FISCAL NOTE

Date Requested: March 06, 2017
Time Requested: 11:57 AM
Agency: Tax & Revenue Department, WV State
CBD Number: Version: Bill Number: Resolution Number:
2776 Introduced HB2806
CBD Subject: 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 provide a consumers sales and service tax and use tax exemption for certain services and tangible personal property sold for the repair, remodeling and maintenance of aircraft owned and operated under a fractional ownership program.
    
    Based on our interpretation, the proposed bill would result in a minimal loss of sales taxes for FY2018 and each year thereafter.
    
    One-time costs to the State Tax Department would be $1,500 for FY2018. No substantial annual costs are expected thereafter.
    
    
    



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 1,500 0
Personal Services 0 1,000 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 500 0
2. Estimated Total Revenues 0 0 0


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


    Based on our interpretation, the proposed bill would result in a minimal loss of sales taxes for FY2018 and each year thereafter.
    
    One-time costs to the State Tax Department would be $1,500 for FY2018. No substantial annual costs are expected thereafter.
    



Memorandum


    



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