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Wyoming was the top-ranking state for the fifth year in a row mostly because of its lack of corporate or individual income tax. Additionally, it has no inventory, franchise, occupation, or value ...
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly. This table ...
Wyoming doesn’t have a personal income tax or a business income tax, which makes it a business-friendly state. In addition, sales tax is a reasonable 4%, with local taxes that bring the rate up ...
Unlike most other states, Wyoming levies no individual or corporate income tax. It also assesses no tax on retirement income earned and received from another state. Wyoming has a state sales tax of 4%. Counties have the option to collect an additional 1% tax for general revenue and a 1% tax for specific purposes, if approved by voters.
Illinois, however, which imposes a 4.95% fixed tax, has a flat tax because when the tax was first implemented, it was unclear whether a progressive income tax was constitutional under the state ...
The Department of Revenue is a department of the Wyoming state government responsible for the collection of mineral and excise taxes as well as valuing property and the wholesale distribution of alcoholic beverages and enforcement of liquor laws. Personal or corporate income taxes are not levied.
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