Business Taxes

• Wyoming does not levy a corporate income tax and earns most of its revenue from property and mineral taxation and sales and use taxes. Wyoming does charge a franchise or license fee on businesses, with the fee based on the amount of employees and assets located within the state.
  
  

Property Taxes

• Wyoming levies a tax on properties owned by businesses with different types of property assessed at different rates. As of 2010, farmland was taxed at 9.5 percent of agricultural value and residential and commercial properties were taxed at 11.5 percent of fair market value. The local authorities then assess a mill rate to calculate the property taxes owed.
  
  

Tax Foundation

• Wyoming was named the second best state in the 2009 State Business Tax Climate Index compiled by the Tax Foundation. This index measures the tax competitiveness of each state based on the level and type of taxes charged. Wyoming finished first in the index from 2003 to 2008.