10 Year Analysis Complete for 5711
Office of the Governor / Office of Financial Management sent this bulletin at 02/27/2025 02:24 PM PST
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UPDATE: The 10 year analysis for SB 5711, titled AN ACT Relating to defining the rental or lease of individual storage space at self-service storage facilities as a retail transaction for the imposition of business and occupation and sales and use
taxes, has been completed. 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 & occupation tax |
Retail sales tax |
Total |
|
|
|
||||
|
2026 |
$1,100,000 |
$15,100,000 |
$16,200,000 |
|
|
2027 |
$2,800,000 |
$38,600,000 |
$41,400,000 |
|
|
2028 |
$3,000,000 |
$40,800,000 |
$43,800,000 |
|
|
2029 |
$3,100,000 |
$43,300,000 |
$46,400,000 |
|
|
2030 |
$3,300,000 |
$45,800,000 |
$49,100,000 |
|
|
2031 |
$3,500,000 |
$48,500,000 |
$52,000,000 |
|
|
2032 |
$3,700,000 |
$51,300,000 |
$55,000,000 |
|
|
2033 |
$3,900,000 |
$54,400,000 |
$58,300,000 |
|
|
2034 |
$4,200,000 |
$57,600,000 |
$61,800,000 |
|
|
2035 |
$4,400,000 |
$61,000,000 |
$65,400,000 |
|
|
|
||||
|
Total: |
$33,000,000 |
$456,400,000 |
$489,400,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Bill sponsors and contact information:
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp