Wyoming’s Business Climate has been ranked number one for the fifth consecutive year, according to a Tax Foundations State Business Tax Climate Index study. The study measures the best business climates in America by reviewing regulations and state taxes that businesses are subjected to. Wyoming’s number one ranking is largely due to the states low sales tax, and the fact that there is no corporate or individual income tax in the state. Businesses also take advantage of the fact that Wyoming does not levy inventory, franchise, occupation or value added taxes. Because of the small amount of business regulations and the tax structure the states economy has grown and diversified over the last five years with international companies form many different industries moving to the state.