Reporting on business franchise tax.

SF 42 requires most Wyoming business entities (excluding nonprofits, statutory trusts, and statutory foundations) that file annual reports and pay annual license fees to submit specific financial data to the Secretary of State starting July 1, 2023. Businesses must report four details from the prior tax year: total gross receipts, Wyoming-specific receipts, their federal tax home state, and Wyoming payroll. All reported information is confidential, though aggregated data may be shared with the Department of Revenue and Joint Revenue Committee for legislative planning. The bill mandates the Secretary of State to establish reporting rules by June 30, 2023, with full implementation effective July 1, 2023.