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