Fuel used in commercial vessels

From the 2024 DOR Tax Exemption Study

82.04.433 - Fuel used in commercial vessels Description Businesses selling marine fuel to vessels primarily used in foreign commerce and waters may deduct income subject to B&O tax. Purpose Treats income from marine fuel sales to vessels leaving Washington the same as goods delivered out-of-state. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $3.100 $2.910 $2.750 $2.620 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this deduction would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $2.670 $2.750 $2.620 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 oil price 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 - U.S. Energy Information Administration, Petroleum data Additional Additional Information Information Category: Business Year Enacted: 1985 Primary Beneficiaries: