In many cases, a predominant use study consultant will either charge a percentage of the savings that you receive or a flat fee. If your company does not qualify for any utility sales tax exemptions or refunds, you may not even be charged for just a basic evaluation.
In order to determine your tax exemption and refund status, the government requires an evaluation to be completed by an expert. Therefore, you will need to hire a competent licensed consultant to perform a predominant use study for your business.
What to Expect from a Predominant Use Study Consultant
When you hire a licensed consultant to perform a predominant use study for your company, you will receive a number of services. Invoices from a variety of vendors, leasing companies, and suppliers will be reviewed line by line.
Refund requests with the appropriate parties will be handled for you. The amount that you are refunded will reflect the taxes that you should not have paid. In addition, you will also have the necessary documentation to submit to leasing companies, vendors, and suppliers to prove your tax exemption status.
The consultant will evaluate and analyze the utility service metering that you currently have at your facility. During the predominant use study, they will investigate equipment and plant operations by communicating with your employees.
Once the predominant use study has been completed, the consultant will put together the appropriate study documentation. This documentation will include a summary of your equipment and the percentage of the energy being used.
If you are interested in learning more about a predominant use study, we are here to assist at B. Riley Financial, Inc. For more details, visit us now.