LD 441 LR 557(02)
An Act To Make Telecommunications Personal Property Tax Law Equitable
Fiscal Note for Bill as Amended by Committee Amendment "   "
Committee: Taxation
Fiscal Note Required: Yes
Fiscal Note
FY 2011-12 FY 2012-13 Projections  FY 2013-14 Projections  FY 2014-15
Net Cost (Savings)
General Fund $0 $152,518 $305,036 $305,036
General Fund $0 ($152,518) ($305,036) ($305,036)
Fiscal Detail and Notes
Repealing the existing telecommunications tax and establishing an excise tax on telecommunications at 19 mills in fiscal year 2011-12 with provision for later mill adjustments starting in fiscal year 2012-13 by the State Tax Assessor will reduce General Fund revenue starting in fiscal year 2012-13.  Any rulemaking and other administrative costs can be absorbed by Maine Revenue Services within existing budgeted resources.