Fiscal Note
SB0064 - Income Tax - Capital Gain Transactions
State Impact:
Enactment of this bill will reduce revenue by $400,000 ongoing beginning in FY 2009.
| 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 | ($400,000) | ($400,000) |
| Total | $0 | $0 | $0 | $0 | ($400,000) | ($400,000) |
Individual, Business and/or Local Impact:
Individuals investing proceeds from a long-term or short-term capital gains transaction in a Utah small business corporation will benefit. Small businesses may benefit by having more capital invested from outside sources. There is likely no local impact.
| 1/23/2008, 8:32:03 AM, Lead Analyst: Young, T. | Office of the Legislative Fiscal Analyst |