Wyoming Corporation Taxes (2026)
Wyoming offers one of the most tax-efficient business environments in the United States. The state imposes no corporate income tax, no franchise tax, and no gross receipts tax on corporations. Your only recurring state tax obligation is an annual $60 minimum license tax based on assets, filed with your annual report to the Secretary of State.
No State Corporate Income Tax
Wyoming imposes no state corporate income tax on corporations, regardless of profitability or revenue. This applies equally to domestic corporations incorporated under Wyo. Stat. § 17-16-202 and foreign corporations authorized to transact business in the state. Your corporation pays no annual income tax to Wyoming, eliminating a major tax burden that exists in most other states.
This tax advantage extends to all business structures. S-corporations and C-corporations receive identical treatment at the state level—neither pays Wyoming corporate income tax. The absence of this tax makes Wyoming particularly attractive for corporations with significant in-state operations or headquarters.
Annual License Tax and Reporting Requirements
Every Wyoming corporation must file an annual report with the Secretary of State and pay a minimum annual license tax of $60.00, calculated based on your corporation's capital, property, and assets located in Wyoming. Under Wyo. Stat. § 17-16-1630(a), this license tax is the greater of $60.00 or two-tenths of one mill on the dollar ($0.0002) of reported assets.
Your annual report must be filed on or before the first day of your registration month each year. The report requires certification under penalty of perjury by your treasurer or other fiscal agent, including:
- Total capital, property, and assets located in Wyoming
- Names and addresses of all officers and directors
- Address of your principal office
Financial information in the annual report must be current as of the end of your corporation's fiscal year immediately preceding the filing date. All other information must be current as of the date you execute the report.
If your annual report is incomplete or inaccurate, the Secretary of State will notify you in writing and return the report for correction. Failure to file the annual report or pay the license tax when due can result in administrative dissolution of your corporation under Wyo. Stat. § 17-16-1420(a)(i).
No Separate Franchise Tax
Wyoming does not impose a separate franchise tax on corporations. Your only annual state tax obligation is the $60.00 minimum license tax based on assets, filed with your annual report. This eliminates the dual-tax burden that exists in states maintaining both corporate income taxes and franchise taxes.
The absence of a franchise tax simplifies your compliance obligations. You avoid calculating and paying taxes based on authorized shares, issued shares, or net worth—common franchise tax metrics in other jurisdictions.
S-Corporation Election at State Level
Wyoming recognizes S-corporation elections made for federal tax purposes. If you elect S-corporation status with the IRS on Form 2553, your Wyoming corporation is automatically treated as an S-corporation under state law. You do not file a separate state S-corporation election form.
S-corporations remain subject to Wyoming's $60.00 annual license tax and annual reporting requirements. However, they receive the same income tax exemption as C-corporations—no Wyoming state income tax applies to S-corporations either.
For federal purposes, S-corporations file Form 1120-S and pass through income, losses, and deductions to shareholders. Shareholders report their pro-rata share on their individual federal returns and pay federal income tax at individual rates. Wyoming's lack of state income tax means your S-corporation avoids state-level taxation of this pass-through income.
C-Corporation Taxation and Federal Obligations
C-corporations incorporated in Wyoming are subject to federal corporate income tax on net income. You must file Form 1120 (U.S. Corporation Income Tax Return) with the IRS annually, reporting your corporation's taxable income and calculating federal tax liability at the current federal corporate rate.
Wyoming imposes no state corporate income tax on C-corporations, but federal tax obligations remain. Your corporation pays federal tax on profits at the federal rate, currently a flat 21% under the Tax Cuts and Jobs Act.
C-corporations do not pass income through to shareholders. Instead, the corporation pays tax on earnings, and shareholders pay tax again on dividends received—creating "double taxation." However, C-corporations offer liability protection and can retain earnings without triggering shareholder-level taxation.
Federal Estimated Tax Payments
If your Wyoming corporation expects to owe federal income tax, you must make quarterly estimated tax payments to the IRS. The estimated tax payment deadlines are:
- April 15 (for income earned January 1 – March 31)
- June 15 (for income earned April 1 – May 31)
- September 15 (for income earned June 1 – August 31)
- January 15 (for income earned September 1 – December 31)
Estimated tax payments are made using Form 1120-W (Estimated Tax for Corporations) or through the IRS electronic payment system (EFTPS). Failure to make timely estimated payments can result in underpayment penalties, even if your corporation ultimately pays all tax owed with its annual return.
The amount of each estimated payment should equal 25% of your expected annual federal tax liability, or you can base payments on prior-year tax liability. Consult a tax professional to determine the appropriate payment amount for your specific situation.
Pass-Through Taxation for Single-Member and Multi-Member Entities
While this outline focuses on corporations, Wyoming's default federal tax treatment differs for other business structures. A single-member LLC is treated as a disregarded entity for federal tax purposes and files Schedule C (Profit or Loss from Business) with the owner's individual Form 1040. A multi-member LLC is treated as a partnership and files Form 1065 (U.S. Return of Partnership Income).
Both single-member and multi-member entities can elect to be taxed as C-corporations or S-corporations by filing Form 8832 or Form 2553 with the IRS. This election allows an LLC to receive corporate tax treatment while maintaining LLC liability protection under Wyoming law.
Wyoming imposes no state income tax on these pass-through entities either, making the state equally attractive for LLCs, partnerships, and corporations.
Self-Employment Tax Obligations
Self-employment tax applies to Wyoming corporations in specific circumstances. If your corporation is treated as a sole proprietorship or partnership for federal purposes (such as a single-member LLC taxed as a disregarded entity), you must pay self-employment tax on net business income.
Self-employment tax covers Social Security and Medicare taxes and is calculated on Schedule SE (Self-Employment Tax). The current self-employment tax rate is 15.3% (12.4% for Social Security on income up to $168,600 in 2024, and 2.9% for Medicare on all net earnings).
C-corporations and S-corporations do not pay self-employment tax on corporate income. Instead, officers and employees pay payroll taxes (FICA) on wages. S-corporation shareholders who are also employees must pay payroll taxes on reasonable compensation but may avoid self-employment tax on distributions exceeding reasonable salary.
Sales Tax Obligations
Wyoming imposes a mandatory statewide sales tax of 4% on retail sales of tangible personal property and certain services. Local jurisdictions may impose additional sales tax, resulting in combined rates between 4% and 8% depending on where the customer takes possession of goods.
Your corporation must register for a Wyoming sales tax license if you sell taxable items or services in Wyoming. Registration is handled through the Wyoming Department of Revenue's Excise Tax Division. Visit https://excise-tax-div.wyo.gov/general-administrative/excise-tax-faqs for registration information and FAQs.
Sales tax is collected from customers at the point of sale and remitted to the state monthly, quarterly, or annually depending on your sales volume. Failure to register, collect, and remit sales tax can result in penalties and interest charges.
Wyoming Department of Revenue Contact and Resources
The Wyoming Department of Revenue administers corporate tax compliance, annual reporting, and sales tax obligations. You can access forms, guidance, and filing information at https://revenue.wyo.gov/.
For questions about annual report filing, license tax calculations, or other corporate tax matters, contact the Secretary of State's office, which oversees corporate filings and license tax collection under Wyo. Stat. § 17-16-1630.
Formation Costs and Initial Fees
Incorporating in Wyoming requires filing Articles of Incorporation with the Secretary of State. The filing fee is $100.00 under Wyo. Stat. § 17-16-202. This one-time fee covers the cost of processing and filing your incorporation documents.
In addition to the filing fee, you must pay an initial $100.00 license tax fee when you incorporate. This is separate from the annual $60.00 license tax paid each subsequent year. Your total initial state incorporation cost is $200.00.
Foreign corporations authorized to transact business in Wyoming pay a $150.00 initial qualification fee instead of $100.00, plus the annual $60.00 license tax.
Comparison to Other States
Wyoming's corporate tax structure is among the most favorable in the United States. The combination of no state corporate income tax, no franchise tax, and a minimal $60.00 annual license tax creates significant tax savings compared to states with corporate income taxes ranging from 1% to 12%.
For example, a corporation with $1 million in net income would owe approximately $210,000 in federal tax (at the 21% federal rate) but zero Wyoming state tax. In a state with a 5% corporate income tax, that same corporation would owe an additional $50,000 in state tax.
Wyoming's tax advantage applies equally to all corporations, regardless of size or industry. Startups and established corporations benefit from identical tax treatment.
Annual Compliance Deadlines
Your Wyoming corporation must comply with the following annual deadlines:
Annual Report and License Tax: Due on or before the first day of your registration month each year. Your registration month is the month in which you incorporated or were authorized to transact business in Wyoming.
Federal Income Tax Return (Form 1120 for C-corporations; Form 1120-S for S-corporations): Due on or before the 15th day of the fourth month following the close of your tax year (typically April 15 for calendar-year corporations).
Estimated Federal Tax Payments: Due April 15, June 15, September 15, and January 15.
Payroll Tax Returns (if you have employees): Quarterly returns (Form 941) are due on or before the last day of the month following the end of each quarter.
Missing any of these deadlines can result in penalties, interest, and potential loss of good standing. Maintain a calendar of these dates and consider working with a tax professional to ensure timely compliance.
Record-Keeping Requirements
Under Wyo. Stat. § 17-16-1630(e), your corporation must preserve suitable records and books for three years at your principal place of business. These records must be sufficient to determine the amount of tax for which your corporation is liable under Wyoming law.
All records and books must be available for examination by the Secretary of State or designee during regular business hours, except as arranged by mutual consent. Failure to maintain adequate records or refusing inspection can result in penalties and administrative dissolution.
Maintain records including:
- Annual financial statements showing capital, property, and assets
- Copies of annual reports filed with the Secretary of State
- Federal tax returns (Forms 1120 or 1120-S)
- Payroll records and employment tax documentation
- Sales tax records and remittance documentation