Wyoming sets the standard in high flexibility and low costs for business incorporation.
Wyoming's close LLC statutes and rules allow for ease in business formation and management, asset protection from creditors, and privacy of company officers and members. Wyoming is one of the most preferred states to establish and maintain a family trust. This is due to the state's tax benefits in combination with a uniform trust code allowing for enhanced flexibility in asset administration for multiple generations of beneficiaries without the exposure of federal transfer taxes. Reference: Bank of Jackson Hole Trust Department
Wyoming Ranked No. 1 Tax Structure for 2015 (10.28.14): Wyoming ranks dead last among states for population, but the Tax Foundation reasserted Tuesday that the state is still No. 1 for its tax climate for 2015. Without a corporate tax or income tax, the state tied in those metrics with Nevada and South Dakota that also lack those taxes. But the state seized its No. 1 ranking by having a friendlier climate for sales tax, unemployment insurance tax and property tax overall. The state ranked 13th for sales tax with its 4 percent state tax, but landed 34th and 35th for unemployment insurance and property tax, respectively. Wyoming’s economy has been performing well, too. The state recorded real GDP growth of 7.6 percent, according to the U.S. Bureau of Economic Analysis. On the opposite end of the spectrum, No. 50 ranked New Jersey grew by only 1.1 percent. Reference: Wyoming Business Report
Wyoming Business Council: A key benefit of doing business in Wyoming is not having to pay corporate or personal income taxes. Besides allowing business owners to enjoy higher earnings, the lack of an individual income tax contributes to a lower cost of labor in the state. Wyoming has ranked #1 for business-friendly taxation and, according to the Wyoming Taxpayers Association, Wyoming’s personal tax burden is the second lowest in the nation. Wyoming’s major yearly personal taxes are about 4 percent of income while the national average varies from 8 percent to 10 percent. Reference: Wyoming Business Council
Kiplinger: You could save money by establishing residency in the state with the lowest tax burden. The Equality State is a tax haven for cowboys and retirees alike. Reference: Kiplinger
Town of Jackson
State of Wyoming
Jackson Hole Travel & Tourism Board
The Jackson Hole Chamber of Commerce works closely with the Jackson Hole Travel & Tourism Board, who markets and manages Jackson as a destination. See meeting notes from monthly TTB meetings below.
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