severance tax

Digest For SF-98
Wyoming Legislative Service Office

Proposed legislation passed introduction in the State Senate last Friday that would cut the severance tax rate in half for petroleum and natural gas companies for a certain period of time. The reduction from 6 percent to 3 percent would take place during the project's third year until the end of its fourth. 

POWDER RIVER BASIN RESOURCE COUNCIL

The Powder River Basin Resource Council is taking issue with a proposed tax break to the uranium industry. Industry representatives say the cuts are necessary to help boost production and pricing. Opponents say the strategy has been tried twice without success.

In a report, the Wyoming Mining Association wrote the industry is facing near historically low prices and has had to lay off employees. Prices have dropped about 85% since 2007.