Fiscal Note
SB0028 - Apportionment of Business Income, Attributing Sales to the State, and Deduction of Net Losses by a Unitary Group
State Impact:
Enactment of this bill will decrease Education Fund revenue by $5,000,000 in FY 2009 and by $22,000,000 in FY 2010. When the provisions of the bill are fully phased in the loss to the Education will be approximately $61,000,000.
| Funding Source | FY 2008 Approp. | FY 2009 Approp. | FY 2010 Approp. | FY 2008 Revenue | FY 2009 Revenue | FY 2010 Revenue |
| Education Fund | $0 | $0 | $0 | $0 | ($5,000,000) | ($22,000,000) |
| Total | $0 | $0 | $0 | $0 | ($5,000,000) | ($22,000,000) |
Individual, Business and/or Local Impact:
Business will benefit by being allowed to determine the best method of valuation. Unitary groups could also benefit by being allowed to deduct losses from income tax liabilities in certain instances.
| 1/22/2008, 12:41:29 PM, Lead Analyst: Wilko, A. | Office of the Legislative Fiscal Analyst |