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 Wisconsin Statutes (Last Updated: January 10, 2017)
 Chapter 71. Income And Franchise Taxes For State And Local Revenues
 SubChapter III. PARTNERSHIPS AND LIMITED LIABILITY COMPANIES

  Section 71.21. Computation.

Latest version.
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    (1)  The net income of a partnership shall be computed in the same manner and on the same basis as provided for computation of the income of persons other than corporations.
    (2)  The standard deduction shall not be allowed in computing the taxable income of a partnership.
    (3)  The credits under s. 71.28 (4m) may not be claimed by a partnership or by partners, including partners of a publicly traded partnership.
    (4)  
    (a) The amount of the credits computed by a partnership under s. 71.07 (2dm) , (2dx) , (2dy) , (3g) , (3h) , (3n) , (3p) , (3q) , (3r) , (3rm) , (3rn) , (3s) , (3t) , (3w) , (3y) , (4k) , (4n) , (5e) , (5f) , (5g) , (5h) , (5i) , (5j) , (5k) , (5r) , (5rm) , (6n) , and (8r) and passed through to partners shall be added to the partnership's income.
    (b) Amounts computed by a partnership under s. 71.07 (5n) in the previous taxable year and not included in federal ordinary business income shall be added to the partnership's income.
    (5)  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.