Selecting a service provider to complete a Predominant Use Study in Indiana is an effective way to ensure a business receives the full utility sales tax exemption. However, while the process itself is not complicated, the calculations are time-consuming and complex. Unfortunately, errors and missed data will result in a rejection of the application for the business.
Indiana offers businesses up to 100% sales tax exemption for meters using more than 50% of the utility in a qualifying process. This includes city, county, and state sales taxes, which results in considerable savings and refund potential. The state allows businesses to claim a refund for the past 36 months on all exempt and qualifying meters. Meters that have less than 50% qualifying use are not considered eligible for a refund or a future utility sales tax exemption.
Look for Experience
Ideally, choose a company specializing in providing Predominant Use Studies in the state. Working with an experienced Predominant Use Study provider means they have the engineers, financial experts, and the understanding of state laws to measure the energy accurately. This information is used to identify meters as qualifying or non-qualifying for the refund exemption.
Consider the Costs
Different companies providing a Predominant Use Study have different pricing methods. Some charge a flat fee, while others charge a percentage of the refund and exemption.
The cost is always a consideration. However, it is also essential to take the experience and expertise into the evaluation. Companies offering low pricing may not provide the professionals, state-of-the-art software, and the ability to get the study completed quickly and without any disruption to the business.
Let the Predominant Use Study experts at B. Riley Financial complete the study for your Indiana business. To book a consultation, visit us at brileyfin.com.