Business Personal Property

Statement of Personal Property for Business is Mandatory


Timely filing of an up-to-date statement each year is required by law and is considered to be a sworn affidavit.  

Annual acquisition costs for any personal property used for business purposes must be reported to each Town, Village or City in Wisconsin on or before March 1 of that year under Wisconsin statute.

The Statement of Personal Property - PA003 (Fillable PDF) is prescribed by the Wisconsin Department of Revenue as the preferred method or reporting in most cases. Separate reporting may supplement this return, including that for leased equipment and leasehold improvement cost itemizations.  

2021 Personal Property Instructions and Frequently Asked Questions (PDF)

2021 Personal Property Statement (Fillable Excel)

2021 Personal Property Statement (Fillable PDF)

What is the Personal Property Tax?

The personal property tax has been a part of the General Property Tax code since Wisconsin became a state in 1848.

 In the beginning, it included taxes on everything everyone owned or used. Over the years, most kinds of personal property have been exempted by statute including personal household possessions, certain farm and manufacturing property and property owned and used by a growing list of exempt organizations such as the YMCA, Fraternal societies and hospitals.    

Today it could best be called the business personal property tax, because the tax has largely been restricted to property used in for-profit activities.  

What kinds of property are taxed in Wisconsin today?
Under Wisconsin statute, “personal property” includes all goods, wares, merchandise, chattels and effects of any nature or description having any mercantile value and not included in the term “real property”, excluding your personal possessions reserved for personal use.

For purposes of the business personal property tax, this includes the actual physical “items” you use in the daily operation of your business, including furniture, fixtures, machinery, equipment, electronics, leased equipment, supplies, signs, boats and all remodeling costs NOT paid for by your landlord.

If it benefits you in your business operation and you would have to buy it or pay for it if you needed it, than it is included in the business personal property tax.  This does not include stock-in-trade or computers, software and computer peripherals.