AN ACT relating to taxation and revenue; clarifying the administration of certain taxes by the department of revenue; providing that the department of revenue may credit or waive interest related to mine product taxes; providing that any assessment or levy of sales and use taxes resulting from an audit or review shall be issued within a specified time of the audit or review; and providing for an effective date.
Taxes
Enacted
This bill passed the Legislature and reached final enactment based on the latest official action.
Sponsor
Revenue
Last action
2023-02-15
Official status
enrolled
Effective date
7/1/2023
Plain English Breakdown
The official summary and text do not provide specific details on how the handling of mine product taxes is clarified beyond allowing credit or waiver of interest.
Tax Administration Revisions
This law allows the Department of Revenue to credit or waive interest on severance tax and sets a one-year deadline for issuing sales and use taxes after an audit.
What This Bill Does
Allows the Department of Revenue to credit or waive interest related to mine product taxes, specifically severance tax.
Sets a one-year deadline for the Department of Revenue to issue assessments, levies, penalties, and interest related to sales and use taxes following an audit or review.
Who It Names or Affects
The Department of Revenue
Taxpayers who owe severance tax
Businesses that are audited for sales and use taxes
Terms To Know
severance tax
A tax on the extraction or removal of natural resources from a state.
assessment
The process of determining how much tax is owed by a taxpayer.
Limits and Unknowns
Does not specify what 'good cause' means for waiving interest.
Only applies to audits and reviews completed after the effective date, July 1, 2023.
Amendments
These notes stay tied to the official amendment files and metadata from the legislature.
Plain English: The amendment clarifies that the Department of Revenue may credit or waive interest specifically on severance tax.
Adds 'on severance tax' after each mention of 'interest' in specific lines of pages 2, 3, and 4.
The amendment text does not provide details about the circumstances under which interest on severance tax can be credited or waived.
Bill History
2023-02-15LSO
Assigned Chapter Number 33
2023-02-15Governor
Governor Signed SEA No. 0019
2023-02-14House
H Speaker Signed SEA No. 0019
2023-02-14Senate
S President Signed SEA No. 0019
2023-02-14LSO
Assigned Number SEA No. 0019
2023-02-14House
H 3rd Reading:Passed 61-0-1-0-0
2023-02-13House
H 2nd Reading:Passed
2023-02-10House
H COW:Passed
2023-02-09House
H Placed on General File
2023-02-09House
H03 - Revenue:Recommend Do Pass 9-0-0-0-0
2023-02-07House
H Introduced and Referred to H03 - Revenue
2023-01-17House
H Received for Introduction
2023-01-17Senate
S 3rd Reading:Passed 31-0-0-0-0
2023-01-16Senate
S 2nd Reading:Passed
2023-01-13Senate
S COW:Passed
2023-01-13Senate
S Placed on General File
2023-01-13Senate
S03 - Revenue:Recommend Amend and Do Pass 5-0-0-0-0
2023-01-10Senate
S Introduced and Referred to S03 - Revenue
2022-12-28Senate
S Received for Introduction
2022-12-15LSO
Bill Number Assigned
Official Summary Text
Bill Summary - 23LSO-0404
Bill No.:
SF0063
Effective:
7/1/2023
LSO No.:
23LSO-0404
Enrolled Act No.:
SEA No. 0019
Chapter No.:
33
Prime Sponsor:
Joint Revenue Interim Committee
Catch Title:
Tax administration revisions.
Subject:
Tax administration.
Summary/Major Elements:
This act provides that the Department of Revenue may credit or waive interest related to mine product taxes, which is consistent with the administration of other taxes.
This act provides that the assessment or levy of sales and use taxes, including any penalty or interest, that results from an audit or review shall be issued within one (1) year following the completion of the audit or review, which is consistent with the administration of other taxes.
The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent.
While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.
Current Bill Text
Read the full stored bill text
23LSO-0404
ORIGINAL Senate
File No
.
SF0063
ENROLLED ACT NO. 19,
SENATE
SIXTY-SEVENTH LEGISLATURE OF THE STATE OF WYOMING
2023 General Session
AN ACT relating to taxation and revenue; clarifying the administration of certain taxes by the department of revenue; providing that the department of revenue may credit or waive interest related to mine product taxes; providing that any assessment or levy of sales and use taxes resulting from an audit or review shall be issued within a specified time of the audit or review; and providing for an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1.
W.S. 39
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14
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108(c) by creating a new paragraph (v), 39
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14
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208(c) by creating a new paragraph (v), 39
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14
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308(c) by creating a new paragraph (v), 39
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14
‑
408(c) by creating a new paragraph (v), 39
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14
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508(c) by creating a new paragraph (v), 39
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14
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608(c) by creating a new paragraph (v), 39
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14
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708(c) by creating a new paragraph (v), 39
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15
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108(a) by creating a new paragraph (vi) and 39
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16
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108(a) by creating a new paragraph (vi) are amended to read:
39
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14
‑
108.
Enforcement.
(c)
Interest.
The following shall apply:
(v)
The department may credit or waive any interest on severance tax imposed by this subsection as part of a settlement or for any other good cause.
39
‑
14
‑
208.
Enforcement.
(c)
Interest.
The following shall apply:
(v)
The department may credit or waive any interest on severance tax imposed by this subsection as part of a settlement or for any other good cause.
39
‑
14
‑
308.
Enforcement.
(c)
Interest.
The following shall apply:
(v)
The department may credit or waive any interest on severance tax imposed by this subsection as part of a settlement or for any other good cause.
39
‑
14
‑
408.
Enforcement.
(c)
Interest.
The following shall apply:
(v)
The department may credit or waive any interest on severance tax imposed by this subsection as part of a settlement or for any other good cause.
39
‑
14
‑
508.
Enforcement.
(c)
Interest.
The following shall apply:
(v)
The department may credit or waive any interest on severance tax imposed by this subsection as part of a settlement or for any other good cause.
39
‑
14
‑
608.
Enforcement.
(c)
Interest.
The following shall apply:
(v)
The department may credit or waive any interest on severance tax imposed by this subsection as part of a settlement or for any other good cause.
39
‑
14
‑
708.
Enforcement.
(c)
Interest.
The following shall apply:
(v)
The department may credit or waive any interest on severance tax imposed by this subsection as part of a settlement or for any other good cause.
39
‑
15
‑
108.
Enforcement.
(a)
Audits.
To assess credits and deficiencies against taxpayers and vendors, the department is authorized to rely on final audit findings made by the department of audit, taxpayer information, vendor information or department review subject to the following conditions:
(vi)
Any assessment or levy, including the assessment of a penalty and interest, if any, resulting from final audit findings or department review shall be issued not later than one (1) year following the completion of the audit or review.
39
‑
16
‑
108.
Enforcement.
(a)
Audits. To assess credits and deficiencies against taxpayers and vendors, the department is authorized to rely on final audit findings made by the department of audit, taxpayer information, vendor information or department review subject to the following conditions:
(vi)
Any assessment or levy, including the assessment of a penalty and interest, if any, resulting from final audit findings or department review shall be issued not later than one (1) year following the completion of the audit or review.
Section 2
.
This act is effective July 1, 2023
.
(END)
Speaker of the House
President of the Senate
Governor
TIME APPROVED: _________
DATE APPROVED: _________
I hereby certify that this act originated in the Senate.
Chief Clerk
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