HB0168 - Sales & use tax distribution.

 

2001

State of Wyoming

01LSO-0317

 

 

 

HOUSE BILL NO.  HB0168

 

 

Sales & use tax distribution.

 

Sponsored by:  Representative(s) Reese, Illoway, McGraw,
Meuli, Meyer, Ross and Thompson and
Senator(s) Larson and Massie

 

 

A BILL

 

for

 

 1  AN ACT relating to taxation and revenue; amending the
 2  distribution of sales and use taxes; and providing for an
 3  effective date.

 4 

 5  Be It Enacted by the Legislature of the State of Wyoming:

 6 

 7         Section 1.  W.S. 39-15-111(b)(i), (g) and
 8  39-16-111(b)(i) are amended to read:

 9 

10         39-15-111.  Distribution.

11 

12         (b)  Revenues earned under W.S. 39-15-104 during each
13  fiscal year shall be recognized as revenue during that
14  fiscal year for accounting purposes. Revenue collected by
15  the department under W.S. 39-15-104 shall be transferred to
16  the state treasurer who shall:

 

Page  1

 

 

 

 1 

 2              (i)  Until June 30, 1993, credit sixty-five
 3  percent (65%) and thereafter, subject to subsection (g) of
 4  this section, credit seventy-two percent (72%) seventy
 5  percent (70%) to the state general fund except as provided
 6  by subsections (c) and (d) of this section;

 7 

 8         (g)  If the tax imposed under W.S. 39-15-104(b) is
 9  reduced to one-half of one percent (.5%) under W.S.
10  39-15-104(d), on and after September 1 of the year in which
11  the reduction occurs, the distributions to the state
12  general fund under paragraph (b)(i) of this section shall
13  be reduced from seventy-two percent (72%) seventy percent
14  (70%) to sixty-eight percent (68%).

15 

16         39-16-111.  Distribution.

17 

18         (b)  Revenues earned under this article during each
19  fiscal year shall be recognized as revenue during that
20  fiscal year for accounting purposes. Revenue collected by
21  the department from the taxes imposed by this article shall
22  be transferred to the state treasurer who shall:

23 

 

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 1  (i)  Until June 30, 1993, credit sixty-five
 2  percent (65%) and thereafter, subject to subsection (g) of
 3  this section, credit seventy-two percent (72%) seventy
 4  percent (70%) to the general fund except as provided by
 5  subsections (d) and (e) of this section;

 6 

 7         Section 2.  This act is effective July 1, 2001.

 8 

 9                         (END)

 

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