How Much Is Your Home Worth?

Ultimate Guide: Tax Benefits of Living in Wyoming

Presented by Visosky | Prugh Real Estate

No State Income Tax:

Wyoming does not impose a personal or corporate income tax, allowing residents to retain more of their earnings.

No State Gift or Estate Tax:

Wyoming imposes no state-level estate, inheritance, or gift taxes—helping preserve wealth across generations.

Low Property Tax Burden:

Teton County’s average effective property tax rate is around 0.6%, making it one of the lowest in the U.S.

No Tax on Out-of-State Retirement Income:

Retirees living in Wyoming do not pay state tax on pensions, IRAs, or 401(k) distributions earned elsewhere.

No State Capital Gains or Real Estate Transfer Taxes:

Profits from real estate sales are not taxed at the state level, and there is no real estate transfer tax.

Dynasty Trusts (Up to 1,000Years):

Wyoming permits long-term asset protection through dynasty trusts—ideal for family wealth planning.

Asset Protection Through LLCs and Trusts:

Wyoming offers enhanced privacy, low fees, and strong legal protection for LLCs and asset-holding structures.

No Tax on Intangible Assets:

Wyoming does not tax stocks, bonds, or bank accounts, helping preserve investment returns.

No Excise Tax on Essentials:

Groceries and fuel are exempt from additional excise taxes, helping lower day-to-day living expenses.

No Mineral Ownership Tax:

Owners of oil, gas, or coal rights are not taxed merely for ownership—only for resource extraction.

No State Tax on Social Security Benefits:

Social Security income is not taxed at the state level in Wyoming.

Favorable Corporate Tax Climate:

Wyoming has no corporate income tax, no franchise tax, and minimal reporting requirements.

Tax Relief Programs for Seniors & Veterans:

Wyoming offers partial exemptions or refunds to qualifying low-income homeowners, veterans, and seniors.

Sales Tax Rate is Lower than National Average:

At 4% state-wide (plus local additions), Wyoming's sales tax is below many other states.

Bloomberg & Tax Foundation Rankings:

Frequently cited as one of the most tax-friendly states in the country by financial publications.