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 sales of veterinary medications from sales tax.
According to our interpretation, there would be no revenue impact from the passage of this bill. Sales of prescription drugs to consumers, whether for human or animal use, are currently exempt from the Consumers Sales Tax under West Virginia Code §11-15-9(a)(11). Also, purchases of prescription drugs by any health care provider (including veterinarians) licensed to prescribe drugs are exempt from sales tax under W.V. Code §11-15-9i.
There would be no additional administrative costs to the State Tax Department from the passage of this bill.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2011 Increase/Decrease (use"-") |
2012 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):
The stated purpose of this bill is to exempt sales of veterinary medications from sales tax.
According to our interpretation, there would be no revenue impact from the passage of this bill. Sales of prescription drugs to consumers, whether for human or animal use, are currently exempt from the Consumers Sales Tax under West Virginia Code §11-15-9(a)(11). Also, purchases of prescription drugs by any health care provider (including veterinarians) licensed to prescribe drugs are exempt from sales tax under W.V. Code §11-15-9i.
There would be no additional administrative costs to the State Tax Department from the passage of this bill.
Memorandum
The stated purpose of this bill is to exempt sales of veterinary medications from sales tax.
Sales of prescription drugs to consumers, whether for human or animal use, are currently exempt from the Consumers Sales Tax under West Virginia Code §11-15-9(a)(11). Also, purchases of prescription drugs by any health care provider (including veterinarians) licensed to prescribe drugs are exempt from sales tax under W.V. Code §11-15-9i.
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov