Top 10 Wealth and Tax Reasons to buy Real Estate in Jackson Hole

 

No State Income Tax

Wyoming has no personal or cooperate income taxes for residents.

No Inheritance or Estate Tax

Continuing a long-standing tradition of abhorring taxes, Wyoming repealed its estate tax in 2005. Transferring to an heir in Wyoming does not place any Wyoming Tax burden on the heir, allowing a tax savings for future generations of families.

Dynasty Trusts

In Wyoming you can shield your real estate from federal estate taxes for up to 1,000 years through a dynasty trust for the benefit of your family or other beneficiaries. Multiple generations can make use and enjoy Jackson Hole Real estate without having to pay estate taxes, or even worse, having to sell a legacy family property in order to pay the taxes.

No tax on Out-of State Retirement Income

Jackson Hole attracts many second home owners for its natural beauty and casual western lifestyle, and these home owners often have retirement income that comes from out of state. Wyoming does not tax that retirement income.

No Intangibles Tax

Wyoming does not tax financial assets like stocks and bonds. Nor will Wyoming tax bank accounts.

Low Property Taxes

Property taxes in Jackson Hole are 6/10 of a percent. Put another way, you only pay $6,000/year on every $1,000,000 of your property’s assessed value.

Low Sales Taxes

Wyoming sales tax is 4% on non-essential goods. However, Wyoming allows individual county’s to levy an additional 2% in order to fund important projects. Jackson Hole has taken advantage of this additional 2% sales tax to fund the building of a new library, renovate our recreation center and create over 100 miles of bike paths.

 

Please discuss with your attorney or accountant.

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Bill Van Gelder
Associate Broker, Jackson Hole Sotheby's International Realty

Jackson Hole Sotheby's International Realty

Developers & Partners

Bear Development Northworks Jackson Hole Sotheby's International Realty Thousand Design