Throughout the state of Missouri, businesses in qualifying industries can complete a predominant use study that allows them to claim a refund and future utility tax exemption.
A predominant use study in Missouri will include water, natural gas, and electricity based on qualifying meters. This is one of the states with the most generous lookback period. Businesses can claim a refund of up to 10 years after the predominant use study is approved.
There are several key times to consider a predominant use study in Missouri. Scheduling these studies with an experienced company is an effective way to reduce operating overhead moving forward.
New Facility or An Existing Facility
A new processing, manufacturing, or other qualifying industry or business should have a predominant use study in Missouri. This is also true for an existing business in a qualifying industry. Many businesses that have the option to complete a predominant use study have not yet done so throughout the state.
After Changes to Processes
Reconfiguring the process, adding new processes, or otherwise changing how equipment and systems utilize water, natural gas, or electricity could potentially change the percentage of qualifying use on each meter. This can increase potential reductions in utility sales taxes moving forward.
Changing Utility Vendors
Changing utility vendors is another time to repeat a predominant use study. This ensures that the data provided to the new supplier is accurate based on the current operation and processes.
For more information on when to schedule a predominant use study in Missouri, talk to the experts at Business Name. Information on our services can be found at our website.
