Introduction
Wyoming is one of the few states that does not have a state income tax, meaning residents do not need to file a state tax return. However, Wyoming residents must still file a federal tax return and may have other tax obligations, such as property taxes, sales taxes (for business owners), and federal self-employment taxes.
This guide explains why Wyoming residents don’t need to file a state tax return, what taxes still apply, and how to stay compliant with federal tax laws.
Do Wyoming Residents File State Income Taxes?
- No, Wyoming does not have a state income tax, so residents do not file a state tax return.
- This applies to all income types, including wages, self-employment income, rental income, and investment income.
- Wyoming residents only file a federal tax return (Form 1040) with the IRS.
What Other Taxes Do Wyoming Residents Pay?
Although Wyoming does not tax income, residents still pay:
- Federal Income Tax – Required for all U.S. taxpayers.
- Property Tax – Wyoming has a low property tax rate of 0.57%.
- Sales Tax – Wyoming has a 4% state sales tax, with local taxes adding up to 2% more.
- Self-Employment Tax – Freelancers and business owners pay 15.3% self-employment tax on net earnings.
- Business Taxes – Wyoming LLCs and corporations must file an annual report and pay a $60 minimum fee.
How Does Wyoming Compare to Other States?
| State | State Income Tax Rate | State Tax Return Required? |
|---|---|---|
| Wyoming | 0% | No |
| Florida | 0% | No |
| Texas | 0% | No |
| California | 1% – 13.3% | Yes |
| New York | 4% – 10.9% | Yes |
What Taxes Must Wyoming Businesses Pay?
While individuals do not file a Wyoming state tax return, business owners have tax obligations, including:
- Wyoming LLC Annual Report – Due on the business formation date each year.
- Sales Tax Returns – Required for businesses that sell taxable goods or services.
- Federal Business Tax Return – Filed based on the business structure:
- LLCs: Report income on Schedule C (Form 1040).
- Corporations: File Form 1120 (C-Corp) or 1120S (S-Corp).
IRS Tax Filing Requirements for Wyoming Residents
Even though Wyoming has no state tax filing, residents must:
- File a federal income tax return (Form 1040) by April 15, 2025.
- Make quarterly estimated tax payments if self-employed.
- Report investment income and capital gains on federal taxes.
Wyoming Property Tax & Sales Tax Filing Deadlines
- Property Tax Due Dates: November 10, 2025 (First Half) & May 10, 2026 (Second Half).
- Sales Tax Returns (For Businesses):
- Monthly Filers: 15th of each month.
- Quarterly Filers: April 15, July 15, October 15, January 15.
Conclusion
Wyoming residents do not need to file a state tax return but must comply with federal tax laws, property tax payments, and business tax filings. Business owners should also file required Wyoming annual reports and sales tax returns.
For expert tax assistance, schedule a meeting with our CPA Anshul Goyal by clicking at https://calendly.com/anshulcpa/ now.
Frequently Asked Questions (FAQs)
1. Do Wyoming residents have to file a state income tax return?
No, Wyoming does not have a state income tax, so residents only file a federal return.
2. What taxes do Wyoming residents pay?
Wyoming residents pay federal income tax, property tax, and sales tax on purchases.
3. Do Wyoming business owners file state tax returns?
No, but Wyoming businesses must file annual reports and sales tax returns if applicable.
4. When is the federal tax deadline for Wyoming residents?
The 2025 tax deadline is April 15 (October 15 with an extension).
5. Should I hire a CPA for tax planning in Wyoming?
Yes, a CPA helps maximize deductions, file taxes correctly, and ensure compliance.
About Our CPA
Anshul Goyal, CPA EA FCA is a licensed Certified Public Accountant and an IRS Enrolled Agent (EA). He specializes in Wyoming tax planning, federal tax filing, and business tax compliance.
Schedule a consultation today with Anshul Goyal, CPA, for expert tax guidance.