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 homeowners’ association dues, fees, and assessments from consumers sales and service tax under certain circumstances.
This bill proposes to exempt homeowners’ association dues from the Consumers Sales and Service Tax. As a result, there would be minimal revenue loss to the General Revenue Fund from the passage of this bill.
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 |
2014
Increase/Decrease
(use"-") |
2015
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):
This bill as written, would exempt homeowners’ association dues, fees, and assessments from consumers sales and service tax under certain circumstances.
This bill proposes to exempt homeowners’ association dues from the Consumers Sales and Service Tax. As a result, there would be minimal revenue loss to the General Revenue Fund from the passage of this bill.
There would be no additional administrative costs to the State Tax Department from the passage of this bill.
Memorandum
Person submitting Fiscal Note: Mark B. Muchow
Email Address: Roger.D.Cox@wv.gov