Representative seeks cut in coal taxes

in News/Taxes

By Cowboy State Daily

A state representative is trying to bring coal taxes more in line with those assessed against oil and gas.

Rep. Tim Hallinan, R-Gillette, is proposing a cut in coal severance taxes from 7 percent to 6.5 percent, a reduction he said was warranted given the fact the coal industry has paid the state almost $1.2 billion in taxes in the last five years.

Hallinan said a 6.5 percent tax rate would bring coal closer to the 6 percent severance tax assessed on oil and gas.

“I saw this a an equity issue and a way we could strengthen the coal industry in my community,” he said.

The reduction would cut Wyoming’s severance tax income by an estimated $13.5 million per year, according to Legislative Service Office estimates.

Hallinan’s bill, HB 167, is awaiting a review from the House Revenue Committee.

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