While a predominant use study in Wisconsin is a valuable tool for any business, there are certain situations that warrant getting one. If you’ve never had one done before, it’s essential to explore your options and learn as much as you can about the process. The following are some of the situations that warrant requesting a predominant use study.
Qualifying for a Utility Tax Exemption
The primary reason you should consider a predominant use study in Wisconsin is to save money on your utility bills. If your business qualifies for these tax exemptions, you could reduce your monthly bill by a percentage of the utility taxes. The contractors you hire will monitor your utility usage through your gas and electric meters and determine how much of your energy usage goes toward the qualifying equipment. This information allows them to determine if you are eligible for the program and what percentage of your use is tax exempt.
A New Business
While many people associate a predominant use study in Wisconsin with existing businesses, individuals opening a new business can also benefit from the program. However, it’s critical to understand you have to wait until your business is operational and has the equipment you intend to use to give the contractor a clear picture of your business-related energy usage. After completing a predominant use study in Wisconsin, you won’t need to complete another one unless requested.
Resource Box: If you need a predominant use study in Wisconsin, visit the B. Riley Financial website to learn more about the process.
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