Fiscal Note - State of Utah - 2013 General Session
SB0247 - Amendments to Revenue and Taxation
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill saves the Tax Commission $245,000 in dues and participation fees. Depending on the year and whether the Auditing Division would impose certain assessments absent the Multistate Tax Compact, enactment of this bill may reduce sales and corporate income tax revenue by as little as $75,000 and up to $1.6 million annually.
| State Budget Detail Table | FY 2013 | FY 2014 | FY 2015 |
| Revenue | $0 | $0 | $0 |
| Expenditure: | |||
| General Fund | $0 | ($126,000) | ($126,000) |
| General Fund, One-Time | $0 | $62,900 | $0 |
| General Fund Restricted | $0 | ($21,800) | ($43,700) |
| Education Fund | $0 | ($75,300) | ($75,300) |
| Education Fund, One-Time | $0 | $37,700 | $0 |
| Total Expenditure | $0 | ($122,500) | ($245,000) |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $122,500 | $245,000 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $100,700 | $201,300 |
Local Governments (UCA 36-12-13(2)(c)):
Depending on the year and whether the Auditing Division would impose certain assessments absent the Multistate Tax Compact, enactment of this bill may reduce local sales tax revenue by as little as $16,000 and up to $67,000 annually.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Depending on the year and whether the Auditing Division would impose certain assessments absent the Multistate Tax Compact, enactment of this bill may reduce what otherwise would have been sales and corporate income tax liability from as little as $91,000 and up to $1.7 million annually.
Performance Note Required? (Joint Rule 4-2-404): No
| 3/1/2013, 4:37:51 PM, Lead Analyst: Young, T./Attny: RLR | Office of the Legislative Fiscal Analyst |