Wyoming Sales Tax Collections Down 20 Percent
The latest figures on statewide sales tax collections show a 20.3 percent decline for Fiscal Year 2016 compared to the same time in FY 2015.
That's according to Principal Economist Jim Robinson with the state's Economic Analysis Division. Fiscal Year 2016 started on July 1, 2015 and runs though June 30, 2016.
Robinson says the report, which includes figures for March of 2016, once again clearly shows the negative impact low energy prices are having on the state economy.
The biggest declines in sales tax collections were in Campbell County, which collected $33.8 million less than it had at the same time in FY 2015, and Converse County, down by $29.4 million.
Natrona County had the third biggest decline at a little under $25 million, a decline of 28.9 percent.
Laramie County, which has the largest population in the state, shows an 11.5 percent decline, or about $8.5 million. Robinson notes Laramie County has had some energy industry activity in recent years, although far less than in counties such as Campbell and Natrona.
Robinson says there are four counties that are actually showing an increase in sales tax collections in the report--Albany, Lincoln Teton and Weston counties.
He says the common factor among those counties is that they have relatively little energy development, and their economies are mostly based on non-energy sectors.