Bill No.: SF0044                  Drafter:  MQ

 

LSO No.:  05LSO-0211              Effective Date:  1/1/2005

 

Enrolled Act No.:  SEA0014

 

Chapter No.:       10

 

Prime Sponsor:     Joint Revenue Interim Committee

 

Catch Title:       Property taxation-intangibles.

 

Subject:  Provides for the taxation of intangible personal property for the tax year 2005.

 

Summary/Major Elements:

 

·        Provides for the treatment of intangible personal property for property taxation purposes for the 2005 tax year.

 

·        Requires intangible personal property to be separately identified by the taxpayer.

 

Comments:

 

1.  Wyoming Supreme Court recently ruled that the definition of intangible property in the statutes for taxation purposes was not limited to the few items listed, so the current status of intangible property taxation is not clear.  This bill provides for the treatment of intangibles for the 2005 tax year while the issue is studied further.

 

2.  See SF 0009 and SF 0012.