West of Snake South of Wilson.jpg

Establishing Wyoming Residency

Consistently ranked as one of the most tax-friendly states in the country, Wyoming offers homeowners nearly as many financial benefits as it does outdoor activities and amenities. Learn about residency requirements in Wyoming so that you can take advantage of the state's shelter from income tax, corporate tax, estate tax, capital gains tax and trust tax, as well as some of the lowest excise, sales and property taxes in the United States.

Without a state income tax, Wyoming does not have a formal set of residency requirements for tax purposes, however, there are several ways that new homeowners can show their intent to terminate residency in their former state. Since most states use a fact-specific inquiry rather than a bright-line rule to determine residency, these 10 straightforward tips can help you avoid income taxes in other states by indicating that your Jackson Hole home is your newly established residence.

  1. Downsize or sell the residence in your former state.
  2. Spend more time in Wyoming than any other state.
  3. Become a registered (and active) voter in Wyoming.
  4. Secure a Wyoming driver's license and register vehicles in the state.
  5. Move your bank accounts to Wyoming.
  6. Update estate planning documents and the situs of trusts and businesses to reflect your Wyoming address.
  7. Get involved with Wyoming's social, civic and religious organizations, and donate to local charities.
  8. Schedule regular appointments with Wyoming service professionals such as doctors, dentists, accountants and lawyers.
  9. Change your mailing address to Wyoming for financial and insurance institutions, clubs, memberships and magazines.
  10. Move your most treasured belongings to your Wyoming home, including heirlooms, family records and photo albums.

In addition to the many annual tax benefits, establishing residency in Wyoming can create a wealth of opportunities for long-term trust and asset protection. To learn more, download the Wyoming Residency Requirements and Tax Benefits Brochure.