Wyoming the #1 Tax Friendly State

There are not enough fingers on your hands to count reasons to own a home in Wyoming: the mountains, rivers, trophy hunting and fishing, our national parks and expansive public lands, the panoramic vistas, abundant wildlife (in your back yard), friendly adventure-driven communities (I could go on…). Wyoming has been cited by Bloomberg Wealth Management Magazine as “the most friendly tax state in the country”. We feel fortunate to live here.

What makes Wyoming tax friendly? The ten best reasons are:

1. No state income tax. With no state tax on personal or corporate income Wyomingites have more disposable income.

2. In Wyoming, you can shield your real estate from federal estate taxes for up to 1,000 years through a dynasty trust.

3. No inheritance tax or estate tax.

4. No state gift tax. A person who owns property in WY can gift that real estate to their heirs without having to pay a state gift tax.

5. No tax on out-of-state retirement income.

6. Low property taxes.

7. No excise taxes.

8. No tax on mineral ownership.

9. No intangible taxes: Wyoming doesn’t make you pay a tax on financial assets like stocks and bonds.

10. No tax on the sale of real estate.

Best State for Retirement

Bankrate ranked all 50 states according to a variety of factors that are important to seniors. Surprisingly, most of the top picks see a healthy dose of snow and swap ocean views for mountain landscapes. The highest-scoring spots were in the Midwest and West, with only one of the top states on the East Coast.

Strengths: Low taxes, good weather, low crime rate

And the winner is: Wyoming!

Retirees looking for out-of-this-world mountain views will find their happy place in Bankrate’s No. 1 place to retire in 2015. The state is home to famous national parks like Yellowstone and Grand Teton, as well as ample hot springs and wildlife.

Wyoming has many practical perks for those looking to live out their golden years here, including low cost of living and minimal crime. Although apartment rental prices are on par with the national average, residents can find bargains in areas like entertainment and car maintenance.

In Laramie, for example, a movie ticket will cost you only $9.02, 7 percent below the national average. A trip to the beauty salon also won’t break the bank, coming in at $28.43 (17 percent below average), and an auto service, like tire balancing, is $9.41, a whopping 20 percent below average.

As far as tax rates, it doesn’t get better than here. According to the latest tax burden ranking, residents of Wyoming paid the lowest percentage of income tax at just 6.9 percent, edging out Alaska at 7 percent.

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Lincoln County Demographics
Population 2014 Estimate 18,567
Population Male 51.1%
Population Female 48.9%
Median Age 37.4
Married 53%
Household Graduate 93%
Persons per Square Mile 4.4

Voting
Democrats 17.24%
Republican 81.16%
Independent 1.6%

Economics
Unemployment Rate 5.1%
Recent Job Growth 2.4%
Future Job Growth 39.8%
Sales Tax Rate 5.0%
Income Tax Rate 0.0%!
Household Income 62,542

Population by Occupation
Sales & Office 21.18%
Construction, Maintenance 18.3%
Professional 14.97%
Service 14.02%

Climate
Rainfall 15.5″
Snowfall 67″
Sunny Days 212
Average July High 81°
Average January High 29°

Geography
Land Area Square Miles 4,069
Elevation 6,332′
County Seat Kemmerer
Nearest Micropolitan Area Jackson
Nearest Metropolitan Area Salt Lake City

Housing
Living in same House 86.5%
Homeownership Rate 82.8%
Persons per Household 5.8
Housing Units (2013) 8,967

Major Employers
Exxon-Mobile
P&M Coal
Lincoln Co. School District
Star Valley Medical Center
Lincoln Co. Government

Transportation
Average One Way Commute 27 min
Travel in Automobile 68%
Carpool 20%
Mass Transit 1%
Work from Home 6%

Bill Wiemann
Bill WiemannAssociate Broker
Pilot and Real Estate developer, Bill enjoys his natural talent and vision for creating beautiful neighborhoods. With successful communities built in North Dakota, Arizona and the Alpine Airpark in Wyoming, he brings this experience to Real Estate of Star Valley. Call Bill for more information.

701-367-6161
bill@wjwholdings.com

Marion Schulte
Marion SchulteRealtor
Marion is a New Zealander who is proud to call America and the Alpine Airpark Wyoming home. She has a passion for fly fishing and aviation, and specializes in the Airpark Hangar Homes at 46U – Alpine Airpark. Call Marion for more information.

307-248-2073
kiwimarion@gmail.com

Alex Hermel
Alex HermelReal Estate Agent
Originally from Minnesota. Alex has been coming to Wyoming for 6 years and has finally decided to call Alpine home. He brings a passion for aviation and real estate to the Alpine Airpark. In his spare time he enjoys snowmobiling and skiing.

507-317-2582
ajhermel@gmail.com

Lisa Knutson
Lisa KnutsonRealtor
A pilot and outdoor enthusiast, Lisa feels lucky to call Alpine Airpark home for the last 6 years. She is passionate about the Airpark and embraces its love of aviation, sense of community, and making memories of a lifetime.

303-709-6526
lknutson46u@gmail.com