Schedule Cg - Income Tax Deferral Of Long-Term Capital Gain - 2015
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Schedule
Income Tax Deferral of
CG
2015
Long-Term Capital Gain
Wisconsin
Department of Revenue
Enclose with Wisconsin Form 1 or 1NPR
Your name
Your social security number
Spouse’s name if filing a joint return
Spouse’s social security number
1 Date asset sold that generated the long-term capital gain . . . . . . . . . . . . . . . . . . . .
2 Description of asset sold
.00
3 Amount of long-term capital gain on sale of the asset . . . . . . . . . . . . . . . . . . . . . . . 3
4 Date of investment in a qualified Wisconsin business . . . . . . . . . . . . . . . . . . . . . . . .
4a Type of investment
Stock purchase
Partnership interest
LLC membership
(check one)
Other
(explain)
5 Fill in the name and FEIN of the qualified Wisconsin business
Entity Name
FEIN
6 Amount invested in the qualified Wisconsin business.
.00
(Line 6 must equal or exceed line 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
7 Basis of investment in the qualified Wisconsin business
(Line 6 less the amount on line 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
.00
Return to form
Instructions for Schedule CG
Purpose of Schedule CG
Definitions
Schedule CG must be completed by individuals who are not
“Long-term capital gain” means the gain realized from the
declaring income from a long-term capital gain on their 2015
sale of any capital asset held more than one year that is treated
Wisconsin income tax return (Schedule WD) because they
as a long-term gain under the Internal Revenue Code.
have reinvested the capital gain.
“Qualified Wisconsin business” means a business certified by
Wisconsin law provides that the long-term capital gain may be
the Wisconsin Economic Development Corporation (WEDC)
deferred when the gain is reinvested in a qualified Wisconsin
or registered with the Department of Revenue. The WEDC
business.
was responsible for certifying businesses for 2011 through
2013. The department’s registration program began in 2014.
Who may claim the deferral of gain
A business must register with the department in each year
in which it wants to be considered a qualified Wisconsin
The deferral of gain may be claimed by an individual,
business. A business may register with the department if:
including an individual partner of a partnership, member of
a limited liability company, or shareholder of a tax-option (S)
• The business has at least 2 full-time employees and the
corporation.
amount of payroll compensation paid by the business in
Wisconsin is equal to at least 50 percent of the amount of all
payroll paid by the business, and
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