Why Wyoming?
There are several reasons why Wyoming is an ideal place to live or to invest in real estate property.
Benefits of Wyoming
Being a Wyoming resident also has exceptional tax benefits. Highlights, which you can discuss with your accountant, include no state income tax, corporate tax, estate tax, capital gains tax or trust tax; excise tax, sales property and inheritance taxes are among the lowest in America.
Additionally, Wyoming has adopted a progressive version of the Uniform Trust Code and has extended the Rule against Perpetuities to 1000 years for trusts administered in Wyoming. It is one of just a few states where a family trust company can be formed and administered without regulation by the State Banking Commission.
Wyoming is considering legalizing asset protection trusts in its next legislative session and already allows ownership of real and personal property in forms that provide significant asset protection as compared to other states.
Wyoming's progressive trust and asset protection laws combined with its being a "no tax" state makes it the best on-shore tax haven in the United States. It has been consistently rated as the #1 most wealth-friendly state by Bloomberg Wealth Manager and other similar publications.
Conservation Buyer Program
In conjunction with the Jackson Hole Land Trust, this program assists buyers in helping protect the wildlife habitat, unique views and agricultural heritage of Wyoming. Conservation easements can be donated to the Land Trust to protect a property's conservation values and restrict future development. Donors may be eligible for tax deductions of up to 50% of their gross adjusted income. For more information about the Conservation Buyer Program, please contact us.