Grain and unprocessed milk wholesaling

From the 2024 DOR Tax Exemption Study

82.04.332 - Grain and unprocessed milk wholesaling Description Wholesale sales of unprocessed milk and various types of grain and other agricultural products, including wheat, oats, barley, dry peas, dry beans, lentils, and triticale, are exempt from B&O tax. The exemption does not extend to wholesale sales of products manufactured from these products. Farmers who produce and sell such items at wholesale are already exempt. Purpose To assist agriculture. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $6.360 $6.180 $6.010 $5.890 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $5.670 $6.010 $5.890 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 gross value-added farm growth rate reflected in the Economic and Revenue Forecast Council’s March 2023 forecast. Data Sources - Economic and Revenue Forecast Council, March 2023 forecast - U.S. Department of Agricultur