Notice of Introduction for Senate Bill 6196 - Update: 10 Year Analysis Complete

Office of Financial Management

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UPDATE: The 10 year analysis for SB 6196, titled AN ACT Relating to the taxation of kratom, 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
Year

   Business and occupation tax

   Kratom tax

   Retail sales tax

Total

 

2026

$0

$0

$0

$0

2027

($12,000)

$2,989,000

($155,000)

$2,822,000

2028

($31,000)

$6,575,000

($409,000)

$6,135,000

2029

($35,000)

$7,233,000

($450,000)

$6,748,000

2030

($38,000)

$7,956,000

($495,000)

$7,423,000

2031

($42,000)

$8,752,000

($544,000)

$8,166,000

2032

($46,000)

$9,627,000

($599,000)

$8,982,000

2033

($51,000)

$10,590,000

($658,000)

$9,881,000

2034

($56,000)

$11,649,000

($724,000)

$10,869,000

2035

($61,000)

$12,814,000

($796,000)

$11,957,000

 

Total:

($372,000)

$78,185,000

($4,830,000)

$72,983,000


Ten-year projection prepared in consultation with the following agencies:

Department of Revenue


Bill sponsors and contact information:

Senator Rebecca Saldaña, Prime Sponsor
Democrat
(360) 786-7688
rebecca.saldana@leg.wa.gov

Senator Yasmin Trudeau
Democrat
(360) 786-7652
yasmin.trudeau@leg.wa.gov

Senator Javier Valdez
Democrat
(360) 786-7690
javier.valdez@leg.wa.gov




Legislative Bill Information Website: http://apps.leg.wa.gov/billinfo/

Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp