House gives preliminary approval to helium tax

Cheyenne, WY – The House gave preliminary approval to the
bill that would tax oil and gas companies for helium extraction on Thursday.
The taxes would bring in more than $2 million in annual tax revenue.
Ed Schmidt is director of the Wyoming Department of Revenue. He says extraction of the helium should be taxed by the state. He says it is the only mineral commodity Wyoming does not currently tax.
The bill would allow the state to tax helium extracted from the ground the same rate as other Wyoming minerals.