CHEYENNE (Feb. 25, 2025) – The National Federation of Independent Business (NFIB), Wyoming’s leading small business advocacy organization, thanked the Legislature for passing SF 48, which increases the tax exemption on business personal property to $75,000, up from $2,400, and streamlines the tax filing process, making it easier for small business owners to file their taxes.

In a statement, NFIB State Director Michael Smith outlined how the much-needed relief would strengthen the local economy.

“Amid rising costs and an ongoing worker shortage, SF 48 provides meaningful financial relief to Wyoming’s small businesses. Easing the compliance burden and raising the personal property tax exemption to $75,000 will provide much-needed tax relief to Main Street employers, so they can continue to do what they do best: create jobs and invest in our communities. We thank the Legislature for standing up for Wyoming’s small businesses and look forward to the Governor’s swift signature of this crucial property tax cut.”