SB 5002 Summary

• Increases motor fuel tax from 8 cents to 16 cents per gallon (7 cents to 16 cents for aviation gasoline; 5 cents to 10 cents for watercraft fuel)

• Increases cigarette excise tax to 112 mills per cigarette and tobacco product tax to 100 percent of wholesale price; creates new 75 percent excise tax on electronic smoking products with required nicotine labeling

• Increases alcoholic beverage excise taxes: malt beverages from $1.07 to $2.14 per gallon; wine from $2.50 to $5 per gallon; distilled spirits from $12.80 to $25.60 per gallon

• Increases mining license tax rate from 7 percent to 9 percent on net income over $100,000; reduces new mining operation exemption from 3.5 years to 2 years; removes minimum and maximum restrictions on fisheries entry permit annual base fees

• Increases fisheries business tax rates: canned salmon from 4.5 percent to 5.5 percent, processed salmon from 3 percent to 4 percent, floating fisheries from 5 percent to 6 percent; landing tax on non-canned fish species from 3 percent to 4 percent