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126th MAINE LEGISLATURE |
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LD 979 |
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LR 1624(01) |
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An Act To Exempt
the Sale of the United States Flag from the Sales Tax |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Rep. Short of Pittsfield |
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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 decrease - General Fund
Current biennium revenue decrease - Other Special Revenue Funds |
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| Fiscal Detail
and Notes |
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Exempting the sale
of the United States flag made entirely of cloth from the sales tax will
reduce General Fund revenue and Municipal Revenue Sharing. A similar bill which did not make a
distinction in the material of the flag that was introduced in the 124th
Legislature had an estimated revenue loss of between $400,000 to
$600,000. Due to the distinction in
this bill, the revenue reduction could be lower. |
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