Tax Benefits of Wyoming Residency
Wyoming does not have any rules for establishing residency since it collects no income tax. When moving to Wyoming, it is often a matter of proving to your former state of residence that you are no longer a resident of that state.
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Non-Taxables
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No State Income Tax
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No Inheritance Tax
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No Estate Tax
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No State Gift Tax
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No Tax on Out-of-State Retirement Income
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No Excise Taxes
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No Tax on Mineral Ownership
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No Intangible Taxes
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No Tax on Sale of Real Estate
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Asset Protestion and Tax Reduction
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Dynasty Trusts
Duration: 1,000 yearsA dynasty trust is a trust that has the ability to last for multiple generations, often in perpetuity. Using a dynasty trust, families can pass assets down to succeeding generations free of estate and generation-skipping transfer tax.
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Low Property Taxes
Wyoming average effective rate: 0.57%Despite the fact that there is no state income tax in Wyoming, it has among the lowest property taxes in the U.S. The state’s average is 10th-lowest nationwide.
Property tax rates vary across the state, but are capped by state statute.