ScheduleMS: ScheduleMS (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Schedule MS calculates the manufacturer’s sales tax credit carryforward allowable for 2024. It reports unused credits from pass-through entities and sole proprietorships, as well as corporations’ unused credits from their own operations, and determines the amount you ma
Who files this form
Use 2024 Wisconsin Schedule MS to claim an allowable manufacturer’s sales tax credit carryforward. The schedule covers unused credits from pass-through entities and sole proprietorships, as well as unused credits from a corporation’s own operations.
File it with Wisconsin Form 1, 1NPR, 2, 4, 4T, 5S, or 6.
What you'll need
The schedule asks for the following information:
- Your name and identifying number.
- Each business’s name and, for entities only, federal employer identification number.
- Unused credit as of the beginning of the 2024 taxable year.
- For each business listed in Part II, your share of its net income or loss, gross tax, recomputed 2024 tax liability, and share of its unused sales tax credit.
Use separate schedules to report additional businesses beyond the spaces provided.
How to file
File Schedule MS with Wisconsin Form 1, 1NPR, 2, 4, 4T, 5S, or 6.
- Complete Part I with the requested business information and unused credits.
- In Part II, enter the requested information for each business from Part I. Column (e) is column (c) minus column (d). In column (g), enter the smaller of column (e) or column (f).
- Report amounts from additional businesses on line 2. Corporations report unused credit from their own operations on line 2a.
- Add the amounts from column (g) on line 3. The form identifies this as the credit you may claim on your return.
The supplied text does not give a mailing address or e-filing instructions.
Common mistakes
- Corporations: check whether you should skip Part I. If none of your manufacturer’s sales tax credit carryforward is from a pass-through entity, the form directs you to skip Part I and enter your unused credit as of the beginning of your 2024 taxable year on Part II, line 2a.
Questions people ask
Which tax year is this schedule for?
This Schedule MS reports manufacturer’s sales tax credit carryforward available for 2024.
Does every business need a federal employer identification number in Part I?
The form labels that field “Entities only.”
What if I have more businesses than the schedule has spaces for?
Report additional businesses on separate schedules and enter their amounts on Part II, line 2.
How much credit goes in Part II, column (g)?
Enter the smaller of column (e), the portion of gross tax attributable to the income in column (b), or column (f), your share of the business’s unused sales tax credit.