Why Wyoming

Tax Benefits Are Attracting Buyers from around the Country

Wyoming has long been renowned for its stunning beauty. From the regal Grand Tetons to the wonders of Yellowstone National Park, to the magnificence of the Big Horn Mountains, the state’s natural grandeur and biodiversity are second to none. That rugged charm has attracted homebuyers of every variety and from around the world.

There are plenty of reasons to own a home in Wyoming: two national parks, three ski resorts, twenty-five historic landmarks, countless art galleries and restaurants, unique Western heritage and some of the most philanthropic communities in the country.

Today, discerning buyers, investors and businesses are finding another reason to call Wyoming home, and it’s one that affects their pocketbooks.

Wyoming’s tax code is among the most beneficial in the country. A study this year by the Tax Foundation ranked Wyoming as the most tax-friendly state in the nation, as have reports from MoneyRates.com and Bloomberg Wealth Management. Last year Kiplinger awarded the Equality State the second-best tax destination for retirees, behind only Alaska.

It’s not hard to see why Wyoming consistently scores at the top of the country. There is no individual or corporate state income tax, no state capital gains tax, no tax on trust income, no state gift tax, no estate or inheritance tax, and no intangible tax. The state sales tax is tied for the eighth lowest in the nation, and property taxes as a percentage of home value are the seventh lowest.

Wyoming also boasts strong privacy and trust-friendly laws. Here, individuals and families can shield real estate from federal estate taxes for up to 1,000 years through dynasty trusts, which can be established to benefit family members or other beneficiaries.

Wyoming is one only a few states that permits single family private family trust companies (PFTCs) to act as trustee for a trust or group of trusts. This structure creates privacy and facilitates family involvement in the decision-making process, allows for control over the investment asset mix, trustee succession and, importantly, is a tool by which the younger generation can be educated about valued family assets.

To learn more about Wyoming’s tax codes, contact our dedicated team. Our agents are knowledgeable about the protections and benefits available and can help you maximize your value.

No state income tax

No excise tax

No tax on out-of-state retirement income

No state gift tax

No inheritance or estate tax

Low property taxes

No tax on mineral ownership

No intangible taxes

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