Corporate Income Tax Proposal Raises Questions

A proposal for a corporate income tax raised questions earlier this week at a meeting with Sheridan County’s state legislative delegation, including whether the proposal could segue to a personal income tax in the state.

Rep. Mark Kinner said he wasn’t in favor of a personal income tax in Wyoming, and while that’s a fear of many people, he said he didn’t see that happening here.

Sen. Dave Kinskey said he’s proud that Wyoming is one of only six states in the nation that don’t have a personal income tax, and he opposes the corporate income tax.

Kinskey said he likes Wyoming’s low-tax environment and he likes keeping the pressure on government to spend less.

Sen. Bo Biteman said he agreed with Kinskey, and he believes the odds of a corporate income tax passing in Wyoming are currently slim. He said the corporate tax poses a slippery slope, and the way the bill has been worded isn’t fair and isn’t good tax policy. He said other states are lowering or getting rid of corporate income taxes, and added Wyoming needs to get back to being a business-friendly state.

Rep. Cyrus Western said the bill would apply to any corporation with over 100 shareholders, and while he remains open to discussion, he feels uncomfortable with the bill he’s seen so far.