Wisconsin

Trusts, or portions of trusts, the assets of which consist of property placed in the trust by a person who is a resident of this state at the time that the trust became irrevocable if, at the time that the property was placed in the trust, the trust was revocable.

for taxable years beginning after December 31, 2022, for individuals and fiduciaries, except fiduciaries of nuclear decommissioning trust or reserve funds, "Internal Revenue Code" means the federal Internal Revenue Code as amended to December 31, 2022.

There is no estate tax for decedents dying after December 31, 2007.

For joint returns, for taxable years beginning after December 31, 2012, and before January 1, 2025: ... On all taxable income exceeding $20,000 but not exceeding $300,000, 6.27 percent, except that for taxable years beginning after December 31, 2020, 5.30 percent. On all taxable income exceeding $300,000, 7.65 percent.

On assets held more than one year and on all assets acquired from a decedent, 30 percent of the capital gain as computed under the internal revenue code, not including capital gains for which the federal tax treatment is determined under section 406 of P.L. 99-514 ... For purposes of this subdivision, the capital gains and capital losses for all assets shall be netted before application of the percentage.

Net capital losses may be carried over to subsequent taxable years.

The amount of any interest, except interest under par. (b) 1., less related expenses, which is not included in federal adjusted gross income, and except the amount of any interest or original issue discount derived from bonds issued under subch. IV of ch. 18.

The amount of any interest, except interest under par. (b) 1., less related expenses, which is not included in federal adjusted gross income, and except the amount of any interest or original issue discount derived from bonds issued under subch. IV of ch. 18.

From Wisconsin adjusted gross income there may be subtracted an amount equal to the amount excluded from gross income under section 1400Z-2 of the Internal Revenue Code for gain from a qualifying investment in a qualified opportunity fund.

(a) Except as provided in par. (b), for stock acquired after December 31, 2013, section 1202 of the Internal Revenue Code, as amended to December 31, 2012, related to the exclusion for gain from certain small business stock. (b) For taxable years beginning after December 31, 2018, section 1202 of the Internal Revenue Code in effect for federal purposes.

The amount of any interest, except interest under par. (b) 1., less related expenses, which is not included in federal adjusted gross income.

For joint returns, for taxable years beginning after December 31, 2012, and before January 1, 2025: ... On all taxable income exceeding $20,000 but not exceeding $300,000, 6.27 percent, except that for taxable years beginning after December 31, 2020, 5.30 percent. On all taxable income exceeding $300,000, 7.65 percent.

Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.

Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.

The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

All property of spouses is marital property except that which is classified otherwise under this chapter.

For joint returns, for taxable years beginning after December 31, 2012, and before January 1, 2025: ... On all taxable income exceeding $20,000 but not exceeding $300,000, 6.27 percent, except that for taxable years beginning after December 31, 2020, 5.30 percent. On all taxable income exceeding $300,000, 7.65 percent.

Net capital losses may be carried over to subsequent taxable years.