Overview of Wyoming Taxes
Wyoming has no state income tax. At 4%, the state’s sales tax is one of the lowest of any state with a sales tax, though counties can charge an additional rate of up to 4%. Wyoming’s average effective property tax rate is also on the low side at 0.61%.
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Your Income Taxes Breakdown
| Tax Type | Marginal Tax Rate | Effective Tax Rate | 2023 Taxes* |
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* These are the taxes owed for the 2023 - 2024 filing season.
Your 2023 Federal Income Tax Comparison
- Your marginal federal income tax rate
- Your effective federal income tax rate
- Your federal income taxes
Total Estimated 2023 Tax BurdenIncome Tax $ Sales Tax $ Fuel Tax $ Property Tax$ Total Estimated Tax Burden $ Percent of income to taxes = % | $ |
- About This Answer
Our income tax calculator calculates your federal, state and local taxes based on several key inputs: your household income, location, filing status and number of personal exemptions.
How Income Taxes Are Calculated
- First, we calculate your adjusted gross income (AGI) by taking your total household income and reducing it by certain items such as contributions to your 401(k).
- Next, from AGI we subtract exemptions and deductions (either itemized or standard) to get your taxable income. Exemptions can be claimed for each taxpayer as well as dependents such as one’s spouse or children.
- Based on your filing status, your taxable income is then applied to the the tax brackets to calculate your federal income taxes owed for the year.
- Your location will determine whether you owe local and / or state taxes.
- Last Updated: January 1, 2024
When Do We Update? - We regularly check for any updates to the latest tax rates and regulations.
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Taxes in Wyoming
Wyoming State Tax Quick Facts
- Income tax: None
- Sales tax: 4.00% - 6.00%
- Property tax: 0.61% average effective rate
- Gas tax: 24 cents per gallon of regular gasoline and diesel
If you’re looking to lower your annual tax bill, the state of Wyoming would be a good choice for relocation. For starters, there’s no state income tax in the Cowboy State. But that’s not all that Wyoming has going for it. The state’s average effective property tax rate is just 0.61%. Likewise, the state’s average sales tax rate (incorporating state and local rates) is only 5.518%. Even Wyoming’s gas tax is lower than average at 24 cents per gallon.
A financial advisor can help you understand how taxes fit into your overall financial goals. Finding a financial advisor doesn't have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
If you are planning on relocating to Wyoming and will be purchasing a home with a mortgage, check out our Wyoming mortgage guide for details on rates and getting a mortgage in the Cowboy State.
Wyoming Income Taxes
Whether you’re a doctor, rancher, teacher or carpenter, in Wyoming you won’t pay any state income tax. That’s right: Wyoming doesn’t tax personal income of any kind. This includes capital gains and income from interest. If you live in Wyoming, once you finish your federal tax return, you’re done with your taxes.
Wyoming Sales Tax
The state sales tax in Wyoming is 4%. On top of that rate, counties in Wyoming collect local sales taxes of up to 2%. The table below shows the total state and county sales tax rates for every county in Wyoming.
Wyoming does not tax sales of prescription drugs, medical equipment or food that is typically consumed at home. Prepared food (that you would eat in a restaurant, for example) is taxable. Over-the-counter medicine is taxable as well.
In addition to those general sales tax rates, local county and city governments can levy lodging taxes which apply to hotels and motels. These taxes can be as high as 5%, bringing the total maximum tax on lodging to 11%.
Wyoming Property Tax
On average, homeowners in Wyoming pay about $1,442 per year in property taxes. The state’s average effective property tax rate (annual taxes as a percentage of home value) is just 0.61%, one of the lowest nationally. Property taxes in Wyoming are collected by county tax districts. The revenue is used to fund local schools, hospitals, transportation authorities and other public programs.
If you are planning on relocating to Wyoming and will be purchasing a home with a mortgage, check out our Wyoming mortgage guide for details on rates and getting a mortgage in the Cowboy State.
Wyoming Gas Tax
The state gas excise tax in Wyoming is 24 cents per gallon. And the tax on diesel fuel is also 24 cents per gallon.
Wyoming Cigarette Tax
Cigarettes in Wyoming are taxed at a rate of 3 cents per cigarette or 60 cents per pack of 20. Cigarette vendors must purchase tax stamps and affix them to cigarette packages to demonstrate that the tax has been paid. Other tobacco products face an excise tax equal to 20% of the price, which is paid by the wholesaler.
Wyoming Alcohol Tax
Wyoming is a “control state” which means that it maintains a monopoly over the wholesale market for liquor and wine. Most control states replace traditional excise taxes with markups and fees, but in Wyoming markups and fees amount to less than 1 cent per gallon. According to the Tax Foundation, if Wyoming had an excise tax instead of its current system, it would be lowest excise tax in the country.
Wyoming does have an excise tax on beer, but it is extremely low. At just 2 cents per gallon, it is the lowest beer tax in the country.
Wyoming Estate Tax
There is no estate, inheritance or gift tax in Wyoming. While the federal estate tax may still apply to Wyoming estates, they will not be taxed by the state.
- With a population of just 577,737, Wyoming is the least populous of any state.
- Elected as Governor of Wyoming in 1925, Nellie Tayloe Ross was the first female governor of a U.S. State.
- The tallest building in Wyoming is the 200-foot White Hall, a campus housing building located on the campus of the University of Wyoming in Laramie.
