Exported petroleum products

From the 2024 DOR Tax Exemption Study

82.23A.030(6) - Exported petroleum products Description Petroleum products exported for use outside of Washington are exempt from tax. This exemption expires on July 1, 2030. Purpose Restricts application of the petroleum products tax to products used in this state. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $15.243 $17.601 $4.465 $18.480 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 $16.134 $4.465 $18.480 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 average price of crude oil is equivalent to the forecast for the refiners' acquisition price for crude oil reflected in the Economic and Revenue Forecast Council's March 2023 forecast. - The price change of crude oil over time is a proxy for the price change of various other petroleum-based products. - The petroleum products tax will be suspended in July 2025. It is expected to be reactivated in April 2026, and remain on