Wyoming Officials Vote to Advance State Income Tax Proposal
PINEDALE, WY. (AP) — Wyoming state officials have voted to advance legislation that would enact a state corporate income tax.
The Casper Star-Tribune reported Thursday that the Joint Committee on Revenue voted in favor of the bill, leaving its creator to work out incomplete details before the January 2020 budget session.
Officials say Republican Rep. Jerry Obermueller submitted a revised version of the bill this week after lawmakers defeated the tax during the last general legislative session.
Officials say the bill would impose a 7% corporate income tax on corporations with more than 100 shareholders and diversify revenue streams by taxing big corporations without punishing privately-owned businesses and residents.
Opponents of the bill say it is potentially unconstitutional as it could give national chains that are not publicly traded an unfair advantage.
Information from: Casper (Wyo.) Star-Tribune, http://www.trib.com