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What's the story behind the more affluent going to Wyoming? Would love to understand this
by volkk 7y ago
What's the story behind the more affluent going to Wyoming? Would love to understand this
- QuercusMax 7y agoProbably a tax dodge / vacation home thing. I have no actual information to back this up, but usually when rich people start moving somewhere it's to save money.
- ore0s 7y agoTax haven! https://www.npr.org/2016/04/08/473477551/why-wyomings-laws-make-it-an-easy-tax-haven https://www.npr.org/2016/04/08/473477551/why-wyomings-laws-m...
- volkk 7y agookay but you don't have to entirely relocate your home there do you? this doesn't sound right
- driverdan 7y agoThat's some weak reporting. It says it's easy to setup shell corps with a registered agent. That's true for most states and is perfectly legal. They should have discussed how WY makes it easier than most states to avoid being directly connected in any documentation of the shell corp. This makes it harder to track down the real owners in cases when they're being used illegally or sought for litigation.
- pb7 7y agoI'm guessing there is a lot of cheap land near beautiful nature, skiing, hiking, etc that people tend to do in retirement.
- codingdave 7y agoAt least one factor is one of the lowest property tax rates in the country. When you have no mortgage, housing prices don't drive your monthly burn rate as much as property taxes. It changes the picture completely on what you look at when choosing where to go.