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 remove the consumer’s sales tax on sales of clothing. The tax commissioner is authorized to propose rules to further the intent of the article.
    
    According to our interpretation and based on available data, passage of this bill would result in a loss to the General Revenue Fund of $77.3 million.
    
    Additional administrative costs to the Tax Department associated with this bill would be minimal.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2005
Increase/Decrease
(use"-")
2006
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 4,000 0 0
Personal Services 0 0 0
Current Expenses 4,000 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 -77,300,000 -77,300,000


Explanation of above estimates (including long-range effect):


    According to our interpretation and based on available data, passage of this bill would result in a loss to the General Revenue Fund of $77.3 million.
    
    Additional administrative costs to the Tax Department associated with this bill would be minimal.



Memorandum


    



    Person submitting Fiscal Note: Mark Muchow
    Email Address: kpetry@tax.state.wv.us