State Taxes In Wyoming

Personal Income Tax

• There is no personal or corporate income tax levied in Wyoming.
• Wyoming does not levy a tax on retirement income earned and received from another state.

• Wyoming taxes sales at 4 percent.
• Each county has the option of levying a 1 percent tax.
• Wyoming counties also charge a lodging tax that ranges from 2 percent to 4 percent.
• Wyoming collects a use tax of 4 percent on items purchased elsewhere and brought into Wyoming.

• Property taxes are based on the assessed value of the property and 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; "taxable value" means a percent of the fair market value of property in a particular class as follows: gross product of minerals and mine products, one hundred percent (100 percent); property used for industrial purposes, eleven and one-half percent (11.5 percent); and all other property, real and personal, nine and one-half percent (9.5 percent).
• 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 must pay 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.

• Wyoming does not impose a tax on intangible assets such as bank accounts, stocks or bonds.

• There is no inheritance and limited Wyoming estate tax related to federal estate tax collection.