Instructions For 2015 Form 6i: Wisconsin Adjustments For Insurance Companies
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4Instructions for 2015 Form 6I:
Wisconsin Adjustments for Insurance Companies
■ Line 3. Deduction for Discounting Unpaid
Purpose of Form 6I
Losses – Enter any deduction under section 847 of
When a corporation computes its Wisconsin franchise
the Internal Revenue Code that was claimed in com-
or income tax liability, certain aspects of its tax com-
puting the federal taxable income you reported for the
putation are different if the corporation is an insurance
insurance company on Form 6, line 1.
company. Subchapter VII of chapter 71 of the Wiscon-
■ Line 4. Total – Include the amount from line 4 in the
sin Statutes provides for these differences.
amount on Form 6, Part II, line 2i.
Whether or not a corporation is an insurance com-
pany, it uses Form 6 to compute its Wisconsin fran-
chise or income tax liability under combined reporting.
The purpose of Form 6I is to account for adjustments
Part II: Nontaxable Income from
an insurance company must make so the amounts on
Life Insurance Operations
Form 6 reflect the corporation’s status as an insurance
company.
This is where you compute the nontaxable income
from life insurance operations. This amount is carried
Enter the information for each member in a separate
forward to Form 6, Part II, line 4.
column. If there are more than three members, use ad-
■ Line 5. Federal Taxable Income –Enter the amount
ditional Forms 6I. For example, if there are seven
members in the combined group, enter members one
included in Form 6, Part II, line 1, that is attributable to
through three on Form 6I (do not complete the com-
the insurance company.
bined total column yet). Next, enter members four
through six on an additional Form 6I (do not complete
If this is a combined return and the insurance company
the combined total column yet). Finally, complete a
has a net capital gain reportable on Form N, Wisconsin
new Form 6I for the seventh and final member. Com-
Nonapportionable and Separately Apportionable In-
plete the combined total column on the last Form 6I for
come, add that net capital gain to the amount from
all group members.
Form 6, Part II, line 1 and enter the total on line 5 of
Form 6I.
Line-by-Line Instructions
■ Line 6. Total Addition Modifications – Enter the
company’s total Wisconsin addition modifications. for
These instructions are presented in the order the lines
the portion of the amount on Form 6, Part II, line 2k
appear on Form 6I:
that is attributable to the insurance company.
■ Line 8. Subtraction Modifications – Add the por-
tion of the amounts on Form 6, Part II, lines 4a through
Part I: Additions Specific to Insurance Companies
4l plus line 4m-e that is attributable to the insurance
company and enter the total.
This is where you compute Wisconsin addition
modifications that are unique to insurance companies
NOTE: To complete lines 10a and 10b, refer to the
so you can include them on Form 6, Part II, line 2i.
Annual
Statement
adopted
by
the
National
■ Line 1. Loss Carryforward – Enter the insurance
Association of Insurance Commissioners for the year
company’s loss carryforward, including any capital
2015, as filed with the Commissioner of Insurance of
the State of Wisconsin. For life and accident and
loss carryforward previously deducted for Wisconsin,
health insurance companies, refer to the Summary
that was deducted in computing the federal taxable in-
of Operations, Analysis of Operations by Lines of
come you reported on Form 6, line 1.
Business.
■ Line 2. Dividend Income – Enter the insurance
company’s dividend income received during the taxa-
■ Line 10a. Net Gain From Operations, Other than
ble year to the extent the dividends were deducted
Life Insurance – Include income from the following
from, or not included in, the federal taxable income you
sources:
reported on Form 6, line 1.
IC-502
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