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House adopts higher personal-property exemption for businesses after debate, ballot 56–4
Summary
After debate and three amendment attempts, the Wyoming House approved Senate File 48 to raise the state'''s personal-property exemption for businesses; an amendment to set the exemption at $75,000 prevailed after votes defeated smaller-scale and anti-abuse proposals.
The Wyoming House of Representatives on Feb. 20 adopted Senate File 48, a tax measure that increases the de minimis personal-property exemption for businesses, after rejecting two amendments and approving a third that raised the exemption to $75,000.
The bill, which would raise the current $2,400 exemption, drew extended floor debate about whether the change would benefit small "mom-and-pop" businesses or give an undue windfall to larger firms and whether the text left a loophole permitting multiple claims. Representative Sherwood, who offered the first two amendments, said the first aimed to close a perceived loophole that would let one owner split property across entities to claim multiple exemptions:…
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