HB0300

Imposes a 3.5% excise tax on electricity production in Wyoming, creates an electrical generation account for tax proceeds, and exempts electricity sales from sales tax if subject to the new generation tax.

• Levies a 3.5% excise tax on annual gross energy earnings from electricity produced in Wyoming, effective January 1, 2026, paid by the electricity producer. (W.S. 39-24-103, W.S. 39-24-104)
• Exempts electricity produced by the federal government or state of Wyoming, and exempts electricity produced for personal consumption not exceeding 500 kilowatt hours per 24-hour period. (W.S. 39-24-105)
• Requires electricity producers to report annual gross energy earnings and electricity sales by February 1 of the following year, and to pay the tax annually by February 1. (W.S. 39-24-107(a), W.S. 39-24-107(b))
• Establishes interest on delinquent taxes at the average prime rate plus 4%, adjusted annually, with a minimum of 12% and maximum of 18%. (W.S. 39-24-108(b))
• Imposes penalties of 5% per 30-day period for failure to file returns (maximum 25% of tax due) and 5% for negligence or disregard, with provisions for waiver and department discretion. (W.S. 39-24-108(c))
• Creates a lien on property of delinquent taxpayers from the date the tax becomes due until paid, with priority over all liens except valid mortgages or liens recorded before the tax due date. (W.S. 39-24-108(d))
• Allows taxpayers to credit all excise, sales, use, severance, and ad valorem taxes paid in Wyoming against the electrical generation tax, with no refunds if credits exceed tax liability. (W.S. 39-24-109(a))
• Creates the electrical generation account to receive tax proceeds, which shall be invested and may be used by legislative appropriation for local government payments related to foregone sales tax on electricity. (W.S. 39-24-111)
• Exempts sales of electricity from sales tax if the electricity is subject to the electrical generation tax under chapter 24. (W.S. 39-15-105(a)(v)(E))