| ND `Income Millionaires` Up 18.5 Percent |
| 11/3/2009 |
| The state Tax Department says the number of North Dakotans reporting income of more than $1 million went up 18.5 percent in the last year. The agency says 473 North Dakota taxpayers reported adjusted gross income of more than $1 million, compared with 399 North Dakotans in that category in 2007. In 2006, there were 339 income millionaires in North Dakota, up from 266 in 2005. Tax Department analyst Kathy Strombeck says the income jump 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 $48,590 on 2007 tax returns to $50,781 last year. The number of returns rose from about 347,000 in 2007 to 352,335 last year. |
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