Canned salmon services

From the 2024 DOR Tax Exemption Study

82.04.260(13) - Canned salmon services Description Businesses that inspect, test, label, or store canned salmon owned by another business receive a preferential B&O tax rate of 0.484%, rather than the service and other activities rate of 1.5% or 1.75%. Purpose To provide tax relief for businesses that provide certain services for salmon canners. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.277 $0.288 $0.300 $0.315 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this preference would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.264 $0.300 $0.315 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - Growth rate mirrors the service and other activities B&O taxable activity growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. Data Sources - Department of Revenue, Excise tax data - Economic and Revenue Forecast Council, March 2023 forecast Additional Additional Information Information Category: Business Year Ena