FUND(S):

General Revenue Fund

Sources of Revenue:

General Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    The stated purpose of this bill is to provide a sales tax exemption for high technology services by removing the requirement that high technology business must be fulfilling a government contract before the sales tax exemption for high technology service applies.
    
    Due to the broader nature of the proposed exemption, passage of this bill could result in a revenue loss of significance to the General Revenue Fund.
    
    Additional administrative costs to the Tax Department would be minimal.
    



Fiscal Note Detail


Effect of Proposal Fiscal Year
2005
Increase/Decrease
(use"-")
2006
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


Explanation of above estimates (including long-range effect):


    Due to the broader nature of the proposed exemption, passage of this bill could result in a revenue loss of significance to the General Revenue Fund.
    
    Additional administrative costs to the Tax Department would be minimal.



Memorandum


     Person submitting Fiscal Note: Mark Muchow
     Email Address: kpetry@tax.state.wv.us