Video Transcript
We are with IPX1031 Exchange Services. One of the territories that we cover is the state of Wyoming. Can you speak to our referral sources and clients about what is unique regarding exchanges in the state of Wyoming?
Well, happily, the state of Wyoming, either selling property or buying property there as a part of a 1031 Exchange is a very straightforward, easy process.
There’s nothing different about doing a 1031 Exchange in Wyoming as compared to, say, the state of California that has eventually a clawback provision. Nothing like that for the state of Wyoming. The only thing to perhaps keep in mind is that there is no state income tax. So when you sell an investment piece of real estate, you’re going to be deferring just the federal capital gains. There’s no state, gain to be deferred.
Understanding the Wyoming 1031 Exchange Process
If you have any questions about the Wyoming exchange process or any other 1031 Exchange topics, please visit our Wyoming IPX1031 web page at www.ipx1031.com/wyoming. We’re happy to help.
Click to visit Wyoming 1031 Exchange page