Wyoming is one of the few states I have not made it to within the Continental United States. It is on my list and I will get there one day, hopefully for a snow skiing trip and a fly fishing trip. Anyone know a good accountant who can help me make these business trips? (just kidding - my accountant is awesome!)
- Has the lowest population of any state in the U.S.
- The first U.S. state to give women the right to vote.
- Yellowstone was the first national park established in the U.S. Most of the park’s territory is within Wyoming boundaries.
- Black Thunder in Wright is the largest coal mine in the U.S.
- JCPenney got it start in Kemmerer.
- During the 1880s, Cheyenne was the wealthiest city in the U.S. resulting from booming cattle industry and the gold rush
- Famous folks who own real estate in Wyoming include Harrison Ford, Tiger Woods, Dick Cheney, and Charles Schwab.
- Nearly half (48%) of the land in Wyoming is owned by the U.S. government.
Sales Tax Facts
- Wyoming’s state sales tax rate is 4%, which is below the national median. Depending on local municipalities, the tax rate can be as high at 6%.
- Rates #1 in the Tax Foundation’s State Business Tax Climate Index of the 50 states and Washington DC due to low sales tax rates and the absence of a state income tax.
- Imposes sales tax on the retail sale or lease of tangible personal property, admissions fees, and some services. Prescription drugs and groceries are exempt from sales tax. Candy is considered a food in Wyoming and not subject to sales tax unless it is sold in vending machine.
- Individuals aged 65 or older and disabled persons over age 18 with an income of less than $17,500 (single persons) or $28,500 (married persons) in the preceding year are eligible for a sales tax refund.
- Destination sourcing state. This means that sales tax is based on the location of the buyer, not the seller. Wyoming is a member of Streamlined Sales Tax (SST)
- A wedding cake that is picked up from a grocer or bakery is exempt in Wyoming unless the vendor provides plates, forks, and or serving utensils, in which case it is taxable. Wedding cakes sold and served by caterers are considered prepared food and are taxable.
Did You Know?
Well intentioned. Wyoming recently changed the rules for sales tax on tools lost down holes during the construction of oil and gas wells. Now, if the tool is lost or damaged beyond repair during the “pre-production casing phase” of building the well, then the customer is not charged sales tax on the tool. However, if the tool is lost or damaged beyond repair during the production casing phase, the tool is subject to sales tax. Taxability rules for services performed within an oil or gas well site remain unchanged.
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