BISMARCK, N.D. (AP) — "The number of North Dakotans reporting seven-figure incomes is swelling and incomes across the state are rising, spurred largely by wealth gained from the state's oil patch, the state Tax Department said. Figures released to The Associated Press show 532 people reported adjusted gross income of more than $1 million on their 2010 individual tax returns, compared to 384 reporting that income on their 2009 returns, a 38.5 percent increase.
Tax Department analyst Kathy Strombeck said the increase in the number of North Dakotans with million-dollar income comes in part from royalties paid to mineral owners by oil companies. Tax Department records show the average adjusted gross income in the state increased from $46,860 in 2009 to $53,036 last year. State officials say the oil industry has helped bump wages throughout the state and created hundreds of high-paying jobs."
MP: More evidence that the domestic oil production in the Bakken shale oil fields is creating millionaires, wealth, prosperity, jobs, higher wages, and even increased tax revenues in the economic miracle of North Dakota, America's most successful state.
Tax Department analyst Kathy Strombeck said the increase in the number of North Dakotans with million-dollar income comes in part from royalties paid to mineral owners by oil companies. Tax Department records show the average adjusted gross income in the state increased from $46,860 in 2009 to $53,036 last year. State officials say the oil industry has helped bump wages throughout the state and created hundreds of high-paying jobs."
MP: More evidence that the domestic oil production in the Bakken shale oil fields is creating millionaires, wealth, prosperity, jobs, higher wages, and even increased tax revenues in the economic miracle of North Dakota, America's most successful state.
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