Presented by:Lee Buckner

EconomistLouisiana Department of Wildlife and

Fisheries

Current Shrimp Excise Tax15 cents per 210 pound barrel of “head on” shrimp

Translates to .07 cents per pound

15 cents per 125 pound barrel of “head off” shrimpTranslates to .12 cents per pound

15 cents per 75 pounds of “peeled” shrimpTranslates to .20 cents per pound

Tax rate for each form translates to equal tax per shrimp

Pounds of Shrimp Taxed

*All forms of shrimp converted to head on weight*Based on Shrimp Tax Database

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

Annual Revenue From Shrimp Excise Tax

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

Shrimp Excise Tax Revenue at Different Tax RatesCurrent Rate (15 cents/210 lbs, .07 cents/lb) $ 96,921.63 Revenue if 25 cents/210 lbs, .12 cents/lb $ 161,536.05 Revenue if 35 cents/210 lbs, .17 cents/lb $ 226,150.47 Revenue if 45 cents/210 lbs, .21 cents/lb $ 290,764.89 Revenue if 55 cents/210 lbs, .26 cents/lb $ 355,379.31 Revenue if 65 cents/210 lbs, .31 cents/lb $ 419,993.73 Revenue if 75 cents/210 lbs, .36 cents/lb $ 484,608.15

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