-
Overall Rank
1
No change since 2026 -
1
No change since 2026 -
1
No change since 2026 -
6
No change since 2026 -
39
Down 2 places since 2026 -
Unemployment Insurance Tax Rank
33
No change since 2026
Wyoming ranks 1st overall on the 2027 State Tax Competitiveness Index.
Score 7.70 / 10
About Wyoming's Tax Code
Wyoming does not tax individual or corporate income, one of only two states to forgo both taxes (with South Dakota) without imposing a gross receipts tax. However, the state does impose a low-rate capital stock tax on businesses without capping maximum payments. Capital stock taxes are levied on a business’s net worth (or accumulated wealth) and tend to penalize investment. Moreover, businesses are required to pay the capital stock tax regardless of profitability. Wyoming’s tax, notably, is imposed in part to capture revenue from businesses that incorporate in Wyoming for other benefits the state provides.
The four percent statewide sales tax rate is nationally competitive, even after accounting for local sales taxes. The tax base is broad, but includes a disproportionate share of business inputs, which can lead to tax pyramiding and make it more expensive to produce or conduct business in the state. While Wyoming’s overall taxes are quite low, the structure of its tax code results in most taxes being imposed on businesses.
Wyoming is unusual in its ability—at least for now—to rely so heavily on severance taxes and pipeline property taxes, which enables it to forgo taxes imposed in most other states. A state without a corporate or individual income tax definitionally cannot have structural shortcomings in the design of those taxes, hence Wyoming’s performance on the Index. Notably, however, states can also rank well by imposing a wider range of taxes, provided they are imposed relatively neutrally, with broad bases and low rates.
Wyoming property owners have faced surging property valuations in recent years. In 2024, voters authorized the legislature to create a specific residential property tax class, further splitting the roll. In 2025, the legislature enacted a 25 percent exemption on the first $1 million of the value of a single-family residential home and its improved land. This only applies to primary residences inhabited for at least eight months of the year, with exceptions for active-duty military personnel. Similarly, seniors have separate property tax exemptions.
Component Scores
#1 overall · 7.70 / 10Each component is scored from 0 to 10, where 10 is best. Select a component for its detail page.
| Component | Rank | Score | |
|---|---|---|---|
| Corporate Taxes | #1 | 10.00 / 10 | |
| Individual Income Taxes | #1 | 10.00 / 10 | |
| Sales Taxes | #6 | 6.23 / 10 | |
| Property Taxes | #39 | 4.25 / 10 | |
| Unemployment Insurance Taxes | #33 | 4.77 / 10 |
Ranking Changes, 2020–2027
#1 in 2027 · unchanged from 2020Wyoming ranked 1st in 2020 and ranks 1st in 2027, no net change. The axis is zoomed to the state's range. Ranks for 2020 through 2026 are backcast under the current methodology.
Show the Table
| Year | Overall | Corporate | Individual Income | Sales | Property | Unemployment Insurance |
|---|---|---|---|---|---|---|
| 2020 | 1 (7.41) | 1 (10.00) | 1 (10.00) | 6 (5.95) | 46 (3.64) | 37 (4.48) |
| 2021 | 1 (7.53) | 1 (10.00) | 1 (10.00) | 6 (5.91) | 42 (4.04) | 34 (4.63) |
| 2022 | 1 (7.58) | 1 (10.00) | 1 (10.00) | 6 (5.95) | 38 (4.39) | 44 (4.21) |
| 2023 | 1 (7.64) | 1 (10.00) | 1 (10.00) | 6 (5.90) | 38 (4.33) | 33 (4.82) |
| 2024 | 1 (7.67) | 1 (10.00) | 1 (10.00) | 7 (5.91) | 37 (4.40) | 35 (4.67) |
| 2025 | 1 (7.65) | 1 (10.00) | 1 (10.00) | 6 (6.08) | 43 (4.10) | 32 (4.72) |
| 2026 | 1 (7.73) | 1 (10.00) | 1 (10.00) | 6 (6.14) | 37 (4.45) | 33 (4.67) |
| 2027 | 1 (7.70) | 1 (10.00) | 1 (10.00) | 6 (6.23) | 39 (4.25) | 33 (4.77) |
Wyoming Compared across the States
#1 overallEach row places the states on a 0 to 10 score scale for one measure. Wyoming is the large outlined dot, and the dashed line is the 50-state median, so a dot to its right scores better than the typical state. Hover over or tab to any dot for detail, and select it to open that state's profile.
Overall
#1 7.70
Corporate Taxes
#1 10.00
Individual Income Taxes
#1 10.00
Sales Taxes
#6 6.23
Property Taxes
#39 4.25
Unemployment Insurance Taxes
#33 4.77
- Wyoming
- Other states, by rank (1st to 50th)
- 50-state median
Wyoming and Its Neighbors
#1 overallWyoming borders 6 states and ranks 1st overall; it outranks every one of them.
What Each Component Includes
The five components of the Index, what each one covers, and where Wyoming lands. Open any component for the full breakdown.
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Corporate Taxes
Rank #1Includes corporate income taxes and gross receipts taxes. Measures the impact of each state’s principal tax on business activities.
Full Breakdown for Wyoming → -
Individual Income Taxes
Rank #1Covers the tax individuals pay on income, and with it a significant number of businesses — sole proprietorships, partnerships, and S corporations — that report their income through the individual income tax code.
Full Breakdown for Wyoming → -
Sales Taxes
Rank #6Covers the general sales tax levied on the purchase price of goods and services, plus excise taxes on gasoline, diesel, tobacco, vapor products, beer, and spirits, and taxes on digital advertising.
Full Breakdown for Wyoming → -
Property Taxes
Rank #39Includes taxes on real and personal property, net worth, and the transfer of assets — among them capital stock, estate, inheritance, and real estate transfer taxes.
Full Breakdown for Wyoming → -
Unemployment Insurance Taxes
Rank #33Covers the taxes employers pay into the state unemployment insurance program to finance benefits for workers recently unemployed.
Full Breakdown for Wyoming →
Tax Data Explorer
Every policy variable behind Wyoming's 2027 scores, grouped by the report's tables, as of July 1, 2026. Its bordering states are shown alongside to start. Search the variables and values, or add up to 4 states to compare side by side.
146 data points · Shaded values differ from Wyoming
Corporate Taxes: Corporate Income Tax Rates
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Bracket 1 | None | 4.4% > $0 (differs) | 5.3% > $0 (differs) | 6.75% > $0 (differs) | 4.55% > $0 (differs) | None | 4.45% > $0 (differs) |
| Gross Receipts Tax | No | No | No | No | No | No | No |
Corporate Taxes: Tax Credits and Gross Receipts Deductions
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Job Credits | No | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | No | No |
| Research and Development Credits | No | Yes (differs) | Yes (differs) | No | Yes (differs) | No | Yes (differs) |
| Investment Credits | No | Yes (differs) | Yes (differs) | No | Yes (differs) | No | Yes (differs) |
| Compensation Expenses Deductible | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
| Cost of Goods Sold Deductible | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Corporate Taxes: Net Operating Losses
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Conforms to Federal NOL Treatment | n.a. | No (differs) | No (differs) | No (differs) | No (differs) | n.a. | Yes (differs) |
| Carryback (Years) | n.a. | 0 (differs) | 2 (differs) | 3 (differs) | 0 (differs) | n.a. | Conforms to federal treatment (differs) |
| Carryback Cap | n.a. | $0 (differs) | $100,000 (differs) | $500,000 (differs) | $0 (differs) | n.a. | Conforms to federal treatment (differs) |
| Carryforward (Years) | n.a. | 20 (differs) | 20 (differs) | 10 (differs) | 20 (differs) | n.a. | Conforms to federal treatment (differs) |
| Carryforward Cap | n.a. | 80% (differs) | Unlimited (differs) | Unlimited (differs) | Unlimited (differs) | n.a. | Conforms to federal treatment (differs) |
Corporate Taxes: Treatment of Capital Investment
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Section 168(k) Expensing | 100% | 100% | 0% (differs) | 100% | 100% | 100% | 100% |
| Conforms to Section 163(j) Limitation | No | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | No | Yes (differs) |
| GILTI Inclusion | n.a. | 50% Inclusion (differs) | 15% Inclusion (differs) | 20% Inclusion (differs) | 60% Inclusion (differs) | n.a. | 50% Inclusion (differs) |
| Section 174 Expensing | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Section 168(n) Expensing | Yes | Yes | No (differs) | Yes | Yes | Yes | Yes |
Corporate Taxes: Other Corporate Base Variables
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Federal Income Used as State Tax Base | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Conformity Status | n.a. | Rolling (differs) | Static (current) (differs) | Rolling (differs) | Rolling (differs) | n.a. | Rolling (differs) |
| Allows Federal ACRS or MACRS Depreciation | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Allows Federal Depletion | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Throwback Rule | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | No (differs) | n.a. | Yes (differs) |
| Foreign Tax Deductibility | n.a. | No (differs) | Yes (differs) | No (differs) | Yes (differs) | n.a. | No (differs) |
| Corporate AMT | n.a. | No (differs) | No (differs) | No (differs) | No (differs) | n.a. | No (differs) |
| Brackets Indexed for Inflation | n.a. | Flat CIT (differs) | Flat CIT (differs) | Flat CIT (differs) | Flat CIT (differs) | n.a. | Flat CIT (differs) |
Individual Income Taxes: Individual Income Tax Rates
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Bracket 1 | No Income Tax | 4.4% > $0 (differs) | 5.3% > $4,811 (differs) | 4.7% > $0 (differs) | 2.46% > $0 (differs) | No Income Tax | 4.45% > $0 (differs) |
| Bracket 2 | n.a. | n.a. | n.a. | 5.65% > $47,500 (differs) | 3.51% > $4,130 (differs) | n.a. | n.a. |
| Bracket 3 | n.a. | n.a. | n.a. | n.a. | 4.55% > $24,760 (differs) | n.a. | n.a. |
| Standard Deduction (Single Filer) | n.a. | $16,100 (differs) | $16,100 (differs) | $16,100 (differs) | $8,850 (differs) | n.a. | $21,708 (differs) |
| Personal Exemption (Single Filer) | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | Combined with the standard deduction into one credit (differs) |
| Personal Exemption Credit (Single Filer) | n.a. | n.a. | n.a. | n.a. | $176 (differs) | n.a. | Combined with the standard deduction into one credit (differs) |
| Personal Exemption per Dependent | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | $2,111 (differs) |
| Personal Exemption Credit per Dependent | n.a. | n.a. | n.a. | n.a. | $176 (differs) | n.a. | n.a. |
| Average Local Income Tax Rate | None | 0.06% (differs) | None | None | None | None | None |
| Surtaxes on Wage Income | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Individual Income Taxes: Marriage Penalty, Capital Income, Indexation
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Marriage Penalty | n.a. | No (differs) | No (differs) | No (differs) | No (differs) | n.a. | No (differs) |
| Married Couples Can File Separately on One Return | n.a. | No (differs) | No (differs) | No (differs) | No (differs) | n.a. | No (differs) |
| Convenience Rule | No | No | No | No | Yes (differs) | No | No |
| Interest Taxed | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Dividends Taxed | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Capital Gains Taxed | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Combined Capital Gains Tax Rate | n.a. | 4.4% (differs) | 5.3% (differs) | 4.1% (differs) | 4.55% (differs) | n.a. | 4.45% (differs) |
| Tax Brackets Indexed for Inflation | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Standard Deduction Indexed for Inflation | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Personal Exemption Indexed for Inflation | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Progressivity Ratio | n.a. | 1.00 (differs) | 1.00 (differs) | 1.00 (differs) | 1.00 (differs) | n.a. | 1.00 (differs) |
Individual Income Taxes: Other Individual Base Variables
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Federal Income Used as State Tax Base | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| Conformity Status | n.a. | Rolling (differs) | Static (current) (differs) | Rolling (differs) | Rolling (differs) | n.a. | Rolling (differs) |
| Credits for Taxes Paid to Other States | n.a. | Yes (differs) | Yes (differs) | Yes (differs) | Yes (differs) | n.a. | Yes (differs) |
| AMT Levied | n.a. | Yes (differs) | No (differs) | No (differs) | No (differs) | n.a. | No (differs) |
| Recognition of S Corporation Status | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Section 179 Expensing Limit | $2,560,000 | $2,560,000 | $2,560,000 | $2,560,000 | $2,560,000 | $2,560,000 | $2,560,000 |
| Tips | n.a. | Exempt (differs) | Exempt (differs) | Exempt (differs) | Taxable (differs) | n.a. | Taxable (differs) |
| Overtime | n.a. | Taxable (differs) | Exempt (differs) | Exempt (differs) | Taxable (differs) | n.a. | Taxable (differs) |
| Filing and Withholding Threshold Index | 10 | 0 (differs) | 1.98 (differs) | 10 | 0 (differs) | 10 | 3.333 (differs) |
Individual Income Taxes: Other Individual Income Variables
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Income Recapture | n.a. | No (differs) | No (differs) | No (differs) | No (differs) | n.a. | No (differs) |
Sales Taxes: Sales and Excise Tax Rates
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| State Sales Tax Rate | 4.00% | 2.90% (differs) | 6.00% (differs) | n.a. (differs) | 5.50% (differs) | 4.20% (differs) | 6.10% (differs) |
| Average Local Sales Tax Rate | 1.39% | 4.99% (differs) | 0.03% (differs) | 0.00% (differs) | 1.48% (differs) | 1.91% (differs) | 1.32% (differs) |
| Maximum Local Sales Tax Rate | 3.00% | 9.10% (differs) | 3.00% | None (differs) | 2.00% (differs) | 4.50% (differs) | 4.70% (differs) |
| Gasoline Tax (Cents per Gallon) | 24.00 | 30.18 (differs) | 33.00 (differs) | 33.75 (differs) | 32.70 (differs) | 30.00 (differs) | 32.55 (differs) |
| Diesel Tax (Cents per Gallon) | 24 | 35.68 (differs) | 33 (differs) | 30.5 (differs) | 32.1 (differs) | 30 (differs) | 38.55 (differs) |
| Cigarette Tax (Dollars per Pack of 20) | $0.60 | $2.24 (differs) | $0.57 (differs) | $1.70 (differs) | $0.64 (differs) | $1.53 (differs) | $2.20 (differs) |
| Beer Tax (Dollars per Gallon) | $0.0189 | $0.08 (differs) | $0.15 (differs) | $0.1387 (differs) | $0.31 (differs) | $0.2742 (differs) | $0.4387 (differs) |
| Spirits Tax (Dollars per Gallon) | $0.00 | $2.28 (differs) | $12.94 (differs) | $10.55 (differs) | $3.75 (differs) | $4.93 (differs) | $16.07 (differs) |
| Vapor Tax Ratio to Cigarette Tax | 39.25% | 146.5333% (differs) | n.a. (differs) | n.a. (differs) | 5.00% (differs) | n.a. (differs) | 185.7833% (differs) |
Sales Taxes: Business-to-Business Exemptions
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Business Inputs | Some Taxable | Some Taxable | Some Taxable | n.a. (differs) | Some Taxable | Some Taxable | Some Taxable |
| Farm Equipment | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Office Equipment | Taxable | Taxable | Taxable | n.a. (differs) | Taxable | Taxable | Taxable |
| Manufacturing Machinery | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Manufacturing Raw Materials | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Exempt | Exempt |
| Business Fuel and Utilities | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Business Leases and Rentals | Taxable | Taxable | Taxable | n.a. (differs) | Taxable | Taxable | Taxable |
| Information Services | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Software as a Service (SaaS) | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Taxable (differs) |
| Platform as a Service (PaaS) | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Digital B2B Products | Exempt | Exempt | Exempt | n.a. (differs) | Taxable (differs) | Taxable (differs) | Exempt |
| Payroll Services | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Data Center Purchases | Partial | Taxable (differs) | Exempt (differs) | n.a. (differs) | Exempt (differs) | Taxable (differs) | Exempt (differs) |
| Digital Advertising Tax | No | No | No | No | No | No | No |
Sales Taxes: Consumer Goods and Services in the Base
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Groceries | Exempt | Exempt | Taxable (differs) | n.a. (differs) | Exempt | Taxable (differs) | Alternate Rate (differs) |
| Clothing | Taxable | Taxable | Taxable | n.a. (differs) | Taxable | Taxable | Taxable |
| Prescription Medication | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Exempt | Exempt |
| Nonprescription Medication | Taxable | Taxable | Taxable | n.a. (differs) | Taxable | Taxable | Taxable |
| Gasoline | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Exempt | Exempt |
| Landscaping | Exempt | Exempt | Exempt | n.a. (differs) | Taxable (differs) | Taxable (differs) | Exempt |
| Repair Services | Taxable | Exempt (differs) | Exempt (differs) | n.a. (differs) | Taxable | Taxable | Taxable |
| Real Estate Services | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Parking | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Dry Cleaning | Taxable | Exempt (differs) | Exempt (differs) | n.a. (differs) | Exempt (differs) | Taxable | Taxable |
| Fitness Services | Exempt | Exempt | Taxable (differs) | n.a. (differs) | Taxable (differs) | Taxable (differs) | Taxable (differs) |
| Barber Services | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Veterinary Services | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| E-Books | Taxable | Taxable | Taxable | n.a. (differs) | Taxable | Taxable | Taxable |
| Streaming Video | Taxable | Taxable | Taxable | n.a. (differs) | Taxable | Taxable | Taxable |
| Medical Services | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Exempt | Exempt |
| Legal Services | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Financial Services | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Exempt | Exempt |
| Accounting Services | Exempt | Exempt | Exempt | n.a. (differs) | Exempt | Taxable (differs) | Exempt |
| Sales Tax Holiday | No | No | No | n.a. (differs) | No | No | No |
Sales Taxes: Sales Tax Structure
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Uniform Base Definitions | Yes | No (differs) | Yes | n.a. (differs) | Yes | Yes | Yes |
| Unified Tax Administration | Yes | No (differs) | Yes | n.a. (differs) | Yes | Yes | Yes |
| Safe Harbor for Remote Sellers | Gross Sales Threshold | Gross Sales Threshold | Gross Sales Threshold | n.a. (differs) | Sales or Transactions Threshold (differs) | Gross Sales Threshold | Gross Sales Threshold |
Property Taxes: Property and Capital Stock Tax Rates
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Property Tax Collections per Capita | $2,635 | $2,379 (differs) | $1,059 (differs) | $2,173 (differs) | $2,354 (differs) | $1,864 (differs) | $1,428 (differs) |
| Property Tax as a Percentage of Personal Income | 3.04% | 2.88% (differs) | 1.70% (differs) | 3.14% (differs) | 3.24% (differs) | 2.47% (differs) | 2.12% (differs) |
| Assessment Limit | Yes | No (differs) | No (differs) | No (differs) | No (differs) | Yes | No (differs) |
| Levy Limit | No | Yes (differs) | Yes (differs) | Yes (differs) | No | Yes (differs) | No |
| Capital Stock Tax Rate | 0.02% | None (differs) | None (differs) | None (differs) | Fixed dollar payment schedule (differs) | None (differs) | None (differs) |
| Capital Stock Tax Maximum Payment | Unlimited | n.a. (differs) | n.a. (differs) | n.a. (differs) | $11,995 (differs) | n.a. (differs) | n.a. (differs) |
| Payment Options for Capital Stock and Corporate Income Taxes | Pay both | n.a. (differs) | n.a. (differs) | n.a. (differs) | Pay both | n.a. (differs) | n.a. (differs) |
Property Taxes: Property Tax Bases
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Tangible Personal Property Tax | Yes | Yes | Yes | Yes | Yes | Partial (differs) | Yes |
| Tangible Personal Property De Minimis Exemption | $75,000 | $56,000 (differs) | $250,000 (differs) | $1,000,000 (differs) | None (differs) | n.a. (differs) | $30,100 (differs) |
| Intangible Property Tax | No | No | No | No | No | Yes (differs) | No |
| Inventory Tax | No | No | No | No | No | No | No |
| Real Estate Transfer Tax | No | Yes (differs) | No | No | Yes (differs) | Yes (differs) | No |
| Split Roll | Yes | Yes | No (differs) | Yes | No (differs) | Yes | Yes |
| Split Roll Ratio | 1.33 | 3.82 (differs) | 1.00 (differs) | 1.97 (differs) | 1.00 (differs) | 1.23 (differs) | 1.82 (differs) |
| Estate Tax | No | No | No | No | No | No | No |
| Inheritance Tax | No | No | No | No | 15% (differs) | No | No |
| Gift Tax | No | No | No | No | No | No | No |
Unemployment Insurance Taxes: UI Tax Rates
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Minimum Rate | 0.10% | 0.72% (differs) | 0.21% (differs) | 0.13% (differs) | 0.00% (differs) | 0.00% (differs) | 0.10% |
| Maximum Rate | 8.60% | 10.85% (differs) | 5.40% (differs) | 6.30% (differs) | 5.40% (differs) | 9.13% (differs) | 7.10% (differs) |
| Taxable Wage Base | $33,800 | $30,600 (differs) | $58,300 (differs) | $47,300 (differs) | $9,000 (differs) | $15,000 (differs) | $50,700 (differs) |
| Most Favorable Schedule: Minimum Rate | 0.00% | 0.51% (differs) | 0.18% (differs) | 0.00% | 0.00% | 0.00% | 0.00% |
| Most Favorable Schedule: Maximum Rate | 8.50% | 6.28% (differs) | 5.40% (differs) | 6.12% (differs) | 5.40% (differs) | 9.30% (differs) | 7.00% (differs) |
| Least Favorable Schedule: Minimum Rate | 0.00% | 0.75% (differs) | 0.96% (differs) | 1.62% (differs) | 0.00% | 0.00% | 0.00% |
| Least Favorable Schedule: Maximum Rate | 8.50% | 10.39% (differs) | 6.80% (differs) | 6.12% (differs) | 5.40% (differs) | 9.45% (differs) | 7.00% (differs) |
| Employer Contributions as a Share of Total Wages | 0.43% | 0.62% (differs) | 0.53% (differs) | 0.73% (differs) | 0.17% (differs) | 0.10% (differs) | 0.35% (differs) |
| Employer Contributions as a Share of Taxable Wages | 0.89% | 1.86% (differs) | 0.79% (differs) | 1.15% (differs) | 0.87% (differs) | 0.33% (differs) | 0.61% (differs) |
| Trust Fund Solvency Ratio | 2.36 | 0.4 (differs) | 1.47 (differs) | 1.59 (differs) | 1.31 (differs) | 1.7 (differs) | 1.15 (differs) |
| New Employer Rate | 3.00% | 1.70% (differs) | 3.34% (differs) | 3.00% | 2.50% (differs) | 1.20% (differs) | 3.00% |
Unemployment Insurance Taxes: Experience Formulas and Charging Methods
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Experience Formula Based On | Benefits Ratio | Reserve Ratio (differs) | Reserve Ratio (differs) | Reserve Ratio (differs) | Reserve Ratio (differs) | Reserve Ratio (differs) | Benefits Ratio |
| Benefits Charged in Proportion to Base-Period Wages | Yes | No (base-period employers in inverse chronological order) (differs) | No (most recent or principal employer) (differs) | Yes | No (base-period employers in inverse chronological order) (differs) | No (base-period employers in inverse chronological order) (differs) | Yes |
| Charged If Employee's Benefit Award Is Reversed | No | No | No | No | No | No | No |
| Charged for Reimbursements on Combined Wage Claims | Yes | No (differs) | No (differs) | Yes | Yes | Yes | No (differs) |
| Charged If Employee Left Voluntarily | No | No | No | No | No | No | No |
| Charged If Employee Was Discharged for Misconduct | No | No | No | No | No | No | No |
| Charged If Employee Refused Suitable Work | Yes | Yes | No (differs) | Yes | Yes | Yes | Yes |
| Charged If Employee Continues to Work Part-Time | No | No | No | No | No | Yes (differs) | No |
Unemployment Insurance Taxes: Other UI Base Variables
| Variable | Wyoming | Colorado | Idaho | Montana | Nebraska | South Dakota | Utah |
|---|---|---|---|---|---|---|---|
| Solvency Tax | Yes | Yes | No (differs) | No (differs) | No (differs) | Yes | No (differs) |
| Taxes for Socialized Costs or Negative Balance Employers | Yes | No (differs) | No (differs) | No (differs) | No (differs) | No (differs) | Yes |
| Loan and Interest Repayment Surtaxes | No | Yes (differs) | Yes (differs) | No | No | No | No |
| Reserve Taxes | No | No | Yes (differs) | No | Yes (differs) | No | No |
| Surtaxes for UI Administration or Non-UI Purposes | Yes | No (differs) | Yes | Yes | No (differs) | Yes | No (differs) |
| Temporary Disability Insurance | No | No | No | No | No | No | No |
| Voluntary Contributions | No | Yes (differs) | No | No | Yes (differs) | Yes (differs) | No |
| Years to Qualify for Experience Rating | 3 | 1 (differs) | 1.5 (differs) | 3 | 1 (differs) | 2 (differs) | 1 (differs) |
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About the Authors
Janelle Fritts is a Senior Policy Analyst with the Tax Foundation’s Center for State Tax Policy. She is the lead researcher on the annual State Tax Competitiveness Index and serves as a resource to policymakers in their efforts to modernize and improve the structures of their state tax codes. Her work has been cited in The New York Times, the Associated Press, Bloomberg, and numerous state media outlets across the country.
Jared Walczak is a Senior Fellow at the Tax Foundation, where he spent five years as Vice President of State Projects, and president of Walczak Policy Consulting.
Nicole Fox is a Policy Analyst with the Center for State Tax Policy at the Tax Foundation, where she serves as a resource to policymakers in their efforts to modernize and improve the structure of their state tax codes.
Katherine Loughead is the Vice President of State Tax Policy at the Tax Foundation, where she oversees the state tax policy team’s research agenda and serves as a resource to policymakers in their efforts to modernize and improve the structure of their state tax codes.
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