- Most states offer sales and use tax exemptions for manufacturers
- Manufacturers often overlook exemptions for utilities such as electricity, natural gas, and water
- Manufacturing involves transforming raw materials into finished goods through various processes
- A utility study examines utility usage to determine tax-exempt expenses
- Steps to conducting a utility study include understanding regulations, documenting usage, preparing documentation, and submitting refund claims
- It is advisable for businesses to work with tax professionals to ensure compliance with laws
Source: taxconnections.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "United States"
- Why Voluntary Disclosure Agreements Are Key to Reducing Multi-State Sales Tax Risks
- Comprehensive Guide to Michigan Sales Tax: Rates, Nexus, Exemptions, and Compliance Essentials
- Washington Expands Sales Tax to Include New Digital Products Starting October 2025
- Navigating U.S. Invoice Storage and Retention: Federal, State, and Industry-Specific Rules Explained
- Washington State Imposes Sales Tax on Advertising Services, Affecting Digital Marketing Compliance
