Taxation in Wyoming

Updated on Tuesday 25th June 2019

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Wyoming is probably the most tax-friendly American state and that because there is no personal income tax and no corporate income tax. However, it is good to know that the franchise tax or fee is imposed in Wyoming and it is also called the state’s annual license tax. Foreign investors who want to start a business in Wyoming can address their inquiries to our team of company formation agents in USA. We are at your disposal with support and information about the company incorporation in Wyoming and about the taxes imposed in this state.

Is there a corporate tax in Wyoming?

No, there is no corporate income tax in Wyoming for companies established in Wyoming. This is why numerous international investors choose this state for business and benefit from a series of tax advantages. However, it is important to have an idea about the entire tax structure and comply with the requirements involved. You may get in touch with our team of consultants and find out more details in this sense and also ask for support for company registration in USA.

What is the sales tax in Wyoming?

The sales tax rate in Wyoming is set at 4%, with the exception of groceries and prescription drugs which are not subject to such a tax. In addition, it is good to know that municipalities can impose their own sales tax not exceeding 2%. The real estate properties are also subject to the sales tax in Wyoming. It is an obligation to register for sales tax with the Wyoming Department of Revenue, whether through the local offices or on the official website, and complete support is offered by our team of consultants at any time.

The annual license tax in Wyoming

Because there is no corporate income tax imposed on businesses in Wyoming, entrepreneurs will have to pay the annual license tax or the franchise tax as it is known. This kind of tax is applicable to limited liability companies, limited partnerships, and corporations, and it represents $50. Even if Wyoming has no personal or corporate income tax, companies established in other American states generating profits in Wyoming will have to pay attention to the taxes imposed in those states. This is also called Nexus, and if you find yourself in this situation, feel free to address to our team of accountants in USA

Other tax facts in Wyoming

The appealing tax structure in Wyoming is essential to international investors who want to do business in this state. It is important to have access to complete information about how the business is done and about the taxation system in Wyoming. Here is additional information about the taxes in this state:
  1. The use tax is set at 4% and applicable to goods brought from other places, in Wyoming.
  2. The property tax rate is set at 11.5% in Wyoming, and at 9.5% for commercial and industrial properties.
  3. Wyoming gas tax is set at 24 cents/gallon, the 18th lowest rate in USA.
  4. The average tax rate for homeowners in Wyoming is approximately $1,256/year.
It is good to know that there is no inheritance tax and no inheritance tax imposed in Wyoming. If you would like to know more about the taxation in Wyoming, you may address to our team of consultants. You are also invited to read the general guide to company incorporation in Wyoming and find out information about how you can register a company in Wyoming.

Making investments in Wyoming

Wyoming is highly appreciated from a business point of view by many investors and that because the taxation structure is quite advantageous. Even if it is a small state of approximately 600,000 residents, there are plentiful investment opportunities and interesting benefits for international investors in USA. For instance, a company in Wyoming can hire local staff and benefit from an experienced labor force in most of the sectors. The investment considerations when it comes to opening a company in Wyoming might refer to low property taxes, and the opportunity of starting a real estate company, one of the appealing business sectors in this state. Cheyenne, Hillsdale or Warren are important real estate markets in Wyoming, so there is plenty of room for investors wanting to set up such activities. In addition to the above-mentioned reasons to invest in Wyoming, businessmen should bear in mind the fact that the company incorporation in this sense is not subject to complex requirements or formalities.
We kindly invite you to get in touch with our team of company formation representatives in USA and ask complete information about the taxation for companies in Wyoming. You may also solicit support for opening a company in this state, and about the USA company formation.