Wyoming covers 250,000 km² in the western United States. With just over 575,000 residents, it is the least populous state in the US, and its population density is the second-lowest in the country. Wyoming is sometimes called the Cowboy State, but it is best known as the "Equality State", true to its state motto, "Equal Rights". The landscape is defined by the wide plains of eastern Wyoming and the famous Rocky Mountains. The capital, Cheyenne, has just under 60,000 residents and is also the state's largest city.
Wyoming ranks second in the Pollina Corporate Top 10 Pro-Business States Report. There is no income tax in Wyoming, for example, and sales and property taxes are low. The same goes for operating costs. The open door of the legislature and the governor is a big advantage, especially for startups in heavily regulated industries. On top of that come numerous grant, loan and incentive programs.
Where is Wyoming?
Number one in energy exports
Energy production and mining are two major industries in Wyoming's economy. Energy from oil, gas and coal accounts for almost ten percent of total US energy production.
Wyoming is the second-largest onshore energy producer of all US states. Only Texas ranks ahead of the Equality State. But look at net energy exports and the tables turn: Wyoming is number one. The state accounts for 29 percent of all US net energy exports. To put that in perspective, Texas comes second with 15 percent. If Wyoming were its own country, it would rank third in the world for energy produced minus energy consumed (Energy Information Administration, 2014).
Wyoming also leads the United States in resource extraction. The state is the nation's number one producer of coal, uranium, trona and bentonite.
Building on its strengths
Many world-class companies dedicated to producing energy products already call Wyoming home. The state has the infrastructure and workforce needed to export minerals around the world.
Even so, billions of dollars are being invested to strengthen the sector further. In 2020, the state installed wind turbines producing 1,123 megawatts of power, nearly doubling its capacity. If the Chokecherry and Sierra Madre wind farm is connected to the grid in 2026 as planned, it will be the largest wind farm in the US.
Wyoming is also focused on finding new and innovative ways to add value to its natural resources. Through partnerships, researchers, lawmakers and industry work together to develop new technologies.
Investing in a diversified economy
Wyoming doesn't just talk about diversifying its economy, it is making a real effort to do it. The technology sector, for example, is set to become one of the state's top industries, and the state is investing heavily to get there.
Exports of manufactured goods already grew by 28 percent between 2010 and 2015. Here, too, the state has a track record of success.
To be even stronger and more versatile in the future, the state is investing massively in its workforce of today and tomorrow, offering excellent education and training opportunities. Forbes, for example, ranks the University of Wyoming number 9 among its "Best Value Colleges".
Income tax in Wyoming
Wyoming levies no income tax. You do, however, pay federal income tax.
Corporate tax in Wyoming
Wyoming levies no corporate tax. You do, however, pay federal corporate tax.
Sales tax in Wyoming
The USA has no VAT on the European model. Instead, states, counties and municipalities levy a local sales tax on the sale of goods (but not services).
Sales tax rate in Wyoming
Wyoming's state sales tax is 4%. Counties usually add 1 to 2% on top as a local option, so the combined rate is typically 5 to 6%.
Wyoming nexus laws & sales tax
Learn more about economic nexus laws and sales tax.
Effective date
February 2019
Included transactions:
Gross revenue from sales of tangible personal property, admissions or services delivered into the state (including taxable, exempt and wholesale sales)
Treatment of exempt sales:
Exempt sales and exempt services count toward the threshold
Trigger:
Sales only (the 200-transaction rule was repealed effective July 1, 2024)
Sales/transaction threshold:
$100,000; the 200-transaction threshold no longer applies as of July 1, 2024
Evaluation period:
The threshold applies to the current or immediately preceding calendar year
Additional information:
- Registration requirements: A remote business may be required to register and start collecting Wyoming sales tax once it exceeds the economic nexus threshold.
- Remote seller information
- HB 19
Wyoming marketplace sellers & sales tax
Learn more about registration requirements for marketplace sellers
Effective date for marketplace facilitators:
Economic nexus threshold:
More than $100,000 in gross sales in Wyoming in the current or previous calendar year (the 200-transaction threshold was eliminated as of July 1, 2024). Remote sellers should exclude marketplace sales when calculating the threshold. Marketplace facilitators include all sales made through the marketplace when calculating the threshold.
Registration requirements:
- Remote multichannel sellers: Once you exceed the economic nexus threshold, you must register with the Wyoming Department of Revenue (DOR) and collect Wyoming sales tax on sales not taxed by a marketplace facilitator.
- Remote marketplace sellers: You don't need to register when you exceed the economic nexus threshold, as long as the marketplace facilitator holds a license from the Wyoming DOR to collect and remit sales tax on sales made through its platform. Contact the Wyoming DOR for more information.
- In-state multichannel sellers: You must register with the Wyoming DOR and collect tax on sales not taxed by a marketplace facilitator.
- In-state marketplace sellers: You don't need to register. Contact the Wyoming Department of Revenue for more information.
- Learn more here.
Wyoming is one of the most popular states to form a company in: read everything that matters on our page about company formation in Wyoming, and specifically about the Wyoming LLC. For a look at every state, see our overview of US states. How a tax-free US LLC without a US permanent establishment works is explained by our sister site zerotax.llc.
Our services for Wyoming:
Wyoming is one of the states where we form companies for you. What's included and what it costs is on our page about company formation in Wyoming; in a consultation, we check whether Wyoming is the right fit for your plans.