Wyoming residents can afford to pay more in taxes, argues an analysis by the Laramie County Community Collegeâs Center for Business and Economic Analysis, citing the stateâs already low tax burden and relatively inexpensive cost of living.
The analysis, drafted last December, was presented to the Joint Revenue Committee on May 11 as part of an interim discussion on the stateâs tax structure. It expands on a 2020 Legislative Service Office study that compared Wyomingâs median tax rates to those in surrounding states like Nebraska, Montana and the Dakotas.
That study found Wyoming could generate more than $800 million in new revenues per year without hurting its competitiveness with those other states, all of which have seen substantially higher population growth over the last decade.
LCCC study: Wyo residents can afford higher taxes
The restored Wyoming State Capitol building is seen at night on Feb. 11, 2020, in Cheyenne. (Dan Cepeda, Oil City File)
Wyoming residents can afford to pay more in taxes, an analysis by the Laramie County Community College’s Center for Business and Economic Analysis argues, citing the state’s already-low tax burden and relatively inexpensive cost of living.
The analysis, which was drafted last December, was presented to the Joint Revenue Committee Monday as part of an interim discussion on the state’s tax structure. It expands on a 2020 Legislative Service Office study that compared Wyoming’s median tax rates to those in surrounding states like Nebraska, Montana and the Dakotas.