Wyoming 2023 Regular Session

Wyoming House Bill HB0072

Introduced
1/12/23  

Caption

Sales tax revisions.

Note

The bill has been crafted to balance the need for increased funding against the risks of imposing additional financial burdens on citizens. As this bill progresses, it will be crucial to monitor its reception among constituents and its potential implications for local economies in Wyoming.

Impact

One of the notable aspects of HB 0072 is that it grants counties the authority to hold elections aimed at exempting local excise taxes on food for domestic consumption. This provision is designed to allow local jurisdictions to make decisions that could mitigate the effects of the new sales tax on food, potentially providing relief to residents. However, this local option may create disparities between counties, depending on the outcome of such elections and the differing needs of local populations.

Summary

House Bill 0072 introduces revisions to sales and use tax regulations in Wyoming. The bill proposes the application of sales tax to specific services while simultaneously reducing sales and use tax rates. A significant change under this legislation is the repeal of the sales tax exemption on food for domestic consumption, which means that sales tax will now apply to groceries. This change is intended to streamline tax collection but raises concerns about its impact on low-income families who may struggle with the increase in grocery prices due to the tax.

Contention

During discussions leading up to this bill, state lawmakers were divided on the merits of repealing the food tax exemption. Supporters argue that the revisions are necessary for modernizing the tax code and increasing revenue to support essential public services, while opponents raise concerns regarding regressive taxation that disproportionately affects lower-income households. The repeal could lead to pushback from these communities and advocacy groups that prioritize food security and affordable access to basic needs.

Companion Bills

No companion bills found.

Previously Filed As

WY HB0022

Sales tax revisions.

WY HB0197

Sales tax administration revisions.

WY HB0162

County optional tax-affordable housing.

WY HB0229

Electronic payment of sales and use taxes.

WY HB0040

Sales and use tax revisions.

WY SF0042

Taxation of cigars.

WY HB0071

Sales tax holiday-back to school.

WY HB0288

Electrical generation tax and rebate program.

WY HB0052

Revisor's bill.

WY SF0090

Wyoming property tax relief authority.

Similar Bills

No similar bills found.