Many business owners are constantly looking for ways to reduce their costs, boost productivity, and increase profits. With a predominant use study in Indiana, you can qualify for utility tax exemptions that help you save money on your operating costs each month. The following will let you know how these studies work and how they can help.
What Is This Study?
Indiana has energy consumption requirements to qualify your business for utility tax exemptions. Through the predominant use study in Indiana, they will determine how much of your overall energy is used by qualifying machines, giving you a specific reduction in your monthly utility bills. This study complies with all local laws, giving you the maximum exemption as allowed by those laws.
What Are the Requirements?
If you’re thinking about getting a predominant use study in Indiana, it’s essential to explore the requirements to understand whether you will qualify. In general, more than 50 percent of a meter’s usage should go toward the manufacturing process directly. When you’re ready to move forward with your study, you need to work with a qualified contractor who will measure your utility usage and determine the exact percentage of use going toward the manufacturing process. They will supply you with a report that qualifies you for the utility tax exemption.
What Types of Businesses Qualify?
Completing a predominant use study in Indiana is a necessity for many types of businesses. Some of the companies that can qualify for this utility tax exemption may include:
- Manufacturing Facilities
- Some Food Service Companies
- Agricultural and Horticulture Companies
- Educational Institutions
- Religious Facilities
- Nursing Homes
Any company that thinks they may qualify for this exemption should talk to a professional contractor to learn more and decide if they should move forward with a predominant use study.
Resource Box: If you’re looking for a contractor for a predominant use study in Indiana, visit the B. Riley Financial website to learn more.