Manufacturing sales and use tax exemption-
amendments.
25LSO-0040, 1.0
HB0011
FISCAL NOTE
This bill extends the sunset of the sales and use tax exemption for the
sale or lease of machinery used directly and predominantly in manufacturing
tangible personal property to December 31, 2037. This sales and use tax exemption
is scheduled to sunset effective December 31, 2027 under current law.
For FY 2023, the Department of Revenue (DOR) surveyed manufacturers on their use
of the manufacturing exemption in Wyoming for purchases made between July 1, 2022
and June 30, 2023. The DOR received a 38.7% response rate to those surveys. Of
those manufacturers who responded to the survey, exempt purchases from the
manufacturing exemption totaled $4.3 million. It is assumed that 51 percent of
the impact of the exemption would be borne by the General Fund (2.2 million), and
49 percent of impact of the exemption would be borne by local governments (2.1
million).
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Bret Fanning, Department of Revenue, 777-5220)