JACKSON, Wyo. — Wyoming is living up to its reputation as a tax haven.
A study from WalletHub put Wyoming solidly at the bottom of “tax burdened” states, or states that tax their residents most aggressively. The Equality State came in 47th. In other words, Wyoming has the fourth lowest tax burden of all 50 states.
WalletHub measured tax burden according to three things: property tax as a share of personal income, individual income tax as a share of personal income, and total sales and excise tax as a share of personal income. Wyoming has no income tax and ranked 35th for sales and excise tax. It ranked higher for property tax burden.
Of course, plenty of people have already caught onto Wyoming’s low tax burden. The state’s lax laws have attracted the “uber-wealthy” to the state, and especially to Teton County, which means the wealth gap is growing, too.
Just how Wyoming’s tax laws affect Wyomingites finances by April 18 this year, when Uncle Sam takes his cut, is still largely personal. If you need help filing your taxes this year, Teton County Library is offering free tax prep through April 9.
