Wyoming businesses receive tax relief from suspended unemployment benefit charges

(The Center Square) – An executive order from Wyoming Gov. Mark Gordon provides some tax relief to employers by suspending unemployment insurance (UI) benefit charges to businesses impacted by the statewide health mandates to stop the spread of COVID-19.

Among the eligible businesses: theaters, bars, coffee shops, gyms, conference rooms, and museums, the Casper Star Tribune reported.

Removing UI benefit charges for affected industries will prevent significant tax rate increases due to the number of employee filing unemployment claims amid the pandemic, according to the governor’s office.

“We want to ensure that the steps we’ve taken throughout the year don’t significantly impact the Unemployment Insurance taxes of impacted businesses,” Gordon said in a news release. “This important step will shield Wyoming businesses from sudden or substantial increases to their Unemployment Insurance rates during these challenging times.”

The executive order applies retroactively from March 19, the date of the initial statewide health order, through Dec. 31, 2020. The governor and Department of Workforce Services (DWS) will adjust as needed depending on unemployment conditions.

“We commend Governor Gordon’s Executive Order 20-12 preventing increases in Wyoming’s unemployment tax,” Tony Gagliardi, Wyoming state director with the National Federation of Independent Business (NFIB), told The Center Square. “Wyoming small businesses are hanging on by a thread. Any additional increase in the unemployment tax could be the knife that cuts the thread.”

The UI tax rate notices were scheduled to be mailed by Dec. 31.

“It would be especially comforting to see the legislature think about the further enhancement of COVID-19 liability protections for the business community along with postponement of the implementation of any new taxes,” Gagliardi said. “As more small businesses open up, it will ease the strain on the unemployment fund as employees will be able to return to their jobs.”

“It is important to remember that over 130,000 Wyoming residents are employed by small businesses, making it imperative we get Wyoming business back on its feet,” he added.

Disclaimer: This content is distributed by The Center Square