Throughout many states, including Missouri, businesses in specific economic sectors can complete a predominant use study. This study is also called a utility analysis, and it traces the use of utilities within the business based on the individual meters.
Eligible processes or utility use will qualify for exemption from sales taxes, including state and local taxes. In addition to obtaining a sales exemption for the future, there is also the possibility of claiming a retroactive refund for a period of time that is determined by the state.
The following are the top reasons any qualifying business in Missouri should schedule a predominant use study from a qualified company specializing in these use analysis studies.
No Downtime for the Business
Experienced professional inspectors complete the study to determine the exempt and non-exempt use of the utility during your normal business operation. Therefore, there is no need to shut down or restrict production or processing during the study.
The study can be done at any time of the year, with calculations based on past and current usage to develop an average rate throughout the year for refund purposes.
No Cost to the Business
Most companies in the manufacturing and processing sector will have no upfront costs associated with a predominant use study. Instead, the company charges on a contingency fee basis, taking their payment out of the refund from the utility company.
In this state, companies can go back ten years for the partial eligible refund on each meter, which can add to a significant refund amount both now as well as in the future.
| Businesses in Missouri in qualifying industries should complete a predominant use study with Business Name. To find out more, please visit them now. |
