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4th Quarter
2004 |
URInformed |
Inside this Issue
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Utility Resources Corporation |
Energy Management Through Volatile Markets Ivan was a Category 4 hurricane as it headed into the Gulf of Mexico, down from a Category 5. The Gulf supplies about 30% of United States oil production according to the Department of the Interior. Gulf states provide half the refining capacity for the U.S. and more than half of U.S. oil imports enter along the Gulf. In preparation, oil producers evacuated most of their workers and shut down production from Gulf platforms. Major refineries in Louisiana and Mississippi were closed as the storm neared landfall. The Louisiana Offshore Oil Port, the primary import facility for the U.S., was also shut down in preparation of the storm. Adding to these elements driving pricing is the continuing sabotage to oil pipelines in northern Iraq and the uncertainty of Iraq’s oil production and exports. Utility Resources Corporation (UR) constantly monitors the supply and financial markets in order to maximize clients’ savings. Market knowledge, timing and experience are critical to businesses saving money and resources through proactive energy management. For over 13 years, UR has managed gas transportation from coast to coast. Our clients take advantage of URSource Energy Management Services® for the following reasons:
UR constantly monitors the supply and financial markets in order to maximize your savings. Telecommunications Sales Tax Savings In a Letter Ruling issued by the Massachusetts Department of Revenue, a telecommunications company was allowed to discount the taxable base for services sold pursuant to a multi-product discount program. Through in-state subsidiaries, the company sold both taxable services (i.e., telecommunications services) and non-taxable services (i.e., cable television services and Internet access). Customers could purchase one or more of these services, as well as other optional features within each service category. If more than one service was purchased, the customer received a “multi-product” discount. Taxable and non-taxable services were separately stated on the retail customer’s bill, as well as the five-dollar discount applicable to each service. The Department ruled that the multi-product discounts given by the company to its retail customers when they purchase more than one service are cash discounts within the meaning of G.L. c. 64H, §1, and 830 CMR 64H.1.4 and could be deducted when calculating the Massachusetts sales tax on telecommunications services. Any customer who purchased products eligible for the multi-product discount but was charged tax on the total without a reduction in accordance with the applicable discount, may request from the seller a refund of the taxes overpaid. Why Are Companies Across the Nation Signing Up for URSmartBill®? URSmartBill® is a comprehensive solution for utility bill processing and payments that accomplishes much more than just paying your bills on time. URSmartBill® provides customized and flexible reporting on all energy consumption, gives regulatory updates specific to your local distribution company and, most importantly, we will have real time information so we can continue to assess your best energy procurement options and reduce your ongoing energy costs. URSmartBill® advantages:
With over 13 years of experience, we are experts at processing utility payments and at obtaining the best possible rates for our clients. As a URSmartBill® client, you will do less work, save money and have a complete database of your energy consumption statistics to help you run your business most effectively. Frequently Asked Questions: Do you visit the facilities involved, or do you accomplish your work through the analysis of bills, tariffs and regulations? UR values your time. As such, most of our work can be done from our offices. If we have questions about a particular facility regarding internal operations, we will communicate with the appropriate contact.
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Telecommunications Sales Tax Savings