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May 2017 Legislative Update

The Wyoming Retail Association monitors and engages in all business related legislative issues at the state and federal level, to protect and promote Wyoming’s retail industry. As Wyoming continues to grapple with a $400 million education-funding deficit, the Wyoming Legislature will continue to explore all options to offset the shortfall. Your association is monitoring and participating in these discussions as we head towards the 2018 Legislative Budget Session, set to convene on February 12, 2018.

Current federal issues are detailed elsewhere in this newsletter. Below please find a state level legislative update.

Online Sales Tax Collection
On July 1, 2017 all online retailers selling into Wyoming with more than $100,000 in annual sales or more than 200 transactions annually will have to begin collecting and remitting sales tax, just like their Main Street counterparts. The passage of HB-19 Sales From Remote Sellers was a significant victory for the Wyoming Retail Association and for Main Street Retailers across our state. We continue to monitor this important law as the compliance date draws closer.

Pharmacy
During the 2017 Legislative General Session the Wyoming Pharmacy Act was amended and updated in numerous chapters. The proposed language related to bio similar was problematic for WRA pharmacy members. We were able to work with the bill sponsor and other interested parties to have the bio similar language removed with an agreement that we would work with the Wyoming Board of Pharmacy on agreeable language to be proposed for the 2018 session. The WRA Pharmacy Committee will be meeting in the coming weeks to consider acceptable language to propose in advance of the June Board of Pharmacy meetings in Sheridan.

Joint Revenue Committee-Interim
The Joint Revenue Committee met in Saratoga earlier this month to begin the process of generating revenue ideas to help offset the current economic downturn our state is enduring. The committee has been tasked with generating between $100 million and $300 million in new revenue for the upcoming 2018 budget session. They reviewed the tax structure of surrounding states and plan to revisit “Tax Reform 2000”- a comprehensive review of our tax structure that was generated the last time Wyoming was in a significant economic downturn, later this summer. Chairman Ray Peterson let the audience in attendance know that for their September meeting (Buffalo, WY Sept 11,12 2017) the committee plans to consider a variety of options including increasing the state sales tax, removing tax exemptions, increasing taxes on alcohol and tobacco, corporate/business taxes and gross receipts tax.

As the standing legislative committees continue to meet throughout the interim, the Wyoming Retail Association will be engaged throughout the entire process. Please watch the monthly e-newsletter closely to stay informed as the legislature continues to seek solutions to our existing budgetary deficit.

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Wyoming Retail Association (WRA)
P.O. Box 1003, Cheyenne, WY 82003  Phone: (307) 634-8816, Fax (307) 632-0249