Entering your monthly or annual income together with the necessary federal, state, and local W4 information in this calculator will allow you to use our free paycheck calculator to determine your net pay or take-home pay in Wyoming. Wyoming charges no state income tax or local income tax.
Wyoming, also known as the Cowboy State, is the 10th largest by area located in the mountain region of the Western United States. The state is the second most sparsely populated state and the least populous among the 50 states of the country.
The Cowboy State shares its borders with South Dakota & Nebraska on the east, Montana on the north, Colorado on the south, Idaho & Montana on the west, and Utah on the southwest. Moreover, Cheyenne is the state's capital as well the largest state, while Cheyenne Metro Area is the state's largest metro.
Wyoming State is known as an excellent place for job seekers, retirees, and outdoor enthusiasts as it offers a reasonable cost of living, boundless natural beauty, low taxes, and a lot more. So if you have got a fantastic job offers, a business idea, or wish to retire in the best place like Wyoming, then this guide is just for you. Our guide covers the following topics:
We hope these mentioned topics would help you make your life-changing decision. So let's get started!
Living in Wyoming is going to cost you almost similar to most of the other states, as its cost of living index is 98.1 points, which is slightly lower than the nationwide cost of living index of 100 points. Grocery, housing, and utilities are closer to the national average cost, while transportation cost is significantly cheaper here. Unfortunately, health-related costs are way too high in Wyoming.
Whether you are planning to rent or buy a house in Wyoming, it would be in your budget, as the median home value of WY is $229,200, which is slightly lower than the nationwide median value of $231,200. Moreover, the median rental expense in the state for a single bedroom is $614, and for a double bedroom is $789.
Additionally, if you are looking for even cheaper housing than the prices mentioned above, than you can prefer cities like Worland, Saratoga, Lyman, or Marbleton.
There is good new for your kids! Wyoming has the seventh-best school system and the fourth-highest public-school spending among the 50 states in America. Moreover, the Cowboy State is also home to one major four-year university, the University of Wyoming. Hence, giving the firm hope to secure the bright future of your kids. On the other hand, if your kid wants to study out of the state, they can enjoy a discount in specific colleges and universities in 14 states under the Western Undergraduate Exchange (WUE) Program.
Some of the highly rated schools, colleges, and universities include the University of Wyoming (Laramie), Central Wyoming College (Riverton), Teton County School District No. 1 (Jackson), and Sheridan County School District No. 2 (Sheridan).
As Wyoming is a landlocked state and is located in the mountain region of the Western United States, it has a semi-arid and continental, which is drier, windier, and with greater temperature extremes than the rest of the states. Fortunately, the state is ranked among the least prone state to natural disasters in the nation.
Whether you are planning to bring your existing career with you or start with a new one in Wyoming, here are some of the job and business-related facts you need to know.
The unemployment rate in WY is 3.9%, and the minimum wage rate is similar to the federal minimum wage rate of $7.25/hour. Some of the fastest-growing jobs in the state include a registered nurse practitioner, front desk clerk, personal care assistant, and assistant manager. While some of the highest paying jobs here are nurse anesthetist, dentist, and optometrist.
Wyoming is currently ranked on number 42 for the overall economy by US News & World Report, where for the business environment and economic growth, it is listed on # 41. It may not be too appealing to businessmen and entrepreneurs. However, they have still got a chance to try their luck in top industries like Mining and Extraction, Tourism, Agriculture, and Manufacturing.
Due to the beautiful landscape and endless fun activities & attractions, Wyoming is one of the highly visited states in America. You can explore the stunning natural attractions and rich western US history by visiting Yellowstone National Park, Grand Teton National Park, Grand Prismatic Spring, Buffalo Bill Center, and Jackson Hole Mountain Resort.
Moreover, the state also has famous national parks with legendary landscapes, including Fossil Butte National Monument, Mount Washburn, and Fort Laramie National Historic Site. Additionally, The cowboy state has plenty of museums, obscure & atypical destinations, as well as places for delicious foods and drinks.
As we are done with all the factors about the Wyoming State, now, let's have a quick look at all the positives and negatives about the State:
As we are done with relocation to Wyoming and its payroll facts, now it's time to calculate paycheck.
The very first step to calculating the paycheck amount is to determine Gross Pay. It is a wage that an employee earned in the last pay period.
Gross Pay is calculated differently for both hourly and salary-based employees, which is discussed in detail as follow:
Hourly Employees are paid at a mutually agreed pay rate for each hour they work in a pay period. Usually, Pay periods for Hourly employees are Hourly, Daily, Weekly, and Bi-Weekly. However, the Federal, State, and Local Wage law requires the employers to set the pay rate equals to or more than the defined Minimum Wage Law for the non-exempted employees.
Hourly employees are also entitled to receive overtime, for each excess hour worked after regular hours in a workday or a workweek. Remember, like Minimum wage, the employers are also required to follow Overtime wage law provided by the federal, state, and local authorities.
To calculate gross wage for an hourly employee:
Salaried Employees are paid at the flat amount rather than on an hourly basis. The amount is usually mutually agreed as an Annual Salary, which is then paid in Semi-monthly or Monthly Pay periods.
Salaried employees are mostly exempted from overtime law. However, their salaries must be according to Federal and State Minimum Wage law.
To calculate Gross Pay for Salaried Employees:
Don't forget that Supplemental Wages like Bonuses, commissions, tips, paid leaves, fringe benefits, or other taxable wages earned by the employee must be added into the Gross wages.
Once you are done with Gross Wages, it's time to subtract any Pre-Tax deductions from the gross wage to get taxable wages as Pre-tax deductions are not taxable for federal payroll taxes.
Pre-tax deductions are offered to the employees as benefits like fringe benefits, HSA plans, etc., to reduce their taxable income, hence, increasing their take-home pay amount. Remember, not all benefits are exempted from taxes, so choose the pre-tax deductions wisely.
Some of the common pre-tax deductible benefits are:
Many Taxpayers find it hard to itemize their deductions to calculate taxable wages, for which they go for standard deductions, that varies according to the filing status, as shown in the table below:
Filing Status | Standard Deduction Amount |
---|---|
Single Filers | $12,200 |
Married, Filing Jointly | $24,400 |
Married, Filing Separately | $12,200 |
Head of Household | $18,350 |
Once you have determined the taxable wages, it's time to deduct Federal Income taxes for the taxable wages.
IRS requires the employers to withhold federal income tax from the employee's paycheck, according to the details provided by the employee on Form W-4. The employee fills this form at the start of the job. The form includes all the necessary information, including income, number of allowances to claim, number of dependents, amount of additional taxes to deduct, and much more.
The employees are required to keep their Form W-4 up to date with all their current information, especially marriage, divorce, or child's birth.
The federal income tax is charged according to the tax brackets in which the taxpayer's income falls. The latest income tax brackets and rates are as follow:
Taxable Income | Rate |
---|---|
$0 - $9,700 | 10% |
$9,700 - $39,475 | 12% |
$39,475 - $84,200 | 22% |
$84,200 - $160,725 | 24% |
$160,725 - $204,100 | 32% |
$204,100 - $510,300 | 35% |
$510,300+ | 37% |
Taxable Income | Rate |
---|---|
$0 - $19,400 | 10% |
$19,400 - $78,950 | 12% |
$78,950 - $168,400 | 22% |
$168,400 - $321,450 | 24% |
$321,450 - $408,200 | 32% |
$408,200 - $612,350 | 35% |
$612,350+ | 37% |
Taxable Income | Rate |
---|---|
$0 - $9,700 | 10% |
$9,700 - $39,475 | 12% |
$39,475 - $84,200 | 22% |
$84,200 - $160,725 | 24% |
$160,725 - $204,100 | 32% |
$204,100 - $306,175 | 35% |
$306,175+ | 37% |
Taxable Income | Rate |
---|---|
$0 - $13,850 | 10% |
$13,850 - $52,850 | 12% |
$52,850 - $84,200 | 22% |
$84,200 - $160,700 | 24% |
$160,700 - $204,100 | 32% |
$204,100 - $510,300 | 35% |
$510,300+ | 37% |
Besides, Federal Income Tax, the IRS also requires the employer to withhold FICA tax (15.3%) for the employee's paycheck and also requires the employer to pay an equal amount for each employee.
Federal Insurance Contributions Act (FICA) Taxes comprises of two types of taxes which are as follow:
A total of 12.4% of social security tax is charged from which 6.2% is withheld from the employee's gross, and the employer pays the matching 6.2%. However, Social Security is only charged on the maximum taxable earnings of $137,700 for 2025.
A total of 2.9% of Medicare is charged, from which 1.45% is withheld from the employee's gross, and the employer pays the matching 1.45%. Unlike Social Security, there is no maximum table earning limit for this tax. However, an additional surtax of 0.9% is charged as Additional Medicare Surtax on the employees having income over the specified level along with filing status, which is as follow:
Income Over | Filing Status |
---|---|
$250,000 | Married Filing Jointly |
$125,000 | Married Filing Separately |
$200,000 | Single |
IRS requires the employer to pay another tax, known as The Federal Unemployment Tax Act (FUTA) Tax. This tax is paid at the rate of 6% on the first $7000 earned by each employee in a year. However, the IRS doesn't require the employees to contribute to it.
The employers who pay State Unemployment Insurance (SUI) tax in full and on time are given relieving FUTA tax credit of up to 5.4%, which saves a whopping 90% from FUTA Tax.
Post-tax deductions (after-tax deductions) is an amount the employer takes out from the employee's paycheck after taxes. Therefore, it does not affect taxable wages and the amount of tax payable.
Here are some of the types of post-tax deductions that employee may voluntarily choose:
As you are done with Federal Payroll Taxes, now it's time to discuss State Payroll Taxes. The Wyoming State doesn't charge State Income Tax on employees. However, State Unemployment Insurance (SUI) Tax is charged on the employers.
The State Unemployment Insurance (SUI) Tax is an employer-funded program that provides temporary income to unemployed workers who have lost their job without fault of their own.
The state doesn't charge in Wyoming State Disability Insurance (SDI) tax on employers. However, it does require the employers to pay Wyoming State Unemployment Insurance (SUI) tax, at the rate ranging from 0.18% to 8.72% on a first $26,400 earned in wages by each employee in a year. However, new employers are given relief as they have to pay at a flat rate of 1.22%.
No city or county in Wyoming levies Local Income Tax.
Now that you are done with all payroll taxes and calculated the net take-home pay of an employee, it's time to cut the paycheck. Moreover, you, as an employer, must pay your portion of FICA tax along with FUTA and SUI tax in full and on time regularly.
Answer: Following are the taxes deducted from a paycheck in Wyoming WY:
Answer: Fortunately, Wyoming State doesn't levy a state income tax.
Answer: The average salary in Wyoming for a Male is $64,752, and for a female is $43,078, according to datausa.io.
Answer: Following is the list of taxes and their rates paid by employers and employees in Wyoming: