Petroleum used prior to 7/1/89

From the 2024 DOR Tax Exemption Study

82.23A.030(4) - Petroleum used prior to 7/1/89 Description Possession of petroleum before the effective date of tax (7/1/1989) is exempt. This exemption expires on July 1, 2030. Purpose This prevents the tax from applying to petroleum, on which the owners did not anticipate having to pay tax. 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 $0.000 Repeal of Repealing this exemption would not increase revenue because currently no exemption taxpayers use it. Potential ($ 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 petroleum products obtained before July 1, 1989, remain in inventory in Washington. Data Sources Department of Revenue, Excise tax data Additional Additional Information Information Category: Business Year Enacted: 1989 Primary Beneficiaries: None Taxpayer Count: 0 Program Inconsistency: None evident JLARC Review: Expedited review completed in 2012 with an upcoming review in 2025 2024 Tax Exemption Study Page 442