FISCAL NOTE
Date Requested: February 08, 2017
Time Requested: 05:15 PM |
| Agency: |
Tax & Revenue Department, WV State |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1246 |
Introduced |
HB2111 |
|
|---|
| CBD Subject: |
Professions and Occupations, Taxation |
|---|
|
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 exempt certified professional estimator services from consumer sales and service tax. The bill provides a definition.
This bill adds a new exemption for Consumers Sales and Use Tax for services provided by certified professional estimators. For purposes of this exemption, a certified professional estimator is a person who holds a certificate from the American Society of Professional Estimators and provides professional construction cost consulting services for residential, commercial, industrial or public works construction projects. Based on available data, the revenue loss to the General Revenue Fund would be less than $100,000 per year.
Additional administrative costs to the Tax Department will be $2,000 in FY2018.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2017
Increase/Decrease
(use"-") |
2018
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
2,000 |
0 |
| Personal Services |
0 |
2,000 |
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 |
-100,000 |
-100,000 |
Explanation of above estimates (including long-range effect):
This bill adds a new exemption for Consumers Sales and Use Tax for services provided by certified professional estimators. For purposes of this exemption, a certified professional estimator is a person who holds a certificate from the American Society of Professional Estimators and provides professional construction cost consulting services for residential, commercial, industrial or public works construction projects. Based on available data, the revenue loss to the General Revenue Fund would be less than $100,000 per year.
Additional administrative costs to the Tax Department will be $2,000 in FY2018.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov