Lawmakers To Look At Sales Tax Exemptions

AP 8-26,2016

Lawmakers are set to review Wyoming’s sales tax exemptions next month, with the possibility of some exemptions being eliminated to boost state revenue.

The Wyoming Tribune Eagle reports ( ) the Joint Revenue Interim Committee will discuss exemptions designated for economic development and other services not currently covered by the sales tax.

The meetings, scheduled for late September, come as the state is trying to recover from major financial losses related to the declining energy industry.

The Wyoming Department of Revenue has estimated that removing several exemptions will bring in hundreds of millions of dollars each year. The extra funds would be split between state and local governments.

Those opposed to removing exemptions say doing so would negatively affect economic development in Wyoming.