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