2021 Challenges in the Wyoming Legislature

Date: March 29, 2020

Winning business personal property exemption, stopping corporate income tax increase two top, small-business goals

Stopping a Wyoming Corporate Income Tax 

After two failed attempts, the Wyoming Legislature is likely to consider implementing a 7 percent corporate income tax. The tax would apply to companies with more than 100 shareholders; however, a future Legislature could amend the legislation and make it applicable to all businesses in the state.

Tolling Parts of Interstate-80

Due to declining gas tax revenues, the Legislature will once again discuss tolling on parts of I-80. Several attempts have been made in the past regarding this issue. Opponents insist their taxes have already paid for Wyoming highways. The move would require permission from the federal government.

Winning Business Personal Property Exemption

NFIB will work to achieve an exemption of $25,000 for the use of property used in the operations of a business. Successful passage would alleviate the filing with the county assessor. Should the business have greater than $25,000 in business personal property, only that portion of value over $25,000 would be subject to reporting.

Photo courtesy Wyoming State Legislature website.


Related Content: Issues | Tax Help | Taxes | Wyoming

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