FISCAL NOTE
Date Requested: February 19, 2015 Time Requested: 03:24 PM |
Agency: |
Tax Department, State |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2987 |
Introduced |
HB2823 |
|
CBD Subject: |
Tax |
---|
|
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 eliminate the street and interurban and electric railways one and four-tenths percent tax.
The repeal of the B&O Tax on street and interurban and electric railways would have no impact on State revenue. There has been no revenue from this portion of the B&O Tax in recent years.
Additional administrative costs to the Tax Department will be $20,000 in FY2016.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2015 Increase/Decrease (use"-") |
2016 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
20,000 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
20,000 |
0 |
2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
The repeal of the B&O Tax on street and interurban and electric railways would have no impact on State revenue. There has been no revenue from this portion of the B&O Tax in recent years.
Additional administrative costs to the Tax Department will be $20,000 in FY2016.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov