FISCAL NOTE
FUND(S):
Road Fund
Sources of Revenue:
Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to exempt from the sales tax on motor vehicles any motor vehicle that was purchased prior to January 1, 1920 and manufactured in West Virginia.
The Division queried its vehicle database and found 124 passenger vehicles and 1 Class B truck that were manufactured in 1920 or before. The Division does not know how many of these vehicles were manufactured in West Virginia.
In an earlier fiscal note for antique vehicles the Division had researched the vehicle database and determined that the average tax paid on an antique vehicle was $65.
Not knowing how many of these vehicles might be sold the Division can only estimate that an average of $65 in revenue would be lost per transaction.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2009 Increase/Decrease (use"-") |
2010 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):
REVENUE LOST:
Number of vehicles titled in the DMV
Database that were manufactured in 1920 or earlier 125
Average tax on an antique vehicle $65
Memorandum
Person submitting Fiscal Note: Rick Johnston
Email Address: Rick.M.Johnston@wv.gov