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 exempt all military, National Guard and reserve income from income taxes.
The bill, as written, exempts all military income received by regular Armed Forces, reserves and National Guard personnel from Personal Income Tax. Based on the assumption that this exception includes only active duty and reserve pay and does not include military retirement income, passage of this bill would result in a loss in General Revenue Fund of $5.7 million beginning in Fiscal Year 2012.
There would be no additional administrative costs.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2010
Increase/Decrease
(use"-") |
2011
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 |
-5,700,000 |
Explanation of above estimates (including long-range effect):
The bill, as written, exempts all military income received by regular Armed Forces, reserves and National Guard personnel from Personal Income Tax. Based on the assumption that this exception includes only active duty and reserve pay and does not include military retirement income, passage of this bill would result in a loss in General Revenue Fund of $5.7 million beginning in Fiscal Year 2012.
There would be no additional administrative costs.
Memorandum
The stated purpose of this bill is to exempt all military, National Guard and reserve income from income taxes.
The bill exempts “all military income” It is unclear whether the bill is meant to include military retirement income.
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov