Salmon habitat restoration grants

From the 2024 DOR Tax Exemption Study

82.04.4339 - Salmon habitat restoration grants Description Governmental grants and amounts from Indian tribes received by certain nonprofit organizations for purposes of renewing, restoring, or protecting salmon ecosystems or salmon habitats in Washington are deductible from the gross amount subject to B&O tax. Purpose To encourage restoration of salmon habitat. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.047 $0.048 $0.051 $0.053 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 $0.044 $0.051 $0.053 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 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 Enacted: 2004 P