There is a reason why Jackson Hole Wyoming is a favorite hotspot for business-oriented individuals, corporate entities and trusts. While some people buy real estate in Jackson Hole for the absolute love of Jackson’s serene valley surroundings, others seek practical reasons such as the city’s advantageous tax-climate and the overall wealth benefits. Jackson is a wealth-friendly state and the residents of this resort town are privileged to enjoy a generous number of personal wealth management opportunities.
- Tax-benefits: There are no state taxes on personal and corporate income in Wyoming, the state where Jackson Hole is situated. Wyoming has also repealed many other taxes like estate tax, excise tax, gift tax, mineral ownership tax and taxes on intangible assets like stocks and bonds.
- Low taxes on property: Property taxes in Jackson Wyoming real estate are much cheaper than those in other American cities. Furthermore, no taxes need to be paid on the sale of real estate.
- Dynasty-trusts: By turning your real estate into a limited liability company and establishing it as a dynasty trust in Wyoming, you can get exempted from federal estate taxes.
- Postretirement wealth-planning: For retirees who choose to spend their newfound free time in Jackson, the city offers ample scope for management of pension funds. Retirement income earned outside of Wyoming is not taxed in Jackson Hole. This can be truly beneficial in the case of a retired individual who wants to utilize his savings productively, by engaging in Jackson’s thrilling recreational adventures.