Mineral tax-audit interest rate. |
14LSO-0068.C1 |
FISCAL NOTE
No significant fiscal or personnel impact at the state level.
While this bill does not have a fiscal impact at the state level, it will reduce the interest rate that counties may assess on mineral tax audits from 18% to 12%. This interest rate reduction will reduce the interest paid to counties by an estimated $527,500 in FY 2015 and $1,055,000 in FY 2016 and beyond. This estimate is based on the average of audit findings from 2008 to 2012.
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Craig Grenvik; Dept. of Revenue; 777-5237)