Exemption
Standing timber exclusion
B&O Tax exemption · RCW 82.04.334 · enacted 2007
Details
- Citation
- RCW 82.04.334
- Study reference
- E1065-1
- Tax type
- B&O Tax
- Preference type
- Exemption
- Category
- Business
- Year enacted
- 2007
- End date
- None scheduled
Fiscal impact (2024 study estimates)
- Revenue if repealed — local ($M)
- FY 2024: 0 · FY 2025: 0 · FY 2026: 0 · FY 2027: 0
- Revenue if repealed — state ($M)
- FY 2024: 0 · FY 2025: I · FY 2026: I · FY 2027: I
- Taxpayer savings — local ($M)
- FY 2024: 0 · FY 2025: 0 · FY 2026: 0 · FY 2027: 0
- Taxpayer savings — state ($M)
- FY 2024: I · FY 2025: I · FY 2026: I · FY 2027: I
CTI = confidential taxpayer information · D = unable to disclose
From the 2024 DOR Tax Exemption Study
82.04.334 - Standing timber exclusion Description Sales of standing timber excluded from the definition of “sale” for purposes of real estate excise tax are exempt from B&O tax. Purpose To support Washington’s timber industry. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes Indeterminate Indeterminate Indeterminate Indeterminate 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 Indeterminate Indeterminate Indeterminate Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions The exempt amounts are non-monetary transactions. No data exists for the value of the exempted timber; the impact of this tax preference is indeterminate. Data Sources Department of Revenue, Real estate excise tax data Additional Additional Information Information Category: Business Year Enacted: 2007 Primary Beneficiaries: Integrated wood products companies and real estate investment trusts Taxpayer Count: Unknown Program Inconsistency: None evident JLARC Review: Expedited review completed in 2023 2024 Tax Exemption Stu
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