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Published November 20, 2013, 11:54 AM

Number of North Dakota millionaires jumps

BISMARCK, N.D. (AP) — The state Tax Department says the number of people reporting seven-figure incomes in oil-rich North Dakota nearly doubled last year, and residents' average incomes rose 22 percent to an all-time high.

BISMARCK, N.D. (AP) — The state Tax Department says the number of people reporting seven-figure incomes in oil-rich North Dakota nearly doubled last year, and residents' average incomes rose 22 percent to an all-time high.

Figures released to The Associated Press show 1,126 people reported incomes of more than $1 million on their 2012 individual tax returns. That's up from 634 in 2011.

Tax Department records show the average adjusted gross income in the state increased from $60,947 in 2011 to $74,221 last year.

Deputy Tax Commissioner Ryan Rauschenberger says North Dakota has jumped from 38th in the nation in per capita personal income in 2006 to sixth highest in 2012.

Rauschenberger says the increase in the number of so-called income millionaires is largely due to payments to mineral owners by oil companies.

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