| Tax Base: Gross Sales (Gross Receipts) | Tax Base: Value Added (Net Receipts) Government and nonprofit employee compensation |
| Rates Multiple Rates, including 0.471% Retailing 0.484% Wholesaling, Mfg. 1.5% Services 0.138% Farm product proc., etc. 0.275% Travel agts., stevedoring 3.3% Disposal of low-level radioactive waste | Rate Single Rate of 2% to 3% |
| Exemptions Farming, Nonprofits, Government Activities taxed under Public Utilities Tax Pari-mutuel Racing Tax Insurance Premiums Tax Some Forestry & Fishing Activities Misc. | Exemptions All exemptions are maintained as-is under the reform, pending a comprehensive review. |
| Deductions No meaningful deductions | Deductions $100,000 standard deduction All purchases from other B&O taxpaying firms Capital equipment and facilities Property rental Purchases from enterprises taxed under “sister” taxes, e.g., Public Utilities Tax |
| Credits Small business High technology | Credits Small business credit subsumed under standard deduction High tech credit continued pending a comprehensive review |
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