Taxes paid in other states

From the 2024 DOR Tax Exemption Study

82.64.040 - Taxes paid in other states Description Businesses may take a credit against the syrup tax for similar taxes paid in another state or foreign county. Purpose Avoids double taxation of the same product. 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 $0.000 Repeal of Repealing this credit would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 Minimal Minimal Minimal Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - West Virginia, Arkansas, and the City of Chicago have various carbonated beverage syrup taxes. - There is no data showing carbonated beverage syrup being imported into the state from these areas. - The revenue impacts are unknown but assumed minimal. Data Sources - Department of Revenue, Excise tax data Additional Additional Information Information Category: Tax base Year Enacted: 1989 Primary Beneficiaries: Carbonated beverage syrup importers Taxpayer Count: Unknown Program Inconsistency: None evident JLARC Review: No review completed 2024 Tax Exemption Study Page 1072 Chapt