HB16-1232
Sunset DOR Department Of Revenue Private Letter Ruling & General Information Letter
Concerning continuation of the authority of the executive director of the department of revenue to issue written responses upon the request of a taxpayer.
Session:
2016 Regular Session
Subject:
Bill Summary
Fiscal Policy & Taxes
Currently, the executive director of department of revenue (department), or the executive director's designee, is charged with issuing the following upon written request from a taxpayer:
- Private letter rulings (binding determinations regarding the tax consequences of a proposed or completed transaction); and
- Information letters (nonbinding statements providing general information regarding any tax administered by the department).
This duty is currently scheduled to sunset on September 1, 2016. The act continues the requirement of the department to issue these letters until September 1, 2023.
The act also specifies that the department must track the total state full-time equivalent (FTE) personnel positions necessary and the hours dedicated by each FTE for the issuance, declination, modification, or revocation of all information letters or private letter rulings.
(Note: This summary applies to this bill as enacted.)