A key benefit of doing business in Wyoming is having no corporate or personal income taxes. Besides allowing business owners to enjoy higher earnings, the lack of an individual income tax contributes to a lower cost of labor in the state.
Wyoming has consistently ranked #1 for business-friendly taxation on the Tax Foundation’s State Business Tax Climate Index every year.
The Burlington Northern Santa Fe Railroad runs directly through Casper with a railyard right in the heart of town and various rail spurs to businesses and industrial parks. Rail access is a key mode of transportation for some businesses.
Grants, Loans, Bonds
If you would like information about what grants, bonds or loans the State of Wyoming has to offer, please visit the Wyoming Business Council website.
More about Taxes
For manufacturers in the 31-33 NAICS Classifications: Wyoming has a sales and use tax exemption for equipment used directly and predominantly in the manufacturing process.
According to the Wyoming Taxpayers Association, Wyoming’s personal tax burden is one of the lowest in the nation and property taxes are low in comparison to most other states. The state assesses agricultural, residential and commercial at 9.5% of fair market value; industrial at 11.5% of fair market value; and minerals at 100% of fair market value.
For-profit corporations, limited liability corporations, limited partnerships and registered limited liability partnerships do pay an annual license tax/franchise fee to the Wyoming Secretary of State. The filing fee for most entities is $100 and non-profit corporations pay a flat fee of $25.
Wyoming’s Department of Workforce Services can provide information about Wyoming’s taxable wage base for Unemployment Insurance. The quarterly wage rate for Workers Compensation is calculated as $11,443.23.
The mission at Manufacturing-Works (M-W) is to help Wyoming businesses succeed. To do that, M-W provides a broad range of services, delivered by an experienced staff and world class trainers. Their nationwide network can address a wide range of problems. M-W teaches proven systems for a consistent path to business growth and profitability. M-W can complete the energy audit for your business to determine what percentage of your utility costs go directly into the manufacturing process and are thus eligible for the state tax exemption.
CAEDA’s professional staff is happy to provide more information upon request to help our existing businesses with retention as well as expansion and helping businesses relocate. If you would like more information about the area as you look to relocate, please contact one of our business development professionals:
For any other inquiries call 307-577-7011 or email.