Tax Benefits in Wyoming
18 July, 2017
Wyoming is well-known as one of the lowest taxed states in the US. See below how you can benefit from doing business in Wyoming.
No state income tax
There is no tax on personal or corporate income
No state capital gains
Capital gains taxes are taxes that you need to pay when you sell and asset that has gone in value.
Low sales tax
With 4% sales tax Wyoming belongs among states with the lowest sale taxes.
No tax on the sale of real estate
Wyoming real estate sales are not taxed
No excise tax
Want to fill up your car with gas or buy groceries? You will not pay any state tax on your gas or food
Low property taxes
It has super low property taxes compared to any other state.
No inheritance tax and no estate tax
There is no state inheritance tax assessed
No tax on out-of-state retirement income
Wyoming does not tax retirement income that comes from other states where they are residents and if the participant is a resident of Wyoming then the original state cannot tax that income either.
No state gift tax
Anybody who owns real estate in Wyoming can gift that property to their heirs without having to worry about paying a state tax
No intangible tax
No tax on financial assets such as stocks and bond.
No tax on mineral ownership
Unlike many other states, Wyoming won't charge you a tax on mineral ownership
Starting a company in this business-friendly state can save you a lot of money, not to mention your time.
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