Wyoming

Wyoming is one of only seven states that does not tax individual wage income. It does collect a state sales tax, and counties have the option of adding an additional 1 percent to the state levy. More on Wyoming taxes can be found in the tabbed pages below.

Income Sales Property Estate Other Personal income tax The state of Wyoming does not levy a personal or corporate income tax.   Neither does the state assess any tax on retirement income earned and received from another state. Sales tax Wyoming has a state sales tax of 4 percent. The Department of Revenue also administers 49 sales and use tax exemptions. Counties have the option of collecting an additional 1 percent tax. There also is a county lodging tax that varies from 2 percent to 4 percent. The state also collects a use tax of 4 percent on items purchased elsewhere and brought into Wyoming. Taxpayers should file Form 14, Consumer Use Tax Return, to report and pay use tax on out-of-state purchases. Personal and real property taxes All property tax is based on the assessed value of the property. Wyoming's Department of Revenue's Ad Valorem Tax Division supports, trains and guides local government agencies in the uniform assessment, valuation and taxation of locally assessed property. "Assessed value" means taxable value. Wyoming is a "fractional assessment" state. This means property tax applies to only a fraction of the full market value of property. This fraction is the property's assessed value. For most property, only 9.5 percent of market value is subject to tax. Consequently, a home worth $100,000 on the market is only taxed on $9,500 in assessed value. The real effect of fractional assessments is to exempt $90,500 of the home's value from taxation. Statutes limit property tax rate increases. For county revenue, the property tax rate cannot exceed 12 mills (or 1.2 percent) of assessed value. For cities and towns, the rate is limited to 8 mills (0.8 percent). With very few exceptions, state law limits the property tax rate for all governmental purposes. Personal property held for personal use is tax exempt. Inventory if held for resale, pollution control equipment, cash, accounts receivable, stocks and bonds are also exempt. Other exemptions include property used for religious, educational, charitable, fraternal, benevolent and government purposes and improvements for handicapped access. Minerals are exempt from property tax, but incur a gross products tax and a severance tax when produced. Underground mining equipment is tax exempt. Wyoming also offers an array of partial exemptions and property tax relief programs for certain taxpayers, including veterans, homeowners, elderly and disabled taxpayers and lower-income citizens. Inheritance and estate taxes Because of the phaseout of the federal estate tax credit, Wyoming's estate tax is not imposed on estates of persons who died in 2005 and thereafter. There is no inheritance tax in Wyoming. Other Wyoming tax facts Wyoming does not impose a tax on intangible assets such as bank accounts, stocks or bonds. Neither does Wyoming assess any tax on retirement income earned and received from another state. For more information, check the Wyoming Department of Revenue Web page or call (307) 777-7961. To download tax forms on this site, you will need to install a free copy of Adobe Acrobat Reader. Click here for instructions.