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Below is a snapshot of key features of Wyoming's tax system. (Scroll Down)
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State & Local Revenue (FY10)
- General Revenue, Own-Source (GROS): $5.8 billion
- General Revenue as a Share of Income: 23.6%
- Tax Revenue: $3.5 billion
- Tax Revenue as Share of income: 14.0%
- Personal Income Tax (Share of Tax Revenue): 0.0% (46 out of 51)
- Corporate Income Tax (Share of Tax Revenue): - % ( 48 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 31.2 % ( 32 out of 51)
- Property Tax (Share of Tax Revenue): 42.5 % ( 8 out of 51)
- Other Taxes (Share of Tax Revenue): 23.7 % (4 out of 51)
Personal Income Tax Features (2012)
- Range of Tax Rates: N/A
- Standard Deduction: N/A
- Personal Exemption: N/A
- Dependent Exemption: N/A
- Earned Income Tax Credit (EITC): None
- No broad based personal income tax
Corporate Income Tax Features (2012)
- Range of Tax Rates: N/A
- Income Level at Which Top Rate Applies: N/A
- Combined Reporting: N/A
- Apportionment Factor (Payroll): N/A
- Apportionment Factor (Property): N/A
- Apportionment Factor (Sales): N/A
Sales Tax Features (2012)
- State Sales Tax Rate: 4.00%
- Average Local Sales Tax Rate: 1.15%
- Average Combined State & Local Sales Tax Rate: 5.15%
- State Sales Tax Treatment of Groceries: Exempt
- Local Sales Tax Treatment of Groceries: Exempt
- Number of Services Taxed: 58 out of 168 surveyed
- Streamlined Sales Tax Membership: Full
Property Tax Features (2012)
- Does not provide a meaningful homestead exemption or circuit breaker for non-elderly taxpayers.
- Comparatively low property taxes.
- Majority of property taxes paid by mineral industry.
Other Tax & Revenue Features (2012)
- Gasoline Tax Rate (per gallon): $0.14
- Diesel Tax Rate (per gallon): $0.14
- Cigarette Tax Rate (per pack): $0.60
- Estate or Inheritance Tax: No
- Net Lottery Sales Per Capita: N/A
Tax Policy Oversight
- Tax Expenditure Report: None
- Tax Incidence Analysis Capability: None
Last Updated October 4, 2012
Sources & Glossary
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