June 29, 2016 Real Estate News

N EW S Wednesday, June 29, 2016

185 West Broadway Jackson Hole, WY (888) 733.9009

www. jhsir .com

R E A L ES TAT E

®,™ and SM are licensed trademarks to Sotheby’s International Realty Affiliates LLC. An Equal Oppor tunity Company. Equal Housing Oppor tunity. Jackson Hole Sotheby’s International Realty is Independently Owned and Operated.

LOCAL AGENTS RANKED AMONG TOP IN COUNTRY

Jackson Hole Sotheby’s International Realty agents earn national rankings by Staff Writers

On June 24, REAL Trends released their annual ranking of “The Thousand” top real estate sales professional in the United States. The 2016 rankings are compiled as the top two hundred fifty individual sales agents and teams by sales volume and number of transactions during the 2015 calendar year. REAL Trends utilizes independent third-party verification of data sourced from a combination of agents, brokerages, real estate brands as well as local and state Association of Realtors© in the compilation of their annual rankings. In 2015, REAL Trends ranked Jackson Hole Sotheby’s International Realty as the 232ND brokerage in the nation by sales volume. Representing

nearly $775,000,000 in sales, it was the only real estate brokerage in Wyoming to be recognized. While not included in the 2016 REAL Trends 500 brokerage rankings, Jackson Hole Sotheby’s International Realty eclipsed the previous year’s sales volume, marking the second-strongest year in company history.

“These rankings further illustrate the talent and professionalism we seek in all of our agents. We’re incredibly proud of the group of agents we’ve assembled, and of what they’ve accomplished...”

-Donna Clinton, Managing Broker/COO for Jackson Hole Sotheby’s International Realty

Jackson Hole Sotheby’s International Realty sold nearly $810,000,000 in real estate in Wyoming and eastern Idaho during 2015.

This year, agents from Jackson Hole Sotheby’s International Realty once again ranked among the top in the nation for individual and team sales volume in 2016. Spackmans & Associates garnered a ranking of 70th in the nation for team sales volume—the highest ranking within the state. Of the top 250 individual sales agents in the nation, Tom Evans ranked 161st. Both Evans and the Spackmans have consistently been ranked by REAL Trends in prior years. “These rankings further illustrate the talent and professionalism we seek in all of our agents. We’re incredibly proud of the group of agents we’ve assembled, and of what they’ve accomplished,” said Donna Clinton, Managing Broker/CCO for Jackson Hole Sotheby’s International Realty. REAL Trends will be releasing their follow-up state-by-state analysis, “America’s Best” in early July.

WILD, WONDERFUL, WYOMING—THE TAX-FRIENDLY STATE

Consistently awarded the most taxfriendly state in the union by Staff Writers

Jackson Hole is no longer considered to be exclusively a vacation destination. There are numerous reasons why those who live in Jackson Hole have chosen to make their primary residences here. Jackson is one of the most scenic areas in the United States and will remain relatively “untouched” as 97% of the lands in and around Jackson Hole are permanently protected as conservation easements or as National Forest and BLM lands. Among other top reasons to call Wyoming home—the state’s overall taxclimate benefits. The Tax Foundation has again ranked Wyoming as the most taxfriendly state via their 2016 State Business Tax Climate Index, in no small part due to the lack of corporate and individual income tax within the state. This ranking is further enhanced by the state’s ranking as twelfth in sales tax. According to Brian Jones, Financial Advisor at Raymond James Financial Services in Jackson. Here are the 10 top tax benefits of residency in Wyoming:

Top 10 Tax Benefits of Residency in Wyoming 1. No state income tax: With no state tax on personal or corporate income, “you have more disposable income,” Jones says. 2. Dynasty trusts: In Wyoming, you can shield your real estate from federal estate taxes for up to 1,000 years through a dynasty trust. “You can establish a trust in Wyoming for the benefit of your family or other beneficiaries,” Jones says. “You can transfer your real estate into a limited liability company or family partnership and then put that into the “dynasty trust”. As a result, multiple generations can make use of and enjoy the property, without having to pay estate taxes or worse, having to sell the property in order to pay the taxes. A key point to remember: The trust must be administered in Wyoming. 3. No inheritance tax or estate tax: “Wyoming repealed its estate tax as of January 1, 2005,” Jones says. 4. No state gift tax: “Somebody who owns property in Wyoming can ‘gift’ that real estate to their heirs without having to worry about paying a state gift tax,” Jones says. 5. No tax on out-of-state retirement income: “A lot of people in Jackson Hole use Wyoming as a second home,” Jones says. “They have retirement income that comes from other states where they may be a resident. Wyoming doesn’t tax that retirement income that’s earned outside of Wyoming, which is certainly beneficial.” 6. Low property taxes: “Wyoming has very low property taxes compared to other states,” Jones says. “The taxes that you do pay here are based on the assessed value of the property.” 7. No excise taxes: When you fill up your car or buy groceries in Wyoming, you won’t pay any state tax on either. 8. No tax on mineral ownership: “A lot of states charge owners a tax on their mineral ownership, but Wyoming does not,” Jones says. “If you own minerals, you won’t pay a tax on it like you would your home”. 9. No intangible taxes: Wyoming doesn’t make you pay a tax on financial assets like stocks and bonds. 10. No tax on the sale of real estate.