FISCAL NOTE
FUND(S):
Division of Forestry Severance Tax Operations Fund
Sources of Revenue:
Special 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 one and twenty-two hundredths percent severance tax on timber for five years beginning July 1, 2009.
According to our interpretation, passage of this bill would discontinue the Severance Tax on timber levied via W. Va. Code §11-13A-3b for a five-year period. The bill would result in reductions in the Division of Forestry Severance Tax Operations Fund of roughly $1.0 million for fiscal years 2010 through 2014.
Additional administrative costs to the State Tax Department associated with this bill would be minimal.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2009 Increase/Decrease (use"-") |
2010 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 |
-1,000,000 |
-1,000,000 |
Explanation of above estimates (including long-range effect):
Passage of this bill would discontinue the Severance Tax on timber levied via W. Va. Code §11-13A-3b for a five-year period. The bill would result in reductions in the Division of Forestry Severance Tax Operations Fund of roughly $1.0 million for fiscal years 2010 through 2014.
Additional administrative costs to the State Tax Department associated with this bill would be minimal.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kpetry@tax.state.wv.us