Wyoming Paycheck Calculator

Calculate your take-home pay per paycheck for salary and hourly jobs after federal & Wyoming taxes

Updated for 2024 tax year on Jul 06, 2024

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How to calculate your Wyoming paycheck

Overview of Wyoming

Wyoming has a population of under 1 million (2019) and is the least populous state in the United States. The main drivers of Wyoming’s economy are tourism and the extraction of minerals. The median household income is $60,434 (2017).

Brief summary:

• no state-level income tax
• no state-level payroll tax
• no standard deductions and exemptions

Understanding your Wyoming paycheck

The Cowboy State, known for its breathtaking landscapes and wildlife, also harbors a secret that can make your wallet sing. Being one of the most tax-friendly states, you can earn more money in Wyoming.

Just like in any other state, your paycheck starts with federal income taxes and FICA taxes. FICA taxes, which fund Social Security and Medicare, are mandatory withholdings for all U.S. workers. While these federal obligations are inescapable, Wyoming has a few tricks that make the state a financial paradise for many.

High-income earners and self-employed individuals have slightly different FICA tax experiences. There is an additional 0.9% Medicare tax for those with an annual income exceeding $200,000. Meanwhile, self-employed folks are responsible for the employer and employee portions of FICA taxes.

Ensuring the correct federal income tax withholdings begins with completing Form W-4, which considers factors such as pay frequency. Whether you’re paid weekly, bi-weekly, or monthly, your pay frequency directly impacts your federal income tax withholding and the amount you take home in each paycheck.

In Wyoming, your marital status and pre-tax deductions significantly influence your paycheck. Married individuals often benefit from lower tax rates. To reduce your taxable income, consider using pre-tax deductions, like 401(k)) contributions.

Here’s where Wyoming truly shines – the state has no income or payroll tax! This tax haven allows residents to keep more earnings, making Wyoming a magnet for retirees, entrepreneurs, and high-income earners. The state’s commitment to low taxation also extends to property and sales taxes, among the lowest in the nation.

While there’s no state standard deduction or personal exemptions in Wyoming, this isn’t a concern for residents due to the lack of state income tax. It’s one more reason why the Cowboy State is a dream come true for those seeking tax relief.

Post-tax deductions are taken from your paycheck after all taxes have been withheld. Some examples are wage garnishments, child support payments, and charitable contributions. Although these deductions don’t affect your taxable income, they can help manage your financial obligations and support the causes you’re passionate about.

Calculate your Wyoming paycheck

Calculating your Wyoming state income tax is different from the steps we listed on our main paycheck calculator page:

1. Determine your gross income
   • Annual salary
     Annual salary = Gross income
   • Hourly wage
     Hourly wage × Hours worked per day × Days worked per week × Weeks worked per year = Your weekly paycheck
2. Work out your total federal income tax
   1. Gross income adjusted
      Gross income − Pre-tax deductions = Gross income adjusted
   2. Federal taxable income
      Gross income adjusted − Federal standard/itemized deductions = Federal taxable income
   3. Federal income tax liability
      Federal taxable income × Federal income tax rate = Federal income tax liability
   4. Federal payroll tax liability
      Gross income adjusted × Federal payroll tax rate = Federal payroll tax liability
3. Figure out your net pay
   You need to account for any other deductions such as health insurance, 401(k) contribution, as well as additional withholdings.
   Gross income − (Total income tax liability + Total payroll tax liability + Total pre-tax deductions + Total post-tax deductions + Total withholdings) = Your net pay
4. Divide your net pay by your pay frequency
   
   • Daily
     Your net pay / Days worked per week / Weeks worked per year = Your daily paycheck
   • Weekly
     Your net pay / 52 = Your weekly paycheck
   • Bi-weekly
     Your net pay / 26 = Your bi-weekly paycheck
   • Semi-monthly
     Your net pay / 24 = Your semi-monthly paycheck
   • Monthly
     Your net pay / 12 = Your monthly paycheck
   • Quarterly
     Your net pay / 4 = Your quarterly paycheck
   • Semi-annual
     Your net pay / 2 = Your semi-annual paycheck
   • Annual
     Your net pay = Your annual paycheck

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