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What Are the Tax Benefits of Real Estate Investing in Wyoming

Ryan O’Rourke

October 1, 2023

Wyoming is well known for its wide open spaces, national parks, and natural beauty. Yet, many are still unaware that the state offers equally breathtaking tax incentives for real estate investing. With no state income tax, corporate income tax, and an enviable property tax structure, Wyoming is a haven for those looking to maximize their real estate investments.

No State Income Tax

Wyoming is one of the few states in the US that does not have a state income tax. Because of this, investors won’t owe state income taxes on their rental income or state capital gains taxes from property sales.

No Corporate Income Tax

Wyoming is also a zero corporate income tax state. So, if you choose to channel real estate transactions through a corporation or LLC, you’ll pay lower operating costs, freeing up more money for future investments.

Low Property Taxes

While Wyoming assesses property tax levels by county, the state’s average property tax rate is 0.55 percent, the 10th lowest in the country. Those savings translate into lower costs, making it more affordable to maintain assets, whether commercial, residential, or industrial properties.

No Inheritance or Estate Tax

The state’s lack of inheritance or estate tax offers another advantage for real estate investors. Investors who own multiple properties often use succession plans to pass assets on to their heirs. Because Wyoming does not impose inheritance or estate taxes, succession planning is simpler and less expensive, ensuring investors pass along their assets with fewer tax-related obstacles.

No Sales Tax on Real Estate Transactions

Sales tax can add a significant cost to the purchase price of a property. But in Wyoming, this additional cost is eliminated, allowing investors to rechannel their savings into renovations or additional investment opportunities.

1031 Exchange Opportunities

Wyoming does not impose a sales or capital gains tax on real estate transactions; however, capital gains taxes are also assessed at the federal level and may still apply. However, a 1031 exchange (also known as a like-kind exchange) allows you to defer capital gains taxes on the sale of an investment property by selling one property and reinvesting (or exchanging) it into another property in a different location. This spreads risk and broadens your investment opportunities while simultaneously deferring tax liability.

No Intangible Personal Property Tax

In some states, holding mortgage notes could subject real estate investors to intangible personal property tax based on the value of notes and bonds. In Wyoming, this tax is not applicable, which means investors do not have to pay tax on the value of their mortgage notes.

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