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