FISCAL NOTE
Date Requested: February 06, 2019 Time Requested: 11:28 AM |
Agency: |
Tax & Revenue Department, WV State |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2847 |
Introduced |
HB2854 |
|
CBD Subject: |
Taxation |
---|
|
FUND(S):
General Revenue Fund, municpal funds
Sources of Revenue:
General Fund municipal funds
Legislation creates:
Decreases Existing Revenue
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to exempt sales by not for profit volunteer school support groups for elementary or secondary schools that hold fund raisers for their schools that last no more than 14 consecutive days and are held no more than 18 times during a rolling 12-month period from the sales and use tax without regard to whether the organization is a 501(c)(3) or (c)(4) tax exempt organization under the Internal Revenue Code.
Passage of this bill would add an exemption for sales by school support groups that hold fundraisers for their schools that last no more than fourteen consecutive days and are held no more than eighteen times during twelve-month period whether the group is a 501(c)(3) or 501(c)(4) organization or not. The State Tax Department does not have sufficient information to determine the revenue loss to the General Revenue Fund or to municipalities that levy a sales tax. We have no information on how many of these groups would be holding such sales or the dollar amount or number of sales they would have. However, we expect the revenue loss to be minimal.
There would be no additional administrative costs incurred by the State Tax Department.
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 |
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 |
0 |
Explanation of above estimates (including long-range effect):
Passage of this bill would add an exemption for sales by school support groups that hold fundraisers for their schools that last no more than fourteen consecutive days and are held no more than eighteen times during twelve-month period whether the group is a 501(c)(3) or 501(c)(4) organization or not. The State Tax Department does not have sufficient information to determine the revenue loss to the General Revenue Fund or to municipalities that levy a sales tax. We have no information on how many of these groups would be holding such sales or the dollar amount or number of sales they would have. However, we expect the revenue loss to be minimal.
There would be no additional administrative costs incurred by the State Tax Department.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov