SF0143 - Sales & use tax distribution-2.
2001 |
State of Wyoming |
01LSO-0532 |
SENATE FILE NO. SF0143
Sales & use tax distribution-2.
Sponsored by: Senator(s) Larson, Coe and Kunz and
Representative(s)
Baker, Luthi and Reese
A BILL
for
1 AN ACT relating to
taxation and revenue; providing for
2 distribution
of sales and use tax distribution as
3
specified; and providing for an 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) and (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%) sixty-seven
5 percent (67%) to the state
general fund except as provided
6 by
subsections (c) and (d) of this section and subject
to
7 subsection (g) of this section;
8
9 (g) If the tax
imposed under W.S. 39-15-104(b) is
10 reduced to one-half of one percent (.5%)
under W.S.
11 39-15-104(d), on and after September 1 of
the year in which
12 the reduction occurs, the distributions to
the state
13 general fund under paragraph (b)(i) of this
section shall
14 be reduced from seventy-two
percent (72%) to sixty-eight 15
percent (68%) sixty-seven percent (67%) to sixty-four
16 percent (64%).
17
18 39-16-111. Distribution.
19
20 (b) Revenues
earned under this article during each
21 fiscal year shall be recognized as revenue
during that
22 fiscal year for accounting purposes. Revenue
collected by
23 the department from the taxes imposed by
this article shall
24 be transferred to the state treasurer who
shall:
Page 2
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%) sixty-seven
5 percent (67%) to the
general fund except as provided by
6 subsections
(d) and (e) of this section and subject to
7 subsection (g) of this section;
8
9 Section 2. This act is effective July 1, 2001.
10
11 (END)
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