Companies are often looking for ways to reduce their operating costs and increase their revenue. One of the best ways to accomplish this goal is to request a predominant use study in Missouri. This study takes a close look at your utility usage on qualifying processes to determine if you qualify for a tax exemption on your utility bills.
How It Works
During a predominant use study in Missouri, a qualified team will track energy usage for each meter and determine what percentage of your energy use is attributed to qualifying equipment and processes. In many cases, these companies will track your energy usage for a period and then average it out over the entire year to ensure you are getting the best representation of your overall energy use, instead of relying on data from a shorter time. Their goal is to maximize your tax exemption to save you as much money as possible.
What to Expect
Once your predominant use study in Missouri is completed, you will receive a detailed summary of your overall energy use and which percentage of that usage is attributable to qualifying equipment and processes. The company you use for testing will also indicate whether you qualify for tax deductions under Missouri laws. You can expect to receive a discount equal to the percentage of qualifying use. For instance, if 60 percent of your energy use qualifies, you will deduct 60 percent of your utility sales tax from each bill. This exemption is retroactive for up to 10 years, allowing you to get a rebate for the past sales tax you already paid.
If you’re interested in requesting a predominant use study in Missouri, visit the B. Riley Financial website to schedule one.