Wisconsin § 71.125 - Imposition of tax.
Full text of Wisconsin Wisconsin Statutes § 71.125 — Imposition of tax., with citation guidance and answers to common questions.
§ 71.125. Imposition of tax.
71.125(1) (1) Except as provided in sub. (2) , the tax imposed by this chapter on individuals and the rates under s. 71.06 (1q) , (1r) , and (2) shall apply to the Wisconsin taxable income of estates or trusts, except nuclear decommissioning trust or reserve funds, and that tax shall be paid by the fiduciary. Effective date note NOTE: Sub. (1) is amended eff. 1-1-31 by 2025 Wis. Act 118 , section 212 , to read: Effective date text (1) Except as provided in sub. (2), the tax imposed by this chapter on individuals and the rates under s. 71.06 (1r) and (2) shall apply to the Wisconsin taxable income of estates or trusts, except nuclear decommissioning trust or reserve funds, and that tax shall be paid by the fiduciary. 71.125(2) (2) Each electing small business trust, as defined in section 1361 (e) (1) of the Internal Revenue Code, is subject to tax at the highest rate under s. 71.06 (1q) or (1r) , whichever taxable year is applicable, on its income as computed under section 641 of the Internal Revenue Code, as modified by s. 71.05 (6) to (12) , (19) and (20) . Effective date note NOTE: Sub. (2) is amended eff. 1-1-31 by 2025 Wis. Act 118 , section 214 , to read: Effective date text (2) Each electing small business trust, as defined in section 1361 (e) (1) of the Internal Revenue Code, is subject to tax at the highest rate under s. 71.06 (1r) on its income as computed under section 641 of the Internal Revenue Code, as modified by s. 71.05 (6) to (12), (19) and (20). 71.125 History History: 1987 a. 312 ; 1997 a. 27 , 237 ; 1999 a. 9 ; 2013 a. 20 ; 2025 a. 15 , 118 .
Source: official Wisconsin text · Last verified 2026-08-27
Frequently Asked Questions About Wisconsin § 71.125
What does Wisconsin Statutes § 71.125 cover?
Section 71.125 ("Imposition of tax.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wisconsin § 71.125?
A common citation format is "Wisconsin Statutes § 71.125" (Wisconsin). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 71.125 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wisconsin.