Appendix 1 Worksheet - Annual Report
List only Assets Located and Employed in Wyoming
A balance sheet is provided below (similar to Schedule L of IRS Form 1120, 1120S, or Form 1065 for partnerships) showing the items to be included in computing "total assets" (with the three exceptions): 1. 2a. 2b. 3. 4. 5. 6. 7. 8. 9. 10. Cash Trade Notes & Accounts Receivable $_______________ Subtract Allowance for bad debts $(_____________) Inventories U.S. Government Obligations Tax-Exempt Securities Other Current Assets Loans to Stockholders (loans the company made to its shareholders) Mortgage and Real Estate Loans (loans or investments owned, not your debts) Other Investments Buildings and Other Depreciable Tangible Assets, real and personal (USE ASSESSED VALUATION.) DO NOT subtract accumulated depreciation from assessed valuation. For depreciable assets which are not assessed, use balance sheet with depreciation subtracted. Depletable assets (soda, coal, mineral oil, precious metals, saline, or other valuable deposits); the value is equal to the assessed value of the gross product produced for the fiscal year most recently ended. Land (USE ASSESSED VALUATION.) Intangible Assets $_______________ Subtract Accumulated Amortization $(_____________) Other Assets TOTAL ASSET VALUE FOR COMPUTING TAX (Add lines 1 - 14) $________________ $________________ $________________ $________________ $________________ $________________ $________________ $________________ $________________
12. 13a. 13b. 14. 15.
$_______________ $_______________ $_______________ $_______________ $_______________
The fee is $50 or two-tenths of one mill on the dollar ($.0002) whichever is greater.
Annual Report and License Tax Rules Section 1. Definitions. (a) "Assessed value" is the taxable value of an asset subject to a Wyoming ad valorem tax as defined by W.S. 39-11-101(a)(i) as shown on the annual assessment schedule prepared by the County Assessor. Generally, assets which have an assessed value are reported on line 10 (buildings and other depreciable assets) and line 12 (land) on a corporation's balance sheet. (b) "Balance sheet value" is the end of tax year value of an asset entered on the company's balance sheet. Balance sheet value shall be reported as contemplated in W.S. 17-16-1630 which states: (i) "Financial information in the annual report shall be current as of the end of the corporation's fiscal year immediately preceding the date the annual report is executed on behalf of the corporation." (c) "Capital, property and assets" does not include the value of the corporation's stock, net worth, or the net equity of the corporation. Capital, property and assets means "total assets" from the company's balance sheet (similar to line 15 of Schedule L of IRS Form 1120 or 1120S) for the year most recently ended with three EXCEPTIONS: (i) For "Depreciable assets" (line 10) use the assessed value for any asset having an assessed value (buildings or improvements) and use balance sheet value less accumulated depreciation for assets with no assessed value. Depreciation shall not be deducted from "assessed value." (ii) For "Depletable assets" (line 11) like soda, coal, mineral oil, silver or gold, use the "assessed value" of the gross product from the mine or mining claim (amount shown on Wyoming State Department of Revenue annual gross products tax return), not the balance sheet value. (iii) For "Land" (line 12) use the assessed value not the balance sheet value. Section 2. Computation of License Tax. (a) A corporation whose entire assets are located in Wyoming shall complete the worksheet (Appendix 1) and then apply the total asset figure to the following tax schedule. A corporation whose assets are in Wyoming and in other states shall use balance sheet values for any assets located in Wyoming (with the three exceptions described in Section 1 (c) of these rules) and apply the asset figure to the following tax schedule. (b) The fee is $50 or two-tenths of one mill on the dollar ($.0002) whichever is greater. (c) The worksheet (Appendix 1) is incorporated herein by reference. This worksheet which discloses proprietary information is not a public record under the Public Records Act, W.S. 16-4-203(d)(v), and therefore is not disclosable to the public. (d) The figures submitted on the Secretary of State's annual report form are public records and will be disclosed.