States with the Most People Earning $1 Million or More
Just 11 people in the U.S. earned an average of over $1 billion a year, from 2015 to 2018, including Microsoft co-founder Bill Gates, Bloomberg co-founder Michael Bloomberg, and WhatsApp co-founder Jan Koum. But a considerably higher number of people land in the millionaire club.
Stacker examined tax return data from the Internal Revenue Service to see which states had the highest share of people with an adjusted gross income of $1 million or more in 2019, the latest data available. This analysis used individual income tax returns filed between January and December 2020, from all 50 states and the District of Columbia.
Across the nation, more than half a million Americans had an adjusted gross income of $1 million or more. That's about 0.35% of all Americans who filed their income tax. However, the data does not represent the entire population of the U.S., since many people do not need to file an individual income tax return.
Washington D.C. had the highest rate of residents earning $1 million or more in 2019, and West Virginia had the lowest rate. The states with more top earners tend to be on the coasts, which also have a higher cost of living, while states with the lowest rates are in the South. To learn more about where the most million-dollar earners live in the U.S., keep reading.
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Andriy Blokhin // Shutterstock
#51. West Virginia
– Total tax returns filed: 781,130
– Returns with an adjusted gross income of $1M or more: 770
– Rate of $1M+ earners: 9.9 out of 10,000 returns
Kimberly Gazda // Shutterstock
#50. Mississippi
– Total tax returns filed: 1,280,630
– Returns with an adjusted gross income of $1M or more: 1,490
– Rate of $1M+ earners: 11.6 out of 10,000 returns
Roschetzky Photography // Shutterstock
#49. New Mexico
– Total tax returns filed: 962,880
– Returns with an adjusted gross income of $1M or more: 1,360
– Rate of $1M+ earners: 14.1 out of 10,000 returns
Thomas Kelley // Shutterstock
#48. Kentucky
– Total tax returns filed: 1,967,010
– Returns with an adjusted gross income of $1M or more: 3,110
– Rate of $1M+ earners: 15.8 out of 10,000 returns
shuttersv // Shutterstock
#47. Arkansas
– Total tax returns filed: 1,288,700
– Returns with an adjusted gross income of $1M or more: 2,100
– Rate of $1M+ earners: 16.3 out of 10,000 returns
Jaclyn Vernace // Shutterstock
#46. Maine
– Total tax returns filed: 677,780
– Returns with an adjusted gross income of $1M or more: 1,170
– Rate of $1M+ earners: 17.3 out of 10,000 returns
EpicStockMedia // Shutterstock
#45. Hawaii
– Total tax returns filed: 714,760
– Returns with an adjusted gross income of $1M or more: 1,270
– Rate of $1M+ earners: 17.8 out of 10,000 returns
Florida Chuck // Shutterstock
#44. Iowa
– Total tax returns filed: 1,489,460
– Returns with an adjusted gross income of $1M or more: 2,650
– Rate of $1M+ earners: 17.8 out of 10,000 returns
Brad Whitsitt // Shutterstock
#43. Indiana
– Total tax returns filed: 3,216,370
– Returns with an adjusted gross income of $1M or more: 6,020
– Rate of $1M+ earners: 18.7 out of 10,000 returns
Brett Welcher // Shutterstock
#42. Alabama
– Total tax returns filed: 2,130,570
– Returns with an adjusted gross income of $1M or more: 4,140
– Rate of $1M+ earners: 19.4 out of 10,000 returns
Vineyard Perspective // Shutterstock
#41. Oklahoma
– Total tax returns filed: 1,704,060
– Returns with an adjusted gross income of $1M or more: 3,360
– Rate of $1M+ earners: 19.7 out of 10,000 returns
Henryk Sadura // Shutterstock
#40. Ohio
– Total tax returns filed: 5,758,920
– Returns with an adjusted gross income of $1M or more: 11,460
– Rate of $1M+ earners: 19.900 out of 10,000 returns
Don Landwehrle // Shutterstock
#39. Vermont
– Total tax returns filed: 331,630
– Returns with an adjusted gross income of $1M or more: 660
– Rate of $1M+ earners: 19.902 out of 10,000 returns
Allen.G // Shutterstock
#38. Alaska
– Total tax returns filed: 356,570
– Returns with an adjusted gross income of $1M or more: 750
– Rate of $1M+ earners: 21.0 out of 10,000 returns
Wangkun Jia // Shutterstock
#37. Louisiana
– Total tax returns filed: 2,049,570
– Returns with an adjusted gross income of $1M or more: 4,330
– Rate of $1M+ earners: 21.1 out of 10,000 returns
Aspects and Angles // Shutterstock
#36. Nebraska
– Total tax returns filed: 932,190
– Returns with an adjusted gross income of $1M or more: 1,980
– Rate of $1M+ earners: 21.2 out of 10,000 returns
RozenskiP // Shutterstock
#35. Missouri
– Total tax returns filed: 2,871,980
– Returns with an adjusted gross income of $1M or more: 6,160
– Rate of $1M+ earners: 21.4 out of 10,000 returns
Kevin Ruck // Shutterstock
#34. South Carolina
– Total tax returns filed: 2,356,850
– Returns with an adjusted gross income of $1M or more: 5,060
– Rate of $1M+ earners: 21.47 out of 10,000 returns
Zorro Stock Images // Shutterstock
#33. Montana
– Total tax returns filed: 529,800
– Returns with an adjusted gross income of $1M or more: 1,140
– Rate of $1M+ earners: 21.52 out of 10,000 returns
J.A. Dunbar // Shutterstock
#32. Michigan
– Total tax returns filed: 4,850,520
– Returns with an adjusted gross income of $1M or more: 10,710
– Rate of $1M+ earners: 22.1 out of 10,000 returns
Earl D. Walker // Shutterstock
#31. Wisconsin
– Total tax returns filed: 2,913,050
– Returns with an adjusted gross income of $1M or more: 6,600
– Rate of $1M+ earners: 22.7 out of 10,000 returns
Kirk Fisher // Shutterstock
#30. Idaho
– Total tax returns filed: 824,350
– Returns with an adjusted gross income of $1M or more: 1,880
– Rate of $1M+ earners: 22.8 out of 10,000 returns
Khairil Azhar Junos // Shutterstock
#29. Delaware
– Total tax returns filed: 485,490
– Returns with an adjusted gross income of $1M or more: 1,120
– Rate of $1M+ earners: 23.1 out of 10,000 returns
Steven Madow // Shutterstock
#28. Oregon
– Total tax returns filed: 2,043,210
– Returns with an adjusted gross income of $1M or more: 4,730
– Rate of $1M+ earners: 23.1 out of 10,000 returns
Wangkun Jia // Shutterstock
#27. Rhode Island
– Total tax returns filed: 551,270
– Returns with an adjusted gross income of $1M or more: 1,290
– Rate of $1M+ earners: 23.4 out of 10,000 returns
Kit Leong // Shutterstock
#26. Kansas
– Total tax returns filed: 1,367,910
– Returns with an adjusted gross income of $1M or more: 3,300
– Rate of $1M+ earners: 24.1 out of 10,000 returns
Kevin Ruck // Shutterstock
#25. North Carolina
– Total tax returns filed: 4,796,770
– Returns with an adjusted gross income of $1M or more: 12,000
– Rate of $1M+ earners: 25.0 out of 10,000 returns
Canva
#24. South Dakota
– Total tax returns filed: 436,360
– Returns with an adjusted gross income of $1M or more: 1,100
– Rate of $1M+ earners: 25.2 out of 10,000 returns
VideoFlow // Shutterstock
#23. Tennessee
– Total tax returns filed: 3,147,880
– Returns with an adjusted gross income of $1M or more: 7,970
– Rate of $1M+ earners: 25.3 out of 10,000 returns
Allison J. Hahn // Shutterstock
#22. Arizona
– Total tax returns filed: 3,288,740
– Returns with an adjusted gross income of $1M or more: 8,690
– Rate of $1M+ earners: 26.4 out of 10,000 returns
Kirkam // Shutterstock
#21. North Dakota
– Total tax returns filed: 371,950
– Returns with an adjusted gross income of $1M or more: 1,020
– Rate of $1M+ earners: 27.4 out of 10,000 returns
TZIDO SUN // Shutterstock
#20. Pennsylvania
– Total tax returns filed: 6,354,250
– Returns with an adjusted gross income of $1M or more: 17,640
– Rate of $1M+ earners: 27.8 out of 10,000 returns
Linda McKusick // Shutterstock
#19. Minnesota
– Total tax returns filed: 2,843,060
– Returns with an adjusted gross income of $1M or more: 8,240
– Rate of $1M+ earners: 28.98 out of 10,000 returns
Eduard Darchinyan // Shutterstock
#18. Georgia
– Total tax returns filed: 4,753,000
– Returns with an adjusted gross income of $1M or more: 13,790
– Rate of $1M+ earners: 29.01 out of 10,000 returns
Gary Whitton // Shutterstock
#17. Utah
– Total tax returns filed: 1,430,720
– Returns with an adjusted gross income of $1M or more: 4,160
– Rate of $1M+ earners: 29.1 out of 10,000 returns
Karen Wunderman // Shutterstock
#16. New Hampshire
– Total tax returns filed: 723,640
– Returns with an adjusted gross income of $1M or more: 2,230
– Rate of $1M+ earners: 30.8 out of 10,000 returns
tokar // Shutterstock
#15. Maryland
– Total tax returns filed: 3,047,050
– Returns with an adjusted gross income of $1M or more: 9,860
– Rate of $1M+ earners: 32.36 out of 10,000 returns
MarkVanDykePhotography // Shutterstock
#14. Virginia
– Total tax returns filed: 4,063,070
– Returns with an adjusted gross income of $1M or more: 13,170
– Rate of $1M+ earners: 32.41 out of 10,000 returns
f11photo // Shutterstock
#13. Nevada
– Total tax returns filed: 1,540,270
– Returns with an adjusted gross income of $1M or more: 5,320
– Rate of $1M+ earners: 34.5 out of 10,000 returns
amadeustx // Shutterstock
#12. Texas
– Total tax returns filed: 13,334,090
– Returns with an adjusted gross income of $1M or more: 47,940
– Rate of $1M+ earners: 36.0 out of 10,000 returns
Fio Creative // Shutterstock
#11. Illinois
– Total tax returns filed: 6,174,280
– Returns with an adjusted gross income of $1M or more: 22,480
– Rate of $1M+ earners: 36.4 out of 10,000 returns
Kristi Blokhin // Shutterstock
#10. Colorado
– Total tax returns filed: 2,872,240
– Returns with an adjusted gross income of $1M or more: 11,020
– Rate of $1M+ earners: 38.4 out of 10,000 returns
MDV Edwards // Shutterstock
#9. Washington
– Total tax returns filed: 3,757,740
– Returns with an adjusted gross income of $1M or more: 15,890
– Rate of $1M+ earners: 42.3 out of 10,000 returns
Sean Pavone // Shutterstock
#8. Florida
– Total tax returns filed: 10,636,690
– Returns with an adjusted gross income of $1M or more: 46,200
– Rate of $1M+ earners: 43.4 out of 10,000 returns
David Byron Keener // Shutterstock
#7. Wyoming
– Total tax returns filed: 280,640
– Returns with an adjusted gross income of $1M or more: 1,270
– Rate of $1M+ earners: 45.3 out of 10,000 returns
Michael Moloney // Shutterstock
#6. New Jersey
– Total tax returns filed: 4,513,410
– Returns with an adjusted gross income of $1M or more: 22,720
– Rate of $1M+ earners: 50.3 out of 10,000 returns
Sean Pavone // Shutterstock
#5. California
– Total tax returns filed: 18,638,920
– Returns with an adjusted gross income of $1M or more: 94,120
– Rate of $1M+ earners: 50.5 out of 10,000 returns
Youproduction // Shutterstock
#4. New York
– Total tax returns filed: 9,760,870
– Returns with an adjusted gross income of $1M or more: 55,100
– Rate of $1M+ earners: 56.4 out of 10,000 returns
jo Crebbin // Shutterstock
#3. Massachusetts
– Total tax returns filed: 3,486,480
– Returns with an adjusted gross income of $1M or more: 20,970
– Rate of $1M+ earners: 60.1 out of 10,000 returns
James Kirkikis // Shutterstock
#2. Connecticut
– Total tax returns filed: 1,794,020
– Returns with an adjusted gross income of $1M or more: 12,190
– Rate of $1M+ earners: 67.9 out of 10,000 returns
Andrei Medvedev // Shutterstock
#1. Washington, D.C.
– Total tax returns filed: 351,550
– Returns with an adjusted gross income of $1M or more: 2,530
– Rate of $1M+ earners: 72.0 out of 10,000 returns
