In order to be considered officially qualified to receive sale tax exemption status, you will need to hire a licensed professional to complete a predominant use study in Wisconsin. A predominant use study in Wisconsin is a vital part of deciding whether or not a company is eligible to receive sale tax exemptions or refunds. Through a predominant use study in Wisconsin, you will be able to prove that your company is in compliance in the required areas.
A predominant use study in Wisconsin evaluates a number of different energy elements. The study looks at the kilowatt per hour of electricity that your company consumes at each one of the electric meters. The same is done for cubic feet of natural gas per meter. Also included is the volume of water that is transmitted at each meter.
A predominant use study in Wisconsin will also look at all of the water, electricity, and gas that is consumed by applicable equipment. During the evaluation process, the equipment will be separated into two separate categories, which are processing and non-processing. It is important to understand and identify where the sales tax savings should be applied.
In general, if more than half of your natural gas and electric qualify under the predominant use study in Wisconsin, then it is likely that your company will receive a sales tax exemption status. If you have questions or concerns related to a predominant use study in Wisconsin, then you may want to consider hiring a consultant to help guide you through the process.
If you are interested in learning more about a predominant use study in Wisconsin, we are here to assist at Business Name. For more details, visit us today.
