Notice of Introduction for Substitute Senate Bill 5375 - Update: 10 Year Analysis Complete
Office of the Governor / Office of Financial Management sent this bulletin at 05/08/2023 09:38 AM PDT
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SSB 5375, titled AN ACT Relating to taxation of low-proof beverages, has been introduced in the Senate. 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 |
Business and occupation tax |
Low-Proof Beverages Tax |
Retail sales tax |
Total |
|
|
|
|||||
|
2024 |
$8,000 |
$1,372,559 |
$601,000 |
$1,981,559 |
|
|
2025 |
$21,000 |
$1,372,559 |
$1,502,000 |
$2,895,559 |
|
|
2026 |
$22,000 |
$1,372,559 |
$1,603,000 |
$2,997,559 |
|
|
2027 |
$24,000 |
$1,372,559 |
$1,803,000 |
$3,199,559 |
|
|
2028 |
$25,000 |
$1,372,559 |
$1,903,000 |
$3,300,559 |
|
|
2029 |
$27,000 |
$1,372,559 |
$2,103,000 |
$3,502,559 |
|
|
2030 |
$29,000 |
$1,372,559 |
$2,304,000 |
$3,705,559 |
|
|
2031 |
$31,000 |
$1,372,559 |
$2,504,000 |
$3,907,559 |
|
|
2032 |
$33,000 |
$1,372,559 |
$2,704,000 |
$4,109,559 |
|
|
2033 |
$36,000 |
$1,372,559 |
$3,005,000 |
$4,413,559 |
|
|
|
|||||
|
Total: |
$256,000 |
$13,725,590 |
$20,032,000 |
$34,013,590 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Liquor and Cannabis Board
The substitute bill was proposed by:
Senate Committee on Labor & Commerce
(360) 786-7426
The original bill sponsors and contact information are:
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp