Wyoming lawmakers to talk corporate taxes ... again

If at first you don’t succeed, learn a little bit more about the subject and, maybe, try again later.

That’s what the Wyoming Legislature’s Revenue Committee plans to do on Thursday when it revisits the topic of instituting a state corporate income tax, a political non-starter with lawmakers over the past several years. Thursday’s meeting will be a continuation of a discussion that began last year around the prospect of taxing larger corporations or box stores that pay very little in taxes, according to committee chairman Sen. Ray Peterson.

Wyoming has long been noted for its lack of both a statewide corporate income tax and a personal income tax, two distinctions that have made Wyoming a perennial top state to do business, according to a pollster often cited by the Wyoming Business Council. Out of six states in the union without a corporate tax, Wyoming is joined by South Dakota as the only ones without a corporate income or gross receipts tax: essentially a sales tax for companies that provide services, rather than sell goods.

As things are, the nonpartisan Tax Foundation, a Washington, D.C., think tank, has consistently ranked Wyoming first in the nation in its annual State Business Tax Climate Index.

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