Packaged petroleum products

From the 2024 DOR Tax Exemption Study

82.23A.030(7) - Packaged petroleum products Description Petroleum products packaged for sale to ultimate consumers are exempt from the petroleum products tax. This exemption expires on July 1, 2030. Purpose The tax aims to generate funds to provide adequate insurance and funding for programs to clean up discharges from leaking underground petroleum storage tanks. Presumably, packaged products do not have the potential to cause pollution. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes Minimal Minimal Minimal Minimal 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 Minimal Minimal Minimal Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions The revenue impact from the repeal of the exemption on packaged petroleum products is thought to be minimal. Data Sources Department of Revenue, Excise tax data Additional Additional Information Information Category: Tax base Year Enacted: 1989 Primary Beneficiaries: Importers of packaged petroleum products Taxpayer Count: Minimal Program Inconsistenc