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307-684-5544 , 55 N. Main Street , Buffalo, WY 82834 , 1-800-227-5122
 

Taxes and Incentives

Overview

Wyoming has been ranked No. 1 for business-friendly taxation which gives businesses the upper hand to success. Not having to pay corporate or personal income taxes is a key benefit of doing business in Wyoming. Besides allowing business owners to enjoy higher earnings, lack of an individual income tax contributes to a lower cost of labor is the state.

  • No inventory tax
  • No franchise tax
  • Low property taxes
  • No corporate state income tax
  • No personal state income tax
  • Sales and use tax base of 4% with 1% county optional tax
  • Sales and use tax exemption on equipment used directly and predominantly in manufacturing.

Wyoming offers many services to new and existing businesses in the state and to new businesses relocating to the state through the Wyoming business council.

Wyoming Business Council offers:

  • Business Licensing and Permitting
  • Community Development Block Grant Program
  • Human Resources Consulting
  • Partnership Challenge Loan Program
  • Trade Show Incentive Grant Program
  • Wyoming First Program

Taxes

  • Sales/Use Tax: 5%
  • Lodging Tax: 2%
  • Gas Tax: .14 cents
  • Individual Income Tax: None
  • Industrial property is assessed at 11.5% of market value.
  • Production property tax is 100%.
  • Commercial and residential property is assessed at 9.5%

Personal property (i.e., machinery and equipment, etc.) is assessed at the same rate as the classification in which it is used. The property tax is calculated by multiplying the assessed value by the mill levy.

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