It is mid April in Jackson Hole – the time of year where one day it is sunny and warm followed by a small snow squall the next day. But don’t worry. It’s melts off by noon. Jackson Hole Mountain Resort concludes another banner season. But if you still want to ski, head 10 minutes up Teton Pass and hold on to winter a bit longer with a snow pack that will last until May. The hustle and bustle of town slows down and locals gather to enjoy the “off season” menu specials at their favorite restaurants.
So on April 15th, tax day, how do you feel if you live in Jackson Hole, WY? The consensus is quite good. The news is: if you live here it is likely you won’t feel as much of a tax pinch as you may in other states.
USA Today reports that according to the Tax Foundation, a think tank that advocates for lower taxes and a simpler tax code, Wyoming has the best business tax climate in the country due to no personal or corporate income taxes and less complicated tax codes. In addition the Foundation reports that states with low – or no – income taxes are attractive to businesses because it is easier to attract employees to such states.
Recently MSN Money ranked the top 10 states with the lowest tax burden. Wyoming took the number one spot. MSN Money notes about Wyoming, “It also has a 4 percent sales-tax rate, one of the lowest nationwide. And if you need more convincing, the state has the lowest beer tax, at just 2 cents per gallon of beer (the highest is Alaska, at $1.07 per gallon).” Who knew?
With the beer tax an added bonus; here are a few bullet points about the inviting tax climate of Jackson Hole, WY:
- No state income tax.
- Dynasty trusts.
- No inheritance tax or estate tax.
- No state gift tax.
- No tax on out-of-state retirement income.
- Low property taxes.
- No excise taxes.
- No tax on mineral ownership
- No intangible taxes.
- No tax on the sale of real estate.
Of course the reasons for living in Jackson Hole, WY go far beyond the fiscal benefits. Online searches for real estate in Jackson Hole from outside the area were so high this year The Wall Street Journal’s real estate publication Mansion took note. At the gateway to Yellowstone and Grand Teton National Parks, and touting the world renowned Jackson Hole Mountain Resort, this is one of the most unique places in the world to live.
Tucked away and private, yet vibrant with a community of people who cherish living in the Greater Yellowstone Ecosystem, Jackson Hole remains a hidden gem in the rocky mountain west.
There is only one Jackson Hole.