Nonfuel uses of crude oil petroleum products

From the 2024 DOR Tax Exemption Study

82.23B.045 - Nonfuel uses of crude oil petroleum products Description Taxpayers may claim a credit against oil spill tax paid on crude oil or petroleum products (1) not used as fuel or (2) used as a component or ingredient in a manufacturing process. Purpose Ensures the tax applies only to crude oil or petroleum used as fuel. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes CTI CTI CTI CTI Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this credit would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 CTI CTI CTI Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions This credit impacts fewer than three taxpayers; any impacts are confidential. Data Sources Department of Revenue, Excise tax data Additional Additional Information Information Category: Tax base Year Enacted: 1991 Primary Beneficiaries: Petroleum refiners Taxpayer Count: Fewer than three Program Inconsistency: None evident JLARC Review: Expedited review completed in 2013 and 2017 2024 Tax Exemption Study Page 431 Chapter 15 Pari-mutuel Tax 2024 Tax Exemption Study Page 432