011-14 Wyo. Code R. §§ 14-21 - Lease or rental of property

(a) The occasional rental of property by an exempt entity, if such rental does not interfere with the use of the property consistent with the exemption standards, will not affect the exemption.

(b) With the exception of (c) and (d) below, the rental of property to an exempt entity (including rental by an exempt entity to an exempt entity) for any gain or profit shall render the property taxable. The commercial use of the property by the owner is part of its total use, and therefore an exemption is not available.

(c) The leasing of publicly owned property is not, of itself, a use for nongovernmental purposes if the primary use is reasonably necessary to the efficient provision of a governmental function or service. The fact a governmental entity accomplishes such function through a lessee will not affect the exemption. If, however, governmental property is used by a lessee for non-governmental purposes, the property is not exempt.

(d) Leased property owned by the State Loan and Investment Board through foreclosure is exempt.

(e) If a lease arrangement results in taxability of property owned by an exempt entity, the exempt entity owes the tax. The lessee shall not be assessed as leaseholds are not subject to taxation.

Notes

011-14 Wyo. Code R. §§ 14-21

Amended, Eff. 4/7/2015. Amended, Eff. 4/17/2024, exp. 8/15/2024 (Emergency). Amended, Eff. 8/15/2024, exp. 12/13/2024 (Emergency). Amended, Eff. 10/23/2024.