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

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[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 spend 51% of your time in Wyoming.  You just need to not spend more than 51% of your time in any other one state.  Not hard to do for someone who has a house in San Francisco, and apartment in NY, and spends some time abroad.  They then pick Wyoming as their state of residence.

It's actually relatively easy to do in the DC area.  House in DC, home on the Eastern Shore, ranch out west.  Spend Friday through Monday at the Eastern Shore, long holidays at the ranch, and travel elsewhere on business throughout the year.

Everyone I know who does this keeps meticulous records.  [/quote]

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