634 Millionaires In North Dakota According to Figures Requested By AP

Figures released to The Associated Press show a record 634 people reported incomes of more than $1 million on their 2011 individual tax returns. That's up from 532 in 2010.

 

 

 

 

BISMARCK, N.D. (AP) - The state Tax Department says a record number of North Dakotans reported seven-figure incomes last year, many of whom are benefiting from the state's oil bonanza.

Figures released to The Associated Press show a record 634 people reported incomes of more than $1 million on their 2011 individual tax returns. That's up from 532 in 2010.

Tax Department analyst Kathy Strombeck says the increase in the number of North Dakotans with million-dollar income comes largely from royalties paid to mineral owners by oil companies.

Tax Department records show the average adjusted gross income in the state increased from about $53,000 in 2010 to almost $61,000 last year.

 

AP

   

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