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Business Climate
Why
Wyoming?
- #1
most "wealth-friendly" state -
6th straight year - Bloomberg Wealth Manager magazine (June 2003)
- 3rd best
state for small business and entrepreneurship (August 2002)
- 8th
most livable state
- Morgan Quitno Press 2002 Most Livable State Awards. Rankings based
on 43 categories, including cost of living index, crime rates, state
and local taxes, unemployment rate, job growth, public and college education
rates, etc.
- 4th
best state in promoting a small, business friendly environment
- Small Business Survival Index
(October 2002)
- 2nd
best state for overall business climate
- Expansion Magazine
(October 1999)
- 2nd lowest
state in business property taxes - Minnesota Taxpayers Association in
collaboration with the National Taxpayers Conference (1998)
- 2nd
lowest state in personal tax burden - Wyoming Taxpayerís Association
- Wyomingís major yearly personal taxes are about 4% of income, while
the national average varies from 8 to 10 percent, depending upon income
level.
- #2
state in the Legislative Quotient (LQ) rankings
- Expansion Magazine (November 2000). LQ measures how states collect
and spend tax dollars.
- #1
best place to retire - Where To Retire magazine ‚ Bloomberg Personal
Finance (May 2001)
- Wyoming
is a "Right
to Work" state.
Corporation
Advantages
Wyomingís
model Business Corporation Act is based closely on the American Bar Associationís
model act.
Wyoming's Limited Liability Corporation Law was
first in the nation
to receive a favorable IRS
ruling on the tax treatment of the LLC. This form of corporation combines
the tax treatment of a partnership with a corporate shield on liability.
Wyoming also now has a Limited Liability Partnership option for business
owners.
Using
Wyomingís corporation law one may:
- Domesticate
a foreign corporation into Wyoming with no break in corporate existence.
- Continue
a non-US corporation into Wyoming with no break in corporate existence.
- Transfer
a Wyoming corporation to another country with no break in corporate
existence.
"Wyomingís
selling points for business are found in its available workforce training
programs and telecommunications structure. For the quality of life factor
it does provide a picturesque view of the world."
-
Business Xpansion Journal, September 2000.
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