Self-employed taxes and LLC costs in Wyoming, 2026
Wyoming's yearly charge on an LLC is a license tax measured on assets in the state, and for a typical one-person business it never rises above the $60 minimum.
Total tax on this income in 2026
$17,800
Put aside 21% of each payment · $4,450 per quarter
| Self-employment tax (15.3%) | $12,010 |
| Federal income tax | $5,790 |
| Wyoming income tax | $0 |
| QBI deduction used | $12,579 |
| Effective rate on all income | 20.9% |
With an S corp election and a $34,000 salary, about $3,747 less tax (check it).
Computed by Radif Partners from IRS and Wyoming agency documents read on October 15, 2026 · How we calculate
Wyoming has no personal or corporate income tax, so self-employment profit is taxed only by the IRS: about $15,495 of federal income tax and self-employment tax on $75,000 for a single filer, or $3,874 per quarterly payment. An LLC costs $100 to form with the Secretary of State. Each year after, it files an annual report and pays a license tax equal to the greater of $60 or two-tenths of a mill per dollar of assets located and employed in Wyoming, so the minimum applies until those assets pass $300,000. A one-person consulting LLC therefore pays $400 over five years and $1,300 over twenty. With no state return, the S election only changes federal and payroll taxes; at $120,000 of profit and a $50,000 salary it saves about $5,305 after $2,000 of payroll costs. Wyoming's unemployment wage base is high, which adds a little to the payroll side.
Wyoming at a glance, 2026
| LLC filing fee | $100 |
| Annual Report and License Tax | $60 a year |
| Income tax | none on wages or business income |
| S corporation election | followed, with exceptions |
| Tax on $75,000 of profit (single) | $15,495 in all, $0 to Wyoming |
The Wyoming annual report doubles as a tax return for one small tax. The Secretary of State's fee schedule sets the license tax at $60 or $0.0002 per dollar of the company's assets located and employed in Wyoming, whichever is greater. A company with $1,210,000 of Wyoming assets would pay $242. A freelancer whose assets are a laptop and a bank balance pays the minimum and nothing more. Since the measure is assets rather than revenue or profit, a busy year with high billings leaves the charge unchanged, which sets it apart from the gross receipts taxes of Washington or the margin tax of Texas.
When the report is due
The report and license tax are due on or before the first day of the LLC's anniversary month, starting the year after formation. An LLC formed on March 20 files by March 1 of each later year, before its anniversary date rather than after it, which catches out owners used to other states. The business FAQ of the Secretary of State answers the common questions about filing it.
Why people outside Wyoming form LLCs here
Low fees and the absence of an income tax draw LLC owners from other states. For someone who lives and works elsewhere, the Wyoming LLC usually has to register as a foreign LLC in the home state too, paying that state's fees and taxes on top, and the profit stays taxable where the work is done. The saving is real only for people who actually live in Wyoming. The LLC cost by state page lines up both sets of fees, and South Dakota is the closest comparison on cost.
Federal tax is the whole bill
With no state income tax, a single filer with $200,000 of profit pays about $53,431 in all, of which $28,234 is self-employment tax. At that level the Social Security part stops at the $184,500 wage base, which is why the saving from an S corporation grows more slowly at high profits. The set-aside guide turns these totals into a percentage for each payment.
Payroll in an S corporation
An S corporation owner on salary pays Wyoming unemployment insurance. The Department of Workforce Services sets the taxable wage base at $33,800 for 2026, higher than in most states, and $34,900 for 2027. New employers get a rate based on their industry, so the calculator does not add it; the LLC vs S corp comparison shows the federal payroll costs, which matter far more.