High production of energy industry increases state tax collections for Wyoming

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August 15, 2011


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.[1]

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.[1]

Wyoming operates on a two-year budget cycle, with the total general fund falling in at $3.2 billion for the budget ending in 2012. The legislature will meet in early 2012 to craft the next budget.[1]

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