Our Dash of SALT Blog provides the most recent developments and changes in state and local tax regulations. Here are the latest updates for Wyoming.
April 8, 2025
Wyoming Increases Business Property Tax Exemption and Implements Depreciation Floor
Authored by: Bonnie Susmano, JD, MBA and Emilia Jarrin
On February 24, 2025, Wyoming Governor Gordon enacted two significant pieces of legislation. The first Bill raises the state’s “de minimis” county business property tax exemption from $2,400 to $75,000 of fair market value effective January 1, 2026. The second Bill implements a 20% residual value for tangible property – including installation costs. These changes are intended to reduce tax burdens on businesses and create more predictable property valuations.
If you have questions about state tangible personal property taxes, please reach out to a member of the Withum SALT Team.
March 27, 2024
Wyoming Removes Transaction Threshold From Economic Nexus Statute
Authored by: Bonnie Susmano, JD, MBA and Katerine Velasquez
Wyoming eliminated “200 or more separate transactions” from its economic nexus provisions for remote sellers with no physical presence in the state, effective July 1, 2024. Remote sellers will be required to register, collect, and remit sales tax to Wyoming once their gross sales into the state exceed $100,000.
If you have questions about remote sellers’ sales tax compliance, please reach out to a member of the Withum SALT Team.
October 21, 2022
Wyoming Lodging Services and Marketplace Facilitators
Authored by: Katerine Velasquez, Jensel Feliciano, and Courtney Easterday, MSA
On October 1, 2022, The Wyoming department of Revenue issued a Bulletin related to Sales and Use Tax for lodging transactions by physical hotel and transactions facilitated by Online Travel Companies known as OTCs. This update will be effective on January 1, 2023. This updated bulletin includes Wyoming authority code guides and frequently asked questions. Some relevant information on this update is as follows:
- Physical hotel will be responsible for reporting and reminting any applicable taxes in the absence of a OTC;
- Commissions paid by the physical hotel back to a travel agent will not be taxable; and
- The party that accepts the payment is responsible for reporting the applicable tax in cases where some of the lodging costs are paid to the OTCs while other costs are paid directly to the hotel.
If you have questions about the sales taxes your business is required to collect and remit, please contact a member of the Withum SALT Team.
Disclaimer: Please note this is the information that is readily available at this time, it is subject to change so please consult your Withum tax advisor.
Contact Us
The State and Local Tax (SALT) laws vary from state to state and are constantly changing. Reach out to Withum’s SALT Team for guidance on how to navigate your state’s local tax laws.
