10 Year Analysis Complete for Senate Bill 5814
Office of the Governor / Office of Financial Management sent this bulletin at 04/16/2025 08:10 PM PDT
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UPDATE: The 10 year analysis for SB 5814, titled AN ACT Relating to funding public schools, health care, social services, and other programs and services to benefit Washingtonians by modernizing the excise taxes on select services and nicotine products
and requiring certain large businesses to make a one-time prepayment of state sales tax collection, 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 and Occupation Tax |
Other Tobacco Products Tax |
Retail Sales Tax |
Total |
|
|
|
|||||
|
2026 |
($208,795,000) |
$15,200,000 |
$968,684,000 |
$775,089,000 |
|
|
2027 |
($332,298,000) |
$39,100,000 |
$2,387,378,000 |
$2,094,180,000 |
|
|
2028 |
($347,122,000) |
$42,200,000 |
$759,822,000 |
$454,900,000 |
|
|
2029 |
($361,414,000) |
$45,600,000 |
$1,674,245,000 |
$1,358,431,000 |
|
|
2030 |
($376,183,000) |
$49,300,000 |
$1,741,856,000 |
$1,414,973,000 |
|
|
2031 |
($391,603,000) |
$53,300,000 |
$1,813,258,000 |
$1,474,955,000 |
|
|
2032 |
($407,594,000) |
$57,800,000 |
$1,887,259,000 |
$1,537,465,000 |
|
|
2033 |
($424,457,000) |
$62,600,000 |
$1,964,307,000 |
$1,602,450,000 |
|
|
2034 |
($441,709,000) |
$67,900,000 |
$2,044,746,000 |
$1,670,937,000 |
|
|
2035 |
($459,858,000) |
$73,600,000 |
$2,133,365,000 |
$1,747,107,000 |
|
|
|
|||||
|
Total: |
($3,751,033,000) |
$506,600,000 |
$17,374,920,000 |
$14,130,487,000 |
|
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