Strengthening the Local Economy
The Jackson Hole Chamber of Commerce plays a vital role in bolstering the local economy. Through advocacy, education, networking events, visitor interaction, and community engagement, it fosters a supportive business environment. The Jackson Hole Chamber of Commerce is a catalyst for positive change, convener of leaders and influencers, and champion for the business community.
The Chamber of Commerce operates three year-round and two seasonal visitor service centers, creating vital touchpoints to educate and inform visitors to our valley. Our guiding principles during visitor contacts are education, access, information, sustainability and management.
By providing leadership in improving the quality of life in our world-class destination, the Chamber of Commerce strengthens our vibrant, dynamic, and welcoming community, and treasured environment.
WYOMING STATE TAX RULES & RESOURCES
Wyoming's closed 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. See the referenced resources to begin your research in deciding if Wyoming is the place you would like to hang an open sign and your hat on a hook.
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, Wyoming tied with Nevada and South Dakota in those metrics/ Those states also lack those taxes.
But the cowboy 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
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
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
If Yellowstone National Park or the snow-capped peaks of the Grand Tetons is your idea of a great backyard, then Wyoming could be an ideal spot to spend your retirement. That taxes are senior-friendly is an added bonus. Wyoming has no state income tax, no estate or inheritance tax, and sales taxes are minimal. Retirement income, including Social Security benefits, is also tax-free. Reference: Today
TOWN OF JACKSON GUIDELINES
Town Office: 150 E. Pearl St., Box 1687, Jackson, WY 83001, 307.733.3932.
Business Licenses: Required by the town on businesses within the city limits.
Zoning Ordinances: A list of ordinances, as well as a color-coded map of zones, is available at the Town Offices.
Inspections: Required at different phases of construction. Any change of an existing business requires an inspection by the Town and Fire Inspector. 307.733.4732.
Sign Ordinance: A sign permit is required and there will be a fee. A complete copy of the ordinance is available at the Town Offices.
New Construction: Sewage capacity and water capacity fees are charged on newly constructed businesses.
TETON COUNTY GUIDELINES & RESPECTIVE OFFICES
The Teton County Comprehensive Plan and Land Development Regulations, which include performance standards, are available at the County Planning Office. This serves as a guideline for building standards, zoning restrictions, building heights, parking requirements, setbacks, landscaping requirements, etc.
Teton County Planning & Development Office: 200 S. Willow, second floor; Box 1727, Jackson, WY 83001; 307.733.3959, Fax 307.733.4451. This is the main contact for permits and regulations to do with business in Teton County.
Public Health Office: 460 E Pearl St.; Box 937; Jackson, WY 83001; 307.733.6401.
Business License: Not required, but a "change of use" permit is required in commercial districts if the use is changed and a development permit is required for a home business or other commercial activity and for non-residential development. Approval of permits may take 4 to 6 weeks depending on the use or the size of the development, 307.733.4430.
Food Sales: The sale of food items requires a permit from Teton County Environmental Health Office, 307.732.8490, Consumer Health Services, Cheyenne, WY, 307.777.7211.
Sign Ordinance: A complete copy of the existing sign ordinance is available at the County Planning Office.
Commercial Districts: Maps showing commercial areas in Teton County are available for a fee at the County Planning Office.
New Construction: All construction requires a building permit, the cost of which is based on the value of the building construction. Applications are available at the County Building Department. Approval for these permits may take 3 to 4 weeks.
Home Base Occupation Permit: Teton County has made allowance for some businesses to be run out of the home in residential areas. A list of businesses that qualify is available at the Planning Office.
Large Developments: Approval for large developments must be reviewed by the Planning Commission and sent on to the County Commissioners with the Commission's recommendations. This process takes from 4 to 5 months.
Building Contractor Requirements: All building contractors must comply with the State Department of Revenue and Taxation, 307.777.7961, related to their requirements. Non-resident contractors must contact the Department of Employment, Worker's Compensation, 307.777.6763.
STATE OF WYOMING GUIDELINES
State Sales Tax Licenses: Sales and some services are subject to sales tax and require a sale, and use tax license from the Department of Revenue and Taxation in Cheyenne, 307.777.7961.
Need more information? Explore our Explorer Magazine Travel Planner, which you can also explore electronically HERE. If you're already here, feel free to stop by one of our Visitor Centers where an experienced agent will be able to guide you in the right direction.