Wyoming and the R&D Tax Credit

Wyoming does not offer a state-specific Research and Development (R&D) tax credit, meaning businesses operating within the state cannot claim a credit against state taxes for qualifying R&D activities. However, Wyoming is home to several key industries, including energy (particularly coal, oil, and natural gas), agriculture, tourism, and mining, all of which often engage in innovative practices and technological advancements. Despite the lack of a state R&D credit, businesses in these industries may still be eligible to claim the federal R&D tax credit, which provides a significant incentive for companies investing in research and development. The federal credit can help offset costs related to developing new products, processes, or technologies, making it a valuable resource for Wyoming-based businesses driving innovation in their respective fields.