Sales tax exemption-related business entities.

WORKING DRAFT
2013
STATE OF
WYOMING
13LSO-0115

SENATE FILE
NO.

SF0021

Sales tax exemption-related
business entities
.

Sponsored by:
Senator(s) Bebout

A BILL

for

AN ACT relating to
taxation; providing that t
he
lease
of
tangible
assets
between related business entities

is not subject to taxation
as specified
;

and providing for an effective date.

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

Section 1.
W.S. 3
9
‑
15
‑
101(
a)
(vii) by creating a new subparagraph (M) and by amending and renumbering (M) as (N)
is amended to read:

39
‑
15
‑
101.

Definitions.

(a)

As used in this article:

(vii)

"Sale" means any transfer of possession in this state for a consideration including the fabrication of
tangible personal property when the materials are furnished by the purchaser but excluding an exchange or transfer of tangible personal property upon which the seller has directly or indirectly paid sales or use tax incidental to:

(M)

The transfer or control of tangible personal property
for consideration
for a fixed period of time
between
business
entities with at least eighty percent (80%) common ownership;

(M)
(N)

The sale of a business entity when sold to a purchaser of all or not less than eighty percent (80%) of the value of all of the assets which are located in this state of the business entity when the purchaser continues to use the tangible personal property in the operation of an ongoing business entity in this state. As used in
this subparagraph

subparagraphs (M) and (N) of this section
, "business entity" means and includes an individual, partnership, corporation, corporate division, joint stock company or any other association or entity, public or private, or separate business unit thereof.

Section 2
.
This act is effective
July 1
, 2013.

(END)

1
SF0021