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On my property tax statement it shows our business listed as…

On my property tax...

On my property tax statement it shows our business listed as commercial, we are zoned in light industrial/manf. We are a 3 person operation in making kitchen/bath cabinets, 1 person is sales/ofc 2 make the cabinets and install. Do we need to show on our tax statement that we are light industrial/manfu. or can we leave as commercial. Not sure if it matters.

Accountant's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

Wisconsin

Accountant's Assistant: Has anything been filed or reported?

Not sure, business was set up when I took over. Husband deceased.

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

Will we have any inspections from state if we make changes.

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Answered in 57 minutes by:
3/14/2018
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,415
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

You should use the light industrial/manufacturing on your tax return. The IRS wants an accurate description of your business. Using "commercial" is not specific enough for IRS because they use the actual type of business for statistic purposes.

What you report on your tax return will not have any effect on inspections from the state.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Customer reply replied 4 months ago
Do I need to have the Village of Weston change commercial to light industrial on the real-estate property tax bill?

No.

Your property tax bill has nothing to do with the IRS.

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,415
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified
Barbara and 87 other Tax Specialists are ready to help you
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Phone call session started
Customer reply replied 4 months ago
do not call

I tried to call before you said not to call, but the call wouldn't go through.

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Customer reply replied 4 months ago
i was not aware there would be a addtional charge.

That's okay.

We can continue here.

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The designation that the Village of Weston uses is for their purposes when categorizing property.

The designation the IRS uses is for statistical purposes regarding types of businesses.

One has nothing to do with the other.

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Customer reply replied 4 months ago
Sorry this is new to me. Is there an additional charge to the membership cost .

Experts have nothing to do with billing.

You can call customer service at 1-***-***-****, and a representative will assist you.

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Customer reply replied 4 months ago
as long as I am in a light industrial area, we can continue to make our own cabinets and claim a manufacturing credit.

Correct.

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Customer reply replied 4 months ago
Thank you

My pleasure.

Have a great evening!

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Customer reply replied 4 months ago
I would now like to have an opinion from a real estate attorney. I did call DOR to see if there where any changes to the forms that I sent in from the previous year for the Manufacturing Credit. A corporate revenue auditor came on the line and stated she did not see that we qualified for MC. requested info on how we were set up on our real-estate property bill. I told her I would get back . She requested me, to e-mail. I emailed her the next day 2-5-18. Stated I show we were listed as commercial on and tax bill and zoned light industrial/manuf. with the village of Weston, WI. She never responded. Just need to know if we are ok, or if we need to make changes. SEE previous questions with Barbara Tax Professional..
Customer reply replied 4 months ago
Pls do not call.

No phone call will be made.

You will have to post your latest question separately, and post it in the Real Estate Law category.

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