FISCAL NOTE
Date Requested: February 24, 2015 Time Requested: 01:57 PM |
Agency: |
Tax Department, State |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
3173 |
Introduced |
HB2900 |
|
CBD Subject: |
Tax |
---|
|
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.
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 State Tax Department will be $20,000 in FY2016.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2015 Increase/Decrease (use"-") |
2016 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
0 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
20,000 |
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 State Tax Department will be $20,000 in FY2016.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov