Notice of Introduction for Senate Bill 5733 - Update: 10 Year Analysis Complete
Office of the Governor / Office of Financial Management sent this bulletin at 05/09/2023 04:33 PM PDT
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SB 5733, titled AN ACT Relating to creating a business and occupation tax deduction and increasing the tax rate for persons conducting payment card processing activities, 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 |
|
|
|
||
|
2024 |
$43,600,000 |
|
|
2025 |
$50,600,000 |
|
|
2026 |
$53,000,000 |
|
|
2027 |
$55,600,000 |
|
|
2028 |
$57,900,000 |
|
|
2029 |
$60,600,000 |
|
|
2030 |
$63,500,000 |
|
|
2031 |
$66,400,000 |
|
|
2032 |
$69,300,000 |
|
|
2033 |
$72,500,000 |
|
|
|
||
|
Total: |
$593,000,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Bill sponsors and contact information:
Senator Mark Mullet, Prime Sponsor
Democrat
(360) 786-7608
mark.mullet@leg.wa.gov
Senator Lynda Wilson
Republican
(360) 786-7632
lynda.wilson@leg.wa.gov
Senator Chris Gildon
Republican
(360) 786-7648
GILDON_CH@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp