The bill proposes the repeal of the sales and use tax on services related to the repair, alteration, or improvement of tangible personal property in Wyoming. Specifically, it amends W.S. 39-16-103 by removing references to these services in both the taxable event and the basis of tax sections. Additionally, it repeals W.S. 39-15-103(a)(i)(J), which likely pertains to the taxation of these services. The Department of Revenue is tasked with adopting necessary rules to implement this repeal by July 1, 2025.

The effective date of the bill is immediate for most provisions, while the specific sections related to the repeal will take effect on July 1, 2025. This legislative change aims to align the state's tax structure with the new policy of exempting certain service-related transactions from sales and use tax, thereby potentially reducing the tax burden on individuals and businesses engaging in repair and improvement services.

Statutes affected:
Introduced: 39-16-103, 39-15-103