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126th MAINE LEGISLATURE |
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LD 720 |
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LR 1277(01) |
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An Act To
Eliminate Sales Tax Exemptions for Snowmobiles and All-terrain Vehicles
Purchased by Nonresidents for Use in the State |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Rep. Marean of Hollis |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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Current biennium revenue increase - General Fund
Current biennium revenue increase - Other Special Revenue Funds |
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| Fiscal Detail
and Notes |
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Eliminating the
sales tax exemptions for all-terrain vehicles and snowmobiles purchased in
the State by nonresidents who are required to register or who store or use
this personal property in the State will increase General Fund revenue and
Municipal Revenue Sharing. Maine
Revenue Services currently estimates the annual General Fund revenue loss
from this exemption at between $50,000 to $249,999. |
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