How do we value a Wyoming business with no public comparables?
By weighing the income, market, and asset-based approaches against the company's own economics. Market evidence comes from private transaction databases and guideline company data rather than generalized price guides, and for asset-heavy ranching, energy services, and equipment businesses, the asset approach often carries significant weight.
My industry uses a revenue multiple. Isn't that enough to price my company?
No, professional standards restrict rules of thumb to secondary reasonableness checks, not primary evidence of value. A revenue multiple ignores margins, working capital, customer concentration, and owner dependence, all of which move real transaction prices. We use the multiple as a sanity check after the full analysis, never in place of it.
Does Wyoming impose estate tax when a business owner dies?
No, Wyoming has no state estate or inheritance tax; only the federal estate tax can apply, above the federal threshold. When a Wyoming estate holds a closely held company, the interest must still be valued at fair market value under IRS standards for the federal return and for the heirs' basis records.
What fraction of a Wyoming business's property value actually gets taxed?
Only a slice. Wyoming values business personal property at full fair market value as of January 1, but taxable value is 9.5% of that figure for most property, or 11.5% for industrial-use property, before county mill levies apply. The low assessment ratio keeps bills modest, yet the starting point is still a defensible fair market value, which is where appraisal quality shows.