The proposed bill aims to revise Wyoming's sales tax chapter to improve the administration of the use tax by repealing duplicative provisions and making necessary conforming changes. Key amendments include a revised definition of "sale," which now explicitly encompasses purchases for storage, use, or consumption within the state, along with new definitions for "purchase price," "storage," and "use." The bill also clarifies that the state has exclusive authority to impose taxes on sales and purchases of tangible personal property, preventing local governments from levying additional taxes in this area. Additionally, the definition of "vendor" is broadened to include remote sellers and marketplace facilitators, and it outlines the tax obligations for purchasers of tangible personal property and specified digital products.

Moreover, the bill establishes a tax rate of three percent, with an additional one percent excise tax, and sets compliance requirements for vendors, including the necessity to file monthly returns and remit taxes. It allows vendors to request more convenient reporting intervals, mandates reporting of sales of nicotine products, and holds individuals who purchase taxable goods without paying the tax liable for the tax. The bill also introduces provisions for the collection of taxes on motor vehicles, clarifies vendor obligations upon discontinuation of business, and includes a credit for sales tax paid to other states. It mandates record preservation by vendors and individuals liable for taxes, outlines the distribution of tax revenues to counties, and is set to take effect on July 1, 2026.

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