One of the few states in America without a state income tax is Wyoming. The state does, however, charge a sales tax on a number of goods and services. Wyoming now has a 4% sales tax. All retail sales, leases, and rents of tangible personal property as well as some services are subject to this rate. However, Wyoming exempts some people and businesses from paying sales tax, just like the majority of states do.
The federal government is one of the entities free from sales tax in Wyoming. Sales made to the US government, its agencies, or instrumentalities are therefore exempt from the Wyoming sales tax. Wyoming also exempts transactions with the state’s political subdivisions and government. County, city, municipality, and school districts are all included in this. To be eligible for this exemption, nonprofit organizations must submit an application for tax-exempt status to the Wyoming Department of Revenue.
Religious organizations are another class that is free from the sales tax in Wyoming. Sales tax is not applied to purchases made for churches, synagogues, mosques, and other places of worship. However, if the organization engages in a commercial activity unrelated to its religious aims, this exemption does not apply.
Additionally, Wyoming does not charge sales tax on the sale of prescription medications and prosthetics designed to replace human organs or body parts. Sales of over-the-counter medicines and other medical supplies, however, are taxed.
Yes. There is a sales tax in Wyoming that is applied to a variety of goods and services. Wyoming now has a 4% sales tax. All retail sales, leases, and rents of tangible personal property as well as a few particular services are subject to the tax.
The Wyoming Department of Revenue requires all business owners to apply for a sales tax permit. After registering, the business owner will start to collect sales tax from every sale and send the money to the state. Depending on the owner’s monthly, quarterly, or annual sales volume, sales tax returns are necessary. Is Wyoming Subject to a Franchise Tax?
Does Wyoming Accept Certificates of Resale from Other States?
Yes. Out-of-state resale certificates are accepted by Wyoming for sales tax exemption purposes. The certificate must, however, be substantially equivalent to the Wyoming resale certificate and issued by the buyer’s home state. A legitimate Wyoming sales tax exemption number must also be supplied by the buyer to the vendor.