Fiscal Note - State of Utah - 2012 General Session
SB0070 - Sales and Use Taxation of Short-term Lodging
State Government (UCA 36-12-13(2)(b)):
Enacting this bill will increase revenue owed to the General Fund by up to $2.02 million in FY 2013 and $2.17 million in FY 2014. Because of nexus problems, all of the tax liability may not be collectable. The bill may increase revenue to the General Fund by an estimated $400,000 in FY 2013 and $430,000 in FY 2014.
| State Budget Detail Table | FY 2012 | FY 2013 | FY 2014 |
| Revenue: | |||
| General Fund | $0 | $430,000 | $430,000 |
| General Fund, One-Time | $0 | ($30,000) | $0 |
| Total Revenue | $0 | $400,000 | $430,000 |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $400,000 | $430,000 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $400,000 | $430,000 |
Local Governments (UCA 36-12-13(2)(c)):
Local governments may see an increase in sales tax and transient room tax revenue of up to $1.92 million in FY 2013 and $2.06 million in FY 2014.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Businesses may see an increase of up to $3.94 million in FY 2013 and $4.23 million in FY 2014 in taxes required to be remitted to the State Tax Commission. Depending upon current practice and the way nexus and non-nexus businesses respond, individuals may see tax increases of up to the amount of the increased business tax liability.
| 2/15/2012, 10:29:31 AM, Lead Analyst: Young, T./Attny: RLR | Office of the Legislative Fiscal Analyst |