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Wisconsin Free Printable 2019 IP-130 Instructions for 2019 Wisconsin Form 3 for 2020 Wisconsin Form 3 Partnership Return

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Form 3 Partnership Return
2019 IP-130 Instructions for 2019 Wisconsin Form 3

Instructions for 2019 Wisconsin Form 3 Page 1 Table of Contents General Instructions for Form 3 ............................................................................................................................................ 2 Who Must File Form 3 ............................................................................................................................................................ 2 Definitions ................................................................................................................................................................................ 3 When and Where to File ........................................................................................................................................................ 3 Period Covered by Return and Accounting Methods ........................................................................................................ 4 Payment of Estimated Tax .................................................................................................................................................... 5 Disclosure of Related Entity Expenses and Reportable Transactions ........................................................................... 5 Internal Revenue Service Adjustments, Amended Returns, and Claims for Refund ................................................... 6 Partnerships Having Nonresident Partners ........................................................................................................................ 6 Schedules 3K-1 and Information Returns ........................................................................................................................... 7 Wisconsin Use Tax ................................................................................................................................................................. 8 Conformity with Internal Revenue Code and Exceptions ............................................................................................... 8 Provisions of the Internal Revenue Code Not Adopted by Wisconsin: ........................................................................... 8 Other Exceptions to Internal Revenue Code .................................................................................................................... 11 Depreciation and Bonus Depreciation ............................................................................................................................... 11 Section 179 Expense ........................................................................................................................................................... 12 How to Report Differences .................................................................................................................................................. 12 Specific Instructions for Form 3 .......................................................................................................................................... 12 Items A Through J ................................................................................................................................................................ 12 Part I – Calculation of Tax Due or Refund......................................................................................................................... 13 Part II - Schedule 3K – Partners’ Distributive Share Items ........................................................................................... 16 Schedule 3K, Columns (b) Through (d) ............................................................................................................................. 16 Adjustments Reportable on Schedule 3K, Column c ...................................................................................................... 16 Modifications Prescribed in Wisconsin Law ...................................................................................................................... 17 Credits Reportable on Schedule 3K, Line 15 ................................................................................................................... 19 “Other Items and Amounts” Reportable on Schedule 3K, Item 20c .............................................................................. 21 Schedule 3K, Lines 21 Through 23 .................................................................................................................................... 21 Submitting Your Form 3 ....................................................................................................................................................... 22 Part III - Specific Instructions for Schedule 3K – Partners' Share of Additions and Subtractions .................... 22 Additions: ............................................................................................................................................................................... 23 Subtractions:.......................................................................................................................................................................... 29 Additional Information, Assistance, and Forms.............................................................................................................. 34 Web Resources: ................................................................................................................................................................... 34 IP-130 (R. 12-19) Instructions for 2019 Wisconsin Form 3 Page 2 Contact Information: ............................................................................................................................................................. 34 Obtaining Forms: .................................................................................................................................................................. 35 Applicable Laws and Rules: ................................................................................................................................................ 35 General Instructions for Form 3 Important Notices • For taxable years beginning January 1, 2019, provisions in 2017 Wis. Act 368, provide partnerships an election to pay tax at the entity level pursuant to sec. 71.21(6)(a), Wis. Stats. If a partnership makes the election to pay tax at the entity level, the partnership must check box "I" on page 1 of Form 3 and submit a completed Schedule 3-ET, Entity-Level Tax Computation, with Form 3. For additional information detailing the entity-level tax election, see Common Questions on the department's website at revenue.wi.gov/Pages/FAQS/ise-passthroughpartnr.aspx. • For 2019, Wisconsin apportionment Forms A-1 and A-2 have been replaced with Wisconsin apportionment Schedules A01 through A-11. For additional details on the new apportionment schedules, see the 2019 partnership forms on the department's website at revenue.wi.gov/Pages/Form/2019Partnership.aspx. Partnerships, including limited liability companies (LLCs) treated as partnerships, use Form 3 to report their income, gains, losses, deductions, and credits. Who Must File Form 3 Every partnership and limited liability company treated as a partnership with income from Wisconsin sources, regardless of the amount, must file Form 3. For example, a partnership must file a return if it has income from: • Business transacted in Wisconsin, • Personal or professional services performed in Wisconsin, • Real or tangible personal property located in Wisconsin, • A covenant not to compete, if that covenant was based on a Wisconsin-based activity, or • Wisconsin lottery prizes, including income from the sale of or purchase and subsequent sale or redemption of lottery prizes if the winning tickets were originally bought in Wisconsin. The Department of Revenue may also require a partnership with Wisconsin resident partners to file a Wisconsin partnership return even though it has no Wisconsin business or income. For example, an out-of-state partnership that does no business in Wisconsin, has no property in Wisconsin, and has no income from Wisconsin sources may be requested to file a partnership return to enable the Department of Revenue to compute a Wisconsin resident partner’s Wisconsin tax liability. Exceptions: The following partnerships and limited liability companies are not required to file Form 3: • A syndicate, pool, joint venture, or similar organization that isn’t required to file a federal partnership return because it has elected under Internal Revenue Code (IRC) section 761(a) not to be treated as a partnership for federal income tax purposes may make a similar election for Wisconsin purposes. To make the election, attach a copy of the federal election statement to the Form 3 filed with the Department of Revenue for the year of election. • If the Wisconsin election is made, the organization generally won’t have to file Form 3 except for the year of election. However, the Department of Revenue may require the organization to file a return so that a partner’s Wisconsin tax liability may be computed. IP-130 (R. 12-19) New Instructions for 2019 Wisconsin Form 3 Page 3 • Publicly traded partnerships treated as corporations under IRC section 7704 must file Wisconsin Form 4 or 6 instead of Form 3. • Limited liability companies treated as corporations for federal income tax purposes must file Wisconsin Form 4 or 6 instead of Form 3. • Single member limited liability companies that are disregarded as separate entities under IRC section 7701 are disregarded as separate entities for Wisconsin purposes. The member is required to include the income and expenses of the limited liability company on the member’s return. • Common trust funds are treated as fiduciaries under Wisconsin law and must file Wisconsin Form 2 instead of Form 3. Definitions Partnership. A partnership is an association of two or more persons to carry on as co-owners a trade or business for profit. The term “partnership” includes a limited partnership, registered limited liability partnership, syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and is not, within the meaning of the Wisconsin income tax law, a corporation, trust, estate, or sole proprietorship. Limited Partnership. A limited partnership is formed under a state limited partnership law and composed of at least one general partner and one or more limited partners. Registered Limited Liability Partnership. A registered limited liability partnership (LLP) is formed under Wisconsin limited liability partnership law and registered under sec. 178.40, Wis. Stats. Generally, a partner in an LLP isn’t personally liable for the debts of the LLP or any other partner. Foreign Registered Limited Liability Partnership. A foreign limited liability partnership is formed pursuant to an agreement governed by the laws of a state other than Wisconsin or another country and registered under the laws of that jurisdiction. General Partner. A general partner is a partner who is personally liable for partnership debts. Limited Partner. A limited partner is a partner whose personal liability for partnership debts is limited to the amount of money or other property that the partner contributed or is required to contribute to the partnership. Note: A partner who has the authority to act for or bind the partnership in any way or to participate in any way in the management or business affairs of the partnership, or both, is deemed to be a general partner, even if the person is defined as a limited partner in the partnership agreement. Limited Liability Company. A limited liability company (LLC) is an entity formed under state law by filing articles of organization as an LLC. Unlike a partnership, none of the members of an LLC are personally liable for its debts. However, members or other persons may be personally liable for the payment of taxes based on their responsibilities or actions. An LLC may be classified for federal income tax purposes as a partnership, a corporation, or as an entity disregarded as a separate entity from its owner. If an LLC is classified as a partnership for federal income tax purposes, it is treated as a partnership for Wisconsin purposes. An LLC classified as a corporation for federal income tax purposes is treated as a corporation by Wisconsin. An LLC disregarded as a separate entity for federal income tax purposes is also disregarded as a separate entity for Wisconsin income tax purposes. For more information, obtain Wisconsin Publication 119, Limited Liability Companies (LLCs). When and Where to File A partnership must file its return with the Wisconsin Department of Revenue by the 15th day of the 3rd month following the close of its taxable year. Extensions. Any extension allowed by the Internal Revenue Service (IRS) for filing the federal return automatically extends the Wisconsin due date, if you include a copy of the federal extension with your Wisconsin return. If you aren’t requesting a federal extension, but you need additional time to file your Wisconsin return, you may obtain an IP-130 (R. 12-19) Instructions for 2019 Wisconsin Form 3 Page 4 extension available to partnerships under federal law. To receive the Wisconsin extension, include with your Wisconsin return a completed copy of the appropriate federal extension form or a statement explaining which federal extension provision you are using. Disaster Relief Extension. If you are filing under extension because of a federal or state disaster, include a statement indicating which disaster extension you are using and attach it to your return. Additional information on disaster areas can be found here: revenue.wi.gov/Pages/Businesses/Disaster-Tax-Assistance.aspx The IRS allows an extension period of six months. This same extension period applies to Wisconsin partnership returns. CAUTION: An extension for filing the return doesn’t extend the time to pay the franchise or income tax. Interest will be charged on the tax not paid by the 15th day of the 3rd month following the close of the taxable year. You can avoid interest charges during the extension period by paying the tax due by that date. Submit your payment with Wisconsin Form 3-ES, Wisconsin Partnership Estimated Tax Voucher. Filing Methods. Partnerships are required to file tax returns electronically and may file electronically through the Federal/State E-Filing Program. For a list of software vendors participating in this program, visit the department’s web page at: revenue.wi.gov/Pages/OnlineServices/corp-partnership-third-party-vendors.aspx If it is not possible to file the return electronically, a waiver must be obtained in order to file a paper return. More information is available from the department's web page at revenue.wi.gov/Pages/TaxPro/2011/news-2011110727b.aspx. If an electronic filing waiver is approved, file your return on paper using these mailing instructions: • Do not fasten, staple or bind the pages of your return. Use paper clips instead. • If you are submitting multiple returns, separate them with colored separator sheets. • Use the mailing address shown on page 4 of the form. Period Covered by Return and Accounting Methods The return must cover the same period as the partnership’s federal income tax return. File a 2019 Wisconsin return for calendar year 2019 or a fiscal year that begins in 2019. Generally, a fiscal year may end only on the last day of a month. Finally, the period covered by the return can’t exceed 12 months. Fiscal example: Partnership AB has a fiscal year beginning March 1, 2019 and ending February 29, 2020. Partnership AB files a 2019 Form 3 for the period of March 1, 2019 through February 29, 2020. If a partnership elects, under IRC section 444, to have a taxable year other than a required taxable year, that election also applies for Wisconsin. Unlike for federal purposes, the partnership doesn’t have to make a required payment of tax as provided in IRC section 7519. Partnerships reporting on a 52-53-week period for federal tax purposes must file on the same reporting period for Wisconsin. A 52-53-week taxable year is deemed to begin on the first day of the calendar month beginning nearest the first day of the 52-53-week taxable year. The taxable year is deemed to end on the last day of the calendar month closest to the last day of the 52-53-week taxable year for purposes of due dates, extensions, and assessments of interest and penalties. Any change in accounting period made for federal purposes must also be made for Wisconsin purposes. For the first taxable year for which the change applies, file with the Wisconsin return a copy of the IRS’s notice of approval of accounting period change if such approval is required or an explanation of the change if the IRS’s approval isn’t required. Figure ordinary income by the accounting method regularly used in maintaining the partnership’s books and records. The method may include the cash receipts and disbursements method, an accrual method, or any other method IP-130 (R. 12-19) New Instructions for 2019 Wisconsin Form 3 Page 5 permitted by the IRC in effect for Wisconsin. The method must clearly reflect income. Payment of Estimated Tax If the total of a partnership's franchise or income tax due is $500 or more, it generally must make quarterly estimated tax payments using Wisconsin Form 3- ES or by electronic funds transfer (EFT). If you make an EFT payment using My Tax Account, use "estimated payment" as the payment type. Failure to make required estimated tax payments may result in an interest charge. You may download vouchers from the department’s website at revenue.wi.gov/html/formpub.html, or you may request vouchers by calling the Department of Revenue's Madison office at (608) 266-2772. Disclosure of Related Entity Expenses and Reportable Transactions A partnership may be required to separately disclose certain expenses paid, accrued, or incurred to a related entity. A partnership or a partnership’s material advisor may also be required to separately disclose reportable transactions. CAUTION: Wisconsin law provides that certain related entity expenses shall not be allowed as deductions if they are not timely disclosed as required by the Department of Revenue. Also, penalties may apply for failure to disclose reportable transactions to the Department. Disclosure of Related Entity Expenses. If the partnership will be deducting more than $100,000 (after considering the effect of apportionment) of interest, rent, management fees, or intangible expenses paid, accrued, or incurred to a related person or entity, the partnership must generally include Schedule RT, Wisconsin Related Entity Expenses Disclosure Statement, with its franchise or income tax return. The Schedule RT instructions explain the reporting requirements. However, even if you are not required to include Schedule RT, if you are taking deductions for interest, rent, management fees, or intangible expenses, paid, accrued, or incurred to related entities, you must add those expenses back to federal income as Wisconsin modification. If the expenses meet the tests for deductibility, you may subtract them out as subtraction modifications on Schedule 3K. Partnership’s Disclosure of Reportable Transactions. If a partnership was required to include any form with its federal tax return to disclose a “reportable transaction,” as defined under sec. 71.81(1)(c), Wis. Stats., it must file a copy of that form with the Department of Revenue within 60 days of the date it is required to file it for federal income tax purposes, provided that it is otherwise required to file a Wisconsin return. This includes federal Form 8886, Reportable Transaction Disclosure Statement. Include the form(s) with your return or send a paper copy of the form(s), separate from your Form 3, to the following address: Wisconsin Department of Revenue, Tax Shelters Program, PO Box 8958, Madison, WI 53708-8958. Material Advisor’s Disclosure of Reportable Transactions. A “material advisor” means any person who provides any material aid, assistance, or advice with respect to organizing, managing, promoting, selling, implementing, insuring, or carrying out any reportable transaction (as defined in the U.S. Treasury Regulations) and who, directly or indirectly, derives gross income from providing such aid, assistance, or advice in an amount that exceeds the threshold amount. For a material advisor providing advice to an entity and not an individual, the “threshold amount” is any of the following: • $25,000 if the reportable transaction is a listed transaction (as defined in the U.S. Treasury Regulations). • $250,000 if the reportable transaction is not a listed transaction. IP-130 (R. 12-19) New Instructions for 2019 Wisconsin Form 3 Page 6 For a material advisor providing advice to an individual, the “threshold amount” is any of the following: • $10,000 if the reportable transaction is a listed transaction (as defined in the U.S. Treasury Regulations). • $50,000 if the reportable transaction is not a listed transaction. A material advisor that is required to disclose a reportable transaction to the IRS must file a copy of the disclosure with the Department of Revenue within 60 days of the date it is required for federal income tax purposes, if the reportable transaction affects the taxpayer’s Wisconsin income or franchise tax liability. For federal purposes, the form required for this disclosure is Form 8918. If you are required to file Form 8918 for federal income tax purposes and the reportable transaction to which the form relates affects the taxpayer’s Wisconsin income or franchise tax liability, send a paper copy, separate from Form 3, to the following address: Wisconsin Department of Revenue, Tax Shelters Program, PO Box 8958, Madison, WI 53708-8958. Include a listing of the names and identification numbers of each Wisconsin taxpayer to whom the advisor provided services. Internal Revenue Service Adjustments, Amended Returns, and Claims for Refund Internal Revenue Service Adjustments. If a partnership’s federal tax return is adjusted by the IRS and such adjustments affect the Wisconsin net tax payable, the amount of a Wisconsin credit, a Wisconsin net operating loss carryforward, or a Wisconsin capital loss carryforward of a partner, you must report such adjustments to the Department of Revenue within 90 days after they become final by either filing an amended Wisconsin franchise/income tax return or mailing a copy of the final federal audit report. In addition, each partner must file an amended Wisconsin income tax return reporting his, her, or its share of each adjustment made by the IRS to the partnership return. Each partner must include an amended Schedule 3K-1 with the amended return filed. Amended Returns. If the partnership and the partners file amended federal returns and the changes affect the Wisconsin net tax payable, the amount of a Wisconsin credit, a Wisconsin net operating loss carryforward, or a Wisconsin capital loss carryforward of a partner, both the partnership and the partners must file amended Wisconsin returns with the Department of Revenue within 90 days after filing the amended federal returns. To file an amended Wisconsin return, use Form 3 and check item C on the front of the return. Include Schedule AR with the return in order to provide an explanation of any changes made. If the change involves an item of income, deduction, or credit that you were required to support with a form or schedule on your original return, include the corrected form or schedule with your amended return. In addition include amended Schedules 3K-1 and provide copies to the partners to include with their amended Wisconsin returns. Do not submit a copy of the original return. File your amended return electronically by using one of the third-party software providers: revenue.wi.gov/Pages/OnlineServices/corp-partnership-third-party-vendors.aspx If you have an approved electronic filing waiver, send your amended Form 3 to the Wisconsin Department of Revenue, PO Box 8908, Madison, WI 53708-8908. Don’t attach amended returns to other tax returns that you are filing. Claims for Refund. A claim for refund must be filed within four years of the unextended due date of the return. However, a claim for refund to recover all or part of any tax or credit paid as a result of an office or field audit must be filed within four years after such an assessment. That assessment must have been paid and must not have been protested by filing a petition for redetermination. See sec. Tax 2.12, Wis. Adm. Code, for more information. Partnerships Having Nonresident Partners A partnership that has one or more nonresident partners is generally required to pay pass-through entity withholding. Additionally, the partnership may file a composite individual income tax return on behalf of qualifying nonresident individual partners. Pass-Through Entity Withholding. A partnership is generally required to pay withholding tax on its distributable income which is allocable to a nonresident partner. IP-130 (R. 12-19) New Instructions for 2019 Wisconsin Form 3 Page 7 A nonresident partner includes: • An individual who is not domiciled in Wisconsin; • A partnership, limited liability company, or corporation whose commercial domicile is outside Wisconsin; and • An estate or trust that is a nonresident under sec. 71.14(1) to (3m), Wis. Stats. However, withholding is not required on behalf of the following nonresident partners: • A partner who is not otherwise subject to Wisconsin income or franchise tax (such as a 501(c)(3) organization with no unrelated business taxable income). • A partner whose share of income from the partnership is less than $1,000. • A partner who completes Form PW-2, Wisconsin Nonresident Partner, Member, Shareholder, or Beneficiary Pass-Through Withholding Exemption Affidavit, or receives a continuous exemption letter from the department and provides the exemption letter to the partnership. See the Form PW-2 instructions for details. Note: Pass-through withholding is not required if a partnership makes an election under sec. 71.21(6)(a), Wis. Stats., to pay tax at the entity level and does not pass-through any withholding to its partners on Schedule 3K-1. Withholding Required. A pass-through entity is required to pay quarterly estimated withholding tax on a nonresident member’s share of income attributable to Wisconsin. The pass-through entity must make quarterly payments of withholding tax on or before the 15th day of the 3rd, 6th, 9th, and 12th month of the taxable year. You make the estimated withholding tax payments electronically. If you obtained a waiver from electronic payment, use Form PW-ES, Wisconsin Pass-Through Entity Withholding Estimated Payment Voucher, to make the estimated withholding tax payments. The partnership must also file Form PW-1, Wisconsin Nonresident Income or Franchise Tax Withholding on PassThrough Entity Income, annually to report estimated withholding tax paid and to pay any additional withholding tax due on behalf of its nonresident partners. Form PW-1 is due with payment by the 15th day of the 3rd month following the close of the partnership’s taxable year. See the Form PW-1 instructions for details of the filing procedures. Composite Return for Nonresident Individual Partners. A partnership that has two or more nonresident individual partners who derive no taxable income or deductible loss from Wisconsin other than their distributive shares from the partnership may file a composite individual income tax return on behalf of those partners. The partnership files this return on Form 1CNP, Composite Individual Income Tax Return for Nonresident Partners. Individuals that are fiscal year filers or part-year Wisconsin residents may not participate in the composite return. No tax credits are allowed on the composite return other than a credit for pass-through entity withholding tax paid on behalf of each participating partner. Additionally, participating partners cannot claim any amounts deductible as itemized deductions on the composite return. Partners that do not qualify to participate in the composite return must file a separate Wisconsin return to report the income from the partnership. For more information on eligibility for composite filing and composite filing procedures, see the Form 1CNP instructions. Schedules 3K-1 and Information Returns Schedules 3K-1. The partnership must submit a Schedule 3K-1 for each of its partners along with its Form 3. The department is no longer accepting Schedules 3K-1 on magnetic media. File them electronically. You may obtain specifications on the department’s website at revenue.wi.gov/Pages/OnlineServices/corp-partnership-third-partyvendors.aspx. Information Returns for Miscellaneous Income. If the partnership paid $600 or more in rents, royalties, or certain nonwage compensation to one or more individuals, the partnership must file an information return to report those payments. You may use Wisconsin Form 9b, Miscellaneous Income, or you may use federal Form 1099 instead of Form 9b. For more information, see the Form 9b instructions. IP-130 (R. 12-19) New Instructions for 2019 Wisconsin Form 3 Page 8 Wisconsin Use Tax The partnership may be liable for use tax. Use tax is the counterpart of sales tax. All tangible personal property, certain coins and stamps, certain leased properties affixed to real estate, certain digital goods, and selected services, taxable under Wisconsin’s sales tax law, which are stored, used, or consumed in Wisconsin, are subject to use tax if the proper sales tax is not paid. Examples of purchases that frequently result in a use tax liability include the following: • Mail order and Internet purchases. You owe Wisconsin use tax if you buy such items as computers, furniture, or office supplies from a vendor who is not registered to collect Wisconsin tax. • Inventory. If you purchase inventory items without tax for resale, and then use these items instead of selling them, you owe use tax. • Give-aways. Generally, if you purchase items without tax and then give them away in Wisconsin, you owe use tax. If you hold a seller’s permit, use tax certificate, or consumer’s use tax certificate, report your use tax on your sales and use tax return, Form ST-12. Otherwise, complete and file Form UT-5 to report use tax. For more information on use tax, visit the department’s web site at revenue.wi.gov/html/sales.html, call (608) 266-2776, email [email protected], or write to the Wisconsin Department of Revenue, Mail Stop 3-107, PO Box 8946, Madison, WI 53708-8946. Conformity with Internal Revenue Code and Exceptions The Wisconsin income and franchise tax law applicable is based on the federal Internal Revenue Code (IRC). The IRC generally applies for Wisconsin purposes at the same time as for federal purposes. For taxable years beginning on or after January 1, 2018, Wisconsin's definition of the IRC is the IRC as of December 31, 2017 with exceptions. Below is a listing of the exceptions. Note: The exceptions and provisions adopted by Wisconsin listed below are those in effect as of the publication date of these instructions. It is possible that subsequent changes in Wisconsin law may add or eliminate some exceptions applicable to taxable years beginning in 2019. Provisions of the Internal Revenue Code Not Adopted by Wisconsin: • Section 13113 of P.L. 103-66, which created sec. 1202 of the IRC effective for small business stock issued after August 10, 1993. • Sections 1, 3, 4, and 5 of P.L. 106-519, which repealed foreign sales corporation provisions and replaced with extraterritorial income provisions. • Sections 101, 102, and 422 of P.L. 108-357, which repealed the exclusion for extraterritorial income, domestic production activities deduction, and the creation of sec. 965 – incentives to reinvest foreign earnings in the U.S. • Sections 1310 and 1351 of P.L. 109-58, which provides for the modification to special rules for nuclear decommissioning costs, repeal of the limitation on contract research expenses paid so small businesses, universities, and federal laboratories. • Section 11146 of P.L. 109-59, the tax treatment of state ownership of railroad real estate investment trust. • Section 403(q) of P.L. 109-135, which provides incentives to reinvest foreign earnings from controlled foreign corporations in the U.S. • Section 513 of P.L.109-222, which repeals foreign sales corporation/extraterritorial income exclusion binding contract relief. • Sections 104 and 307 of P.L. 109-432, which increases the rates of the alternative incremental credit and provides a new alternative simplified credit and that gross income does not include an IRA distribution used to fund an HSA. IP-130 (R. 12-19) Instructions for 2019 Wisconsin Form 3 Page 9 • Sections 8233 and 8235 of P.L. 110-28, which created a special rule for banks required to change from the reserve method of accounting in becoming tax-option (S) corporations and the elimination of all earnings and profits attributable to pre-1983 years. • Section 11(e) and (g) of P.L. 110-172, which provides clerical amendments to research credits for controlled corporations and common control, and clerical amendments to the FSC Repeal and Extraterritorial Income Exclusion Act of 2000. • Section 301 of P.L. 110-245, which provides for tax responsibilities of expatriation. • Section 15351 of P.L. 110-246, limits the amount of farm losses that may offset non-farming business income to $300,000. • Section 302 of division A, section 401 of division B, and sections 312, 322, 502(c), 707, and 801 of division C of P.L. 110-343, which limits executive compensation for employers participating in troubled assets relief program for the taxable year in which the troubled assets exceed $300,000,000. Caps the domestic production activities deduction at 6% for oil-related activities. The deduction for income attributable to domestic production activities in Puerto Rico applies to the first 8 taxable years beginning before January 1, 2010. Tax incentives for investment in the District of Columbia includes exclusion for gain on sale of an asset held from more than 5 years. Defines wages for purposes of the domestic production activities deduction. Creates sec. 198A to provide for expensing of disaster expenses for control of hazardous substances. Specifies treatment of nonqualified deferred compensation plans maintained by foreign corporations. • Sections 1232, 1241, 1251, 1501, and 1502 of division B of P.L. 111-5, which suspends the special rules for original issue discount on high yield obligations issued during the period 9/1/2008 and 12/31/2009. Allows a 75% exclusion for small business stock issued between 1/17/2009 and 12/31/2009. Provides that no built-in-gain tax is imposed on a tax-option (S) Corporation for a taxable year beginning in 2009 and 2010 if the seventh taxable year in the corporation's recognition period preceded such taxable year. Tax-exempt obligations held by financial institutions, in an amount not to exceed 2 percent of the adjusted basis of the financial institution's assets, are not taken into account for determining the portion of the financial institutions interest expense subject to the pro rata interest disallowance rule of sec. 265(b). Modification of the small insurer exception to tax-exempt interest expense allocation rules for financial institutions. • Sections 211, 212, 213, 214, and 216 of P.L. 111-226, which adopts a matching rule to prevent the separation of foreign taxes from the associated foreign income, denies a foreign tax credit for the disqualified portion of any foreign income tax paid in connection with a covered asset acquisition, provides a separate application of foreign tax credit limitation to items resourced under treaties, limits the amount of foreign taxes deemed paid with respect to sec. 956 inclusions, treats a foreign corporation as a member of an affiliated group for interest allocation and apportionment purposes in more than 50% of gross income is effectively connected income and at least 80% of either the vote or value of all outstanding stock is owned directly or indirectly by members of the affiliated group. • Sections 2011 and 2122 of P.L. 111-240, which provides a 100% exclusion for the gain on the sale of small business stock acquired after 9/27/2010 and before 1/1/2011, and clarifies the income sourcing rules for guarantee fees. • Sections 753, 754, and 760 of P.L. 111-312, which excludes 60% of the gain on the sale of small business stock in an empowerment zone business to gain attributable to periods before 1/1/2016, specifies that gross income does not include gain on stock acquired before 1/1/2012 and held for more than 5 years, and excludes the gain on sale of small business stock acquired in 2011. • Section 1106 of P.L. 112-95, which allows airline employees to contribute airline payment amounts under a bankruptcy claim to a traditional IRA as a rollover contribution. • Sections 104, 318, 322, 323, 324, 326, 327, and 411 of P.L. 112-240, which makes the alternative minimum tax exemption permanent and indexed for inflation, extends through 2013 the deduction with respect to income attributable to domestic production activities in Puerto Rico, extends the subpart F exception for active financing income, extends the look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company, provides 100% exclusion for gain on small business stock acquired in 2012 and 2013, extends through 2013 the reduction in tax-option (S) Corporation built-in gains tax and clarifies treatment of installment sales, provides a 60% exclusion for gain on small business stock acquired before 2019, and extends through 2013 the rules that allow gain certain sales of electric transmission property to be recognized ratably over 8 taxable years. • Section 2 of P.L. 114-7, relating to contributions for relief of slain New York Police Detectives. IP-130 (R. 12-19) Instructions for 2019 Wisconsin Form 3 Page 10 • Section 1101 of P.L. 114-74 relating to partnership rules. • Section 305 of division P of P.L. 114-113, relating to the transportation costs of independent refiners. • Sections 123, 125-128, 143, 144, 151-153, 165-167, 169-171, 189, 191, 307, 326, and 411 of division Q of P.L. 114-113: o Section 123, relating to extension of 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements. o Section 125, relating to the extension of treatment of certain dividends of regulated investment companies. o Section 127, relating to the extension of reduction in S-corporation recognition period for built-in gains tax. o Section 126, relating to the extension of exclusion of 100 percent of gain on certain small business stock. o Section 128, relating to the extension of subpart F exception for active financing income. o Section 144, relating to the extension of look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company rules. o Section 151, relating to the extension and modification of exclusion from gross income of discharge of qualified principal residence indebtedness. o Section 152, relating to the extension of mortgage insurance premiums treated as qualified residence interest. o Section 153, relating to the extension of above-the-line deduction for qualified tuition and related expenses. o o Section 165, relating to the extension of classification of certain race horses as 3-year property. o Section 166, relating to the extension of 7-year recovery period for motorsports entertainment complexes. o Section 167, relating to the extension and modification of accelerated depreciation for business property on an Indian reservation. o Section 169, relating to the extension of special expensing rules for certain film and television productions; special expensing for live theatrical productions. o Section 170, relating to the extension of deduction allowable with respect to income attributable to domestic production activities in Puerto Rico. o • Section 143, relating to the extension and modification of bonus depreciation. Section 171, relating to the extension and modification of empowerment zone tax incentives. o Section 189, relating to the extension of special allowance for second generation biofuel plant property. o Section 191, relating to the extension of special rule for sales or dispositions to implement FERC or State electric restructuring policy for qualified electric utilities. o Section 307, relating to the technical amendment relating to rollover of certain airline payment amounts. o Section 326, relating to the dividends derived from RICs and REITs ineligible for deduction for United States source portion of dividends from certain foreign corporations. o Section 411, relating to the partnership audit rules. o Section 11011, relating to the 20% deduction for domestic qualified business income. Sections 11011, 11012, 13201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601, 13801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215, 14221, 14222, 14301, 14302, 14304, and 14401 of P.L. 115−97: o Section 11012, relating to the limitation on losses for taxpayers other than corporations. o Section 13201 (a) to (e) and (g), relating to the temporary 100% expensing for certain business assets (bonus depreciation). o Section 13206, relating to the amortization of research and experimental expenditures beginning in 2022. o Section 13221, relating to special rules for the taxable year of inclusion. o Section 13304(a), (b), and (d) relating to the limit on the deduction by employers of fringe benefits (meals, entertainment, and transportation). o Section 13301, relating to the 30% taxable income limitation for the deduction of interest. IP-130 (R. 12-19) Instructions for 2019 Wisconsin Form 3 o Page 11 Section 13531, relating to the limitation on deductions for FDIC premiums. o Section 13601, relating to the modification of the limitation on excessive employee remuneration. o Section 13801, relating to the production period for beer, wine, and distilled spirits. o Section 14101, relating to the deduction for the foreign-source portion of dividends received by domestic corporations from specified 10% owned foreign corporations. o Section 14102, relating to the special rules for sale or transfers involving specified 10% owned foreign corporations. o Section 14103, relating to the treatment of deferred foreign income upon transition to a participation exemption system of taxation. o Section 14201, relating to the current year global intangible low-taxed income by U.S. shareholders. o Section 14202, relating to the deduction for foreign derived intangible income and global intangible low-taxed income. o Section 14211, relating to the elimination of the inclusion of foreign base company oil related income. o Section 14212, relating to the repeal of the inclusion based on withdrawal of previously excluded subpart F income from qualified investment. o Section 14213, relating to the modification of stock attribution rules for determining the status as a controlled foreign corporation. o Section 14214, relating to the modification of the definition of a U.S. shareholder. o Section 14215, relating to the elimination of the requirement that a corporation must be controlled for 30 days before the subpart F inclusions apply. o Section 14221, relating to the limitations on income shifting through intangible property transfers. o Section 14222, relating to certain related party amounts paid or accrued in hybrid transactions or with hybrid entities. o Section 14301, relating to the repeal of section 902 – indirect foreign tax credits, and determination of the deemed paid credit for subpart F inclusions under sec. 960 on a current year basis. o Section 14302, relating to the separate foreign tax credit limitation basket for foreign branch income. o Section 14304, relating to the election to increase the percentage of domestic taxable income offset by the overall domestic loss treated as foreign source. o Section 14401, relating to the base erosion anti-abuse tax. Other Exceptions to Internal Revenue Code The following federal provisions in effect as of December 31, 2017, are specifically excluded for Wisconsin franchise and income tax purposes: Depreciation and Bonus Depreciation For taxable years beginning on or after January 1, 2014, for purposes of computing depreciation, depletion, and amortization, the Internal Revenue Code means the federal Internal Revenue Code in effect on January 1, 2014. For 2014 and beyond, bonus depreciation was reinstituted by the federal government, and an adjustment is required to account for the depreciation difference because Wisconsin has not adopted federal bonus depreciation provisions. For Wisconsin purposes, depreciation, depletion, and amortization is computed based on the Internal Revenue Code in effect on January 1, 2014, and bonus depreciation was not in effect on that date. The provision that property required to be depreciated for taxable year 1986 under the Internal Revenue Code as amended to December 31, 1980, to continue to be depreciated under the Internal Revenue Code as amended to December 31, 1980, is limited to taxable years beginning before January 1, 2014. IP-130 (R. 12-19) Instructions for 2019 Wisconsin Form 3 Page 12 Wisconsin has not adopted federal bonus depreciation provisions For Wisconsin purposes, depreciation, depletion, and amortization is computed based on the Internal Revenue Code in effect on January 1, 2014. Bonus depreciation was not in effect on January 1, 2014. Section 179 Expense For taxable years beginning on or after January 1, 2014, sections 179, 179A, 179B, 179C, 179D, and 179E of the Internal Revenue Code, related to expensing of depreciable business assets, apply for Wisconsin tax purposes. "Internal Revenue Code" means the federal Internal Revenue Code in effect for the year in which the property is placed in service. How to Report Differences You must report any differences between federal income and income for Wisconsin purposes in Schedule 3K, column c. For differences relating to depreciation and amortization, you must prepare schedules detailing the differences between the federal and Wisconsin computations and submit them with your return. Specific Instructions for Form 3 If you are filing federal Form 1065-B with the Internal Revenue Service, special instructions apply which are not covered here. For the special instructions, go to the Common Questions on the Department of Revenue web site at revenue.wi.gov/Pages/FAQS/ise-pship.aspx#ps7 and click on question #7. Items A Through J Before completing items A through J, fill in the partnership’s 2019 taxable year at the top of the form and the partnership’s name and address. The name and address information should be written on single lines. Do not stack the information on the lines. If more room is needed, abbreviate where possible. Do not write "None" on the amount lines if there is not an entry for the lines. Instead, leave the lines blank. ■ Federal Employer Identification Number – Enter the partnership’s federal employer identification number (FEIN). ■ Business Activity (NAICS) Code – Enter the partnership’s principal business activity code, based on the North American Industry Classification System (NAICS), from your federal return. ■ Number of Partners – Enter the total number of partners that the partnership had during the taxable year. ■ Number of Nonresident Partners – Enter the total number of nonresident partners that the partnership had during the taxable year, including individuals, estates, and trusts not domiciled in Wisconsin and other partnerships, limited liability companies, and corporations whose commercial domicile is not in Wisconsin. ■ State of Formation and Year – Enter the 2-letter postal abbreviation for the state (or name of the foreign country) under whose laws the partnership was organized and the year of formation. ■ A. Entity Type – Check the space indicating which type of entity is filing this return. If your entity is not one of the types listed, check the space next to “Other” and indicate the type of entity. ■ B. Extended Due Date – If the partnership has an extension of time to file its Wisconsin return, check here and enter the extended due date. Disaster Relief Extension. If you are filing under extension because of a federal or state disaster, include a statement indicating which disaster extension you are using and attach it to your return. Additional information on disaster areas can be found here: revenue.wi.gov/Pages/Businesses/Disaster-Tax-Assistance.aspx IP-130 (R. 12-19) Instructions for 2019 Wisconsin Form 3 Page 13 ■ C. Amended Return – If this is an amended return, check here. Include Schedule AR to explain the changes made, and include any supporting forms or schedules. ■ D. Filing Form 1CNP – Check here if the partnership is filing a composite Wisconsin individual income tax return, (Form 1CNP) on behalf of its qualified and participating nonresident partners. ■ E. Schedule RT Required – Check here if the partnership is filing Schedule RT, Wisconsin Related Entity Expenses Disclosure Statement, with its return. Schedule RT is generally required if the partnership pays, accrues, or incurs more than $100,000 of expenses to a related person or entity in the taxable year. See the Schedule RT instructions for details of the requirement to file Schedule RT. ■ F. Partnership Formation – Check here if the partnership is filing its first partnership return. ■ G. Partnership Termination – Check here if the partnership terminated during the taxable year and is filing its final return. Note: checking this box will not close all your accounts with the department; only the partnership account will close. ■ H. Disregarded Entities – Check here if the partnership is the sole owner of any disregarded entities. A singlemember LLC that is disregarded for federal income tax purposes is also disregarded for Wisconsin franchise or income tax purposes. You must include the income of any disregarded entities owned by the partnership in the partnership's amounts on Schedule 3K. Include with your return Schedule DE, which lists the partnership's solelyowned LLCs. ■ I. Election to Pay Tax at the Entity Level – Check here to indicate the election was made to pay tax at the entity level and complete Schedule 3-ET, Entity-Level Tax Computation. For additional information detailing the entityrevenue.wi.gov/Pages/FAQS/iselevel tax, see Common Questions on the department's website at passthroughpartnr.aspx. ■ J. Election to Pay Tax at the Entity Level Was Made by Lower-Tier Entity – Check here if you are a member of a multi-tier pass-through entity structure and any of your lower-tier entities made an election under sec. 71.21(6)(a), Wis. Stats., to pay tax at the entity level. New New A lower-tier entity is a pass-through entity that is directly or indirectly owned by the partnership. If one or more of your lower-tiered entities made an election to pay tax at the entity level and you are not making the election to pay tax at the entity level, you must provide each partner a supplemental statement with the Schedule 3K-1 detailing the amount of the partner's items of income, gain, loss, and deduction that have been taxed by a lower-tier entity. Part I – Calculation of Tax Due or Refund ■ Line 1. Partnership Entity-Level Tax – Partnerships that make the election to pay tax at the entity level must complete Schedule 3-ET, Entity-Level Tax Computation, and include the amount of tax from Schedule 3-ET, line 21 on Form 3, line 1. See Schedule 3-ET instructions for information detailing how the electing partnership determines income at the entity level and computes the entity-level tax. New ■ Line 2. Amended Return - Amount Previously Refunded - Complete this line only if this is an amended 2019 Form 3. Fill in the refund from your original 2019 return. If your refund was reduced because you owed underpayment interest or any penalties, fill in the amount of your refund before the reduction for underpayment interest or penalty. If your 2019 return was adjusted by the department, fill in the refund shown on the adjustment notice you received. ■ Line 3. Interest, Penalty, and Late Fee Due - Enter any interest due from Schedule U, line 15 or 29. Amended Return: If you previously were assessed interest for underpayment of estimated taxes, complete an amended Schedule U, based on the total amount shown on the amended Form 3, line 1. Enter the difference between the underpayment interest from the amended Schedule U and the original Schedule U. Show an overpayment as a negative number. Enclose Schedule U with your amended return. IP-130 (R. 12-19) New Instructions for 2019 Wisconsin Form 3 Page 14 If you don’t timely file a franchise or income tax return that you are required to file, or if you file an incorrect return due to negligence or fraud, interest, penalties, and late fees may be assessed against you. The interest rate on delinquent taxes is 18% per year. Civil penalties may be as much as 100% of the amount of tax not reported on the return. Criminal penalties for filing a false return include a fine of up to $10,000 and imprisonment. ■ Line 5. Wisconsin Tax Withheld – Enter the amount of Wisconsin income or franchise tax withheld on your behalf. Include documents (e.g. Form WT-11 or Schedule 3K-1) with your Form 3 to substantiate the withholding claimed on line 5. Form WT-11 Payments An entertainment partnership that made a deposit using Form WT-11 or had amounts withheld on its behalf by an employer using Form WT-11 may enter the deposit or withholding on line 5, or it may elect to allocate the deposit or withholding to its nonresident entertainer partners but only to the extent the income subject to withholding is allocated to those partners. For more information about allocating this withholding to your nonresident entertainer partners, see Form PW-1 and instructions. Withholding from Form W-2G If the partnership has Wisconsin withholding from lottery prizes or other gambling winnings, enter on line 5 the amount of Wisconsin withholding reported on Form W-2G for the partnership. Pass-Through Withholding A partnership that makes an election to pay tax at the entity level and has amounts withheld on its behalf by a lower-tier entity may enter the lower-tier withholding on line 5, provided the partnership does not report any amount of withholding to its partners on Schedules 3K-1. New CAUTION: Do not include any deposit or withholding on line 5 that is passed through to your partners on Schedules 3K-1. ■ Line 6. Estimated Tax Payments – Enter estimated tax payments made, and overpayment applied from the prior year’s return, minus any “quick re-fund” applied for on Form 4466W, Wisconsin Corporation or Pass-Through Entity Application for Quick Refund of Overpayment of Estimated. New ■ Line 7. Amended Return - Amount Previously Paid - Complete this line only if this is an amended 2019 Form 3. Fill in the amount of tax you paid with your original Form 3 plus any additional amounts paid after it was filed. If you did not pay the full amount shown on your original Form 3, fill in only the portion that you actually paid. Also, include any additional tax that may have resulted if your original return was changed or audited. This includes additional tax paid with a previously filed 2019 amended return and additional tax paid as a result of a department adjustment to your return. Do not include payments of interest or penalties. ■ Line 9. Amount Due - If line 4 is larger than line 8, enter the amount owed. Pay via EFT through My Tax Account, the department's free online business tax system, or mail your check with a 2019 Form 3-EPV, Wisconsin Partnership Electronic Payment Voucher, to the address shown on the voucher. Otherwise, paper clip your check to the front of Form 3 if filing by paper and you have an approved electronic filing waiver attached to the return. ■ Lines 13 and 14. Wisconsin Property and Total Company Property – Enter the total amount of the company’s real and tangible property located in Wisconsin and the company’s total amount of real and tangible property everywhere. Use the cost basis of the property at the end of the year. Include the following types of property: • Land • Buildings • Furniture and Fixtures • Transportation equipment • Machinery and other equipment • Inventories Include only property that is owned by the partnership; you do not need to include property you are renting. IP-130 (R. 12-19) New Instructions for 2019 Wisconsin Form 3 Page 15 ■ Lines 15 and 16. Wisconsin Payroll – Wisconsin Payroll and Total Company Payroll – Enter the total amount of the company’s payroll located in Wisconsin and the company’s total amount of payroll everywhere. Include only amounts attributable to employees of the partnership. In the computation of payroll located in Wisconsin, include individuals that satisfy one or more of the following: • The individual’s service is performed entirely in Wisconsin. • The individual’s service is performed in and outside Wisconsin, but the service performed outside Wisconsin is incidental to the individual’s service in Wisconsin. • A portion of the individual’s service is performed in Wisconsin and the base of operations of the individual is in Wisconsin. • A portion of the individual’s service is performed in Wisconsin and, if there is no base of operations, the place from which the individual’s service is directed or controlled is in Wisconsin. • A portion of the individual’s service is performed in Wisconsin and neither the base of operations of the individual nor the place from which the service is directed or controlled is in any state in which some part of the service is performed, but the individual’s residence is in Wisconsin. ■ Lines 17 and 18. Wisconsin Sales and Total Company Sales– Enter the amount of your Wisconsin sales. If not apportioning income, enter your total company sales. If apportioning income, enter your Wisconsin sales from the apportionment schedule used, Schedule A-01 through A-11. For purposes of the sales factor, sales include, but aren’t limited to, the following items related to the production of apportionable income: • Gross receipts from the sale of inventory. • Gross receipts from the operation of farms, mines, and quarries. • Gross receipts from the sale of scrap or by-products. • Gross commissions. • Gross receipts from personal and other services. • Gross rents from real property or tangible personal property. • Interest on trade accounts and trade notes receivable. • A member’s share of a limited liability company’s gross receipts or a partner’s share of a partnership’s gross receipts. • Gross management fees. • Gross royalties from income producing activities. • Gross franchise fees from income producing activities. “Gross receipts” means gross sales less returns and allowances, plus service charges, freight, carrying charges, or time-price differential charges incidental to the sales. Federal and state excise taxes, including sales and use taxes, are included as part of the receipts if the taxes are passed on to the buyer or included as part of the selling price. ■ Line 19. Wisconsin Apportionment Percentage – If the partnership is not using apportionment, enter “100.0000%” on line 19 and check the 100% apportionment box. If the partnership is using apportionment, enter the apportionment schedule used and the apportionment percentage, as appropriate. For example, a partnership using Schedule A-01, Wisconsin Single Sales Factor Apportionment Data for Nonspecialized Industries, with a Wisconsin apportionment percentage of 25% enters "01" and "25.0000%" in the space provided. ■ Line 20. Reportable Transaction Disclosure Statement – If a partnership was required to include any form with its federal tax return to disclose a “reportable transaction,” as defined under sec. 71.81(1)(c), Wis. Stats., it must file a copy of that form with the Department of Revenue within 60 days of the date it is required to file it for federal income tax purposes, provided that it is otherwise required to file a Wisconsin return. This includes federal Form 8886, Reportable Transaction Disclosure Statement. IP-130 (R. 12-19) New Instructions for 2019 Wisconsin Form 3 Page 16 Submit the form(s) with your return or send a paper copy of the form(s), separate from your Form 3, to the following address: Wisconsin Department of Revenue, Tax Shelters Program, PO Box 8958, Madison, WI 53708-8958. ■ Line 21. Use Tax – Tangible personal property, certain coins and stamps, certain leased properties affixed to real estate, certain digital goods, and selected services, taxable under Wisconsin’s sales tax law, which are stored, used, or consumed in Wisconsin, are subject to use tax if the proper sales tax is not paid. Part II - Schedule 3K – Partners’ Distributive Share Items Schedule 3K, Columns (b) Through (d) Schedule 3K is a summary schedule of all the partners’ shares of the partnership’s income, deductions, credits, etc., as computed under Wisconsin law, similar to federal Schedule K. ■ Column b. Federal Amount – Enter the applicable amounts from federal Schedule K in column b of Schedule 3K. For dividends and the net long-term capital gain (loss) items reported on lines 6 and 9, use the totals from federal Schedule K. ■ Column c. Adjustment – Enter in column c any adjustments to the federal amount necessary to arrive at the amount under Wisconsin law. Use Schedule 3K – Partners' Share of Additions and Subtractions on page 5 of Form 3 to account for the additions and subtractions. See the instructions for additional details. However, note the following: • Do not exclude a nonresident or part-year resident partner’s share of partnership items that are attributable to business transacted outside Wisconsin, services performed outside Wisconsin, or real or tangible personal property located outside Wisconsin. These adjustments will be made on the Schedule 3K-1 of each affected partner, as described later in the specific instructions for Schedule 3K-1. • Do not make any adjustments on Schedule 3K (or on Schedule 3K-1) for an individual, estate, or trust partner’s capital gain deduction or capital loss limitation. Instead, each partner will compute its own capital gain deduction or loss limitation on Wisconsin Schedule WD. For any adjustments you enter in column c, you must prepare Schedule 3K – Partners' Share of Additions and Subtractions on page 5 of Form 3 to account for the additions and subtractions and submit it with your return. See the section that follows for examples of the adjustments that you are required to enter in column c. ■ Column d. Wisconsin Amount – Combine the amount in column b with any adjustment in column c and enter the result in column d. Adjustments Reportable on Schedule 3K, Column c You must make adjustments on Schedule 3K, column c in the following situations: When a Provision of Federal Law Doesn’t Apply for Wisconsin Purposes. You must make an adjustment if an amount in column b is computed under a provision of the IRC that was not adopted for Wisconsin purposes, as described earlier in these instructions (e.g. bonus depreciation has not been adopted by Wisconsin). For gains and losses on sales of depreciable or amortizable assets, you will need to compute an adjustment amount in cases where your asset basis for federal purposes was different than your asset basis for Wisconsin purposes due to differences in depreciation and amortization. These adjustments are often called “Schedule I adjustments” because individuals must report them on Wisconsin Schedule I. Identify the adjustments and provide that information to the individual partners on Schedule 3K-1. IP-130 (R. 12-19) Instructions for 2019 Wisconsin Form 3 Page 17 Adjustments required because different elections are made for federal and Wisconsin purposes. Examples of different elections include the following: • For property placed in service after December 31, 1982, a taxpayer that claimed investment tax c
Extracted from PDF file 2019-wisconsin-form-3.pdf, last modified December 2019

More about the Wisconsin Form 3 Corporate Income Tax Tax Return TY 2019

We last updated the Form 3 Partnership Return in March 2020, so this is the latest version of Form 3, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 3 directly from TaxFormFinder. You can print other Wisconsin tax forms here.

Related Wisconsin Corporate Income Tax Forms:

TaxFormFinder has an additional 88 Wisconsin income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Wisconsin Form 3.

Form Code Form Name
Schedule 3K-1 Partner's Share of Income, Deductions, Credits, etc

Download all WI tax forms View all 89 Wisconsin Income Tax Forms


Form Sources:

Wisconsin usually releases forms for the current tax year between January and April. We last updated Wisconsin Form 3 from the Department of Revenue in March 2020.

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Form 3 is a Wisconsin Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Wisconsin Form 3

We have a total of eight past-year versions of Form 3 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form 3

2019 IP-130 Instructions for 2019 Wisconsin Form 3

2018 Form 3

2018 Form 3 Wisconsin Partnership Return

2017 Form 3

2017 Form 3 Wisconsin Partnership Return

2016 Form 3

2016 Form 3 Wisconsin Partnership Return

Form 3 Partnership Return 2015 Form 3

2015 IP-030 Form 3 Wisconsin Partnershp Return (fillable)

Wisconsin Partnership Return | Instructions | Fill-In Form 2013 Form 3

2013 IP-030 Form 3 Wisconsin Partnershp Return (fillable)

2012 Form 3

2012 IP-030 Form 3 Wisconsin Partnershp and Economic Development Surcharge Return

Form 3 2011 2011 Form 3

2011 Form 3 - Wisconsin Partnership & Recycling Surcharge Return (pdf fillable format)


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