FISCAL NOTE

Date Requested: May 16, 2016
Time Requested: 05:21 PM
Agency: Tax Department, State
CBD Number: Version: Bill Number: Resolution Number:
4006 Introduced SB1003
CBD Subject: Taxation


FUND(S):

General Revenue

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 impose the consumers sales and service tax and the use tax on sales of telecommunications service and ancillary services. The proposed bill would have an estimated revenue impact of $55 million in FY2017 and $60 million for each year thereafter at a tax rate of 6 percent. Administrative costs to the State Tax Department will be $15,000 in FY 2017 and $15,000 for each year thereafter.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2016
Increase/Decrease
(use"-")
2017
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 15,000 15,000 15,000
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 55,000,000 60,000,000


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


The proposed bill would have an estimated revenue impact of $55 million in FY2017 and $60 million for each year thereafter at a tax rate of 6 percent. Administrative costs to the State Tax Department will be $15,000 in FY 2017 and $15,000 for each year thereafter.



Memorandum






    Person submitting Fiscal Note: Mark Muchow
    Email Address: kerri.r.petry@wv.gov