State Revenues Continue to Outpace Projections
Cheyenne, WY – Higher mineral tax income and interest on the state investments have Wyoming revenues running 12% ahead of projections. According to a report, state revenues totaled $461 Million through the first eight months of the fiscal year, that's about $54 Million above forecasts. Spikes in the prices for natural gas seem to be the main driver of the increased tax revenue. The average price of gas at the state's Opal (oh-PAL') Hub was $5.50 in January and February but has jumped to $6.21 this month. State Economist Jim Robinson says energy activity, especially in Campbell and Sublette counties, is boosting retail trade and providing a subsequent boost in sales tax revenue as well.