WYOMING RESIDENCY TAX BENEFITS
There are many reasons why people choose to make Jackson Hole their primary residence. Some of those reasons include the quality of life, surreal beauty, and luxurious amenities available in Jackson Hole. Other reasons are more practical and include Wyoming’s tax benefits. Bloomberg continues to rate Wyoming as the most tax-friendly state in the United States.
1. No state income tax
No state income means that you have more disposable income.
2. Dynasty trusts
You can shield your real estate from federal estate taxes in Wyoming for up to 1000 years through a dynasty trust which means multiple generations can use and enjoy the property without having to pay estate taxes or having to sell the property in order to pay the taxes.
3. No inheritance tax or estate tax
Wyoming repealed its estate tax as of January 1, 2005.
4. No state gift tax
You can “gift” property in Wyoming to your heirs without having to worry about paying a state gift tax.
5. No tax on out-of-state retirement income
Wyoming does not tax retirement income that is earned outside of Wyoming.
6. Low property taxes
Wyoming has very low property taxes compared to other states, and taxes are based on the assessed value of the property.
7. No excise taxes
You won’t pay state tax when you fill up your car or buy groceries in Wyoming.
8. No tax on mineral ownership
Wyoming does not charge owners a tax on their mineral ownership.
9. No intangible taxes
You do not have to pay a tax on financial assets like stocks and bonds in Wyoming.
10. No tax on the sale of real estate
1100 Woodside Drive
Jackson, WY 83001
Price: Available upon request
Type: Single Family Home
Square Feet: 13,000
Bedrooms: 8 plus one-bedroom caretaker’s quarters
Bathrooms: 11 (9 full/2 half)
Year Built: 1992
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