WY HB0155

Taxpayers claiming certain sales or use tax exemptions totaling $250,000 or more annually must submit reports to the Wyoming Department of Revenue by February 1 of the following year

Required reports must include: sales/use tax collected and paid, amount of tax forgone through exemptions, ad valorem taxes paid in Wyoming, and employee data (number of full-time and part-time workers, average wages and benefits, residency status)

Taxpayers who fail to submit required reports must pay the full amount of tax that would have been owed without the exemptions, plus interest and penalties, and lose eligibility to claim those exemptions for the current year

The Department of Revenue must submit aggregate reports on the collected taxpayer information to the Joint Revenue Interim Committee by August 1, 2027 and annually thereafter

Effective July 1, 2026, applying to exemptions claimed beginning with the 2026 calendar year