Taxes & Incentives

 

LCBA understands that each business not only offers unique advantages to the community, but has unique needs as well. Therefore, the LCBA staff is willing to work with interested businesses on a one-on-one basis to develop specific strategies and possible incentives.

Wyoming Taxes & Tax Exemptions

  • State Income Tax: Wyoming has no corporate or personal income tax.
  • Business Inventory Tax: Wyoming imposes none.
  • Property Tax: Wyoming property taxes are some of the lowest in the USA.
  • Sales Tax: The State of Wyoming’s sales tax is 4%. In Albany County the sales tax is 6%, due to an additional 1% sales tax and 1% special use tax.
  • Sales & Use Tax Exemptions: Wyoming imposes no sales tax on energy consumed in the process of manufacturing. Wyoming imposes no sales tax on the purchase of equipment that will be used in the manufacturing process. There are also sales tax exemptions for certain equipment purchased for data centers.

Other Incentives

Connectivity with Government:

Businesses can access and build relationships with local, state and national representatives. Companies in Laramie, Wyoming can enjoy accessibility that other states simply can’t provide. For example, the governor meets with interested companies regularly to hear needs and establish long-term relationships.

 

HUBZone:

HUBZone – Albany County is a Historically Underutilized Business Zone (HUBZone) determined by the United States Small Business Administration. This includes gaining government contracts. By meeting certain criteria, like having your principal office in Albany County and employing local workforce, you could qualify for several federal incentives.

 

Rural Energy for America Program (REAP) from USDA:

A federal program by the U.S. Department of Agriculture with grants available up to $500,000 for using renewable and efficient energy sources.