Wyoming Tax Advantages
Wyoming is one of the most tax-friendly states. Below is a list of the top 10 tax benefits explaining why it’s good to own property in Wyoming.
- Wyoming levies no personal income tax and no tax on corporate income.
- No inheritance tax or estate tax.
- No tax on out-of-state retirement income.
- Wyoming offers Dynasty Trusts where you can shield your real estate from federal estate taxes for up to 1,000 years for the benefit of your family or other beneficiaries.
- No gift tax, so real estate can be gifted to your heirs without paying a gift tax.
- Low property taxes based on assessed value of your property generally in the range of 6/10ths of one percent of market value.
- Wyoming levies no intangible tax on financial assets like stocks and bonds.
- No excise sales tax.
- No tax on mineral ownership.
- No real estate transfer tax.
- No tax on Social Security, private pension, and individual wage income.