FISCAL NOTE

Date Requested: March 13, 2017
Time Requested: 01:01 PM
Agency: Tax & Revenue Department, WV State
CBD Number: Version: Bill Number: Resolution Number:
3130 Introduced HB2963
CBD Subject: Taxation


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 eliminate the requirement that the personal representative of a nonresident decedent apply to the Tax Commissioner for a certificate releasing all real property situate in this state from any estate tax lien, because West Virginia does not impose an estate tax or an inheritance tax on estates of persons dying after December 31, 2004. Per our interpretation, there would be no revenue impact relating to the passage of this bill. The proposed bill would lead to a reduction in administrative costs by the State Tax Department of $6,500 in FY2018 and for each year thereafter.



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 -6,500 -6,500
Personal Services 0 -5,000 -5,000
Current Expenses 0 -1,500 -1,500
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0


Explanation of above estimates (including long-range effect):


Per our interpretation, there would be no revenue impact relating to the passage of this bill. The proposed bill would lead to a reduction in administrative costs by the State Tax Department of $6,500 in FY2018 and for each year thereafter.



Memorandum






    Person submitting Fiscal Note: Mark Muchow
    Email Address: kerri.r.petry@wv.gov