Domestic uses of hazardous substance

From the 2024 DOR Tax Exemption Study

82.21.040(2) - Domestic uses of hazardous substance Description Possession of a hazardous substance by a natural person for personal or domestic purposes is exempt from the hazardous substance tax. Purpose To limit the tax to those using the hazardous substance for business purposes. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.776 $0.789 $0.789 $0.789 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 $0.687 $0.749 $0.749 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. - The total sales or deliveries to residential consumers of No.1 and No.2 of Distillate and Kerosene represent the minimum amount of hazardous substances exempt for domestic use. - The growth rate for the domestic use of hazardous substances decreases by 2.5% annually into the future. - Compliance is assumed to be as follows: - 95% revenue collections in fiscal year 2024 and thereafter. Data Sources - U.S. Energy I