130th MAINE LEGISLATURE
LD 1937 LR 2484(05)
An Act To Clarify the Exemption from Income Tax and Withholding Tax Liability for Certain Out-of-state Suppliers of Spirits Purchased by the Bureau of Alcoholic Beverages and Lottery Operations
Fiscal Note for Bill as Engrossed with:
C "A" (S-548)
S "A" (S-637) to C "A" (S-548)
Committee: Taxation
             
Fiscal Note
FY 2021-22 FY 2022-23 Projections  FY 2023-24 Projections  FY 2024-25
Net Cost (Savings)
General Fund $0 $0 $377,150 $388,550
Revenue
General Fund $0 ($365,750) ($377,150) ($388,550)
Other Special Revenue Funds $0 ($19,250) ($19,850) ($20,450)
Transfers
General Fund $0 $365,750 $0 $0
Fiscal Detail and Notes
This bill provides an exemption from income tax to certain manufacturers of spirits or suppliers of spirits located outside of the State and would result in a reduction in General Fund revenue of $365,750 and a reduction in Local Government Fund revenue of $19,250 in fiscal year 2022-23.
The bill includes a one-time transfer from the Liquor Operation Revenue Fund within the Maine Municipal Bond Bank to the unappropriated surplus of the General Fund of $365,750 in fiscal year 2022-23 to offset the General Fund revenue loss in that year. The Liquor Operation Revenue Fund currently has sufficient funding to accommodate the one-time transfer.