71.42 Definitions.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

71.42 Definitions. In this subchapter:

(1b)“Aggregate effective tax rate” means the sum of the effective tax rates imposed by a state, U.S. possession, foreign country, or any combination thereof, on the person or entity.

(1g)“Corporation” means insurance corporations, insurance joint stock companies, insurance associations and insurance common law trusts, unless the context requires otherwise.

(1m)“Department” means the department of revenue.

(1s)“Effective tax rate” means the maximum tax rate imposed by the state, U.S. possession, or foreign country, multiplied by the apportionment percentage, if any, applicable to the person or entity under the laws of that state, U.S. possession, or foreign country.

(1sg)For purposes of ss. 71.45

(a)16. and 18. and 71.255

(d)1. , “intangible expenses” include the following, to the extent that the amounts would otherwise be deductible in computing net income under the Internal Revenue Code, as adjusted under s. 71.45

(2):

(a)Expenses, losses, and costs for, related to, or directly or indirectly in connection with the acquisition, use, maintenance, management, ownership, sale, exchange, or any other disposition of intangible property.