FISCAL NOTE
Date Requested: February 22, 2016 Time Requested: 03:56 PM |
Agency: |
Lottery Commission |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2882 |
Introduced |
SB672 |
|
CBD Subject: |
Legal Gaming, Taxation |
---|
|
FUND(S):
General Revenue
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.
This bill will increase state revenues by treating traditional lottery prizes [won by nonresidents] as nonresident source income subject to West Virginia personal income tax. The West Virginia State Tax Department is the agency responsible for administering personal income tax collections, and, therefore, is the appropriate agency to address specifics relating to this matter.
The Lottery limits its response to the cost and revenue estimates below; numbers reflect prizes requiring withholding [$5,000 and above] claimed at Lottery headquarters by nonresidents.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2016 Increase/Decrease (use"-") |
2017 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 |
0 |
0 |
2. Estimated Total Revenues |
0 |
0 |
25,000 |
Explanation of above estimates (including long-range effect):
Please see above. Estimated total revenues based on withholdings collected from prizes totaling $5,000 or more.
Memorandum
Please refer to fiscal notes filed by the Department of Revenue and State Tax Department.
Person submitting Fiscal Note: Danielle E. Boyd, Managing General Counsel
Email Address: dboyd@wvlottery.com