Number of North Dakota ‘income millionaires’ declines

BISMARCK, N.D. (AP) — Fewer North Dakotans are reporting seven-figure incomes due to a prolonged slump in agriculture and energy prices, the state’s tax commissioner says.

Figures released to The Associated Press show 686 people reported incomes of more than $1 million on their 2016 individual tax returns, a drop of nearly 40 percent from the record 1,120 people in 2014 when the state’s oil boom was at its zenith.

Data show 950 North Dakotans reporting income of more than $1 million in 2015.