Campbell County’s Sales Tax Revenue Increases Nearly 20%

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annual percent change in taxable sales map

According to the  Wyoming Department of Administration & Information, total taxable sales in Wyoming grew 17.9 percent to $3.9 billion in the first quarter of 2018, based on sales and use tax collections.

“Increases occurred in most economic industries, with the largest boost in mining (including oil & gas extraction),
which accounted for over one-third of the total increase. The mining sector experienced a year-over-year expansion of 45.1 percent due to increased sales of equipment, supplies, and services from new energy exploration and production activity (Wyoming does not impose sales tax on the production of minerals).”

The  sales tax figures for this quarter are still 45.3% less than the first quarter of 2014, which was before the overall energy production downturn.  Because more than 1/6 of collections come from mining, changes in sales and use tax collections have greatly fluctuated due to changes in mineral activities. Construction was an industry that experienced a decline, however.

“Manufacturing, wholesale trade, and machinery & equipment leasing, and other services sectors, which are closely related to mineral extraction, each increased around 20.0 percent. The public administration sector, which reflects automobile sales, showed an increase of 7.1 percent over the year. The retail trade industry, the largest in terms of sales tax contribution, grew 15.5 percent. Across the state, 21 out of 23 counties experienced increases in taxable sales, led by Converse County (64.2%). Two other counties, Sublette and Platte, demonstrated over 30.0 percent expansions, respectively. Counties with large numbers of mineral activities generally experienced faster growth due to increased drilling. ”

You can read the entire report for the first quarter of 2018 by clicking here.

Brenda

Brenda

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