Wyoming Basic Business Taxes | Area Development Online

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Wyoming Basic Business Taxes

Area Development Online Research Desk (Feb/Mar 09)

Corporate income tax:
Wyoming imposes no corporate income tax and no personal income tax.

Sales and use taxes:
A 4 percent state sales tax is imposed on retail sales, rentals, and enumerated services. The tax is levied on gross receipts from retail sales. A 4 percent use tax based on the sales price of tangible personal property is levied on the use, consumption, or storage of tangible personal property in the state and on such property sold and delivered from out of state. Counties are authorized to levy up to an additional 3 percent sales tax, which is subject to voter approval.

Property tax:
All property, other than intangible personal property, is subject to taxation, unless specifically exempted. Residential and commercial properties are generally assessed at 9.5 percent of their market value. Industrial property is assessed at 11.5 percent. The mill levy for most tax districts in Wyoming ranges from 60 to 120 mills.

Business inventory:
All inventories of a merchant or manufacturer are exempt from property taxation.

Goods in transit:
Personal property in transit in interstate commerce, as well as goods manufactured or assembled in Wyoming when the final destination is out of state, is exempt from property tax.

Pollution-control equipment:
Property used for pollution-control purposes is exempt from property tax.

Transportation equipment:
Aircraft, railroad rolling stock, trucks, truck trailers, semi trailers, and trailers are exempt from the sales tax if they are used in interstate transportation and operated by holders of relevant federal permits or authority.

Manufacturing machinery tax exemption:
As of July 1, 2004, the lease or sale of manufacturing machinery used directly and predominately in the manufacturing process is exempt from sales/use tax.

Industrial fuels and raw materials:
Property that becomes part of or that is used in the manufacturing, compounding, or processing of tangible personal property is exempt from sales and use taxes. This exemption includes containers, shipping cases, and labels.

Additionally, fuel for transporters and fuel or power consumed directly in manufacturing or processing are exempt from sales tax.

Wyoming State Contact:
Wyoming Business Council
214 West 15th Street
Cheyenne, WY 82002
(307) 777-2800
Fax: (307) 777-2838

Incentive and tax information is provided to Area Development by each state’s economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings.