Fiscal Note
SB0034 - Amendments to Sales and Use Tax Exemption for Certain Machinery, Equipment, or Parts
State Impact:
Enactment of this bill will increase revenue to the General Fund by $65,000 in FY 2010 and $67,000 in FY 2011.
Funding Source | FY 2009 Approp. | FY 2010 Approp. | FY 2011 Approp. | FY 2009 Revenue | FY 2010 Revenue | FY 2011 Revenue |
General Fund | $0 | $0 | $0 | $0 | $65,000 | $67,000 |
Total | $0 | $0 | $0 | $0 | $65,000 | $67,000 |
Individual, Business and/or Local Impact:
Certain businesses that purchase equipment exempt from sales tax, but do not use the equipment in the state, will now be required to pay sales tax. These businesses will experience an increase in sales tax of $65,000 in FY 2010 and $67,000 in FY 2011. Local governments will experience increased revenue of $28,000 in FY 2010 and $29,000 in FY 2011. Individuals are unaffacted.
1/24/2009, 12:13:50 PM, Lead Analyst: Young, T. | Office of the Legislative Fiscal Analyst |