diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3daffcc6b..14f671fb7 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,12 @@
 # All notable changes to this project will be documented in this file.
 # This project adheres to [Semantic Versioning](http://semver.org/).
 
+## (0.40.3) UNRELEASED
+### Changes
+- Remove dependency on importlib-metadata
+- Remove dependency on tomli when using >= py311
+
+
 ## [0.40.2] 2023-09-22
 ### Changes
 - The verification module has been removed. NOTE: this changes the public APIs
diff --git a/HACKING.md b/HACKING.md
index 336b234bd..1c03e8008 100644
--- a/HACKING.md
+++ b/HACKING.md
@@ -3,13 +3,13 @@
 - To run YAPF on all of YAPF:
 
 ```bash
-$ PYTHONPATH=$PWD/yapf python -m yapf -i -r .
+$ pipx run --spec=${PWD} --no-cache yapf -m -i -r yapf/ yapftests/ third_party/
 ```
 
 - To run YAPF on just the files changed in the current git branch:
 
 ```bash
-$ PYTHONPATH=$PWD/yapf python -m yapf -i $(git diff --name-only @{upstream})
+$ pipx run --spec=${PWD} --no-cache yapf -m -i $(git diff --name-only @{upstream})
 ```
 
 ## Testing and building redistributables locally
@@ -45,7 +45,7 @@ $ pipx run --spec='tox<4' tox -e bdist_wheel -e sdist
     $ pipx run --spec='tox<4' tox
     ```
 
-1. Bump version in `pyproject.toml`.
+1. Bump version in `yapf/_version.py`.
 
 1. Build and test redistributables
 
diff --git a/pyproject.toml b/pyproject.toml
index 04519ae24..0b4bde36c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -7,10 +7,10 @@ name = "yapf"
 description = "A formatter for Python code"
 authors = [{ name = "Google Inc." }]
 maintainers = [{ name = "Bill Wendling", email = "morbo@google.com" }]
+dynamic = ["version"]
 license = { file = "LICENSE" }
 readme = "README.md"
 requires-python = ">=3.7"
-version = "0.40.2"
 classifiers = [
     'Development Status :: 4 - Beta',
     'Environment :: Console',
@@ -27,11 +27,7 @@ classifiers = [
     'Topic :: Software Development :: Libraries :: Python Modules',
     'Topic :: Software Development :: Quality Assurance',
 ]
-dependencies = [
-    'importlib-metadata>=6.6.0',
-    'platformdirs>=3.5.1',
-    'tomli>=2.0.1',
-]
+dependencies = ['platformdirs>=3.5.1', 'tomli>=2.0.1; python_version<"3.11"']
 
 [project.scripts]
 yapf = "yapf:run_main"
@@ -51,6 +47,9 @@ python_tag = "py3"
 include-package-data = true
 package-dir = { yapf_third_party = 'third_party/yapf_third_party' }
 
+[tool.setuptools.dynamic]
+version = { attr = "yapf._version.__version__" }
+
 [tool.setuptools.packages.find]
 where = [".", 'third_party']
 include = ["yapf*", 'yapftests*']
diff --git a/third_party/yapf_third_party/_ylib2to3/pgen2/driver.py b/third_party/yapf_third_party/_ylib2to3/pgen2/driver.py
index 9345fe5aa..76b31a11c 100644
--- a/third_party/yapf_third_party/_ylib2to3/pgen2/driver.py
+++ b/third_party/yapf_third_party/_ylib2to3/pgen2/driver.py
@@ -20,20 +20,19 @@
 import pkgutil
 import sys
 # Python imports
-from configparser import ConfigParser
 from contextlib import contextmanager
 from dataclasses import dataclass
 from dataclasses import field
 from pathlib import Path
-from pkgutil import get_data
 from typing import Any
 from typing import Iterator
 from typing import List
 from typing import Optional
 
-from importlib_metadata import metadata
 from platformdirs import user_cache_dir
 
+from yapf._version import __version__ as yapf_version
+
 # Pgen imports
 from . import grammar
 from . import parse
@@ -207,10 +206,7 @@ def _generate_pickle_name(gt):
   if tail == '.txt':
     tail = ''
   cache_dir = user_cache_dir(
-      appname=metadata('yapf')['Name'].upper(),
-      appauthor=metadata('yapf')['Author'].split(' ')[0],
-      version=metadata('yapf')['Version'],
-  )
+      appname='YAPF', appauthor='Google', version=yapf_version)
   return cache_dir + os.sep + head + tail + '-py' + '.'.join(
       map(str, sys.version_info)) + '.pickle'
 
diff --git a/yapf/__init__.py b/yapf/__init__.py
index ebbc75862..cf4be9379 100644
--- a/yapf/__init__.py
+++ b/yapf/__init__.py
@@ -33,15 +33,12 @@
 import os
 import sys
 
-from importlib_metadata import metadata
-
+from yapf._version import __version__
 from yapf.yapflib import errors
 from yapf.yapflib import file_resources
 from yapf.yapflib import style
 from yapf.yapflib import yapf_api
 
-__version__ = metadata('yapf')['Version']
-
 
 def _raw_input():
   wrapper = io.TextIOWrapper(sys.stdin.buffer, encoding='utf-8')
diff --git a/yapf/_version.py b/yapf/_version.py
new file mode 100644
index 000000000..ccd8b38ef
--- /dev/null
+++ b/yapf/_version.py
@@ -0,0 +1 @@
+__version__ = '0.42.0'
diff --git a/yapf/yapflib/file_resources.py b/yapf/yapflib/file_resources.py
index 977a2568f..66ab707ac 100644
--- a/yapf/yapflib/file_resources.py
+++ b/yapf/yapflib/file_resources.py
@@ -28,6 +28,11 @@
 from yapf.yapflib import errors
 from yapf.yapflib import style
 
+if sys.version_info >= (3, 11):
+  import tomllib
+else:
+  import tomli as tomllib
+
 CR = '\r'
 LF = '\n'
 CRLF = '\r\n'
@@ -51,12 +56,6 @@ def _GetExcludePatternsFromYapfIgnore(filename):
 def _GetExcludePatternsFromPyprojectToml(filename):
   """Get a list of file patterns to ignore from pyproject.toml."""
   ignore_patterns = []
-  try:
-    import tomli as tomllib
-  except ImportError:
-    raise errors.YapfError(
-        'tomli package is needed for using pyproject.toml as a '
-        'configuration file')
 
   if os.path.isfile(filename) and os.access(filename, os.R_OK):
     with open(filename, 'rb') as fd:
@@ -136,13 +135,6 @@ def GetDefaultStyleForDir(dirname, default_style=style.DEFAULT_STYLE):
       pass  # It's okay if it's not there.
     else:
       with fd:
-        try:
-          import tomli as tomllib
-        except ImportError:
-          raise errors.YapfError(
-              'tomli package is needed for using pyproject.toml as a '
-              'configuration file')
-
         pyproject_toml = tomllib.load(fd)
         style_dict = pyproject_toml.get('tool', {}).get('yapf', None)
         if style_dict is not None:
diff --git a/yapf/yapflib/style.py b/yapf/yapflib/style.py
index 72f277b25..b43437ee0 100644
--- a/yapf/yapflib/style.py
+++ b/yapf/yapflib/style.py
@@ -15,11 +15,17 @@
 
 import os
 import re
+import sys
 import textwrap
 from configparser import ConfigParser
 
 from yapf.yapflib import errors
 
+if sys.version_info >= (3, 11):
+  import tomllib
+else:
+  import tomli as tomllib
+
 
 class StyleConfigError(errors.YapfError):
   """Raised when there's a problem reading the style configuration."""
@@ -791,13 +797,6 @@ def _CreateConfigParserFromConfigFile(config_filename):
   config = ConfigParser()
 
   if config_filename.endswith(PYPROJECT_TOML):
-    try:
-      import tomli as tomllib
-    except ImportError:
-      raise errors.YapfError(
-          'tomli package is needed for using pyproject.toml as a '
-          'configuration file')
-
     with open(config_filename, 'rb') as style_file:
       pyproject_toml = tomllib.load(style_file)
       style_dict = pyproject_toml.get('tool', {}).get('yapf', None)
diff --git a/yapftests/file_resources_test.py b/yapftests/file_resources_test.py
index c55333f9d..e71742c6a 100644
--- a/yapftests/file_resources_test.py
+++ b/yapftests/file_resources_test.py
@@ -76,10 +76,6 @@ def test_get_exclude_file_patterns_from_yapfignore_with_wrong_syntax(self):
       file_resources.GetExcludePatternsForDir(self.test_tmpdir)
 
   def test_get_exclude_file_patterns_from_pyproject(self):
-    try:
-      import tomli
-    except ImportError:
-      return
     local_ignore_file = os.path.join(self.test_tmpdir, 'pyproject.toml')
     ignore_patterns = ['temp/**/*.py', 'temp2/*.py']
     with open(local_ignore_file, 'w') as f:
@@ -93,10 +89,6 @@ def test_get_exclude_file_patterns_from_pyproject(self):
         sorted(ignore_patterns))
 
   def test_get_exclude_file_patterns_from_pyproject_no_ignore_section(self):
-    try:
-      import tomli
-    except ImportError:
-      return
     local_ignore_file = os.path.join(self.test_tmpdir, 'pyproject.toml')
     ignore_patterns = []
     open(local_ignore_file, 'w').close()
@@ -106,10 +98,6 @@ def test_get_exclude_file_patterns_from_pyproject_no_ignore_section(self):
         sorted(ignore_patterns))
 
   def test_get_exclude_file_patterns_from_pyproject_ignore_section_empty(self):
-    try:
-      import tomli
-    except ImportError:
-      return
     local_ignore_file = os.path.join(self.test_tmpdir, 'pyproject.toml')
     ignore_patterns = []
     with open(local_ignore_file, 'w') as f:
@@ -175,12 +163,6 @@ def test_setup_config(self):
                      file_resources.GetDefaultStyleForDir(test_dir))
 
   def test_pyproject_toml(self):
-    # An empty pyproject.toml file should not be used
-    try:
-      import tomli
-    except ImportError:
-      return
-
     pyproject_toml = os.path.join(self.test_tmpdir, 'pyproject.toml')
     open(pyproject_toml, 'w').close()
 
diff --git a/yapftests/style_test.py b/yapftests/style_test.py
index 10c62edc6..64e64a5be 100644
--- a/yapftests/style_test.py
+++ b/yapftests/style_test.py
@@ -229,11 +229,6 @@ def testErrorUnknownStyleOption(self):
         style.CreateStyleFromConfig(filepath)
 
   def testPyprojectTomlNoYapfSection(self):
-    try:
-      import tomli  # noqa: F401
-    except ImportError:
-      return
-
     filepath = os.path.join(self.test_tmpdir, 'pyproject.toml')
     _ = open(filepath, 'w')
     with self.assertRaisesRegex(style.StyleConfigError,
@@ -241,10 +236,6 @@ def testPyprojectTomlNoYapfSection(self):
       style.CreateStyleFromConfig(filepath)
 
   def testPyprojectTomlParseYapfSection(self):
-    try:
-      import tomli  # noqa: F401
-    except ImportError:
-      return
 
     cfg = textwrap.dedent("""\
         [tool.yapf]