The facts on Wyoming’s Tax Climate

  • 0%
    Individual Income Tax
  • 0%
    Corporate Income Tax
  • 4%
    Sales Tax
  • $2,285
    Property tax
    Collections Per Capita

Wyoming Levies No Personal Income Taxes

Wyoming levies no individual income taxes, joining six other states with the same policy. This makes the tax environment in Wyoming very competitive compared to other states.

 

50-State Table of Individual Income Tax Rates

50-State Table of State Individual Income Tax Collections

50-State Table of State and Local Individual Income Tax Collections Per Capita

Tax Freedom Day Arrives on April 23 in Wyoming

Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2012, Wyoming taxpayers work until April 23 (ranked 5th nationally) to pay their total tax bill. The Tax Freedom Days of neighboring states are: Colorado, April 15 (ranked 21st nationally); Utah, April 17 (ranked 17th nationally); Idaho, April 17 (ranked 17th nationally); Montana, April 15 (ranked 21st nationally); South Dakota, April 4 (ranked 46th nationally); and Nebraska, April 11 (ranked 31st nationally).

Wyoming’s State and Local Tax Burden Fourth-Lowest in Nation

Wyoming state and local tax burden is currently estimated at 7.8% of income (46th nationally), below the national average of 9.8%. Compared to the 1977 data, Wyoming had a tax burden of 7.8% (49th nationally), remaining relatively constant. Currently Wyoming taxpayers pay $4,205 per capita in state and local taxes.
Wyoming’s State-Local Tax Burden, 1977-Present
Other States’ State/Local Tax Burdens
Map of U.S. Showing all State’s Burdens and Ranks
Historical Chart Comparing All States’ State/Local Tax Burdens from 1977 to 2009

Wyoming’s 2013 Business Tax Climate Index Ranks 1st

Wyoming ranks 1st in the Tax Foundation’s State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes; individual income taxes; sales taxes; unemployment insurance taxes; and taxes on property, including residential and commercial property. The ranks of neighboring states are as follows: Montana (8th), South Dakota (2nd), Nebraska (31st), Colorado (18th), Utah (10th), and Idaho (20th).

50-State Comparison of Business Tax Climates (data only)
2013 State Business Tax Climate Index (full study)