Power Companies Wants a Special Tax Break in WYO
Thursday, December 7, 2006
Cheyenne, WY - Rocky Mountain Power and other electricity companies are asking Wyoming to waive the sales tax when the companies purchases pollution control equipment required by the federal government. The company says they'll pass the savings on to Wyoming consumers.
Dan Neal with the Equality State Policy Center says it's a bold request, since the company already receives generous tax breaks. He points out that this one will mean less money for local coffers, and adds the average Wyoming residential customer won't really see any savings -- because it works out to less than a penny a day.
"We just think this is a classic example of the power companies with their hands in the cookie jar, and they'll take all the cookies we let them take."
Neal claims Wyoming will still be a friendly business climate for Rocky Mountain Power and other utilities if it continues to charge sales tax.
"We already give them a property tax exemption on this equipment, and they don't have to pay a corporate income tax in Wyoming. We challenge them to show us another state where it costs them less to operate."
Rocky Mountain Power says it will save $17 million over eight years without being charged sales tax. The company provides electricity to Wyoming and five other states. The Wyoming Legislature will decide on the proposal.
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