Who is self-employed in Wyoming
- Energy. Oilfield, gas and coal-services contractors in Campbell, Sweetwater, Sublette and Converse counties, and mineral owners whose royalty deposits follow the price.
- Ranching. Cow-calf operations paid at the fall sale, hay growers, and the custom operators and truckers who serve them.
- The park gateways. Outfitters, guides, lodging and restaurant owners in Jackson, Cody, Dubois and Pinedale, earning from Memorial Day through hunting season.
- Relocated professionals in Teton County and along the Front Range spillover in Cheyenne and Laramie, running consulting businesses from a state with no income tax.
What is specific to a Wyoming file
- No income tax, no mortgage recording tax. Wyoming charges county clerk recording fees only; there is no state tax on the amount secured.
- Teton County values run into the program cap. A Jackson home worth several million produces a line sized on equity up to the $750,000 program maximum, not beyond it.
- Ranch property. A rural residence on some acreage is straightforward. A home that is part of a working ranch is reviewed differently — say which it is.
- Valuation. Cheyenne, Casper, Laramie and Jackson have workable automated-valuation data. Across most of the state, comparable sales are thin; expect a valuation step involving a person even under $400,000.
- Wildfire and winter. In forest-interface areas the property review confirms coverage is in force. Winter changes nothing; the closing is electronic.
The outfitter's year
A hunting and fishing outfitter books deposits in winter, guides from June through October, and buys horses, tack and trucks the return writes off. The net looks thin for a business that cleared well. A bank lends on the net. This program reads 12 consecutive months of client deposits and sizes the line from those.
Common questions
I guide from June to October and the rest of the year is quiet. Is that a problem?
No. Twelve consecutive months of deposits show the season in context rather than averaging it away.
Our house is worth several million. Is the line bigger?
The program maximum is $750,000 regardless of value.
Our home is on the ranch. Is that eligible?
It depends on whether the house is a rural residence that happens to sit on acreage or part of the working ranch itself; the two get different property reviews. Say which yours is and we will tell you how it is treated before you connect anything.
Is there a Wyoming tax when the lien is recorded?
No. County clerk recording fees only.