Legal Updates

On November 23, 2020, in “Liens, Taxes and Bankruptcy in Wyoming- Oh My! 2020 Changes to Ad Valorem Tax and Lien Law”, I reported on Wyoming’s attempts to change its ad valorem tax payment and reporting system for produced minerals.  The goal was to make ad valorem filings and payments simultaneous with severance tax filings […]

There is a sign near the Casper airport that reads:  “Oil and Gas Pay Most Our Taxes.”  In a State with no income tax, no franchise tax, no transfer taxes and low sales tax rates, the sign sums up a known truth:  taxes on mineral production are the primary revenue streams that fill Wyoming’s State […]

As 2015 draws to a close, there is still time to reduce your 2015 tax bill and plan ahead for 2016. This memo highlights several potential tax-saving opportunities for business owners to consider. • Defer Income into 2016. Deferring income to the next taxable year is sometimes a useful year-end planning tool. If you expect […]