Date Requested:March 23, 2005
Time Requested:03:20 PM
Agency: State Tax Department
CBD Number: Version: Bill Number: Resolution Number:
2005R1960 Intro SB689
CBD Subject: Sales Tax Exemption for High Technology
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
Over-all effect
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
3. 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