Wisconsin Tax Changes Affecting Financial Institutions
Financial Institutions
October 09, 2009
by Maria Bruggink
Combined Reporting was included in the state's Budget Repair Bill (Wisconsin Act 2) passed in February 2009. This legislation was introduced on February 17, passed by both houses on February 18, and signed into law on February 19. It is effective for taxable years that begin on or after January 1, 2009, and will affect C corporation banks that are part of a combined group of corporations. Combined Reporting is comparable to consolidated returns which are filed for federal purposes, but get more complicated when trying to measure how much income is reportable to the state if you do business inside and outside the state.
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Length: 3 pages (PDF 54 kB)