Establishing Wyoming Residency
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.
- Downsize or sell the residence in your former state.
- Spend more time in Wyoming than any other state.
- Become a registered (and active) voter in Wyoming.
- Secure a Wyoming driver's license and register vehicles in the state.
- Move your bank accounts to Wyoming.
- Update estate planning documents and the situs of trusts and businesses to reflect your Wyoming address.
- Get involved with Wyoming's social, civic and religious organizations, and donate to local charities.
- Schedule regular appointments with Wyoming service professionals such as doctors, dentists, accountants and lawyers.
- Change your mailing address to Wyoming for financial and insurance institutions, clubs, memberships and magazines.
- 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.