Happy New Year! We know that many of you are spending the time between Christmas and New Year trying to reconcile your records and finalize $ before the end of the Tax Year. As you wrestle with these challenges, take a minute to consider the Tax Benefits of Investing or Residing in Wyoming;
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No State Income Tax |
If you’re unfortunate enough to still be working, no state income tax = more disposable income
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No State Company Tax
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If you’re an entrepreneur, no state company tax = more profit
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No State Excise Tax
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If you buy groceries or gas, no state excise tax = more disposable income
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No Tax on the Sale of Real Estate
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If you sell Real Estate in Wyoming, no tax on the sale of real estate = more capital gain for You
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No State Gift Tax
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If you are a generous soul, no state gift tax means you can gift real estate to your heirs without paying gift tax = more inheritance for your heirs
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No State Inheritance Tax
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Wyoming’s estate tax is tied to the federal tax credit and applies only to those with substantial estates. = more inheritance for your heirs
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No Tax on Out of State Retirement Income
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= more disposable income
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Set up a Dynasty Trust
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protect your assets from federal estate taxes for up to 1,000 years; = more inheritance for your heirs
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No Tax on Mineral Ownership
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a ‘hidden’ property tax that does not exist in Wyoming = more disposable income
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No Intangible Taxes
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no taxes on stocks and bonds = more disposable income
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Low Property Taxes
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2009 mill levy is 57.32 for teton county, wy = more disposable income
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When you’re done counting your $ and realizing the opportunity that Wyoming presents, take a minute to remind yourself of the ‘work-life’ balance benefits;
- Grand Teton + Yellowstone National Parks;
- Fly Fishing + Big Game Hunting;
- Skiing, Hiking, Mountain Biking; Rafting; Golf.
Still questioning my logic? Is the devil inside arguing with you? Look at the numbers;
Commercial Office + Retail suites or entire buildings are down 20-25%.
Start small - use your IRA to Invest in a Commercial Office or Retail suite for $500,000-700,000; or
Go for it - Leverage the opportunity presented by the economy with the rare offering of several landmark buildings in Jackson Hole.
To maximize all the tax benefits you will need to become a resident of our fine county. Lucky You! Right now, the Median Home Price is down 25% from 12 months ago.
Still unsure, give us a call.
Meagan Hill is a Commercial Real Estate Investments Specialist and Principal of NAI Jackson Hole servicing the Jackson Hole WY and Teton Valley ID markets.
For further information, contact Meagan at (307) 734-8700 or meagan@naijacksonhole.com
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