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CHEYENNE, Wyo. (AP) — A legislative committee's task of finding new sources of revenue for Wyoming coffers includes looking at new taxes or increasing existing taxes.
Republican Sen. Ray Peterson of Cowley is co-chairman of the Legislature's Joint Revenue Interim Committee.
Peterson tells the Wyoming Tribune Eagle (http://bit.ly/2qQeF5t) that the panel is looking at everything related to increasing revenue.
Peterson said he isn't a fan of imposing taxes. But with around 70 percent of Wyoming's revenue derived from taxing minerals, he said the state must consider broadening its base to break the perennial boom-bust economic cycle.
Possibilities for raising revenue include: imposing a gross receipts tax; reviewing user fees among state and local agencies; increasing tobacco and alcohol taxes; and evaluating local government revenue options.
The committee's report is due in November.
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Information from: Wyoming Tribune Eagle, http://www.wyomingnews.com
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