Revenue Generated by Shrimp Excise Tax - PowerPoint PPT Presentation

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Revenue Generated by Shrimp Excise Tax
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Revenue Generated by Shrimp Excise Tax

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  1. Revenue Generated by Shrimp Excise Tax Presented by: Lee Buckner Economist Louisiana Department of Wildlife and Fisheries

  2. Current Shrimp Excise Tax • 15 cents per 210 pound barrel of “head on” shrimp • Translates to .07 cents per pound • 15 cents per 125 pound barrel of “head off” shrimp • Translates to .12 cents per pound • 15 cents per 75 pounds of “peeled” shrimp • Translates to .20 cents per pound • Tax rate for each form translates to equal tax per shrimp

  3. Pounds of Shrimp Taxed *All forms of shrimp converted to head on weight *Based on Shrimp Tax Database

  4. Source of Shrimp Taxed: Average FY2005-2009 *All forms of shrimp converted to head on weight *Based on FY2005 – FY2009 data from Shrimp Tax Database

  5. Annual Revenue From Shrimp Excise Tax FY2009 revenue = $96,922 Revenue declining 2.9% per year (average FY2004-FY2009) *Based on Shrimp Tax Database

  6. Shrimp Excise Tax Revenue at Different Tax Rates Additional annual revenue from each 10 cent increase per 210 pounds = $64,614 *All forms transformed to head on weight and tax rate *Based on FY2009 data from Shrimp Tax Database