The bill aims to eliminate the state public utility tax deduction for the in-state portion of interstate transport of petroleum products and crude oil. It amends RCW 82.16.010 by introducing new definitions, including "crude oil," "petroleum products," and "packaged for sale to ultimate consumers," while also clarifying the meaning of "public service business." Additionally, it establishes new sections that specify how gross income from the transportation of petroleum products and crude oil should be apportioned for tax purposes, particularly for businesses operating both within and outside the state.

Specifically, the bill states that amounts derived from the transportation of petroleum products or crude oil that are not packaged for sale to ultimate consumers will not be subject to the existing tax provisions. It outlines a method for apportioning gross income based on revenue miles and traffic units, ensuring that only income from transporting these specific products is included in the tax calculations. The provisions of this act will take effect for amounts received on or after October 1, 2023.

Statutes affected:
Original Bill: 82.16.050
Engrossed Bill: 82.16.010