Wyoming Paycheck Calculator
Calculate your take-home pay after federal & Wyoming taxes
Updated for 2024 tax year on Feb 14, 2024
Paycheck calculators by state
Paycheck calculator for Wyoming
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).
- 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 Federal paycheck calculator:
- 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
- Annual salary
- Work out your total federal income tax
- Gross income adjusted
Gross income − Pre-tax deductions = Gross income adjusted
- Federal taxable income
Gross income adjusted − Federal standard/itemized deductions = Federal taxable income
- Federal income tax liability
Federal taxable income × Federal income tax rate = Federal income tax liability
- Federal payroll tax liability
Gross income adjusted × Federal payroll tax rate = Federal payroll tax liability
- Gross income adjusted
- Figure out your net pay
Gross income − (Total income tax liability + Total payroll tax liability + Total pre-tax deductions + Total post-tax deductions + Total withholdings) = Your net pay
- Divide your net pay by your pay frequency
Your net pay / Days worked per week / Weeks worked per year = Your daily paycheck
Your net pay / 52 = Your weekly paycheck
Your net pay / 26 = Your bi-weekly paycheck
Your net pay / 24 = Your semi-monthly paycheck
Your net pay / 12 = Your monthly paycheck
Your net pay / 4 = Your quarterly paycheck
Your net pay / 2 = Your semi-annual paycheck
Your net pay = Your annual paycheck
State payroll tax
There is no state-level payroll tax.
State income tax brackets
There is no need to pay any state-level income tax.
State standard deduction
Since there is no income tax, there is no standard deduction.
Since there is no income tax, there are no exemptions.
What taxes do Wyomingites pay?
Residents of Wyoming only need to pay federal income taxes. There are no state-level income taxes.
How much do you make after taxes in Wyoming?
A single filer with an annual wage of $61,000 will take home $50,653.
For a married couple with a combined income of $122,000, their take-home pay will be $101,306 after taxes.
How much taxes are deducted from a $61,000 paycheck in Wyoming?
The total taxes deducted for a single filer are $862.26 monthly or $397.96 bi-weekly.