Wyoming Natural Gas Inventory Forward Sale Contract is a legal agreement that allows parties to buy or sell natural gas supplies in the state of Wyoming at a predetermined price, quantity, and future delivery date. It is considered a financial derivative instrument commonly used in energy markets to mitigate risks associated with price volatility and ensure stability in natural gas trading. These contracts, specific to the natural gas industry in Wyoming, are of great significance as the state is one of the largest producers of natural gas in the United States. The Wyoming Natural Gas Inventory Forward Sale Contracts provide certainty to both producers and consumers by establishing fixed prices for future delivery, ensuring efficient planning, and reducing the impact of market fluctuations. There are several types of Wyoming Natural Gas Inventory Forward Sale Contracts, designed to cater to the diverse needs of market participants. Some of these contract types include: 1. Fixed Price Contracts: Parties agree to buy or sell natural gas at a specific price for a predetermined future delivery date. This type of contract provides price stability and enables participants to lock in favorable prices or protect against potential price increases. 2. Index Price Contracts: These contracts utilize indexes such as the Henry Hub or regional price indices to determine the sale price. The natural gas's price is linked to these indexes, allowing for price adjustments based on market conditions. 3. Swing Contracts: Swing contracts provide participants with flexibility in natural gas volumes by allowing the buyer to adjust the quantity within specified limits, commonly known as swing options or swing rights. It helps manage supply-demand imbalances and optimize trading strategies. 4. Basis Contracts: Basis contracts are used to hedge against price differentials between delivery locations or pricing hubs. They allow participants to lock in a fixed spread between different price points, protecting against price volatility related to geographic disparities. 5. Seasonal Contracts: These contracts address seasonal fluctuations in natural gas demand and supply. They enable market participants to trade based on demand variations throughout the year, such as increased consumption during winter months for heating purposes. Wyoming Natural Gas Inventory Forward Sale Contracts have become integral in managing risks associated with natural gas trading, providing stability, and facilitating efficient market operations in Wyoming. These contracts benefit both producers and consumers by ensuring predictable pricing and reducing exposure to price volatility in the highly dynamic natural gas market.
Wyoming Natural Gas Inventory Forward Sale Contract
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Section 39-13-105 - Exemptions. 39-13-105. Exemptions. (a) The following persons who are bona fide Wyoming residents for at least three (3) years at the time of claiming the exemption are entitled to receive the tax exemption provided by W.S. 39-11-105(a)(xxiv):
Wyoming Statute 39-13-107 requires that all personal property for a business in Albany County be reported to the Assessor`s Office by March 1st of the tax-reporting year.
Any real property which cannot be sold for the amount of taxes, interest, penalties and costs shall be bid in for the county by the county treasurer.
(iv) The tax imposed by this article upon the sale of a transportable home shall be collected upon the first sale of the transportable home. The tax shall be collected on seventy percent (70%) of the sales price of the transportable home. No tax shall be collected upon any subsequent sale of the home.
Who Qualifies? Veterans must be a Wyoming resident for 3 consecutive years in order to qualify. Veterans who have written discharge (DD-214 or equivalent) from active duty military service. Served during an armed conflict and received the Armed Forces Expeditionary Medal (AFEM) or equivalent.