The bill amends the distribution rates for sales and use taxes in Wyoming, specifically adjusting the percentages allocated to the state general fund and local governments. It reduces the percentage credited to the state general fund from sixty-nine percent (69%) to sixty-five percent (65%) for revenues collected under W.S. 39-15-104 and W.S. 39-16-104. Additionally, the bill increases the percentage of sales taxes collected from out-of-state vendors distributed to counties, cities, and towns from thirty-one percent (31%) to thirty-five percent (35%). The bill also removes obsolete statutory language related to previous distribution rates that were applicable until June 30, 2004.

The changes outlined in the bill will take effect for distributions of sales and use taxes collected on or after July 1, 2025. This means that the new distribution rates will not be applied until that date, allowing for a transition period before the updated percentages are implemented. Overall, the bill aims to modernize the tax distribution framework in Wyoming while ensuring that local governments receive a larger share of revenue from out-of-state sales.

Statutes affected:
Introduced: 39-15-111, 39-16-111
Engrossed: 39-15-111, 39-16-111