Wyoming
Better Wyoming: Somehow, Some Way, Wyoming Property Tax Relief is Coming
February 14, 2024
Buying a home is a goal for most hard-working Wyoming families, and achieving it is a cause to celebrate. But many homeowners in recent years have opened their annual property tax bills and been jolted by huge increases. In fact, residential property tax bills in Wyoming have gone up by an average of more than 80 percent over the past six years.
Wyoming: Who Pays? 7th Edition
January 9, 2024 • By ITEP Staff
Wyoming Download PDF All figures and charts show 2024 tax law in Wyoming, presented at 2023 income levels. Senior taxpayers are excluded for reasons detailed in the methodology. Our analysis includes nearly all (99.8 percent) state and local tax revenue collected in Wyoming. State and local tax shares of family income Top 20% Income Group […]
Better Wyoming: Want to Slow Wyo’s Boom-and-Bust Cycle? Tax Jackson.
January 6, 2023
According to a new report by the Institute on Taxation and Economic Policy (ITEP), Wyoming has several options to generate new tax revenue from our ultra-wealthy residents and decrease the state’s reliance on boom-and-bust fossil fuels—even while keeping taxes low on the middle class. All we need to do is tax Jackson. Read more.
Better Wyoming: New Report: Low-income Residents in Wyoming Pay an Effective Tax Rate More Than Three Times Higher Than the State’s Wealthiest One Percent
October 17, 2018
A new study released today by the Institute on Taxation and Economic Policy (ITEP) and Better Wyoming finds that the lowest-income Wyomingites pay an effective tax rate more than three times higher than the state’s richest residents. Wyoming’s tax rate gap between the working poor and the ultra-rich is one of the worst in the nation.
Wyoming: Who Pays? 6th Edition
October 17, 2018 • By ITEP Staff
WYOMING Read as PDF WYOMING STATE AND LOCAL TAXES Taxes as Share of Family Income Top 20% Income Group Lowest 20% Second 20% Middle 20% Fourth 20% Next 15% Next 4% Top 1% Income Range Less than $26,100 $26,100 to $48,800 $48,800 to $70,900 $70,900 to $111,700 $111,700 to $207,400 $207,400 to $580,600 over $580,600 […]
Tax Cuts 2.0 – Wyoming
September 26, 2018 • By ITEP Staff
The $2 trillion 2017 Tax Cuts and Jobs Act (TCJA) includes several provisions set to expire at the end of 2025. Now, GOP leaders have introduced a bill informally called “Tax Cuts 2.0” or “Tax Reform 2.0,” which would make the temporary provisions permanent. And they falsely claim that making these provisions permanent will benefit […]
Most States Have Raised Gas Taxes in Recent Years
May 22, 2018 • By Carl Davis
An updated version of this blog was published in April 2019. State tax policy can be a contentious topic, but in recent years there has been a remarkable level of agreement on one tax in particular: the gasoline tax. Increasingly, state lawmakers are deciding that outdated gas taxes need to be raised and reformed to fund infrastructure projects that are vital to their economies.
How the Final GOP-Trump Tax Bill Would Affect Wyoming Residents’ Federal Taxes
December 16, 2017 • By ITEP Staff
The final tax bill that Republicans in Congress are poised to approve would provide most of its benefits to high-income households and foreign investors while raising taxes on many low- and middle-income Americans. The bill would go into effect in 2018 but the provisions directly affecting families and individuals would all expire after 2025, with […]
How the House and Senate Tax Bills Would Affect Wyoming Residents’ Federal Taxes
December 6, 2017 • By ITEP Staff
The House passed its “Tax Cuts and Jobs Act” November 16th and the Senate passed its version December 2nd. Both bills would raise taxes on many low- and middle-income families in every state and provide the wealthiest Americans and foreign investors substantial tax cuts, while adding more than $1.4 trillion to the deficit over ten years. The graph below shows that both bills are skewed to the richest 1 percent of Wyoming residents.
How the Revised Senate Tax Bill Would Affect Wyoming Residents’ Federal Taxes
November 14, 2017 • By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Wyoming, 56 percent of the federal tax cuts would go to the richest 5 percent of residents, and 6 percent of households would face a tax increase, once the bill is fully implemented.
How the House Tax Proposal Would Affect Wyoming Residents’ Federal Taxes
November 6, 2017 • By ITEP Staff
The Tax Cuts and Jobs Act, which was introduced on November 2 in the House of Representatives, includes some provisions that raise taxes and some that cut taxes, so the net effect for any particular family’s federal tax bill depends on their situation. Some of the provisions that benefit the middle class — like lower tax rates, an increased standard deduction, and a $300 tax credit for each adult in a household — are designed to expire or become less generous over time. Some of the provisions that benefit the wealthy, such as the reduction and eventual repeal of the estate…
GOP-Trump Tax Framework Would Provide Richest One Percent in Wyoming with 70.7 Percent of the State’s Tax Cuts
October 4, 2017 • By ITEP Staff
The “tax reform framework” released by the Trump administration and congressional Republican leaders on September 27 would not benefit everyone in Wyoming equally. The richest one percent of Wyoming residents would receive 70.7 percent of the tax cuts within the state under the framework in 2018. These households are projected to have an income of at least $542,400 next year. The framework would provide them an average tax cut of $180,480 in 2018, which would increase their income by an average of 7.3 percent.
In Wyoming 57.3 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
August 17, 2017 • By ITEP Staff
A tiny fraction of the Wyoming population (0.5 percent) earns more than $1 million annually. But this elite group would receive 57.3 percent of the tax cuts that go to Wyoming residents under the tax proposals from the Trump administration. A much larger group, 39.4 percent of the state, earns less than $45,000, but would receive just 2.6 percent of the tax cuts.
Trump Tax Proposals Would Provide Richest One Percent in Wyoming with 64 Percent of the State’s Tax Cuts
July 20, 2017 • By ITEP Staff
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Wyoming would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $3,008,400 in 2018.
State Rundown 6/14: Some States Wrapping Up Tax Debates, Others Looking Ahead to Next Round
June 14, 2017 • By ITEP Staff
This week lawmakers in California and Nevada resolved significant tax debates, while budget and tax wrangling continued in West Virginia, and structural revenue shortfalls were revealed in Iowa and Pennsylvania. Airbnb increased the number of states in which it collects state-level taxes to 21. We also share interesting reads on state fiscal uncertainty, the tax experiences of Alaska and Wyoming, the future of taxing robots, and more!
A Better Wyoming: Guess Which Sparsely Populated Mineral Rich State is Getting an Income Tax…
June 8, 2017
Alaska stopped collecting income taxes 35 years ago, and Wyoming has never remotely considered implementing one in the 82 years since it decided instead to charge state and local sales taxes. The Institute on Taxation and Economic Policy (ITEP) discovered recently that nearly 82 percent of Alaskans could expect to pay less under a progressive income tax than they would under a sales tax designed to generate an identical level of revenue.
A Better Wyoming: Everything You Know About Wyoming Taxes is Wrong
June 6, 2017
Wrong. According to the Institute on Taxation and Economic Policy (ITEP), a D.C. think tank that studies state tax policy, Wyoming’s wealthiest residents pay the lowest tax rate in the country. Meanwhile, people at the bottom 20 percent of Wyoming’s shaky economic ladder pay taxes at seven-times the rate that the top one percent of earners do. That’s the largest tax rate discrepancy between rich and poor in the United States.
State Rundown 5/31: Budget Woes Spurring Special Legislative Sessions
May 31, 2017 • By ITEP Staff
This week, special legislative sessions featuring tax and budget debates are underway or in the works in Kentucky, Minnesota, New Mexico, and West Virginia, as lawmakers are also running up against regular session deadlines in Illinois, Kansas, and Oklahoma. Meanwhile, a legislative study in Wyoming and an independent analysis in New Jersey are both calling for tax increases to overcome budget shortfalls.
Casper Star-Tribune: Powerful Wyoming Liberty Group hits reset on image
October 31, 2016
“But Wyoming’s tax system is advantageous to the rich, with the state’s poor and middle classes paying a disproportionate amount of their income on sales and property taxes, said Carl Davis, the research director of the Washington-based Institute on Taxation and Economic Policy.” Read more
Casper Star Tribune: Sales tax takes the spotlight as Legislature explores new revenue options
September 8, 2016
“Given that most states use income taxes to help fund state government, Wyoming’s strong reliance on sales tax is unusual. It also puts a disproportionate tax burden on working-class Wyomingites who are likely to spend a higher share of their income on taxed consumption, said Carl Davis, research director at the Institute on Taxation and […]
New York Times: Need to Hide Some Income? You Don’t Have to Go to Panama
April 8, 2016
“In Wyoming, Nevada and Delaware, it’s possible to create these shell corporations with virtually no questions asked,” said Matthew Gardner, executive director of the Institute on Taxation and Economic Policy, a nonprofit research organization in Washington.” Read more
Huffington Post: How Some States Are Trying To Fix Their Crumbling Infrastructure
July 6, 2015
Carl Davis, research director at the Institute on Taxation and Economic Policy, said efforts to raise state taxes to pay for roads and bridges exploded this year. In 2013 and 2014, four states (Massachusetts, New Hampshire, Vermont and Wyoming) increased their gas taxes, while Maryland, Pennsylvania and Rhode Island indexed the gas tax to either […]
Bloomberg: How Gasoline-Use Drop May Raise Taxes in Deleware
May 27, 2014
Fuel-efficiency gains, inflation and higher construction costs have eroded the ability of state gasoline taxes to keep pace with needs, said Carl Davis, an analyst at the Institute on Taxation and Economic Policy, a Washington-based research group.
The Sheridan Press: Who Pays?
March 29, 2013
(PDF of Original Post) National study examines tax system in all 50 States: Wyoming rates comparatively low
Moorcroft Leader: Tax Report for Wyoming Inspires proposed Gas Amendment
February 21, 2013
(Original Post) Tax season is getting underway, and a new report lays out the percentages taxes take out of family incomes in Wyoming. The “Who Pays?” study shows that taxes a percentage of income are the lower for the reich and highest for the poorest. With that report in hand, the executive director of the […]
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