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Why You Might Want To Bring Your Business To Wyoming

by Teri McCarthy

Tax Benefits of Doing Business in Wyoming

One more reason to add to your list of why Wyoming is an amazing state to live and do business in: the tax benefits. Wyoming has some of the lowest tax rates of any state in the country. With no income tax for corporations or individuals and low sales, property and employment tax rates, Wyoming comes in first place for a tax climate that favors both businesses and individuals. But it doesn’t stop with low tax rates; Wyoming has other enticing offers for businesses that have prompted many business owners and entrepreneurs to consider relocating.

Tax Benefits of Doing Business in Wyoming

Business Relocation Assistance
The Wyoming Business Council is dedicated to helping businesses thrive and provides a range of services and assistance to businesses that relocate to Wyoming. Some of the services include:

•    The Community Development Block Program: Local Wyoming governments provide loans for job creation and new projects that benefit low and moderate income families through this federal grant. 
•    Human Resources Consulting: Whether you’re just starting out or have been in business for years, the business council can help to reduce turnover and thereby increase productivity and profit, allowing your company to grow, by providing the resources and connections to improve your HR Department. 
•    Trade Show Incentive Grant Program: Your business can receive assistance in financing the cost of attending trade shows, forums which benefit your business and promote Wyoming’s business climate.
•    Wyoming First Program: The business council provides support with promoting businesses that sell products made in Wyoming.
•    Workforce Training Grants and Programs: Grants are available for up to $4,000 per trainee for you to train newly hired or current employees. Programs are also available through the Wyoming Business Council in partnership with other organizations to deliver training for your workforce and supervisors or leaders. 

New Business Assistance

Wyoming is also a great place to start a new business and a wealth of resources are available across the state to help entrepreneurs get started on the right foot. The University of Wyoming’s program Wyoming Entrepreneur, with offices throughout the state, provides assistance to entrepreneurs through three programs: the Small Business Development Center, the Procurement Technical Assistance Center and the Market Research Center. Wyoming Entrepreneur offers a variety of consultation services including: 
•    Business planning consultation and free business plan review
•    Tax and accounting consultation
•    Commercial loan assistance
•    Buying and selling a small business valuation services
•    Information and guidance for finding funding sources
•    Marketing consultation

See what commercial opportunities are currently for sale or for lease in Teton County, Wyoming.

Let me know if you have relocation and/or business questions, or if you would like to know what's available in other Wyoming counties.

America's Best Retreats
Jackson Hole is Number One For a Vacation Home
 
This week's issue of Barron’s magazine features The Best Locations in America for a Second Home, whereGrand Teton National Park Jackson Hole is ranked number one.  During their annual review of the second home market, it was discovered that buyers are fleeing high-tax states and buying up properties in states with less onerous tax burdens. In late 2012, real estate prices have risen, especially in low-tax states, such as Wyoming, Nevada, Florida and Texas. 
 
Wyoming, a state with no debt and a budget surplus of about $1 billion, saw a tax-motivated buying surge in Teton County, the second half of 2012.  Jackson Hole, Wyoming saw almost a 100% increase in luxury home sales compared with the same time period in 2011.   An astonishing forty-one Teton County luxury homes, priced over $2m, were purchased from July 1 through December 31, 2012, with an average sales price of $4,988,171.   The same time period in 2011, twenty-one luxury homes sold with an average price of $4,339,562. The percentage of list-to-sales-price jumped to 93% in 2012 from 89% in 2011.
 
luxury homeBarron’s features Jackson Hole, Wyoming as number one in their list of the twenty best places for second homes. It’s no surprise that people are choosing Jackson Hole to escape high taxes elsewhere.  Besides being tax friendly, Jackson Hole has spectacular scenery and clean air, low crime, year-round outdoor recreation, culture, good schools, wildlife, and it's located next to Grand Teton and Yellowstone National Parks.  There is no state income tax, and property taxes in Teton County are some of the lowest in the nation at approximately $6,000 per $1m of assessed property value. 
 
Barron’s list of America’s Best Retreats for a Second Home:
 
1. Jackson Hole, Wyoming
2. Palm Beach, Florida
3. Hanalei, Hawaii
4. Park City, Utah
5. North Lake Tahoe, California
6. Mount Desert Island, Maine
7. Austin, Texas
8. Aspen, Colorado
9. Wailea, Hawaii
10. Lake Geneva, Wisconsin
11. Vail, Colorado
12. Brays Island Plantation, South Carolina
13. Martha’s Vineyard, Massachusetts
14. Scottsdale, Arizona
15. Palm Springs, California
16. Kiawah Island, South Carolina
17. Hamptons, New York
18. Sun Valley, Idaho
19. Pebble Beach, California
20. Sea Island, Georgia
 
Considering a move to Wyoming?  Take a look at luxury homes in Jackson Hole currently listed for sale in the Teton MLS. Give me a call 307-690-6906 if you would like to know more about Jackson Hole properties and living in Jackson Hole, Wyoming.
 

Why Choose Wyoming to Make A Living?

by Teri McCarthy

The Best States to Make a Living in 2012

Where is the best place to make a living?  Wyoming is rated one of the top 10 states to make a living in 2012.  Moneyrates.com ranked states based on
 
Average income
Cost of living, based on the ACCRA Cost of Living Index
State income tax rate (based on the bracket for the state’s average income)
Unemployment rate
 
Rankings are determined using an adjusted average income figure based on these factors. Wyoming, one of the best states to make a living, benefits for a relatively low unemployment rate along from having no state income tax.
 
See where your state ranks in terms of the best place to make a living
 

Displaying blog entries 1-3 of 3

Whether you’re relocating to Jackson Hole, or want to buy a vacation home, primary residence, second home, resort property, condo, townhome, land, horse property, Teton view home, golf estate or ski-in/ski-out home, you’ll find all Jackson, Wilson, and Teton Village real estate listed for sale here. You need an advocate, a buyer's agent to represent your best interest, with confidentiality, Teri will you acquire a Jackson Hole property for your 1031 exchange, investment, second home or future retirement.  Take advantage of the many tax benefits of Wyoming residency. Already own a home in Jackson Hole?  Interested in knowing the value in today's market? Thinking about selling? Talk with Teri about creative marketing to attract qualified buyers for your home.  Teri McCarthy is the Broker/Owner of Jackson Wyoming Real Estate.  Teri holds the designations of ABR (Accredited Buyer Representative), CRS (Certified Residential Specialist) and RSPS (Resort and Second Home Specialist) matching buyers and sellers with Jackson Hole properties since 1989. All rights reserved 2015 Teri McCarthy Inc and Teri McCarthy, Realtor, ABR, CRS, RSPS.