Wisconsin Personal Property Tax

Alerts and notices

The UltraTax/Wisconsin Personal Property Tax application supports 1040, 1041, 1065, 1120, 1120S, and 990 entities. It prepares the personal property tax returns from depreciation data entered in the Asset Detail dialog.


Wisconsin forms

  • Form PA-003 - Statement of Personal Property
  • Form M-P - Manufacturing Personal Property Return

Depreciation treatments required for all WI PPT assets

The Book or WI treatment must be entered for Wisconsin Personal Property Tax returns. By default, the Book treatment transfers to the return. However, if the Complete return using the WI treatment within the Asset module field is marked on Screen Gen in the General folder for UltraTax/Wisconsin Personal Property Tax, the WI treatment will transfer to the return.

Note: If you previously entered depreciation data for only the Tax treatment, you can copy asset data from the Tax treatment to the Book treatment or to the WI treatment.

Associations required for all WI PPT assets

  • Situs: Each asset must have Wisconsin selected in the Situs field to transfer to the Wisconsin Personal Property Tax return.
  • Location: Enter the street address of the company where the assets are located. A property tax return is created for each location entered. This information transfers to the Form PA-003 Property Address field or the Form M-P Street Address of Personal Property Location(s) field. The form type (Form Type - WI) determines which form is applicable. The maximum number of characters that transfer is 25.
  • Form type - WI: Select which form the asset is reported on from the drop-down list. An entry is not required in this field for assets reported on Form PA-003 if the PPT type - WI is completed.
  • PPT type - WI: Select the appropriate personal property type for the asset from the drop-down list.
    Property Type Form
    Schedule B - Boats & watercraft Form PA-003, Page 2
    Schedule C - Machinery, tools & patterns Form PA-003, Page 2
    Schedule D - Furniture, fixtures & office equipment Form PA-003, Page 2
    Schedule D-1 - Exempt computer equip & software Form PA-003, Page 3
    Schedule D-2 - Multifunction faxes, copiers, etc. Form PA-003, Page 3
    Schedule E - Buildings on leased land Form PA-003, Page 3
    Schedule H - All other personal property Form PA-003, Page 4
  • PPT type - WI (Mfg): Select the appropriate personal property type for the asset from the drop-down list.
    Property Type Form
    Sch B - Boats & watercraft Form M-P, Page 4
    Sch B - Exempt boats & watercraft Form M-P, Page 4
    Sch C - Computers, software & fax machines Form M-P, Page 14
    Sch C - Exempt computers, software & fax machines Form M-P, Page 14
    Sch D - Copiers, telephone systems & equip Form M-P, Page 7
    Sch D - Exempt copiers, telephone systems & equip Form M-P, Page 7
    Sch F - Furniture, fixtures & office equipment Form M-P, Page 8
    Sch LB - Buildings on leased land Form M-P, Page 13
    Sch LI - Leasehold improvements & building comp Form M-P, Page 10
    Sch LI - Non-taxable leasehold improvements & building comp Form M-P, Page 10
    Sch M - Exempt mach, tools, patterns & shop equip Form M-P, Page 5
    Sch M - Machinery, tools, patterns & shop equip Form M-P, Page 5
    Sch N - Boilers assessed as personal property Form M-P, Page 6
    Sch O - Non-taxable other property Form M-P, Page 12
    Sch O - Other property Form M-P, Page 12
    Sch O - Pallets Form M-P, Page 12
    Sch Y-P - Over-the-road vehicles Form M-P, Page 3
    Sch Y-P - Waste treatment Form M-P, Page 3

Note: The associations listed above are maintained by UltraTax CS and Fixed Assets CS and cannot be modified. If X - Exempt is selected, the asset will not transfer to Form PA-003 or Form M-P. Additional, if Form type - WI does not equal M-P, entry in the PPT type - WI (Mfg) field will be ignored.

Additional associations for WI PPT assets

  • Fair market value: Used for Forms PA-003 and M-P only. Enter information in this field when you use the Schedule E - Buildings on leased land or Sch LB - Buildings on leased land property types.
  • Useful life - Estimate: Used for Forms PA-003 and M-P. Enter information this field when you use the Schedule B - Boats & watercraft (PA-003), Schedule H - All other personal property, or Sch B - Boats & watercraft (M-P) property types.

See also

Entering de minimis assets

UltraTax CS personal property tax returns

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