Wyoming HB0155 mandates reporting requirements for taxpayers claiming sales and use tax exemptions over $250,000.
Wyoming HB0155 amends tax laws to require specific reporting from taxpayers who claim sales and use tax exemptions over $250,000. These taxpayers must submit reports detailing the amount of tax collected, paid, and forgone, along with employee data. Failure to report results in penalties and loss of exemption eligibility. The Department of Revenue must aggregate this data and report it to the Joint Revenue Interim Committee. The act applies to all taxpayers claiming specified exemptions starting from the 2026 calendar year.
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