Tax & Accounting Blog

Wyoming Back at it Again: Wind Tax Reform

Indirect Tax, ONESOURCE, Sales and Use Tax May 16, 2011

Recent legislation to increase the rate at which wind developments are taxed in Wyoming was defeated earlier this year. However, it appears the Wyoming legislature is at it again as they are scheduled to discuss the issue at the Joint Revenue Interim Committee’s meeting today (May 13, 2011).

Currently, wind developers will be taxed at $1 per megawatt hour starting in 2012. Additionally, the sales tax on wind energy that is currently in place will expire in 2012. The defeated legislation would have increased the $1 per megawatt rate to $3 over the next 20 years.

Opponents of the bill claimed the phase in period was too long and that the government would not receive any up-front money for new developments. Supporters were in favor of these elements of the legislation.

As noted above, legislators will revisit the issue at today’s meeting and their discussion will be followed by an opportunity for public comment.

Source:
http://www.wyomingnews.com/articles/2011/05/13/news/20local_05-13-11.txt