The bill amends Wyoming's sales and use tax laws to improve the administration of the use tax and eliminate redundant provisions. It revises key definitions, such as "sale," which now explicitly includes purchases for storage, use, or consumption within the state, and introduces new definitions for "purchase price," "storage," and "use." The definition of "vendor" is updated to include various sellers, such as remote sellers and marketplace facilitators. Additionally, the bill asserts that the state holds exclusive authority to impose taxes on sales and purchases of tangible personal property, preventing local governments from imposing additional taxes in this area.

Further changes include the introduction of a three percent excise tax on sales and purchases, along with an additional one percent excise tax. The bill clarifies compliance requirements for vendors, mandating the acquisition of a sales tax license and the filing of monthly returns detailing gross sales. It also outlines new reporting intervals for vendors, mandates reporting on nicotine product sales, and establishes tax liabilities for individuals who purchase goods without paying the tax. The bill includes provisions for tax revenue distribution to counties and cities, emphasizes state preemption over local retail sales taxation, and introduces additional obligations for nonresident contractors regarding sales tax compliance. The bill is set to take effect on July 1, 2026, and includes various insertions and deletions aimed at streamlining tax administration.

Statutes affected:
26LSO-0201 v0.4: 39-16-101, 39-16-111, 39-16-201, 39-16-211, 39-16-301, 39-16-311