Bloomberg’s Personal Finance Magazine has consistently named Wyoming as the most tax friendly state in the U.S.
Highlights for you to discuss with your accountant include:
- No state income tax either personal or corporate
- No intangibles tax
- No tax on mineral ownership
- Wyoming allows for Dynasty Trusts which can continue for 1,000 years
- No state gift tax
- No tax on out-of-state retirement income
- No excise tax
- No inheritance tax: “Wyoming can collect a very limited estate tax, which is tied to the federal estate tax credit, but you have to have a very large estate before that would kick in. But in general Wyoming does not collect any inheritance tax.” according to Brian Jones, Senior Vice President of Bank of Jackson Hole.
- Low property taxes
- Low sales tax
- No tax on the sale of real estate