Taxes are a common theme on news shows in the U.S.; you may have even seen the Tax Foundation’s very own Kyle Pomerleau speaking about the presidential candidates’ tax plans. However, Americans rarely see a sitcom or...
The facts on Wyoming’s Tax Climate
0%Individual Income Tax
0%Corporate Income Tax
$2308Property taxCollections Per Capita
Wyoming's Individual Income Tax System
Wyoming levies no individual income tax, joining seven other states with the same policy: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
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
Wyoming's Corporate Income Tax System
Wyoming levies no corporate income tax, joining six other states with the same policy: Nevada, Ohio, South Dakota, Texas, Washington, and Wyoming.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita
Wyoming Sales and Excise Taxes
Wyoming levies a 4% general sales or use tax on consumers, which is below the national median of 5.95%. The average local sales tax rate is an additional 1.47%. Wyoming's state and local governments collect $2103 per person in general sales taxes and $283 per person in excise taxes, for a combined figure of $2386, which ranks 4th highest nationally. Wyoming's gasoline tax stands at 24¢ (21st lowest nationally), while its cigarette tax stands at $0.6 (12th lowest nationally.)
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita
Wyoming Property Tax Collections Relatively High
Wyoming's state and local governments collected approximately $2308 per person in property taxes in 2012, which ranks 5th highest nationally.
State and local property tax collections per capita by state
Tax Freedom Day Arrives on April 17th 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 2014, Wyoming taxpayers worked until April 17th (21st latest nationally) to pay their total tax bill. The Tax Freedom Days of neighboring states are: Montana, April 14th (ranked 23rd earliest nationally); South Dakota, April 4th (ranked 3rd earliest nationally); Nebraska, April 14th (ranked 23rd earliest nationally); Colorado, April 22nd (ranked 13th latest nationally); Utah, April 17th (ranked 21st latest nationally); and Idaho, April 11th (ranked 15th earliest nationally).
Wyoming's State and Local Tax Burden Lowest in Nation
Wyoming's 2011 tax burden of 6.9% ranks lowest out of 50 states, and is below the national average of 9.8%. Wyoming's taxpayers pay $3500 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 2015 Business Tax Climate Index Ranks 1
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, 6th, South Dakota, 2nd, Nebraska, 29th, Colorado, 20th, Utah, 9th, and Idaho, 19th.
State Business Tax Climate Index (full study)
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