Does Wyoming Have High Taxes?

Wyoming Tax System Overview

• Wyoming has no state income tax. Sales tax ranges from 4-6%, and property taxes are among the lowest nationwide.
• The state has an average sales tax rate of 5.42%. There is no standard or personal deduction required, and no tax return needs to be filed.

Property Taxes and Tax-Friendliness

• Wyoming does have a property tax on land, with rates of 11.5% for industrial property and 9.5% for other property. Property taxes are due on September 1st each year.
• Wyoming’s tax structure benefits holding companies and those with investments by not taxing intangible assets or realized capital gains. This makes it a tax-friendly destination for retirees.

Wyoming’s Competitive Edge

• Wyoming is considered the most tax-friendly state in America for middle-class families and retirees due to its lack of income tax, low sales tax, and relatively low property taxes.
• Compared to high-tax states like New York and California, Wyoming provides economic advantages for retirees and holding companies, making it a retirement-friendly destination.