Analysis Complete for Substitute Senate Bill 5997
Office of the Governor / Office of Financial Management sent this bulletin at 05/09/2019 03:44 PM PDT
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SSB 5997, titled AN ACT Relating to eliminating or narrowing certain tax preferences to increase state revenue for essential public services, 10 year analysis is complete.
The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.
Ten-year projection:
|
Fiscal |
B&O Tax |
Retail Sales Tax |
Total |
|
|
|
||||
|
2020 |
$ 2,323,000 |
$ 25,541,000 |
$ 27,864,000 |
|
|
2021 |
2,614,000 |
28,546,000 |
$ 31,160,000 |
|
|
2022 |
2,712,000 |
29,247,000 |
$ 31,959,000 |
|
|
2023 |
2,810,000 |
29,948,000 |
$ 32,758,000 |
|
|
2024 |
2,907,000 |
30,849,000 |
$ 33,756,000 |
|
|
2025 |
3,004,000 |
31,851,000 |
$ 34,855,000 |
|
|
2026 |
3,101,000 |
32,853,000 |
$ 35,954,000 |
|
|
2027 |
3,198,000 |
33,954,000 |
$ 37,152,000 |
|
|
2028 |
3,194,000 |
35,156,000 |
$ 38,350,000 |
|
|
2029 |
3,295,000 |
34,756,000 |
$ 38,051,000 |
|
|
|
||||
|
Total: |
$ 29,158,000 |
$ 312,701,000 |
$ 341,859,000 |
|