Tax laws

MTV: Celebrities move to Wyoming over tax laws

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By Ellen Fike, Cowboy State Daily

Celebrities are drawn to Wyoming for its lack of tax laws, a new report from MTV News has found.

A regular segment of MTV’s news called “The Pop Factor” details how popular culture influences more than the music charts and box office numbers, and for this segment, the producers looked at the Wyoming real estate market.

“Mega stars like Harrison Ford, Sandra Bullock, Jeffree Star and RuPaul are taking over real estate in Wyoming, a state known for mud, dung and manual labor,” said host Yoonj Kim.

Author and Wyoming native Justin Farrell said the ultra-rich and celebrities are interested in Wyoming because of its lack of income tax.

“What if you have $ 100 million and you don’t have to pay income tax?” It can save you a lot of money, ”he said.

He added that one of the reasons Wyoming lacks state income tax is its reliance on fossil fuels, and noted that the state’s political stance is generally against taxes.

Reality TV star and California real estate agent Josh Flagg said even though he had no listings in Wyoming, he was never surprised when a client called him to let him know he was moving. in the state.

Flagg noted that while Jackson has always been a popular destination for the rich and famous, it has become even more so in recent years with the rumor of celebrities such as the Kardashians, Bullock and Ford having homes there.

Jackson has the highest per capita income in the state, and his median price for a home is $ 2.6 million. As a state, Wyoming has the most billionaires per capita in the world.

Rapper Kanye West owns several homes in Cody. YouTuber and makeup mogul Jeffree Star owns a home in Casper.

Jackson housing activist Clare Stumpf said house prices in Jackson are so high that she lived in a Subaru for five years, but was eventually converted into a van.

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