Energy Slump Contributes to Declining Sales Tax Numbers

Energy Slump Contributes to Declining Sales Tax Numbers

WYOMING —  The third quarter economic summary released by the Wyoming Economic Analysis Division shows an 18.2 percent decrease in taxable sales from the 2014 third quarter to the 2015 third quarter.

The counties with the biggest decrease were Converse County with a 50.8 percent decrease, Niobrara County with a 30.5 percent decrease, and Natrona County with a 30.1 percent decrease. Sweetwater County showed a 10 percent decrease in total taxable sales.

The slumps in the energy and mining industries appear to be a major reason for the change. The mining industry, which includes oil and gas extraction, contributed to 60 percent of the total taxable sales decrease.

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Despite a significant drop in other parts of the state, four of Wyoming’s 23 counties showed an increase in taxable sales. Albany County showed a 4.3 percent increase, Teton County showed a 7.6 percent increase, Lincoln County showed a 9.4 percent increase, and Weston County showed a 26.6 percent increase.

Teton’s increase is likely contributed to the large increase in tourism in the county this year. The number of visits to Yellowstone National Park climbed to 2,515,324 in the third quarter of 2015. That is a 14.1 percent increase from the 2014 third quarter numbers. On top of that, Grand Teton National park reached 1,863,278 visits in the 2015 third quarter, a 11.4 percent increase from the 2014 third quarter numbers.