Chapter 72, ESTATE TAX
19 sections in this chapter.
Wis. Stat. § 72.005 Purpose
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72.005 Purpose. The purpose of this chapter is to obtain for Wisconsin the benefit of the maximum credit allowable upon the United States estate tax, to the full extent that this state may be entitled, by imposing this tax. This chapter is to be liberally construed to effect this…
Wis. Stat. § 72.01 Definitions
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72.01 Definitions. In this chapter, unless otherwise specified: (1) “Administration” means any proceeding relating to a decedent’s estate whether decedent died testate or intestate. (4) “Circuit court” means the circuit court which has jurisdiction under s. 72.27. (6) “Death tax”…
Wis. Stat. § 72.02 Estate tax imposed
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72.02 Estate tax imposed. An estate tax is imposed upon the transfer of all property that is subject to a federal estate tax and that has a taxable situs in this state. The tax imposed is equal to the federal credit against the federal estate tax as finally determined. If only a …
Wis. Stat. § 72.03 Notice
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72.03 Notice. Unless otherwise provided, where “notice” is required in this chapter it shall be given in the manner prescribed by s. 879.05. History: 1971 c. 310.
Wis. Stat. § 72.045 Timely filing
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72.045 Timely filing. Documents and payments required or permitted by this chapter that are filed by mail are on time if they are mailed in a properly addressed envelope, if the postage is paid, if the envelope is postmarked before midnight of the due date and if the department o…
Wis. Stat. § 72.06 Confidentiality of tax returns
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72.06 Confidentiality of tax returns. Sections 71.78 (1), (1g), (1m), and (4) to (9) and 71.83 (2) (a) 3. and 3m. apply to any information obtained from any person by the department on a death tax return, report, schedule, exhibit or other document or from an audit report pertain…
Wis. Stat. § 72.11 Subjects liable
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72.11 Subjects liable. (1) RESIDENTS AND NONRESIDENTS. A tax is imposed upon any transfer of property to any distributee in the following cases: (a) When the transfer is from a person who dies while a resident of this state. (b) When the transfer is of property within the jurisdi…
Wis. Stat. § 72.21 Personal liability
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72.21 Personal liability. (1) Each personal representative, special administrator, and trustee of a trust in existence and containing property on the date of the decedent’s death, is severally liable for the tax imposed by this chapter, with interest, to the extent of the clear m…
Wis. Stat. § 72.22 Payment
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72.22 Payment. (1) WHEN PAYABLE. Except as provided in s. 72.225, the tax imposed by this chapter shall be paid on the date 9 months after the decedent’s death. (2) ADVANCE PAYMENT. Anyone personally liable for a tax under this chapter may pay an estimated tax before the tax is d…
Wis. Stat. § 72.225 Installment payments; closely held businesses
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72.225 Installment payments; closely held businesses. (1) If a percentage of the federal tax on an estate may be paid in installments under section 6166 of the internal revenue code, the same percentage of the taxes under this chapter may be paid under the same installment schedu…
Wis. Stat. § 72.23 Acceleration and interest
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72.23 Acceleration and interest. (1) If the tax imposed by this chapter is not paid when it is due under s. 72.22, interest is due and payable at the rate of 12 percent per year from date of death. In computing time under this section, the day of death is excluded. If any payment…
Wis. Stat. § 72.235 Failure to file
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72.235 Failure to file. Any person who fails to file a return by the date under s. 72.30 (1) is subject to a penalty of 5 percent of the tax due under s. 72.02 but not less than $25 nor more than $500. History: 1991 a. 39.
Wis. Stat. § 72.24 Refunding
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72.24 Refunding. Whenever any amount has been paid in excess of the tax determined, the secretary of administration, upon certification by the department or circuit court, shall refund the excess to the payor or other person entitled thereto. History: 1971 c. 310; 1973 c. 90; 197…
Wis. Stat. § 72.27 Jurisdiction of circuit court
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72.27 Jurisdiction of circuit court. (1) RESIDENTS. The circuit court for the county of which the decedent died a resident has jurisdiction to hear and determine all questions arising under this chapter and to do any act authorized by a circuit court in other matters or proceedin…
Wis. Stat. § 72.30 Determination of tax
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72.30 Determination of tax. 72.30(1)(1) Filing requirements. 72.30(1)(a)(a) Except as provided in par. (b), if a federal estate tax return is required, the personal representative, special administrator, trustee, distributee or other person interested shall prepare the return for…
Wis. Stat. § 72.33 Adjustments
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72.33 Adjustments. (2) A person who is entitled to a refund of the federal estate tax or liable for additional payments of that tax shall, within 30 days after receiving notice of that fact, do the following: (a) Submit to the department copies of any additional papers or support…
Wis. Stat. § 72.34 Notice of obligations
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72.34 Notice of obligations. Every person liable for transmitting to the estate or a beneficiary of a deceased employee or former employee an annuity, bonus, pension or other benefit under a retirement, deferred compensation or profit-sharing plan taxable under this chapter, dire…
Wis. Stat. § 72.35 Interstate arbitration of death taxes
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72.35 Interstate arbitration of death taxes. 72.35(1)(1) Arbitration agreement. When the department and the taxing authority of another state each claim that a decedent was a resident of its state on the date of the decedent’s death, the department may make a written agreement wi…
Wis. Stat. § 72.36 Sunset
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72.36 Sunset. The tax imposed under this chapter does not apply to deaths occurring after December 31, 2012, unless the federal estate tax law is modified to provide a federal estate tax credit for state death taxes. History: 2013 a. 20.