Taxes paid in other states

From the 2024 DOR Tax Exemption Study

82.21.050(2) - Taxes paid in other states Description A credit is allowed against the hazardous substance tax for any hazardous substance tax paid to another state for the same hazardous substance. The amount of the credit cannot exceed the hazardous substance tax liability for that substance. Purpose To avoid the possibility of double taxation of the same product. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would not increase revenue because federal law prohibits exemption double taxation (of the same product) of businesses operating on an interstate basis. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions No revenue impact. Credits taken for taxes paid in other states cannot be repealed. Data Sources Department of Revenue, Excise tax data Additional Additional Information Information Category: Interstate Commerce Year Enacted: 1989 Primary Beneficiaries: Interstate commerce businesses Taxpayer Count: 0 Program Incon