Supplement: WV HB4723 | 2024 | Regular Session | Tax & Revenue Department, WV State
For additional supplements on West Virginia HB4723 please see the Bill Drafting List
Bill Title: To reduce the business license fee for WV Volunteer Fire Departments to $250
Status: 2024-01-26 - To House Finance [HB4723 Detail]
Download: West_Virginia-2024-HB4723-Tax_Revenue_Department_WV_State.html
The stated purpose of this bill is to reduce the amount paid to the Tax Commissioner for the annual licensure fees to volunteer fire departments for charitable raffles. According to our interpretation, this bill would reduce the licensure fee paid by volunteer fire departments for charitable raffles from $500 to $250. Passage of this bill would result in a reduction of $10,000 per year to the special revenue account funding the investigatory activities of the Criminal Investigation Division and the Special Audits Division of the Tax Department paid by volunteer fire departments. Additional administrative costs incurred by the State Tax Department would be $15,000 in FY2024.
According to our interpretation, this bill would reduce the licensure fee paid by volunteer fire departments for charitable raffles from $500 to $250. Passage of this bill would result in a reduction of $10,000 per year to the special revenue account funding the investigatory activities of the Criminal Investigation Division and the Special Audits Division of the Tax Department paid by volunteer fire departments. Additional administrative costs incurred by the State Tax Department would be $15,000 in FY2024.
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov
Bill Title: To reduce the business license fee for WV Volunteer Fire Departments to $250
Status: 2024-01-26 - To House Finance [HB4723 Detail]
Download: West_Virginia-2024-HB4723-Tax_Revenue_Department_WV_State.html
FISCAL NOTE
Date Requested: January 15, 2024 Time Requested: 04:49 PM |
|
FUND(S):
Special AccountSources of Revenue:
Special FundLegislation creates:
Decreases Existing Revenue, Increases Existing ExpensesFiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The stated purpose of this bill is to reduce the amount paid to the Tax Commissioner for the annual licensure fees to volunteer fire departments for charitable raffles. According to our interpretation, this bill would reduce the licensure fee paid by volunteer fire departments for charitable raffles from $500 to $250. Passage of this bill would result in a reduction of $10,000 per year to the special revenue account funding the investigatory activities of the Criminal Investigation Division and the Special Audits Division of the Tax Department paid by volunteer fire departments. Additional administrative costs incurred by the State Tax Department would be $15,000 in FY2024.
Fiscal Note Detail
Effect of Proposal | Fiscal Year | ||
---|---|---|---|
2024 Increase/Decrease (use"-") |
2025 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) | |
1. Estmated Total Cost | 15,000 | 0 | 0 |
Personal Services | 0 | 0 | 0 |
Current Expenses | 0 | 0 | 0 |
Repairs and Alterations | 0 | 0 | 0 |
Assets | 0 | 0 | 0 |
Other | 15,000 | 0 | 0 |
2. Estimated Total Revenues | 0 | -10,000 | -10,000 |
Explanation of above estimates (including long-range effect):
According to our interpretation, this bill would reduce the licensure fee paid by volunteer fire departments for charitable raffles from $500 to $250. Passage of this bill would result in a reduction of $10,000 per year to the special revenue account funding the investigatory activities of the Criminal Investigation Division and the Special Audits Division of the Tax Department paid by volunteer fire departments. Additional administrative costs incurred by the State Tax Department would be $15,000 in FY2024.
Memorandum
Person submitting Fiscal Note: Mark Muchow
Email Address: kerri.r.petry@wv.gov