Section 3.098. Railroad retirement supplemental annuities.

  Railroad retirement supplemental annuities paid under 45 USC 231m are exempt from the Wisconsin taxable income of their recipients.

History: Cr. Register, January, 1977, No. 253 , eff. 2-1-77; am. Register, July, 1989, No. 403 , eff. 8-1-89.

Note

1) The Railroad Retirement Act of 1974 as amended by P.L. 98-76 (45 USC s. 231m), effective August 12, 1983, provides that: Microsoft Windows NT 6.1.7601 Service Pack 1 "(a) Except as provided in subsection (b) of this section and the Internal Revenue Code of 1954 [26 USCS §§ 1 et seq.], notwithstanding any other law of the United States, or of any State . . . no annuity or supplemental annuity shall be . . . subject to any tax. . . . Microsoft Windows NT 6.1.7601 Service Pack 1 (b) (1) This section shall not operate to exclude the amount of any supplemental annuity paid to an individual under section (2) (b) of this Act [45 USCS § 231a (b)] from income taxable pursuant to Federal income tax provisions of the Internal Revenue Code of 1954 [26 USCS §§ 1 et seq.]" Microsoft Windows NT 6.1.7601 Service Pack 1 2) 45 USCS. s. 231m prohibits states from taxing railroad retirement supplemental annuity payments. Taxpayers may make a modification to federal adjusted gross income to remove this income in computing Wisconsin adjusted gross income. Microsoft Windows NT 6.1.7601 Service Pack 1 This section interprets s. 71.05 (6) (b) 3. , Stats. Microsoft Windows NT 6.1.7601 Service Pack 1