Wyoming – Vendor Compensation Credit Calculation

SALT Report 1742 – The Wyoming Department of Revenue issued guidance regarding the vendor compensation credit as many vendors are calculating their credit amount incorrectly. When completing a monthly or quarterly sales and use tax return, vendors must follow these rules:

  • Report the sales tax due by jurisdiction in Part II prior to calculating the vendor compensation,
  • Column 4 in Part II should be the total sales tax due for each jurisdiction, and
  • Once Part II is completed, proceed to Part I and calculate the vendor compensation credit from the total tax due figure placed in line F

Vendors may take the vendor compensation credit only if the vendor’s return and payment are postmarked by the 15th of the month the tax is due. The credit is 1.95% of the tax due for the first $6,250 and 1% of any amount exceeding $6,250 and is capped at $500 in a single reporting period.

For Further Information:

Wyoming Department of Revenue – Vendor Compensation Credit Guidelines