State Income Tax

By Bob Geha, Cowboy State Daily

A bill that would impose Wyoming’s first income tax has been proposed for consideration by the Legislature.

Sponsored by House Minority Leader Cathy Connolly, House Bill 147 would impose a four percent tax on gross income of more than $200,000 a year.

The measure is necessary to continue paying for public services in the state, said Connolly, D-Laramie.

“We have to think about what we need in order to get the revenue we need for the state,” she said. “And it’s not extra money. It’s services that all of us use and at this point, they’ve been paid for by the extractive industries. We need to come up with different revenue streams and this is one of them.”

Connolly said the tax would raise about $115 million a year to be used for funding public education.

The tax would affect only two percent to three percent of Wyoming’s taxpayers, she added.

The bill is awaiting introduction in the House. As a non-budget bill, the measure will need the support of at least 40 representatives to be introduced for consideration.