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corporate income tax

Revenue Committee looks again at corporate income tax

in News/Taxes
2062

A legislative committee is once again studying a proposal to impose an income tax on so-called “big block” stores.

The Legislature’s Joint Revenue Committee will take testimony on the proposal during its meeting in Pinedale this week. Members will decide whether to forward the bill to the Legislature during their meeting in November.

Under consideration is a measure similar to one killed in the Legislature this year. It would impose a 7 percent corporate income tax on companies with more than 100 shareholders.

In debates on the bill during the Legislature’s general session earlier this year, backers said national companies that do business in Wyoming have already built the cost of corporate income taxes assessed in other states into the price of goods sold in Wyoming. Supporters said the new tax would simply amount to Wyoming collecting its share of those taxes on purchases made in the state.

The measure is expected to bring another $45 million into the state and Tammy Johnson of the Wyoming Education Association said the money would go a long way toward funding education.

“(It is) the equivalent of funding 600 teaching positions for one year,” she said. “It’s the equivalent of funding a (Class) 3A school district for one year. It’s a lot of money. And it’s needed by the people of Wyoming to fund education, which is a fundamental right in Wyoming.”

Chris Brown of the Wyoming Retailers Association said his group just wants the Legislature to make sure any tax measure adopted is fair to all.

“Not one that picks winners and losers and treats businesses competing for the same customers different on a tax basis,” he said.

Johnson said since the companies that would be affected by the tax are already building the cost of taxes into their products, it just makes sense for Wyoming to collect its share of the revenue.

But Brown disagreed.

“To suggest that this is a tax that’s already being paid and Wyoming is just going to get its share back is incorrect,” he said. “Make no mistake, this is a brand new tax that, if this bill is passed, will be applied to some businesses in Wyoming and very well could translate down to the consumer.”

Wyoming’s 65th Legislature: General Session Review

in News/Health care/Taxes/Education/Agriculture/Criminal justice
1048

It’s all over for this year. Check out our bitesized rundown of what passed and what failed in the 65th Wyoming Legislature’s General Session. Stay tuned this weekend for more analysis on the session highs and lows with our Robert Geha.

Thanks for watching and be sure to follow Cowboy State Daily for our expanded statewide coverage of Wyoming news coming to your feed in the days ahead.

Income tax, party switching dead, lodging tax alive

in News/Taxes/Criminal justice
992

By Cowboy State Daily

The last of three bills that would have put restrictions on when voters can change party affiliations was among a number to die this week as the Legislature neared the end of its general session.

Legislators looking to wrap up their general session by Wednesday put in long hour this week finishing their work on a number of bills, eliminating several controversial measures.

HB 106 was the last of three bills that would have set time limits for people to change party affiliation. It would have set a deadline of May 1 for such changes. It was defeated in a 14-11 vote in its first Senate review.

Another bill killed would have imposed an income tax on large retail companies headquartered outside of Wyoming. HB 220 died without getting a review in a Senate committee.

Moving ahead, however, was a bill that would set a statewide lodging tax of 5 percent. HB 66 is set for a final vote in the Senate on Monday.

Approved with significant changes by the Senate was a bill originally designed to create a felony crime for animal abuse. HB 235 was amended to remove all language about the felony crime.

Wyoming Legislature: Where they are

in News
Wyoming Legislature bill analysis where they are
988

Here is the status of some bills making their way through the Legislature’s general session:

HB 14 — Creating the “Mountain Daylight Savings Time” zone for Wyoming. Defeated in Senate “Committee of the Whole.”

HB 38 — Raising legislative expense reimbursements from $109 per day to $149. Vetoed by Gov. Mark Gordon.

HB 52 — Giving preference to Wyoming-made products in furnishing state buildings. Awaiting governor’s signature.

HB 66 — Setting a statewide lodging tax of 5 percent. Approved in second reading in Senate.

HB 71 — Raising the penalty for violating equal pay rules to $500 per day. Signed into law by Gov. Mark Gordon.

HB 140 — Imposing a 48-hour waiting period to perform abortions. No action will be taken in Senate committee before the end of session.

HB 145 — Eliminating the death penalty. Killed in Senate “Committee of the Whole.”

HB 192 — Requiring photo ID to vote. Killed on third reading in House.

HB 220 — Imposing an income tax on out-of-state companies with business locations in Wyoming. Died without review in Senate Corporations, Elections and Political Subdivisions Committee.

HB 251 — Authorizing Wyoming to sue the state of Washington over it refusal to allow the construction of a coal port. Approved in second reading in Senate.

HJ 1 — Asking the federal government to delist the grizzly bear. Signed by Gov. Mark Gordon.

SF 46 — Limiting the length of a prescription of opioids to 14 days. Approved in second reading in House.SF 57 — Setting a deadline for the release of public documents by government agencies. Awaiting report of “joint conference committee” to resolve Senate, House differences.

SF 119 — Making all expenditures by the state auditor’s office public and available for review. Died without review in House Appropriations Committee.

SF 129 — Repealing requirements for reports from the state Department of Education. Awaiting governor’s signature.

SF 148 — Allowing the state to seize and operate federal facilities — including national parks — under certain conditions. Killed in House Minerals Committee.

SF 149 — Creating a “Capitol Complex” around the state Capitol and giving the state building commission authority for planning in the area. Approved in first reading in the House.

SF 160 — Requiring changes in voter party affiliation to take place two weeks before absentee ballots are distributed. Died without review by House Corporations, Elections and Political Subdivisions Committee.

SJ 3 — Declaring Dec. 10, 2019, as Wyoming Women’s Suffrage Day. Signed into law by governor.

Senator says discussion of Wyoming’s tax structure must continue

in News/Taxes
971


By Cowboy State Daily

Attempts to change Wyoming’s tax structure must continue despite the defeat of a bill that would have created a corporate income tax, according to a legislative leader.

HB 220, called the “National Retail Fairness Act,” would have imposed an income tax on corporations such as large retailers that do business in Wyoming but have their headquarters in other states. 

But the measure encountered significant opposition and the Senate Corporations, Elections and Political Subdivisions Committee declined to review the bill before a Wednesday deadline for committees to finish their work.

Committee Chair Sen. Bill Landen, R-Casper, said he never brought the bill up because there was very little chance for it to win Senate approval.

Landen said discussions of how to change Wyoming’s tax structure must continue, even though many ideas raised will not be popular.

“That’s going to be difficult every single time we bring a bill like this one because everybody believes in that, they just don’t want it done in their backyard,” he said.

Backers of the bill in the House, where the bill was approved by a vote of 44-14, said it would have given the state a tool to get its share of the taxes already built into the cost of products.

“I thought it was a good tool for Wyoming to get some of the money from the big box stores that they’re already scheduled to pay,” said Rep. Bunky Loucks, R-Casper. “And they don’t really participate in the tax base of our state.”

In Brief: Corporate income tax bill dies without committee review

in News/Taxes
962

By Cowboy State Daily

A plan to impose an income tax on large companies that do business in Wyoming but are headquartered elsewhere died in a Senate committee on Tuesday.

HB 220, referred to as the National Retail Fairness Act, was not considered before a deadline for the Senate Corporations, Elections and Political Subdivisions Committee to finish its work on bills.

For any bills to be considered in the Senate, they have to be reported out of committee by Wednesday. Although the bill was on the Corporations Committee’s schedule for consideration Tuesday, it was not brought up before the end of business The Corporations Committee is not scheduled to meet again before the deadline.

The bill had been seen as a way for Wyoming to tap into a revenue source from large retailers. Supporters argued that such retailers build in the cost of income tax in other states into their prices and then do not discount those prices in states that do not have an income tax — such as Wyoming. The corporate income tax was seen as a way to collect the tax that was not being paid to the state.

Bill to impose tax on out-of-state companies headed for final House reading

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767

By Cowboy State Daily

A corporate income tax could be seen in Wyoming under a bill that cleared its second vote in the House on Thursday.

Representatives voted in favor of HB 220 — also called the National Retail Fairness Act — to send it to a third and final House reading on Friday.

The bill would impose a 7 percent tax on companies that do business in Wyoming but are headquartered in other states, raising an estimated $45 million a year.

Bill sponsor Rep. Jerry Obermueller R-Casper, said Wyoming residents pay the same for items from large retailers, such as WalMart, as residents of Nebraska, which has an income tax. Because the income tax is built into the price of items, Wyoming residents are helping to pay Nebraska’s income tax, he said.

“We’re saying we’re paying the taxes in, we want the taxes back to build our roads and schools, not yours,” he said.

But Chris Brown, director of the Wyoming Lodging and Restaurant Association, said the tax could hurt the state’s hospitality industry.

He also questioned the speed with which the bill is moving through the legislative process, saying retail and hosptality industry representatives have not had chance to thoroughly review it.

The bill was introduced on Tuesday, was cleared in committee on Wednesday and went through its second reading Thursday.

“That’s unfortunate because it’s been limiting the ability for retail to get its grips around it and weigh in on it accurately,” he said.

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