So many people dream of being a millionaire. But hitting those 7 digits in your bank account/stock portfolio isn’t easy. And maintaining that wealth once you have it, it’s even trickier. But in North Carolina, we are seeing higher-than-average growth in the number of millionaires in our state. So the dream is achievable. This data was reported this week by BizJournals, which states that “the number of American tax filers earning at least $1 million has surged over the past five years.” Their data comes from the IRS and is based on the number of tax filers reporting a gross income of over $1,000,000. This includes single filers, married couples filing jointly, and households.
The data collected accounts for the period of time between 2015-2020. Nationally BizJournals reports that we added 170,170 million-dollar earners between 2015 and 2020. This brings the total to 608,540. While that number may look large it’s only 0.37% of all tax filers in the U.S. Keep reading to see the top 10 states and how many new millionaires North Carolina has seen. You can read the full study and analysis by BizJournals here.