et’s get right to the point…the Tax Foundation lists Wyoming in first place for “The Best State Business Tax Climate.” In 2013, perhaps as a result of that tax climate, Wyoming enjoyed a 7.6 percent growth in GDP.
The Tax Foundation’s rankings are based on an index factoring in five areas – corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, and taxes on property, including residential and commercial property.
“Trying to list Wyoming’s most important business climate attributes is sort of like trying to name the most scenic vistas in the Cowboy State. The list gets pretty long pretty quick,” says Ron Starner in an article he penned on SiteSelection.com. The article itself is called, “How Wyoming built the nation’s top-ranked business tax climate.”
Starner says, “Wyoming is a state that provides ummatched opportunity, an unparalleled ability to save capital, and an ease of doing business made possible by its small size and its pro-business philosophy.” Later in his article Starner lists other favorable accolades recently earned by Wyoming…
- Second Best Run State in the County, according to 24/7 Wall Street (Nov. 2013)
- Fourth Overall in Economic Performance (Free Enterprise, 2013)
- 12th Highest Population Growth (US Census Bureau, 2013)
- Second Best Pro-Business State (Pollina Corporate Real Estate, 2014)
- Fifth Best State to Make a Living (MoneyRates.com, 2013)
- Fourth Best Economic Outlook (American Legislative Exchange Council, 2013)
0% Individual Income Tax
0% Corporate Income Tax
4% State Sales Tax
(National Median is 5.95%)
The Wyoming Business Council was created to help businesses looking to expand or relocate within the state. Several resources are available via: www.WyomingBusiness.org.
hile economic turbulence has rocked many states in the nation, Wyoming’s leaders have been diligent in their spending and their budgeting. “In short,” says the Wyoming Business Council, “risk is reduced and taxes are less likely to rise.”
Douglas has taken advantage of many opportunities to ensure they’re rolling out the red carpet for potential businesses. The community developed a business park that provides both easy access to the community and Interstate 25.
Innovation has been brought to the downtown areas in both Douglas and Glenrock via participation in Wyoming’s Main Street program. Historic buildings long in need of upgrades are getting the attention they deserve. These Main Street programs are adding a new level of vigor to the downtown areas by encouraging business, both established and new!
Business friendly, abundant opportunities and ready to go to work are just a few of the phrases that sum up business on MOUNTAIN TIME. Schedule a visit and we’ll spend a little MOUNTAIN TIME telling you just what we’re talking about.