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Intended audience: Petroleum products possessors in Washington.
On Oct. 1, 2023, the petroleum products tax (PPT) increases from .0015 to .0030. In addition, the fund levels increase for the environmental cleanup account for determining when to suspend and when to reinstate the tax.
Reporting PPT
The PPT applies to the wholesale value of petroleum products at the time of the first non-bulk possession in Washington. The wholesale value is reported on your excise tax return in My DOR.
Fund levels
PPT revenue is deposited in an environmental cleanup account (Pollution Liability Insurance Trust).
When the account balance falls below a certain threshold in the previous calendar quarter, the PPT applies. This quarterly balance threshold goes from $7.5 million to $15 million on Oct. 1, 2023.
When the account balance exceeds a certain threshold in the previous calendar quarter, the PPT is suspended. This quarterly balance threshold goes from $15 million to $30 million on Oct. 1, 2023.
