HB0113

Exempts insurance damage settlement payments from sales and use taxation in Wyoming.

The bill amends Wyoming statutes to exempt insurance damage settlement payments from sales and use taxation. Specifically, it excludes the amount of any insurance payment used to purchase motor vehicles, house trailers, trailer coaches, trailers, or semitrailers from the sale price of those items if the previous vehicle was acquired by an insurance company due to a damage settlement and the insurance payment is used within ninety days to purchase another vehicle. This exemption applies to nonresidents of Wyoming who intend to remove the vehicle from the state within thirty days of purchase.