Everyone pays state taxes on their utility bills. However, some companies can qualify for a tax exemption for all or part of this sales tax under specific government programs. To qualify for this type of exemption, you need to complete a predominant use study in Wisconsin. As you search for a company to complete this study, it’s valuable to understand the process.
The Study and Its Review
When you request a predominant use study in Wisconsin, a professional engineer will use state-of-the-art equipment to monitor energy usage for each meter. These measurements will help them determine how much energy qualifying machines and processes used throughout the year, allowing them to establish whether your company qualifies for tax exemption status. These studies are accurate within half a percent to give you peace of mind that you’re maximizing your savings.
File for Your Exemption Status
Once your predominant use study in Wisconsin is complete, you will receive the documentation required to submit to your utility companies. This paperwork should be sent to every provider you use to ensure you get all the tax exemptions you deserve. From this point forward, you will be exempt from paying taxes on the percentage of energy use relating to qualifying equipment and processes.
Get a Refund
In addition to establishing your tax-exempt status going forward, a predominant use study in Wisconsin can be retroactive to give you a refund on state taxes you may have already paid. In Wisconsin, this prorated refund can go back up to 48 months or four years.
If you’re interested in getting a predominant use study in Wisconsin, visit the Business Name website to learn more.
