Wyoming S-Corporation Election

By Edmond Hui · Facts verified July 29, 2026 against primary state sources

There is no Wyoming S-corporation election, because there is nothing to elect into: Wyoming has no corporate income tax. Your federal S election still governs your federal return, and it changes nothing at the state level here.
S corporation facts for Wyoming: the state has no corporate income tax, so there is no state S election to make. Incorporating costs $100 to file. The annual report fee is $60.
Wyoming has no corporate income tax, so there is no state S election to make; IRS Form 2553 governs the federal return only. Source: MyStateLLC 50-state S-corp election dataset, compiled from state filing offices and revenue departments, July 2026; any figure we could not confirm is labeled on the page.
State treatmentNo state election exists
Separate state formNot required
State corporate income taxNone

Does Wyoming recognize the federal S election?

State treatment of the S election

Follows the federal electionNot applicable, no corporate income tax
Separate state election formNone required

Wyoming is one of 5 states with no corporate income tax where the state S election simply does not exist. That is not the same as the state rejecting the election. There is no state income tax for it to apply to. Your federal S election is unaffected.

What an S corporation still owes Wyoming

Wyoming has no corporate or personal income tax, so there is no state-level S-corporation election, recognition, or income-tax return. A federal S election has no Wyoming income-tax consequence. Every corporation (S or C) files the same annual report and pays the same license tax (minimum $60).

Franchise or gross-receipts tax

Wyoming has no corporate income tax and no income-based franchise tax. The only recurring state charge is the annual report license tax: the greater of $60.00 or two-tenths of one mill on the dollar ($.0002) of the corporation's capital, property, and assets located and employed in Wyoming. So the minimum is $60, rising only for corporations with substantial Wyoming-situated assets (roughly assets above $300,000). Banks, insurance companies, and savings and loan associations are exempt from the license tax.

Wyoming corporation vs Wyoming LLC

State filing charges only. Corporate income tax and franchise tax are excluded because both depend on income or net worth, so no flat figure exists for either entity.

 CorporationLLC
Formation filing fee$100$100
Report cadenceEvery yearEvery year
Report fee$60$60

Both entities cost $100 to file in Wyoming, so the filing fee is not a reason to pick one over the other.

Full Wyoming LLC cost breakdown · LLC vs C-corp explained · LLC vs S-corp explained

How Wyoming compares

State treatment of the federal S electionStates
Follows the federal election, no state form needed42
No corporate income tax, so no state election exists5
Has a corporate income tax and does not follow the election. The corporation is taxed like a C corporation2
Follow the election but still impose some entity-level tax on the S corporation, California, Illinois, New York, Massachusetts and Delaware among themN/A
Require a separate state election form as well1

Compare all 50 states · LLC vs S-corp · S-corp salary and savings calculator

Frequently Asked Questions

Where these numbers come from

This page covers how Wyoming treats the federal S-corporation election and what an S corporation still owes the state. Every figure was checked against Wyoming's own published sources on July 29, 2026, the state business filing agency's fee schedule, the governing statute, and where a state tax applies, the state Department of Revenue. Commercial formation-service pages were used as leads only and are never cited. Anything the review could not confirm from an official source is left blank on this page rather than filled with an estimate.

Corporate income tax and franchise tax are quoted as the state publishes them, as rate schedules and thresholds, and are excluded from every dollar total here. They depend on income or net worth, so there is no flat figure that would be true for every corporation.

Primary sources:

  1. https://sos.wyo.gov/Business/docs/BusinessFees.pdf
  2. https://wyobiz.wyo.gov/Business/AnnualReport.aspx
  3. https://sos.wyo.gov/Business/StartABusiness.aspx
  4. https://wyoleg.gov/statutes/compress/title17.pdf
  5. Wyoming statute: W.S. 17-16-1630 (annual report and license tax)

This guide is general information, not legal or tax advice, and reading it does not create an attorney-client relationship. It describes rules that can differ from state to state, and fees, rates, forms and deadlines can change after we review them. It cannot tell you what applies to your own business: that turns on where the business is formed, where it operates and how it is taxed. Confirm anything you rely on with the state or federal agency concerned, or with a licensed attorney or CPA, before you act on it.

Related guides

S-corp election by stateAll 50 states compared in one table →S-corp salary calculatorModel the self-employment tax saving against payroll cost →LLC vs. S-CorpPass-through taxation compared →Reasonable compensationWhat an S-corp owner must pay themselves →Corporation fees by stateFiling fees, report cadence and corporate income tax →
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Edmond Hui

Edmond Hui · Founder, MyStateLLC

Edmond Hui is a software engineer and serial entrepreneur based in New York who has founded multiple online businesses across e-commerce, media, and information publishing. Before transitioning into tech, he spent years as a commercial real estate professional closing deals totaling over 100,000 square feet, giving him firsthand experience with business formation and entity structuring. He built MyStateLLC to provide the free, state-specific LLC guidance he wished existed when forming his own companies.

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