Wyoming Tax Refund Status 2015 – 2016 Online
Wyoming is one of those few states that don’t implement a personal income tax. Like the other states who boldly do not collect personal income tax, Wyoming instead depends upon its sales, property, use, and other taxes to make up for what it would normally get.
The department of revenue in Wyoming is actually divided between six different divisions. Those are: Ad Valorem Tax Division, the Excise Tax Division, the Information Technology Division, the Administrative Services Division and the Liquor Division.
Wyoming implements a sales tax of 4% on most goods besides prescription drugs and foods purchased for home consumption. Like most states, counties and local powers can levy an additional sales tax which in Wyoming comes to a surprisingly moderate extra 1%. There’s also a county lodging tax in Wyoming which can be anywhere from 2-4%. The use tax rate (which is for goods purchases tax-free out of state but is used in Wyoming) is the same as the sales tax rate.
The gasoline excise tax is a surprisingly low 14 cents per gallon which is the same rate for diesel fuel as well. The gasohol excise tax is also 14 cents per gallon and the cigarette excise tax is a surprisingly low 60 cents per pack.
Property tax rates are levied by a diverse crowd of entities. Those are: counties, school districts, cities, towns, and special tax districts. Eventually a tax notice will indicate how much you owe to whatever entity applies to your situation. All property taxes are based on assessed value which in Wyoming works on a fractional assessment basis which means you is only being taxed on a percent of the total value of your property. There is no inheritance tax and the estate tax is limited to federal collections. There are a number of special taxes related to the production of petroleum and work involving minerals in the state of Wyoming.
Because Wyoming is a unique state when it comes to taxes, you should refer first and foremost to the Wyoming Department of Revenue’s website for information, FAQ’s, and any tax forms you may need to satisfy the requirements of state filing. Like most states, Wyoming would like to encourage you to e-file your tax return for the sake of saving not only time and money, but paper waste as well.