WYO Tax Day Report: Not Everyone is Paying Their “Fair Share”
Tuesday, April 15, 2008
Sheridan, WY - Wyoming's tax system needs some tweaking, according to a Tax Day report released today by the Center for Community Development. The report shows the oil, gas and mining industries are enjoying low so-called severance taxes in Wyoming when compared to other states.
Bob LaResche with the Powder River Basin Resource Council says working families are financing the difference through higher property and sales taxes.
"Industry is paying a lower percentage of Wyoming's total tax take than they should be, and individuals are making up the difference and paying more than they should."
LaResche believes non-renewable industries should pay more for their "fair share" because once the assets leave the state they're gone forever. He says other states have changed their tax structures because of concerns about the health of the long-term economy.
"I believe strongly in the wisdom of what Alaska's done: collect enough severance tax while production occurs to allow the state to survive and provide services after the industry is gone."
Some oil and gas companies have rejected calls for higher severance taxes, arguing that they'll just have to take their business to other states if Wyoming raises rates, and that higher rates would mean lost jobs.
get more stories like this via email
Social Issues
Mississippi prisons often lack resources to treat people who are incarcerated with substance-use disorders adequately but a nonprofit organization is …
Social Issues
April is Second Chance Month and many Nebraskans are celebrating passage of a bipartisan voting rights restoration bill and its focus on second chance…
Health and Wellness
New Mexico saw record enrollment numbers for the Affordable Care Act this year and is now setting its sights on lowering out-of-pocket costs - those n…
Social Issues
Residents in a rural North Carolina town grappling with economic challenges are getting a pathway to homeownership. In Enfield, the average annual …
Social Issues
A new poll finds a near 20-year low in the number of voters who say they have a high interest in the 2024 election, with a majority saying they hold …
Social Issues
A case before the U.S. Supreme Court could have implications for the country's growing labor movement. Justices will hear oral arguments in Starbucks …