Washington SB5054 provides tax exemption for the first 20,000 gallons of wine sold by a winery in Washington.

Washington SB5054 amends the state's tax code to exempt the first 20,000 gallons of wine sold by a winery from certain taxes. This tax exemption aims to support small wineries, which face challenges such as the recent recession, the COVID-19 pandemic, and climate change impacts. The bill includes a performance statement for evaluating the tax preference's effectiveness in promoting small wineries, measured by an increase in the number of wineries, jobs, or tax revenue. If the review shows positive outcomes, the legislature may extend the tax preference.

Washington SB5054 provides tax exemption for the first 20,000 gallons of wine sold by a winery in Washington.

Washington SB5054 amends the state's tax code to exempt the first 20,000 gallons of wine sold by a winery from certain taxes. This tax exemption aims to support small wineries, which face challenges such as the recent recession, the COVID-19 pandemic, and climate change impacts. The bill includes a performance statement for evaluating the tax preference's effectiveness in promoting small wineries, measured by an increase in the number of wineries, jobs, or tax revenue. If the review shows positive outcomes, the legislature may extend the tax preference.