Tax Foundation ranks Wyoming #1
CASPER, Wyo. (Wyoming News Now) - The Tax Foundation ranked Wyoming the number one state. It says the index is designed to show how well states structure their tax systems and provides a road map for improvement.
The Wyoming Secretary of State’s data said there were 3,870 businesses filed in 2020. Monique Meese, the communications and policy director, said each year they see steady growth, but 202 was out of the norm. “We are very appreciative of the out-of-the-norm filing because that’s revenue for our state and for the people who live here,” Meese said.
Meese said Wyoming has no cooperated tax, no personal income tax, no franchise tax and no gross receipts tax. “We have really competitive rates to form a business. Our rates to form one keep your business going year to year are low and competitive nationwide. I think those are all factors in why we have a strong business economy even in a pandemic,” Meese said.
Filing a business with the Wyoming Secretary of State is only the first step. Meese adds the Secretary of State has resources to connect new business owners with the IRS or Workforce Services and happy to help with any filing difficulties.
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