FUND(S):

Municipal

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.


    This bill pertains to Municipal Business and Occupation taxes. It changes the tax base from Gross to Net Income which would significantly reduce the amount of revenue derived from this activity. The exact amounts can not be determined because the amount of cost involved to arrive at the net income figure for tax purposes is unknown at this point. The Auditor's Office does not have the necessary information required to submit a fiscal note for H. B. 2739.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2013
Increase/Decrease
(use"-")
2014
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):


    



Memorandum


    



    Person submitting Fiscal Note: Mack E. Parsons
    Email Address: mack.parsons@wvsao.gov