FISCAL NOTE
Date Requested: February 25, 2015 Time Requested: 12:14 PM |
Agency: |
State Tax & Revenue Department |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
3314 |
Introduced |
HB2877 |
|
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 raise to $25,000 the tax liability threshold at which taxpayers must file and pay electronically.
Raising the threshold will not affect revenue. We would anticipate that most businesses who are already filing electronically will elect to continue such practice.
Additional administrative costs to the Tax Department will be $60,000 a year.
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 |
60,000 |
60,000 |
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):
Raising the threshold will not affect revenue. We would anticipate that most businesses who are already filing electronically will elect to continue such practice.
Additional administrative costs to the Tax Department will be $60,000 a year.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov