FISCAL NOTE
Date Requested: January 21, 2019 Time Requested: 03:47 PM |
Agency: |
Tax & Revenue Department, WV State |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
1170 |
Introduced |
HB2318 |
|
CBD Subject: |
Taxation |
---|
|
FUND(S):
Medical School Fund
Sources of Revenue:
Other Fund Medical School Fund
Legislation creates:
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 persons responsible for the taxes on soft drinks and soft drink syrups.
According to our interpretation, passage of this bill would alter the manner in which the Soft Drinks Excise Tax is administered moving completely away from the requirement of indicia on products to the invoice method of payments. There should be no fiscal impact to the Medical School Fund.
Additional administrative costs incurred by the State Tax Department would be $15,000 in FY2019.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2019 Increase/Decrease (use"-") |
2020 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
15,000 |
0 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
15,000 |
0 |
0 |
2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
According to our interpretation, passage of this bill would alter the manner in which the Soft Drinks Excise Tax is administered moving completely away from the requirement of indicia on products to the invoice method of payments. There should be no fiscal impact to the Medical School Fund.
Additional administrative costs incurred by the State Tax Department would be $15,000 in FY2019.
Memorandum
The stated purpose of this bill is to change the persons responsible for the taxes on soft drinks and soft drink syrups.
The title of this bill needs to specify that payment of the Soft Drink Excise Tax will be by the invoice method.
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov