Reply to What's the deal with Jackson Hole WY?

Forum Index » Real Estate

Reply to "What's the deal with Jackson Hole WY?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]No state income tax in Wyoming. We know 2 wealthy people who make it their primary residence for that reason. And they've achieved wealth critical mass so there are the amenities wealthy people want - a good airport, great restaurants, decent shopping, cultural and outdoor activities, etc.[/quote]

Legit question: do these people actually spend 51% of their time in no income tax states?

I’m convinced that many do not and this is actually one of the biggest sources of tax fraud, tho it’s very difficult to police.[/quote]

You don't need to necessarily spend 51% of their time in no income tax states.  You could spend 2 months in CA, 4 months in WY, 2 months in NY and the rest of the year in Europe and be considered a WY resident for US tax purposes.  From my experience, tax fraud is actually pretty rare for these people because their private jet travel creates a very transparent record of where they spend time.  Jackson Hole exists for UHNW individuals who are there to avoid poor people and state income taxes.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics