Section
71.07 (5h) (a) 1.
to
4.
, Stats., reads as follows:
Microsoft Windows NT 6.1.7601 Service Pack 1
"1. "Claimant" means a person who files a claim under this subsection and who does business in this state as a film production company.
Microsoft Windows NT 6.1.7601 Service Pack 1
2. "Film production company" means an entity that exclusively creates accredited productions, as defined in sub. (5f) (a) 1.
Microsoft Windows NT 6.1.7601 Service Pack 1
3. "Physical work" does not include preliminary activities such as planning, designing, securing financing, researching, developing specifications, or stabilizing property to prevent deterioration.
Microsoft Windows NT 6.1.7601 Service Pack 1
4. "Previously owned property" means real property that the claimant or a related person owned during the 2 years prior to doing business in this state as a film production company and for which the claimant may not deduct a loss from the sale of the property to, or an exchange of the property with, the related person under section
267
of the Internal Revenue Code, except that section
267
of the Internal Revenue Code is modified so that if the claimant owns any part of the property, rather than 50 percent ownership, the claimant is subject to section
267
of the Internal Revenue Code for purposes of this subsection."
Microsoft Windows NT 6.1.7601 Service Pack 1
