High production of energy industry increases state tax collections for Wyoming
CHEYENNE, Wyoming: As a result of increased revenue for mineral industries, Wyoming has received an additional $150 million that originally anticipated in general fund tax collections for Fiscal Year 2011.
According to Bill Mai of the Legislative Service Office, another $250 million was also arriving in state reserve accounts and the school fund. State Senator Phil Nicholas (R) said that this surplus in funds will be required to cover the absence of stimulus funds from the prior budget. Nicholas is hopeful that the disappearance from the books of federal stimulus money will be equaled by the uptick in state revenues.