Study ranks Wyoming near bottom when it comes to tax rate

Published: Oct. 18, 2018 at 7:15 PM CDT
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A new study says that the working poor in Wyoming pay a higher tax rate than the wealthiest residents.

The report from better Wyoming and the institute of taxation and economic policy says that low-income residents pay a tax rate about 3 times that of the ultra-rich in Wyoming. Better Wyoming points to a heavy reliance on sales tax and a lack of state income tax.

Wyoming's director of revenue Dan Noble says the state actually has one of the lowest tax rates in the country.

So we asked residents -- should Wyoming have an income tax?

"I think a flat sales tax is as fair as you can get with any form of taxation.” Jason Gilmor told CBS NewsChannel 5, “If Wyoming has a tax problem, it's a problem with spending, and they need to figure out how to spend correctly with what they have."

The Department of Revenue says that 38 states actually have higher tax rates for low income residents than Wyoming.