return.

Tax 2.32(2)(b)2. 2. The gross sales price from the disposition of capital assets and business assets includable in computing the gain or loss on federal Form 990-T.

Tax 2.32(2)(b)3. 3. Gross rents includable in computing rent income on federal Form 990-T.

Tax 2.32(2)(b)4. 4. Gross income from unrelated debt-financed property includable in computing unrelated debt-financed income on federal Form 990-T.

Tax 2.32(2)(b)5. 5. Gross interest, annuities, royalties and rents from controlled organizations includable in computing those items of income on federal Form 990-T.

Tax 2.32(2)(b)6. 6. Gross investment income includable in computing investment income on federal Form 990-T.

Tax 2.32(2)(b)7. 7. Gross exploited exempt activity income includable in computing that item of income on federal Form 990-T.

Tax 2.32(2)(b)8. 8. Gross advertising income includable in computing advertising income on federal Form 990-T.

Tax 2.32(2)(b)9. 9. Gross receipts passed through from other entities, and all other receipts that are included in gross income for Wisconsin franchise or income tax purposes.

Tax 2.32(2)(c) (c) “Gross receipts from all activities of insurance companies” means the sum of the following items reportable by insurance companies:

Tax 2.32(2)(c)1. 1. Gross premiums earned reportable on Schedule A on federal Form 1120-PC, U. S. property and casualty insurance company income tax return.

Tax 2.32(2)(c)2. 2. Gross dividends reportable on Schedule A, or Schedule B if applicable, of federal Form 1120-PC.

Tax 2.32(2)(c)3. 3. Gross interest income reportable on Schedule A, or Schedule B if applicable, of federal Form 1120-PC.

Tax 2.32(2)(c)4. 4. Gross rents reportable on Schedule A, or Schedule B if applicable, of federal Form 1120-PC.

Tax 2.32(2)(c)5. 5. Gross royalties reportable on Schedule A, or Schedule B if applicable, of federal Form 1120-PC.

Tax 2.32(2)(c)6. 6. The gross sales price from the disposition of capital assets and business assets includable in computing the gain or loss on Schedule A, or Schedule B if applicable, of federal Form 1120-PC.

Tax 2.32(2)(c)7. 7. Gross receipts passed through from other entities, and all other receipts that are included in gross income for Wisconsin franchise or income tax purposes.

Tax 2.32(2)(d) (d) “Gross receipts from all activities of tax-option (S) corporations” means the sum of the following items reportable by S corporations:

Tax 2.32(2)(d)1. 1. Gross receipts or sales reportable on federal Form 1120S, U. S. corporation income tax return for an S corporation.

Tax 2.32(2)(d)2. 2. Gross rents includable in computing the income from real estate and other rental activities reportable on Schedule K of federal Form 1120S.

Tax 2.32(2)(d)3. 3. Gross interest income reportable on Schedule K of federal Form 1120S.

Tax 2.32(2)(d)4. 4. Ordinary dividends reportable on Schedule K of federal Form 1120S.

Tax 2.32(2)(d)5. 5. Gross royalties includable in computing royalty income reportable on Schedule K of federal Form 1120S.

Tax 2.32(2)(d)6. 6. The gross sales price from the disposition of capital assets and business assets includable in computing the gain or loss on federal Form 1120S and Schedule K of federal Form 1120S.

Tax 2.32(2)(d)7. 7. Gross receipts passed through from other entities, and all other receipts that are included in gross income for Wisconsin franchise or income tax purposes.

Tax 2.32(3) (3) Combined groups. The economic development surcharge applies to each member of a combined group separately. See s. Tax 2.82 for rules pertaining to the imposition and calculation of the economic development surcharge for combined group members.