Instructions for 2024 Schedule MA-M 

Purpose of Schedule MA-M 
 
Use Schedule MA-M to claim the manufacturing credit. The credit is available for taxable years beginning after December 
31, 2012. 
 
Who is Eligible For the Credit 

Any individual, estate, trust, partnership, limited liability company (LLC), corporation, tax-option (S) corporation, or tax-
exempt organization may be eligible for the credit. 
 
In order to be eligible to compute the credit, a claimant must generate receipts from the lease, rental, license, sale, 
exchange, or other disposition from the following:  
 
•  Tangible personal property manufactured in whole or in part by the claimant on property located in Wisconsin that is 
 assessed as manufacturing under sec. 70.995, Wis. Stats., or located in Wisconsin and classified as manufacturing 
 under sec. 70.995(5n), Wis. Stats.  
 
Partnerships, LLCs treated as partnerships, and tax-option (S) corporations cannot claim the credit; the credit computed 
by those entities flows through to the partners, members, or shareholders based on their ownership interests. 
 
Estates and trusts share the credit with their beneficiaries in proportion to the income allocable to each. 
 
The credit must be claimed within four years of the unextended due date of your return. 
 
Manufacturing Assessments 
 
Prior  to  January  1  2024,  manufacturing  property  could  be  assessed  as  personal  property  or  real  property.    2023 
Wisconsin Act 12 repealed personal property taxes starting with assessment year 2024and created sec.        70.995(5n), 
Wis. Stats, to classify personal property as manufacturing.  Establishments not classified as manufacturing prior to 
January 1, 2024, must file an application with the Department of Revenues division of State and Local Finance no later 
than July 1 of the taxable year.  Establishments classified as manufacturing prior to January 1, 2024, are presumed to 
be engaged in manufacturing and do not need to apply.   
 
Further information regarding getting  manufacturing  personal  property classified as manufacturing can be  found at: 
https://www.revenue.wi.gov/Pages/FAQS/ise-manufagr.aspx 
 
Manufacturing assessments for real property are performed by the Department of Revenue's division of State and Local 
Finance's Manufacturing Bureau. Generally, applicants must request certification by March 1 of the prior calendar year 
in order to be certified for the current calendar year; however, if the applicant is approved by DOR to be classified as a 
manufacturer, but is not eligible to be listed on the manufacturing roll until January 1 of the following year, the applicant 
may claim the credit in the year in which the manufacturing classification is approved.    
 
To  find  out  if  the  property  is  assessed  as  manufacturing  real  property,  visit  the  department's  online  manufacturing 
assessment roll lookup at:  https://ww2.revenue.wi.gov/RETRWebRolls/application. 
 
To find out if personal property has been classified as manufacturing property, visit the departments online business 
activity roll lookup at:  https://www.revenue.wi.gov/Pages/Manufacturing/notification-rolls-business-activity.aspx 
 
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                                         2024 Schedule MA-M Instructions 

For answers to additional manufacturing assessment questions, contact the regional office located on the following page: 
slfdoc.pdf (wi.gov)  
 
For  potential  manufacturers  (both  real  and  personal  property),  complete  the  following  questionnaire:  
revenue.wi.gov/DORForms/pa-780.xlsx 
 
Contact information for the Department of Revenue's Manufacturing Bureau can be found at:    
revenue.wi.gov/Pages/Contact/slfbmta.aspx 
 
Credit is Income 
 
The credit that you compute on Schedule MA-M is income and must be reported on your Wisconsin franchise or income 
tax return in the year after the year in which the credit was computed. The credit must be included in Wisconsin income 
to the extent it was not included in federal adjusted gross income or federal taxable income. This is required even if you 
are not able to fully utilize the credit in the current taxable year. 
 
Example: You computed a manufacturing credit for  2024. The amount of the credit must be included on your  2025 
Wisconsin income or franchise tax return to the extent it is not included in your 2025 federal adjusted gross income or 
federal taxable income.  
 
Carryforward of Unused Credits 
  
The manufacturing credit is nonrefundable. Any unused credit may be carried forward for up to 15 years. 
 
If  there  is  a  reorganization  of  a  corporation  claiming  the  manufacturing  credit,  the  limitations  provided  by  Internal 
Revenue Code (IRC) section 383 may apply to the carryover of any unused credit.  
 
Specific Instructions  
 
Note: If you have qualified production activities income from both manufacturing and agricultural activities, you must 
complete a separate Schedule MA-M and MA-A to compute the credit separately for each activity. 

Answer questions A through D if you must complete lines 1-15g of Schedule MA-M. 
 
For questions A and B, if you have multiple lines of personal and real property, attach additional account and parcel 
numbers on a separate schedule. As an alternative to including a separate schedule detailing the parcel numbers, you 
may also include a copy of the assessment notices received from the Department of Revenue. 
 
Part I Instructions 
 
Line 1: Fill in the amount of your production gross receipts.  
 
"Production  gross  receipts"  means  the  gross  receipts  from  the  lease,  rental,  license,  sale,  exchange,  or  other 
disposition of "qualified production property". 
 
"Qualified production property" is tangible personal property manufactured in whole or in part by the claimant on 
property located in Wisconsin that is assessed as manufacturing property under sec. 70.995, Wis. Stats., or located in 
Wisconsin and classified as manufacturing under sec. 70.995(5n), Wis. Stats.  
 
Qualified production gross receipts do not include gross receipts income from:  
•  Film production 
•  Producing, transmitting, or distributing electricity, natural gas, or potable water 
•  Constructing real property 
•  Engineering or architectural services performed with respect to constructing real property 

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                                             2024 Schedule MA-M Instructions 

•  The sale of food and beverages prepared by the claimant at a retail establishment 
•  The lease, rental, license, sale, exchange, or other disposition of land 
•  Forgiveness of original Paycheck Protection Program (PPP) loan proceeds, forgiveness of subsequent PPP loan 
    proceeds, emergency grants of economic injury disaster loans (EIDL) and targeted EIDL advances, or any other 
    government grant or loan program. 
 
Below  are  two  examples  that  illustrate  how  production  gross  receipts  are  computed  when  manufacturing  occurs 
separately in separate states and when manufacturing occurs and is transferred between states: 

Example 1:  A taxpayer manufactures products in Minnesota and Wisconsin entirely separate from each other, and the 
products never transfer between states.   
 
Production gross receipts  only include receipts from sales of products manufactured in Wisconsin. 
 
Example 2:  A taxpayer begins manufacturing qualified production property in Illinois and finishes the manufacturing at 
its plant in Wisconsin.   
 
Production gross receipts  include sales of all products manufactured in Wisconsin, in whole or in part, even though 
part of the product is manufactured in Illinois. 
 
Line 2: Fill in the cost of goods sold that is allocable to your production gross receipts. 
 
.   
 
Line 3: Fill in the direct costs allocable to production gross receipts. 
 
"Direct costs" includes all ordinary and necessary expenses paid or incurred during the taxable year in carrying on the 
trade or business that are deductible as business expenses under the Internal Revenue Code and identified as direct 
costs in your managerial or cost accounting records. This includes depreciation expense computed under the IRC in 
effect for Wisconsin that are classified as direct costs.  
 
There are no specific examples of direct costs provided in the statutes because not every business operation will account 
for direct and indirect costs in the same manner.  Because of this variability, the determination of direct costs relies, in 
part, on the taxpayer's accounting records.  
 
In general, direct costs are those costs that directly benefit one specific project or good that is being produced.  Examples 
of direct costs may include production employee wages, supplies consumed directly in the production process, and costs 
of consultants used in producing the finished product. 
 
Line 6: Fill in your indirect costs. 
 
"Indirect costs" includes all ordinary and necessary expenses (not just those allocable to production gross receipts) 
paid or incurred during the taxable year in carrying on the trade or business that are deductible as business expenses 
under the Internal Revenue Code, other than cost of goods sold and direct costs, and identified as indirect costs in your  
managerial  or  cost  accounting  records.  This  includes  depreciation  expenses  computed  under  the  IRC  in  effect  for 
Wisconsin that are classified as indirect costs. Like direct costs, there are no specific examples of indirect costs provided 
in  the  statutes  because  not  every  business  operation  will  account  for  direct  and  indirect  costs  in  the  same 
manner.   Because  of this  variability, the determination of  indirect costs relies, in part,  on the taxpayer's accounting 
records.  
 
In general, indirect costs are costs that benefit more than one specific project or good that is being produced and cannot 
be easily traced to a single project or good being produced. Examples of indirect costs may include building rent, legal 
expenses, business insurance, advertising expenses, accounting and administrative salaries, office supplies, and certain 
utilities.  
 
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                                         2024 Schedule MA-M Instructions 

Line 8: Fill in all gross receipts of the business.  
 
"Gross receipts" is all gross income from whatever source, except for those items specifically excluded under the Internal 
Revenue Code as adopted by Wisconsin  and  otherwise excluded  under Wisconsin  law. Include  gross sales, gross 
dividends, gross interest income, gross rents, gross royalties, the gross sales price from the disposition of capital assets 
and business assets, gross income from pass-through entities, and all other gross receipts that are included in income 
before apportionment. 
 
Note: For individuals, do not include gross receipts or income from sources not related to the business.  For example, 
do not include your spouse's wages earned from an employer, and do not include rental income from an apartment 
building reported on federal Schedule E. 
 
Line 9: Divide the amount on line 7 by the amount on line 8 and multiply that amount by 100. Fill in the result on line 9. 
Carry your decimal to four places, rounding off the fourth position.   
 
Manufacturing Property Factor 
 
Below  are  two  examples  that  illustrate  how  production  gross  receipts  are  computed  when  manufacturing  occurs 
separately in separate states and when manufacturing occurs and is transferred between states: 
 
Example 1:  A taxpayer manufactures products in Minnesota and Wisconsin entirely separate from each other, and the 
products never transfer between states.  
 
The numerator of the manufacturing property factor includes Wisconsin land and depreciable property that was used 
to manufacture qualified production property. 
 
The denominator of the manufacturing property factor includes Wisconsin land and depreciable property that was 
used to manufacture qualified production property 
 
The manufacturing property factor does not include any of the Minnesota property because qualified production property 
was not produced in Minnesota. 
 
Example 2: A taxpayer begins manufacturing qualified production property in Illinois and finishes the manufacturing at 
its plant in Wisconsin.   
 
The numerator of the manufacturing property factor includes Wisconsin land and depreciable property that was used 
to manufacture qualified production property. 
 
The denominator of the manufacturing property factor includes both the Illinois and Wisconsin land and depreciable 
property that were used to manufacture qualified production property. 
 
The manufacturing property denominator includes the Illinois property because the product was manufactured, in part, 
in Wisconsin, so it is considered qualified production property. 
 
Line 12a: If all of the manufacturing activity occurred in Wisconsin (i.e. products were not first manufactured outside of 
Wisconsin and transferred to Wisconsin for final manufacturing) on property that was assessed as manufacturing under 
sec. 70.995, Wis. Stats., or classified as manufacturing property under sec. 70.995(5n), Wis. Stats., check the box, skip 
lines 12b and 13, and enter 100.0000 on line 14.  There is no requirement to complete the manufacturing property factor 
on lines 12b and 13 because you are certifying that all manufacturing activity took place in Wisconsin. 
 
Line 12b: Fill in the average value of your land and depreciable property  assessed as manufacturing property under 
sec. 70.995, Wis. Stats., or classified as manufacturing property under sec. 70.995(5n), Wis. Stats., owned or rented 
and used in Wisconsin during the taxable year to manufacture qualified production property. 
 
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                                              2024 Schedule MA-M Instructions 

Property owned by the claimant is valued at its original cost and property rented by the claimant is valued at an amount 
equal to the annual rent paid, less any annual rent received from sub-rentals, multiplied by eight (8). 
 
The average value of property is determined by averaging the values at the beginning and ending of the taxable year, 
except that the Secretary of Revenue may require the averaging of monthly values during the taxable year, if such 
averaging is reasonably required to properly reflect the average value of the property. 
 
The amount to enter on line 12b of Schedule MA-M does not come from the assessed value of the  manufacturing 
property on the property tax bills.  Instead, the property value is based on the original cost of the property provided on a 
real estate closing statement, purchase invoices, or similar document.    
 
Line 13: Fill in the average value of all of your land and depreciable property owned or rented during the taxable year 
and used to manufacture qualified production property. 
 
If  you  are  manufacturing  qualified  production  property  in  another  state  and  finishing  the  manufacturing  process  in 
Wisconsin,  the  average  value  of  the  other  states  land  and  depreciable  property  that  was  used  to  manufacture  the 
qualified production property is included on line 13.    
 
The amount to enter on line 13 of Schedule MA-M does not come from the assessed value of the manufacturing property 
on the property tax bills.  Instead, the property value is based on the original cost of the property provided on a real 
estate closing statement, purchase invoices, or similar document.  
 
Line 14: Divide the amount on line 12b by the amount on line 13 and multiply that amount by 100. Fill in the result on 
line 14. Carry your decimal to four places, rounding off the fourth position. 
 
Line 15a: Multiply line 11 by the decimal amount on line 14.  
 
•   If you are a corporation that is required to file its Wisconsin franchise or income tax return on Form 4 or Form 4T,  
    complete lines 15b and 15d.  
•   If you are a corporation required to file Form 6, complete lines 15c and 15d.   
•   Individuals, partnerships, tax-option (S) corporations, and fiduciaries may skip to line 15e after completing line 15a. 
 
Line 15b: If you are a single entity Form 4 or Form 4T filer, fill in the amount from line 11 of Form 4 or line 10 of Form 
4T. 
 
Line 15c: If you are a combined group member filing Form 6,  fill in on line 15c  the Wisconsin net income as computed 
in the instructions for Form 6, Part III as follows: 

      Share of combined unitary income (line 2+3) 
+    Income from separate entity items (line 4) 
-     Net capital loss adjustment (line 5) 
-     Net business loss carryforward (line 7) 
      Wisconsin net income 
 
Line 15d: Corporations filing Form 4 or Form 4T should enter the smaller of lines 15a or 15b. Corporations filing Form 
6 should enter the smaller of lines 15a or 15c. 
 
Line 15e: Individuals, partnerships, tax-option (S) corporations, and fiduciaries should enter the amount from line 15a. 
 
Line 15f - Individuals and fiduciaries: The amount of eligible qualified production activities income that may be claimed 
in computing the manufacturing credit is required to be reduced by the amount of qualified production activities income 
taxed by another state upon which the Wisconsin credit for taxes paid to another state is claimed.   
 
Enter the amount of eligible qualified production activities income that was taxed by another state and used to claim the 
Wisconsin credit for tax paid to another state.  Do not include partnership or tax-option (S) corporation income on 
this line; it will be accounted for on line 17.   
 
Line 17: Fill in the amount of manufacturing credit passed through from tax-option (S) corporations, partnerships, LLCs 
treated as partnerships, estates, or trusts. The pass-through credit is shown on Schedule 5K-1 for shareholders of tax-

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                                            2024 Schedule MA-M Instructions 

option (S) corporations, Schedule 3K-1 for partners and LLC members, and Schedule 2K-1 for beneficiaries of estates 
or trusts. Fill in the name, federal employer identification number (FEIN), and amount of credit passed through from the 
entity. If you were allocated a credit from more than one pass-through entity, attach a schedule showing each entity's 
name, FEIN, and amount of credit. Fill in the total pass-through credit on line 17. Attach the schedule to Schedule MA-
M.  
 
Limitation when Credit for Tax Paid to Other States is Claimed 
 
The amount of eligible qualified production activities income that may be claimed in computing the manufacturing credit 
is required to be reduced by the amount of qualified production activities income taxed by another state upon which the 
Wisconsin credit for taxes paid to another state is claimed.   
 
When an individual or fiduciary receives the manufacturing credit from a partnership, tax-option (S) corporation, or estate 
or trust, and  the  Wisconsin credit for tax paid to another state is claimed on  the same  eligible qualified  production 
activities income, the individual or fiduciary will need to reduce the eligible qualified production activities income by the 
amount used to compute the credit for tax paid to another state.  
 
The partnership, tax-option (S) corporation, and estate or trust is required to inform the partners, shareholders, and 
beneficiaries of their share of the qualified production activities income that is taxable in another state at either the pass-
through level or partner/shareholder/beneficiary level. This information should be provided as an attached statement to 
the Schedules 2K-1, 3K-1, and 5K-1. 
 
Manufacturing Credit Limitation Computation 
 
1. Share of total eligible qualified production activities income             1. ________________ 
2. Share of eligible qualified production activities income upon which the 
    credit for tax paid to another state is claimed                           2. ________________ 
3. Subtract line 2 from line 1                                                3. ________________ 
4. Multiply line 3 by 0.075 (7.5%). This is the manufacturing credit before 
    business income limitation in Part II                                     4. ________________ 
 
Line 18a: Fiduciaries – Prorate the credit from line 18 between the entity and its beneficiaries in proportion to the income 
allocable to each. Show the beneficiaries’ portion of the credit on line 18a. Show the credit for each beneficiary on 
Schedule 2K-1. 
 
Line 18b: Subtract line 18a from line 18. This is the estate’s or trust’s portion of the credit.   
 
Line 19: Enter the amount of manufacturing credit that was not previously used and has not expired. Include Schedule 
CF with your tax return. 
 
Line  21:  Individuals  and  fiduciaries  only:  Complete  the  business  income  limitation  table  in  Part  II.  See  Part  II 
instructions for details on completing the table. The credit, including any credits carried over, may be offset only against 
the amount of the tax imposed upon or measured by the business operations of the claimant on which the credit is 
computed: 
•  For  shareholders  of  a  tax-option  corporation,  the  credit  may  be  offset  only  against  the  tax  imposed  on  the 
 shareholder's                                                                                                                    prorated share of the tax-option corporation's income.   
•  For partners of a partnership, the credit may be offset only against the tax imposed on the partner's distributive share 
 of partnership income.  
•  For members of a limited liability company, the credit may be offset only against the tax imposed on the member's 
 distributive                                                                                                                     share of the limited liability company's income.       
 
Line 22: Individuals and fiduciaries should enter the smaller of lines 20 or 21.  All other types of taxpayers should enter 
the amount from line 20. Include Schedule CF with your tax return if the credit was not used in full. 
 
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                                  2024 Schedule MA-M Instructions 

Enter the amount of credit from line 22 on the appropriate line of Schedule CR. See the following exceptions:  
 
• Combined group members – Enter the amount of credit on Form 6, Part V, line 1 instead of Schedule CR. 
 
• Tax-option (S) corporations, partnerships, and LLCs treated as partnerships – Prorate the amount of credit on line 22 
  among  the  shareholders,  partners,  or  members  based  on  their  ownership  interest.  Show  the  credit  for  each 
  shareholder on Schedule 5K-1 and for each partner or member on Schedule 3K-1. 
 
Part II Instructions 
 
Business Income Limit Computation 

The business income limitation applies to individuals and fiduciaries only. This includes individuals who are a partner in 
a partnership, shareholder in a tax-option (S) corporation, and/or a member of a limited liability company not taxed as a 
corporation.   

Corporations, partnerships, and tax-option (S) corporations should not complete Part II. 

Column b: Enter your tax. Your tax is one of the following: 
 
• Individuals: Form 1, line 12 or Form 1NPR, line 39  
• Estates and Trusts: Form 2, line 6c or Form 4T, line 19.  
Column c:  
 
Individuals, estates, and trusts should fill in the amount of their Wisconsin tax liability computed without regard to any 
amounts of income, deduction, or expense from the business operations in which the credit was computed. You must 
make a separate computation for each pass-through entity or sole proprietorship from which you computed a credit. 
 
If you are an individual or fiduciary, you may determine your recomputed tax liability by completing a second Wisconsin 
return which does not  include these income, expense, or deduction  items. The amount to  enter in column  c is the 
recomputed amount from the following lines: 

• Individuals: Form 1, line 12 or Form 1NPR, line 39. 
• Estates and Trusts: Form 2, line 6c or Form 4T, line 19. 
  
Column d:  

Individuals, estates, and trusts subtract the amount in column c from the amount in column b for each pass-through 
entity or sole proprietorship. 

Column e: 
 
Enter the amount of credit computed that is attributable to the activities of the business that generated the credit. For 
example, if the total credit computed on line 20 is $5,000, but is from multiple businesses, and Business A's portion of 
the credit is $1,000, enter $1,000 in column e for Business A. 
 
 Required Attachments to Return 
 
• For claimants not receiving the credit passed through from a partnership, tax-option(S) corporation, limited liability 
  company, estate, or trust:    The only documentation you are required to  include with your tax return is Wisconsin 
  Schedule MA-M. 
• For  claimants  receiving  the  credit  passed  through  from  a  partnership,  tax-option  (S)  corporation,  limited  liability 
  company,  estate,  or  trust: You  are  required  to  include  Wisconsin  Schedule  MA-M  and  a  copy  of  the  Wisconsin 
  Schedule 2K-1, Schedule 3K-1, and/or Schedule 5K-1. 

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                                2024 Schedule MA-M Instructions 

Additional Information 

For more information, you may contact any Department of Revenue office or: 

• Refer  to  the  manufacturing  and  agriculture  credit  common questions at:  revenue.wi.gov/Pages/FAQS/ise-
  manufagr.aspx
• E-mail your question to: DORFranchise@wisconsin.gov.
• Call (608) 266-2772

                                Applicable Laws and Rules 
  This document provides statements or interpretations of the following laws and regulations enacted as of  October 25, 
  2024:  Chapter 71 Wis. Stats.