Fiscal Note - State of Utah - 2013 General Session

SB0226 - Sales and Use Tax Amendments

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill may increase sales tax revenue by approximately $550,000 in FY�2014 and FY�2015. Under current law, a portion of sales taxes is set aside for transportation and other purposes. The set-aside would be approximately $235,000 of the revenue generated by this bill. The Legislative General Counsel has attached a Constitutional Note to this bill. If provisions in the bill are challenged in court, there will be costs associated with defending those provisions.

State Budget Detail TableFY 2013FY 2014FY 2015
General Fund$0$315,000$315,000
Restricted Funds$0$235,000$235,000
   Total Revenue$0$550,000$550,000
Net Impact, All Funds (Rev.-Exp.)$0$550,000$550,000
   Net Impact, General/Education Funds (Rev.-Exp.)$0$315,000$315,000

Local Governments (UCA 36-12-13(2)(c)):
Local taxing entities may see increased sales tax revenue of approximately $235,000 in FY 2014 and FY 2015.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Businesses subject to provisions of this bill who are not required to pay or collect and remit sales and use taxes under current state law will pay an increase of approximately $785,000 annually. However, much of this amount may currently be owed by individuals as a use tax on taxable transactions.

Performance Note Required? (Joint Rule 4-2-404): No

3/1/2013, 4:38:07 PM, Lead Analyst: Young, T./Attny: RLROffice of the Legislative Fiscal Analyst