Tax Benefits of Doing Business in Wyoming

One more reason to add to your list of why Wyoming is an amazing state to live and do business in: the tax benefits. Wyoming has some of the lowest tax rates of any state in the country. With no income tax for corporations or individuals and low sales, property and employment tax rates, Wyoming comes in first place for a tax climate that favors both businesses and individuals. But it doesn’t stop with low tax rates; Wyoming has other enticing offers for businesses that have prompted many business owners and entrepreneurs to consider relocating.

Tax Benefits of Doing Business in Wyoming

Business Relocation Assistance
The Wyoming Business Council is dedicated to helping businesses thrive and provides a range of services and assistance to businesses that relocate to Wyoming. Some of the services include:

•    The Community Development Block Program: Local Wyoming governments provide loans for job creation and new projects that benefit low and moderate income families through this federal grant. 
•    Human Resources Consulting: Whether you’re just starting out or have been in business for years, the business council can help to reduce turnover and thereby increase productivity and profit, allowing your company to grow, by providing the resources and connections to improve your HR Department. 
•    Trade Show Incentive Grant Program: Your business can receive assistance in financing the cost of attending trade shows, forums which benefit your business and promote Wyoming’s business climate.
•    Wyoming First Program: The business council provides support with promoting businesses that sell products made in Wyoming.
•    Workforce Training Grants and Programs: Grants are available for up to $4,000 per trainee for you to train newly hired or current employees. Programs are also available through the Wyoming Business Council in partnership with other organizations to deliver training for your workforce and supervisors or leaders. 

New Business Assistance

Wyoming is also a great place to start a new business and a wealth of resources are available across the state to help entrepreneurs get started on the right foot. The University of Wyoming’s program Wyoming Entrepreneur, with offices throughout the state, provides assistance to entrepreneurs through three programs: the Small Business Development Center, the Procurement Technical Assistance Center and the Market Research Center. Wyoming Entrepreneur offers a variety of consultation services including: 
•    Business planning consultation and free business plan review
•    Tax and accounting consultation
•    Commercial loan assistance
•    Buying and selling a small business valuation services
•    Information and guidance for finding funding sources
•    Marketing consultation

See what commercial opportunities are currently for sale or for lease in Teton County, Wyoming.

Let me know if you have relocation and/or business questions, or if you would like to know what's available in other Wyoming counties.