Does Wyoming Have a Minimum Franchise Tax?

No. Wyoming does not impose a franchise tax on LLCs or other business entities. Instead, Wyoming LLCs pay an annual license tax of $60 or $0.0002 of Wyoming assets, whichever is greater, due with the annual report (Wyo. Stat. §§ 17-29-209, 17-29-210). This is a mandatory annual fee, not a franchise tax.

What You Pay Instead

Wyoming has no franchise tax, income tax, or gross receipts tax. Your only recurring state business obligation is the annual license tax. The $60 minimum applies to most LLCs. If your Wyoming assets exceed $300,000, you pay $0.0002 per dollar of assets instead—but only if that amount exceeds $60 (Wyo. Stat. § 17-29-210).

File your annual report on or before the first day of your formation anniversary month. Include your capital, property, and assets located in Wyoming. The license tax is due with this filing.

Key Consequences of Non-Payment

Failure to pay the license tax within 60 days of the due date triggers automatic administrative dissolution (Wyo. Stat. § 17-29-209). Reinstatement requires filing each delinquent annual report, paying all back license taxes, and submitting a $100 reinstatement fee within two years.

Why This Matters

Wyoming's tax structure attracts business formation. Combined with no state income tax or corporate income tax, the $60 annual license tax is substantially lower than franchise taxes imposed by other states. Many states charge $100–$800+ annually; Wyoming's flat $60 minimum keeps compliance costs minimal.

Bottom Line

Budget $60 annually for Wyoming's license tax requirement. File your annual report by your anniversary date each year. If you have significant Wyoming assets, verify whether the asset-based calculation exceeds $60. Contact the Wyoming Department of Revenue at https://revenue.wyo.gov/ for asset valuation questions.

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This is general information, not legal advice.