Number Of 'Income Millionaires' In North Dakota Grows By 81
BISMARCK, N.D. (AP) — The state Tax Department says the number of North Dakotans reporting income of more than $1 million went up 7.5 percent last year.
The agency says 1,120 North Dakota taxpayers reported adjusted gross income of more than $1 million in 2014, compared with 1,041 North Dakotans in that category in 2013.
The number of North Dakotans reporting seven-figure incomes has more than doubled since 2010. The Tax Department says the increase is largely due to payments to mineral owners by oil companies.
Figures released to The Associated Press show the average adjusted gross income in the state increased from $71,538 in 2013 to a record $73,359 last year.
The number of returns rose from 466,256 in 2013 to 486,311 last year.
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