Section 76.29 - License fee for selling electricity at wholesale(1) DEFINITIONS. In this section:(a) "Apportionment factor" has the meaning given in s. 76.28(1) (a).(b) "Department" means the department of revenue.(c) "Electric cooperative" has the meaning given in s. 76.48(1g) (c).(d) "Gross revenues" means total revenues from the sale of electricity for resale by the purchaser of the electricity.(e) "Light, heat, and power companies" has the meaning given in s. 76.28(1) (e).(f) "Tax period" means each calendar year or portion of a calendar year.(2) IMPOSITION. There is imposed on every light, heat, and power company and electric cooperative that owns an electric utility plant, an annual license fee to be assessed by the department on or before May 1, 2005, and every May 1 thereafter, measured by the gross revenues of the preceding tax period in an amount equal to the apportionment factor multiplied by gross revenues multiplied by 1.59 percent. The fee shall become delinquent if not paid when due and when delinquent shall be subject to interest at the rate of 1.5 percent per month until paid.(3) ADMINISTRATION. Section 76.28(3) (c) and (4) to (11), as it applies to the fee imposed under s. 76.28(2), applies to the fee imposed under this section.