FISCAL NOTE
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