There are different programs offered through the state of Indiana that provide benefits to a business. Some of these programs are for all businesses, while others are provided only to specific industry sectors.
The ability to apply for utility sales tax exemptions and refunds is only offered to businesses in the state involved in the manufacturing, processing, and production industries. Obtaining the utility sales tax exemption and applying for the refund starts with a predominant use study In Indiana.
100% Reduction Possible
Unlike some states, qualifying businesses in Indiana can receive up to a one hundred percent reduction in utility sales tax exemptions. Any meter that supplies water, electricity, or natural gas to at least 50% of qualifying processes will receive complete elimination of utility sales tax exemptions for that meter.
In addition, the business can apply for a refund of sales taxes paid on those qualifying meters for the past 36 months.
If the utility is used less than 50% for qualifying processes, the company receives that percentage of utility sales tax exemption on the meter. However, meters with less than 50% use for qualifying processes are not eligible for the refund on utility sales tax already paid by the business.
Hiring a Professional Service
While it is possible to complete a predominant use study in-house, this is a very specific type of process that includes data collection, analysis, synthesis, and verification. Working with a professional service that provides predominant use study in the state saves the company time, money, and stress.
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