Fish tax differential rates

From the 2024 DOR Tax Exemption Study

82.27.020(4) - Fish tax differential rates Description Businesses paying the enhanced food fish tax (including a 7% surtax) may pay a preferential tax rate depending on the species of fish or shellfish and the location of the catch: - Puget Sound chinook, coho and chum salmon, and anadromous game fish, 5.62%. - Ocean waters, Columbia River, Willapa Bay, and Grays Harbor, chinook, coho, and chum salmon and anadromous game fish, 6.69%. - Pink and sockeye salmon, 3.37%. - Sea urchins and sea cucumbers, 2.25%. - Oysters, 0.09%. - All other food fish and shellfish, 2.25%. Purpose Reflects market conditions for various types of fish. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $7.129 $7.129 $7.129 $7.129 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing the preferential rates would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $6.535 $7.129 $7.129 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. - This estimate eliminates the preferential tax rate by inc