Sales tax on certain food items. |
11LSO-0348.L1 |
FISCAL NOTE
|
FY 2012 |
FY 2013 |
FY 2014 |
NON-ADMINISTRATIVE IMPACT |
|
|
|
Anticipated Revenue (Decrease): |
|
|
|
GENERAL FUND |
(142,600) |
(146,900) |
(147,600) |
LOCAL SOURCES FUND |
(138,000) |
(142,100) |
(142,800) |
Source of revenue decrease:
Revenue decrease from exempting some vending machine sales from the taxation of food
Assumptions:
The above estimates are based on actual FY 2010 sales and use taxes for NAICS Code 4542 (Vending Machine Operators). Actual FY 2010 sales and use taxes were projected forward using the January 2011 CREG estimates for sales and use tax. Projections were allocated between General Fund and local governments based on actual FY 2010 sales and use taxes for NAICS Code 4542.
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Dan Noble, Dept. of Revenue; 777-5220)