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Brief -- Wyoming Severance Tax Bill

A bill (SF 98) to lower severance taxes on oil and natural gas producers, already passed by the Wyoming state Senate, was rejected by the House Revenue Committee on a 6-3 vote. The bill is supported by the state's oil/natural gas industry as a means to boost sagging production. Bruce Hinchey, president of the Petroleum Association of Wyoming (PAW), said PAW will try again next year to get the severance tax lowered to 3% from the current 6% for the first two years of each well. SF 98 received mixed reactions from state lawmakers and it was uncertain if Republican Gov. Matt Mead would have signed it into law.

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