Did you know that Wyoming has the best business tax structure in the U.S?
No Corporate Taxes
No Personal State Income Tax
No Inventory Tax
Cody has an Opportunity Zone
Opportunity Cody was created to help match investors with viable properties located within the federally designated Opportunity Zone. Cody’s OZ has an abundance of business properties available for immediate investment in on-going business ventures or for development.
For additional information regarding Cody’s Opportunity Zones, please contact us at (307) 587-3136 or [email protected].
In a very simplistic explanation, an individual with a capital gain from the sale of an appreciated asset is obligated to pay 23.8% in federal tax. To spur the transfer of stagnant assets, the new tax law allows a deferral of capital gains taxes for up to 10 years, provided that you invest that gain in a business or business property in a designated Opportunity Zone. Investments that remain for the full 10 years will see a reduction in their basis of 15%. What that means is that $1 million gain, taxable at $238,000 today would actually be based on a value of $850,000 and approximately $202,000 in taxes. This is effectively a 3.6% return on investment. But it gets much better. The appreciation of the new investment will not be taxed for capital gains at the end of the 10 years.
Top Employers in Cody
- Cody Regional Health, Medical – 700+ Employees
- Cody School District, Education – 382 Employees
- Walmart, Retail – 240 Employees
- Blair Hotels, Accommodations – 240 Employees
- Buffalo Bill Center of the West, Museum – 134 Employees
- Y-Tex, Manufacturing – 125 Employees
Top Industries in Park County
- Retail Trade, 1,899
- Healthcare & Social Services, 1,413
- Construction, 1,023
- Teachers, 963
- Manufacturing, 558
- Public Administration, 552
- Agriculture, 452
Infrastructure
Despite our remote, mountain feel, Cody’s accessibility and infrastructure rival any big city. Whether your business requires freight-line transportation, or high-speed internet, Cody has it all. When you have the views and the means, doing business here is a no-brainer.
Wyoming is a Right to Work State
The State of Wyoming invests heavily in the development of a quality workforce.
Through the Department of Workforce Services, employers can access programs to train new and existing employees. These programs are designed to increase worker productivity, improve employee retention within companies and develop an overall higher quality labor pool. The program provides up to $4,000 for new hires and up to $2,000 for existing employees. More information on the program specifics can be found at the Department of Workforce Services.
Forward Cody will assist businesses in the development of workforce training plans and in completing applications for funding assistance.