Montana and Wyoming rank in top 10 for taxes - KULR8.com | News, Weather & Sports in Billings, Montana

Montana and Wyoming rank in top 10 for taxes

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For the last 13 years the Tax Foundation has crunched the numbers to give states a simple way to compare how their tax structure measures up against each other.

The report measures how well-structured each state's tax code is.

They do this by analyzing more than 100 variables in five tax categories: corporate, individual income, sales, property, and unemployment insurance.

According to the numbers released Wednesday, Wyoming ranks as having the most favorable tax code in the nation.

Montana ranks near the top at number 6.

Wyoming is boosted because the state does not levy corporate or individual income tax.

Montana ranks near the top in part due to the lack of a state sales tax.

Montana is number 13 when considering corporate taxes. Wyoming in number 1.

As for individual income tax Montana is 21 and Wyoming again takes the top spot.

In sales tax, Montana beats out Wyoming ranking number 3 while Wyoming is number 6.

The Unemployment insurance tax ranking lists Montana at 19 and Wyoming at 31.

And, as far as property taxes go... the treasure state finishes far ahead of the cowboy state with Montana ranking number 9 and Wyoming is 38

You can take a much closer look at the report and how Montana and Wyoming stack up against the rest of the nation online. Just click here.

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