Gordon gives business a tax break

Governor Mark Gordon has signed an Executive Order that will provide significant tax relief to eligible Wyoming businesses. This will come in the form of a tax credit and by offsetting some potential increases to their unemployment insurance taxes in the future. The executive order removes all unemployment insurance benefit claims between March 13th and December 31st of last year from the businesses whose accounts were charged for those claims. The executive order was authorized by the Legislature in 2020 and it ensures that these employers do not continue to experience significant unemployment insurance tax rate increases due to the system-wide surge in unemployment claims that occurred due to the COVID-19 pandemic. It will also provide credits to employers who experienced increased unemployment taxes already paid in 2021.

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