Sales tax exemption-livestock semen and embryo transplants.

05LSO-0121.C1

                                                         

FISCAL NOTE

 

	FY 2006	FY 2007	FY 2008
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Decrease:
GENERAL FUND	47,832	49,267	50,745
LOCAL SOURCES FUND	38,122	39,266	40,444

 

Source of revenue decrease:

 

Sales and use tax exemption of livestock semen and embryo transplants purchased for the purpose of breeding livestock.

 

 

Assumptions:

 

The above estimates are based on annual tax revenue for FY 2003 obtained from the Excise Tax System under the appropriate NAICS coding (NAICS code 115210, Support Activities for animal production).

 

The above estimates assume a 3 percent growth rate.

 

This bill is effective immediately. The revenue decreases for the remainder of FY 2005 are estimated at $12,000 to the General Fund and $9,000 to the Local Sources Fund.

 

 

 

 

 

 

Prepared by:   Dean Temte, LSO    Phone:   777-7881

(information provided by Rich Reynders, Dept. of Rev.; phone 777-7904