The bill proposes an exemption from sales tax for electricity sales, contingent upon the imposition of an alternative tax on electricity production. Specifically, it amends W.S. 39-15-103 and W.S. 39-15-105 to include new legal language that establishes this exemption. The exemption for sales of electricity will only be effective if the Department of Revenue determines that an equivalent alternative excise tax is imposed on electricity production, defined as a tax of at least 3.5% of the annual gross energy earnings from energy produced in Wyoming.

The effective date for this act is set for July 1, 2024. The bill aims to create a framework that allows for the taxation of electricity production while providing a corresponding exemption for sales, thereby potentially balancing the tax burden on consumers and producers in the state.

Statutes affected:
Introduced: 39-15-103, 39-15-105