FISCAL NOTE
Date Requested: March 13, 2017 Time Requested: 01:17 PM |
Agency: |
Tax & Revenue Department, WV State |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
3109 |
Introduced |
SB593 |
|
CBD Subject: |
State Personnel, Taxation |
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|
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 change the due date for employers to file their annual reconciliation and withholding statements with the Tax Commissioner to January 31, which date is consistent with the date by which employers must file their annual employer withholding reconciliation statements with the Internal Revenue Service; and to require more employers to file W-2 information electronically with the Tax Commissioner. Additionally, obsolete language would be deleted from the current law.
Per our interpretation, there will be no readily measurable revenue impact relating to the passage of this bill. The proposed change would effectively help the State Tax Department curb tax refund fraud.
Additional administrative costs incurred by the State Tax Department are expected to be $10,000 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 |
10,000 |
0 |
Personal Services |
0 |
5,000 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
5,000 |
0 |
2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Per our interpretation, there will be no readily measurable revenue impact relating to the passage of this bill. The proposed change would effectively help the State Tax Department curb tax refund fraud.
Additional administrative costs incurred by the State Tax Department are expected to be $10,000 in FY2018.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov