Pa 003 Form PDF Details

The PA-003 form serves as a critical document for businesses in Wisconsin, outlining the process for reporting personal property for assessment purposes. Its importance lies in its role in ensuring businesses accurately declare their personal property to local assessors, based on the status of the property as of January 1, 2022, with a due filing date of March 1, 2022. This comprehensive form requires detailed information about property ownership—ranging from equipment to leased assets—and its proper assessment can greatly impact a business's local tax responsibilities. Furthermore, it highlights the importance of confidentiality in personal property returns, stipulates penalties for failure to file, and outlines the rights and limitations of businesses in the appeals process. Through instructions for filling and filing, coupled with sections dedicated to various types of personal property, the PA-003 form is designed to facilitate thorough and accurate reporting, thereby enabling fair assessment and taxation. Questions regarding the form and its components direct users to contact their local assessor, emphasizing a collaborative approach to property tax assessment.

QuestionAnswer
Form NamePa 003 Form
Form Length3 pages
Fillable?No
Fillable fields0
Avg. time to fill out45 sec
Other names www.revenue.wi.govdorformspa-003Due date Statement of Personal Property 2022

Form Preview Example

Due date

March 1, 2022

Statement of Personal Property

Assessment date – January 1, 2022

2022

Filing Instructions – you must file this completed return with your local assessor on or before March 1, 2022. (sec. 70.35, Wis. Stats.) Report personal property not reported to the Wisconsin Department of Revenue’s Manufacturing & Utility Bureau.

Confidentiality – under sec. 70.35(3), Wis. Stats., personal property returns filed with the local assessor are confidential records of the assessor’s office.

Failure to File – if you do not file, your local assessor will estimate your property’s value using the best information available. You will also be denied appeal rights with the Board of Review (BOR), under sec. 70.35(4), Wis. Stats.

Questions? – if you have questions on filing this form, contact your local assessor.

For Office Use Only

School district

TID no.

Assessor name

Assessor address

Property Owner and Property Information (agent, consignee or other representative)

Property address:

 

 

 

 

 

 

 

FEIN

 

 

Account no.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(if different from above)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NAICS code

 

 

Town

Village

City

Business type:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

County

 

 

Municipality

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner is: (check box that applies)

Sole Proprietorship

 

Partnership

 

Corporation

LLC

LLP

New owner information complete this section if there was a

 

New owner name

 

 

 

 

 

 

 

 

 

change in ownership or the business is no longer in operation.

 

 

Property address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Type of change: (check box that applies)

 

 

Mailing address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued

 

Sold

Incorporated

Moved

 

Phone no. (

)

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date of change:

 

-

-

 

 

 

 

Email

 

 

 

 

 

Preparer and Owner Information/Signature

I, the undersigned declare under penalties of law that I have personally examined this return and its completed schedules. To the best of my knowledge and belief, this return is true, correct and complete.

Preparer

 

 

 

 

 

Owner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name (please print)

 

 

 

 

Name (please print)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address

 

 

 

 

 

Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Phone

 

 

Fax

 

 

 

Phone

 

 

Fax

 

 

 

(

)

-

(

)

-

 

(

)

-

(

)

-

 

Email

 

 

 

 

 

 

Email

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature

 

 

 

Date

 

Signature

 

 

 

Date

 

 

 

 

 

 

-

-

 

 

 

 

 

-

-

Schedule A – Personal Property Return (Assessment Summary as of January 1, 2022)

This schedule summarizes all taxable personal property from Schedules B through H. Line 10, Col. 3 is the total value of your taxable personal property within this municipality.

 

Col. 1

Col. 2

Col. 3

For Office Use Only

 

Property Type

Subtotal

Total

Class

Col. 4

1.

Boats and watercraft (from Sch. B)

 

 

1

 

2.

Furniture, fixtures and equipment (from Sch. D)

 

 

 

 

 

 

 

 

 

 

3.

Multifunction fax machines, copiers, postage meters ... (from Sch. D2)

 

 

 

 

4.

Total of Lines 2, 3

 

 

3

 

5.

Building on leased land (from Sch. E)

 

 

4B

 

6.

Leased equipment (property in charge of but not owned) (from Sch. F)

 

 

 

 

 

 

 

 

 

 

7.

Supplies (from Sch. G)

 

 

 

 

 

 

 

 

 

 

8.

All other personal property (from Sch. H)

 

 

 

 

9.

Total of Lines 6, 7, 8

 

 

4A

 

 

 

 

 

 

 

 

 

 

 

10.

Total Assessable – add Lines 1, 4, 5, 9

 

 

 

 

 

 

 

 

 

 

PA-003 (R. 10-21)

Wisconsin Department of Revenue

Schedule B – Boats and Watercraft

2022

Report: All boats and watercraft subject to general property taxation. Review the Composite Conversion Factors and Composite Useful Lives Table on various equipment https://www.revenue.wi.gov/Pages/Report/Home.aspx.

Col. 1

Col. 2

Col. 3

Col. 4

Col. 5

Col. 6

Description of Boats and Watercraft

Acquisition

Original

Conversion

Declared Value

For Office

 

Year

Cost

Factor

January 1

Use Only

Total Declared Value

NOTE: Attach additional sheets if needed

Enter Col. 5 Total on Sch. A, Line 1, Col. 3

 

 

 

 

 

Schedule D – Furniture, Fixtures and Equipment

2022

 

 

 

Report: All furniture, fixtures and equipment (e.g., office, store and professional furniture, fixtures and equipment, business and professional libraries, other assets related to the sales and administration of your business). Original Cost in Col. 4, should contain all costs of installation and freight, add-ons and sales tax.

Col. 1

Col. 2

Col. 3

Col. 4

Col. 5

Col. 6

Col. 7

Acquisition

Total Original Cost

Additions, Disposals, Transfers

Net Total Original Cost

Conversion

Indexed Net Value

For Office

Year

as of Jan. 1, 2021

at Cost Since Jan. 1, 2021

as of Jan. 1, 2022

Factor

(Full Value) on Jan. 1, 2022

Use Only

 

 

 

(Col. 2 +/- Col. 3)

(10-yr)

(Col. 4 x Col. 5)

 

2021

 

 

 

.925

 

 

2020

 

 

 

.794

 

 

2019

 

 

 

.688

 

 

2018

 

 

 

.602

 

 

2017

 

 

 

.517

 

 

2016

 

 

 

.443

 

 

2015

 

 

 

.377

 

 

2014

 

 

 

.327

 

 

2013

 

 

 

.280

 

 

2012

 

 

 

.240

 

 

All prior years

 

 

 

.144

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Enter Col. 6 Total on

 

 

 

 

 

 

Sch. A, Line 2, Col. 2

 

Schedule D2 – Multifunction Faxes, Copiers, Postage Meters, Phone Systems, Computerized Equipment 2022

 

 

 

 

 

 

 

Report: All multifunction faxes, copiers, postage meters, telephone systems (PBXs), equipment with embedded computerized components.

Col. 1

Col. 2

Col. 3

Col. 4

Col. 5

Col. 6

Col. 7

Acquisition

Total Original Cost

Additions, Disposals, Transfers

Net Total Original Cost

Conversion

Indexed Net Value

For Office

Year

as of Jan. 1, 2021

at Cost Since Jan. 1, 2021

as of Jan. 1, 2022

Factor

(Full Value) on Jan. 1, 2022

Use Only

 

 

 

(Col. 2 +/- Col. 3)

(6-yr)

(Col. 4 x Col. 5)

 

2021

 

 

 

.875

 

 

2020

 

 

 

.663

 

 

2019

 

 

 

.507

 

 

2018

 

 

 

.391

 

 

2017

 

 

 

.296

 

 

2016

 

 

 

.225

 

 

All prior years

 

 

 

.124

 

 

Total

 

 

 

 

 

 

 

 

 

 

Enter Col. 6 Total on Sch. A, Line 3, Col. 2

 

 

 

 

 

 

 

Schedule E – Buildings on Leased Land

 

2022

Report: Buildings, structures and other improvements you own, but are located on land you do not own. They are valued in the same manner as improvements located on land owned by you. Enter your opinion of value in Col. 4.

Col. 1

Col. 2

Col. 3

Col. 4

Col. 5

Property Description

Acquisition

Original

Opinion of Value

For Office Use Only

 

Year

Cost

January 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Declared Value

Enter Col. 4 Total on Sch. A, Line 5, Col. 3

PA-003 (R. 10-21)

- 2 -

Wisconsin Department of Revenue

Schedule F – Leased Equipment (Property in charge of but not owned)

2022

Report: All leased equipment (e.g., business furniture, fixtures, equipment, machines, postage meters, tools, advertising devices) and similar items loaned, leased, stored or otherwise held and not owned by you. These items may or may not be assessed to you. Often, leases state whether the owner or the lessee is responsible for the personal property taxes. Review the Composite Conversion Factors and Composite Useful Lives on various equipment https://www.revenue.wi.gov/Pages/Report/Home.aspx.

Col. 1

Name and Address

of Leasing Company *

Col. 2

Equipment Type

and Lease No.

Col. 3

Gross Annual

Rent

Col. 4

Installation

Year

Col. 5

Original

Cost

Col. 6

Col. 7

Indexed Value Taxable

For Office

Equipment

Use Only

* Leasing Companies: To avoid duplication of assessment, provide the same

Total

information requested on this schedule including name and location of lessees.

 

Enter Col. 6 Total on

Sch. A, Line 6, Col. 2

Schedule G – Supplies

2022

Report: Your supplies inventory. Report items in your possession on January 1 and are expensed, not subject to resale, but are necessary in the

conduct of business and are consumed in the operations of providing customer services. Supplies include: Items used for selling and advertising, office, shipping, medical, dental, janitorial and cleaning.

Supplies inventory – January 1, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

Enter amount on Sch. A, Line 7, Col. 2

Schedule H – All Other Personal Property, Leasehold Improvements, Signs, Billboards, Logs and Forest

2022

Products, Improvements on Exempt Land, Improvements on Forest Cropland or Managed Forest Land

 

 

 

Report: All leasehold improvements and other personal property not previously reported on other schedules. Report improvements on exempt land and privately owned structures, billboards, cable television towers or special taxed land. Review the Composite Conversion Factors and Composite Useful Lives Table on various equipment https://www.revenue.wi.gov/Pages/Report/Home.aspx.

Leasehold improvements – any alterations, additions or improvements, adding value, made by a tenant to leased or rented premises. Enter the total improvement cost in Col. 3.

Include: Logs and other forest products belonging to persons whose principal activity is not related to the buying, selling or manufacturing that type of property.

Exclude: Merchant’s or manufacturing stock.

Col. 1

Acquisition

Year

Col. 2

Property Description

Col. 3

Acquisition

Cost

Col. 4

Conversion

Factor

Col. 5

Declared Value

January 1

Col. 6

For Office Use Only

 

Total

 

 

 

 

Lease or Asset Information

 

Enter Col. 5 Total

 

on Sch. A, Line 8, Col. 2

 

 

For each property you are leasing, provide the following: (attach additional sheets if necessary)

Property

Term

Start

 

End

 

 

 

Square footage – leased area

 

Annual base rent

 

 

 

 

 

 

 

$

 

 

 

 

 

 

(mm-yyyy)

 

 

(mm-yyyy)

 

 

 

Sq. Ft.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales/rent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If your sales are the basis for your rent, enter percentage of sales you pay as rent.

%

Amount paid $

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rent includes: (check all that apply)

Electric

Heat

Real estate taxes

 

Parking

 

Common area maintenance

Other (describe)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PA-003 (R. 10-21)

- 3 -

Wisconsin Department of Revenue

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1. The Pa 003 Form needs particular details to be inserted. Make sure the following fields are filled out:

Part no. 1 in filling in Pa 003 Form

2. Once your current task is complete, take the next step – fill out all of these fields - Preparer Name please print, Owner Name please print, Address, Phone Email, Signature, Fax, Date, Address, Phone Email, Signature, Fax, Date, Schedule A Personal Property, This schedule summarizes all, and Col with their corresponding information. Make sure to double check that everything has been entered correctly before continuing!

Preparer Name please print, Schedule A  Personal Property, and Signature inside Pa 003 Form

3. This next part is all about All other personal property from, Total of Lines, Total Assessable add Lines, PA R, and Wisconsin Department of Revenue - type in every one of these blank fields.

Pa 003 Form completion process explained (part 3)

4. The next paragraph will require your involvement in the following areas: Description of Boats and Watercraft, Acquisition, Year, Original, Cost, Conversion, Declared Value, Factor, January, For Office Use Only, Total Declared Value, Note Attach additional sheets if, Enter Col Total on Sch A Line, Report All furniture fixtures and, and Schedule D Furniture Fixtures and. It is important to enter all required information to move onward.

Pa 003 Form conclusion process described (step 4)

Be extremely attentive while completing Acquisition and Factor, as this is where most users make mistakes.

5. The last point to conclude this form is crucial. Make sure that you fill in the appropriate form fields, such as All prior years, Total, Schedule D Multifunction Faxes, Report All multifunction faxes, Col, Col, Acquisition, Year, Total Original Cost as of Jan, Col, Col, Col, Col, Additions Disposals Transfers, and Net Total Original Cost, before finalizing. Failing to do it might generate a flawed and possibly nonvalid paper!

Filling out segment 5 in Pa 003 Form

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