Sales and use tax exemptions-reporting requirements.

Summary

The bill adds a reporting requirement for any Wyoming taxpayer who claims sales or use tax exemptions totaling $250,000 or more in a calendar year. Those taxpayers must submit a February 1 report that includes taxes collected, taxes paid, the amount of tax forgone due to exemptions, ad valorem taxes paid, and employee counts and wages. Failure to file forces the taxpayer to repay the tax, pay interest and penalties, and lose the right to claim exemptions for that year.

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