Wyoming Tax Advantages

Beside the great beauty of the state, and the investment potential in owning property in the Jackson Hole area, you'll be happy to know that Wyoming levies no individual income taxes. This makes the tax environment in Wyoming very competitive compared to other states. Plus, in addition to collecting no personal income taxes, Wyoming collects no corporate income taxes as well.

Much of the state's income is derived from mining and oil and gas revenue. Hence, Wyoming actually has a state budget surplus of over a billion dollars. Generally, you'll find that the state is fiscally conservative in its budgetary spending as well.

There are huge advantage of not only purchasing real estate in Wyoming, but also establishing residency here. You need not live in Wyoming year round to claim residency. (Speak with an Attorney or CPA when changing your residency.)

Here is what some others have to say about the tax climate here:

Wyoming’s 2006 Business Tax Climate Ranks 1st
Wyoming ranks 1st in the Tax Foundation's State Business Tax Climate Index. The Index compares all 50 states in five areas of taxation that impact business: corporate taxes; individual income taxes; sales and gross receipts taxes; unemployment insurance taxes; and taxes on wealth, including residential and commercial property.