ScheduleMA-M: ScheduleMA-M (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Schedule MA-M is used to calculate the 2024 Wisconsin manufacturing credit. It reports production receipts and costs, manufacturing property values, credits passed through from other entities, and unused credit carryovers, with a business income limitation calculation for individ
Who files this form
Use 2024 Wisconsin Schedule MA-M to calculate and claim the Wisconsin manufacturing credit. The form includes calculations for individuals, fiduciaries, partnerships, tax-option (S) corporations, and C corporations.
If line 11 is zero or less, the form says to stop because you do not qualify for the manufacturing credit.
What you'll need
Have the following information available, as applicable:
- Your name and identifying number.
- The Department of Revenue account number from the 2024 Business Activity Roll and parcel number from the 2024 Notice of Real Property Assessment.
- Production gross receipts, all gross receipts, cost of goods sold, and direct and indirect costs.
- Average values of land and depreciable property owned or rented and used to manufacture qualified production property, including the Wisconsin amounts.
- Form 4, line 11, or Form 4T, line 10, for single-entity corporate filers.
- Entity names, FEINs, and manufacturing credit amounts passed through from other entities.
- Tax and credit information for each business if completing the business income limitation in Part II.
Include Schedule CF if you report unused manufacturing credit carried over on line 19 or do not use the credit in full on line 22.
How to file
File Schedule MA-M with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5S, or 6, as applicable.
Include Schedule CF when reporting a carryover of unused manufacturing credit or when the credit is not used in full.
The supplied form does not provide a mailing address or e-filing directions.
Common mistakes
- Not rounding amounts: The form says to round amounts to the nearest dollar.
- Skipping questions A through D: Answer these questions if you complete Part I, lines 1 through 15g.
- Continuing when line 11 is zero or less: Stop there. The form says you do not qualify for the credit.
- Including partnership or tax-option (S) corporation income on line 15f: The form specifically excludes that income from line 15f and refers you to line 17.
- Leaving out Schedule CF: Include it for a carryover on line 19 or if the credit on line 22 is not used in full.
Questions people ask
What rate is used to calculate the manufacturing credit?
Line 16 uses 7.5%. C corporations multiply line 15d by that rate, partnerships and tax-option (S) corporations use line 15e, and individuals and fiduciaries use line 15g. This calculates the credit before pass-through credits.
What if all my manufacturing activity occurred in Wisconsin?
If all manufacturing activity occurred in Wisconsin on property assessed as manufacturing, check the box on line 12a, skip lines 12b and 13, and enter 100.0000 on line 14.
Where do I report credit passed through from another entity?
Report it on line 17 with the entity's name and FEIN. The form refers to instructions for limitations, but those instructions were not supplied here.
Is there a business income limitation for individuals and fiduciaries?
Yes. Part II computes the business income limitation for individuals and fiduciaries. On line 22, these filers enter the smaller of line 20 or line 21.