Sweetwater Economic Development Coalition

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Sweetwater Economic Development Coalition

10/28/2016

Wyoming Named Best Business Climate In U.S. For Fifth Year Running

Call it a dynasty.

Wyoming earned the Tax Foundation’s nod for best business climate in the United States for the fifth year in a row. The independent tax policy research organization’s annual State Business Tax Climate Index is designed to show how well states structure their tax systems.

Wyoming’s lack of a corporate or individual income tax earned it a first place nod in those categories, and the state’s low sales tax ranked No. 6 overall.

“These studies confirm what we’ve long known in Wyoming; this is a pro-business state with a low cost of doing business, direct access to the Governor and legislators and a low regulatory burden,” said Shawn Reese, CEO of the Wyoming Business Council.

Businesses are taking note. The Business Council, the state’s economic development agency, has been directly involved in key relocation and expansion victories in the past five years that show signs of diversification in the economy.

International companies from industries as varied as data centerstech firms and manufacturers are finding their way to the Cowboy State in part because of its business-friendly tax structure.

In addition to its lack of corporate and income tax, Wyoming boasts zero inventory, franchise, occupation or value-added taxes. The state also offers tax exemptions for manufacturers and data centers.

The Tax Foundation analyzes over 100 tax variables in five different tax categories to determine a state’s ranking.

To learn more about the services available to entrepreneurs in Wyoming and the advantages of doing business here, visit wyomingbusiness.org.

 

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