Incentives

Corporate Income Tax

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

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 of out-of-state, are exempt from property tax.

Industrial Machinery and Equipment: Trucks, truck trailers, semi-trailers or trailers are exempt from sales tax if used in Interstate transportation and operated by holders of Interstate Commerce Commission permits.

Pollution Control Equipment

Property used for pollution control purposes is exempt from property 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 or power sold to manufacturers, processors or transporters is exempt from sales tax.

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. Mill levies average 60 to 90.

Sales and Use Taxes

A 4 percent 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 is imposed on the sales price of tangible personal property, levied on the use, consumption or storage of tangible personal property in the state and on such property sold and delivered in the state. Counties are authorized to levy up to an additional 2 percent sales tax, subject to voter approval. Uinta County currently imposes a 5 percent tax.

Worker’s Compensation Insurance

Wyoming has worker’s compensation rates that are among the lowest in the Nation, usually between one-halt to three-quarters of those in most states. Additionally, worker’s compensation discounts may be had for businesses with in-house safety policies and programs.