Wyoming Late Fee Calculator
Based on Wyo. Stat. §40-14-106 (legal rate of interest); §1-16-102
QuickBillMaker applies late fees automatically based on your configured policy. Set it once and stop chasing payments by hand.
How Wyoming late fees work
In Wyoming, late payment fees on commercial invoices are governed by Wyo. Stat. §40-14-106 (legal rate of interest); §1-16-102. The legal maximum is 1.5% per month (18% annualized). Legal rate 7% per year; written contracts may set higher rates. Commercial loans have no statutory cap.
The fee must be stated in a written agreement before the work is performed. Without a written rate, only the statutory default rate applies.
Wyoming prompt-pay law
Wyoming Prompt Payment Act (Wyo. Stat. §16-6-602 for public; §16-6-602 for construction) Public: 45 days for payment. Construction subs paid within 30 days of GC receiving payment.
Stop calculating late fees by hand
QuickBillMaker applies your Wyoming late fee rate automatically when invoices go overdue.
Automate late fees free