HB0005  Severance tax distribution.

The bill provides for distribution of severance taxes over the "cap" of $155 million received in any fiscal year.  The bill distributes the "over the cap" moneys to the general fund, the budget reserve account and to local governments for various purposes including roads, streets and alleys and mineral development impact assistance.

 

SF0005  NAICS manual.

The bill amends the reference to the Northern American Industry Classification System manual from 2003 to 2002 (apparently there is no 2003 version).

 

SF0012  Intangible property.

The bill defines "real property" to include any intangible which contributes to the value of real property.  The bill is for property taxation purposes to authorize the inclusion of intangible value into the real property value.

 

05LSO-0211.C1  Property taxation-intangibles.

This bill addresses the treatment of intangible property for the tax year 2005.  Due to a recent Supreme Court case, the issue of the valuation of intangibles for property taxes is in dispute.  This bill requires the Department of Revenue to exempt the contributory fair market value of all intangible personal property for property taxation purposes for state assessed (industrial) property during the tax year 2005.

 

SF0009 Intangible property taxation –study.

The bill creates a task force to study intangible property for purposes of property taxation.  The task force is to study the entire issue including the history of the treatment of intangibles.  The task force is to report its findings to the governor and the revenue committee by October 1, 2005.

 

HB0014  Streamlined sales tax.

The bill provides extensive amendments to the sales and use tax laws to comply with the Streamlined Sales Tax Agreement (SSTA) of which Wyoming is a member.  The bill includes provisions for voluntary licensing of vendors, enforcement procedures, bad debt procedures, local optional tax guidelines and numerous definitions among other things.

 

05LSO-0267.C1  Property tax relief program.

This bill provides several amendments to the property tax relief program.  The bill only applies to residents of Wyoming for 5 years or longer (down from 10), and provides changes to the financial requirements for applicants to qualify for the program (a person may now have up to $20,000 in qualified household assets, increased from $5,000).

 

05LSO-0220.W2  Sales tax on mineral well services.

The bill exempts oilfield services from sales and use tax.  Old law allowed for an exemption of oilfield services if performed within 250 feet of the well head.  This law would simply exempt all oilfield services.

 

HB0012  Mineral audit period.

The bill specifies time limitations for audits of mineral production.  Authorizes a taxpayer to file amended tax returns during the audit period, but allows such amended returns to be audited.

 

05LSO-0268.W1  Tobacco taxes.

The bill provides extensive enforcement provisions for tobacco tax laws including the control of contraband and counterfeit tobacco products, seizure of such products and the failure to tax tobacco products.  Penalties include fines and imprisonment as well as forfeiture of the tobacco products and equipment.

 

05LSO-0294.C1  Sales & use tax exemption-aircraft.

The bill clarifies the sales and use tax exemption granted to aircraft including the maintenance thereof.  The bill exempts the sale or lease of any aircraft used in a scheduled interstate federal aviation administration air carrier operation including the maintenance thereof.

 

05LSO-0265.C2  Natural gas valuation.

This bill is essentially the same bill that was sponsored by the committee in 2003 (House Bill 87).  The bill addresses the valuation of producer/processed natural gas for taxation purposes.  The bill would require the use of the "netback" method of valuation for such natural gas.