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In a state that is geographically designed by its latitude and longitude, and not any natural landmarks, Wyoming stands tall in the middle of our country. It is in the top ten in size by area of all the United States, however, it is the least populated state in the nation. This results in many open spaces and uninhabited terrain. The land is comprised of many diverse terrain and climates. It is mostly covered with expansive rangeland and craggy mountain ranges. In the West is the imposing and massive Rocky Mountains, while over in the East is an elevated flatland known as the Great Plains. This leads to an integrated culture based on agriculture and outdoor activities. There are plenty of hikers, campers, hunters, fisherman, and other outdoorsman who flock to the state to enjoy the crisp clean air under a bright blue sky. Within its borders are entranceways to Yellowstone National Park along with The Grand Tetons National Park. The canyons, gorges, and mountains all surround the high plains creating a plateau in the state.
Because of its advantageous landscape, the tourism industry is a main cog in the economic engine of the state. In a weird twist, the federal government owns almost 50% of the land in the state, with the state government owing about 6%, making this state one of the only ones with less than 1/2 private ownership of land. Since almost 90% of the land is rural, the cattle industry is a large component of the culture and lifestyle for the residents, with a large population of self indentified cowboys roaming the plains. In addition to cattle and tourism, minerals play an important part of the economy. In recent years, Wyoming has been one of the top producers, if not the top producer, of coal in the United States. In addition, it has been in the top five in terms of production of natural gas along with crude oil.
These folks understand the need for economic stability and security At any moment the land can stop producing minerals, and the cattle can stop multiplying , leading to a devastating economic decline. If the rest of the country struggles economically, the tourism industry declines, impacting Wyoming. Because of this, the residents know wise investments are a must for their financial future. With a vast majority of the land owned by governments, making an investment in real-estate is not the smart path, as the values will never get too high. In addition, sending money to the bankers on Wall Street is not a cowboy’s idea of productivity. They live off the land and natural resources. The best solution may be to invest in gold and silver.
When making any transactions for goods, be aware that you may have to pay a tax on the purchase. Under Wyoming tax laws and regulations, www.revenue.wyo.gov, there is a state wide sales tax of 4%, with the possibility that local municipalities may add a sales tax, making the range in Wyoming between 4% and 6%. Under the law, there is no exemption for the purchase of precious metals. That means every transaction, no matter the amount, size, or shape, is subject to full sales tax.
Golden Eagle Coins, being an out of state retailer, does NOT have to charge sales tax to Wyoming residents. Browse our selection of tax-free gold and silver products. Please take note that we are not experts on tax issues, and you may be liable to pay local Use tax. Please contact your local tax professional for more information.