Wyoming Tax Benefits

Wyoming has long been considered one of the most tax-friendly states in the country. And with mountain and ranch homes becoming even more popular for remote workers, second homeowners and retirees following the pandemic, the Cowboy State’s “tax haven with a view” has become too good to pass up for many. 

MoneyGeek recently rated Wyoming as the No. 1 tax friendly state, as did Kiplinger’s for middle-class families, while several others, including USA Today, WalletHub and SmartAsset have placed the state near the top of their lists for retirees and the wealthy.  

So what makes Wyoming so tax friendly? We’ve included a list of the state’s tax benefits below, followed by how you can establish residency in Wyoming to take advantage of them.

1. Sell or downsize your home in your former state
2. Live in Wyoming more often than any other state (and track the time you spend here for your records)
3. File an affidavit of domicile
4. Migrate the situs of your trusts to Wyoming
5. Apply for a Wyoming driver’s license and register vehicles here
6. Register to vote and vote regularly in Wyoming
7. Direct your charitable giving toward Wyoming-based nonprofits
8. Transfer important possessions, like family heirlooms, photo albums and pets, to your Wyoming home
9. Engage Wyoming service professionals such as local accountants, lawyers, doctor and dentists
10. Transition to a bank and/or financial planner in Wyoming
11. Change to your Wyoming mailing address for magazines, credit cards, clubs, etc.
12. Update documents like passports, insurance policies and wills with your -Wyoming address
13. Join local civil, social and religious groups in Wyoming