I-1107 Rolls Back Taxes on Candy, Bottled Water, Carbonated Beverages
OLYMPIA – Nov. 4, 2010 – Voter approval of Initiative 1107 Tuesday means new taxes on candy, gum, bottled water and carbonated beverages will expire effective Dec. 2, 2010 - 30 days after the election. The initiative also allows processors of food products that contain meat to pay a lower B&O tax rate.
The Department of Revenue will begin notifying retailers and other affected businesses that they should stop collecting the sales tax on candy, gum and bottled water after Dec. 1, and will advise bottlers to cease paying an excise tax on carbonated beverages on Dec. 2.
The estimated fiscal impact of the rollbacks is expected to be $54.8 million for the remainder of Fiscal Year 2011 and $217.6 million for the 2011-2013 Biennium.
The initiative did not provide for any refunds for taxes paid prior to Dec. 2.
The Department will post additional information at http://dor.wa.gov as it becomes available.
# # #