Log transportation businesses

From the 2024 DOR Tax Exemption Study

82.16.020(1)(h) - Log transportation businesses Description Businesses transporting logs, not including urban or private road exclusive transportation, receive a preferential public utility tax rate of 1.3696% (including a 7% surtax). Purpose Supports the forest products industry by providing permanent tax relief by lowering the public utility tax rate attributable to log transportation businesses. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.961 $0.993 $1.031 $1.071 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this preferential tax rate would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.910 $1.031 $1.071 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 tax difference between 1.926% and 1.3696% is the measure of revenue gains. - Growth rate mirrors the other public service public utility taxable activity growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. Data Sources - Department of Revenue, E