IRS Releases Report On Where America’s Millionaires Reside

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The Internal Revenue Service released a report this week stating where American’s multi-millionaires live.

The report focuses on residents with a minimum net worth of $2 million and offers the population of millionaires in a gievn state as well as their percentage proportion per each state’s total adult population.

California tops the list with 329,000 multi-millionaires, which is 1.2 percent of the state’s adult population. In terms of sheer numbers, California is far ahead of other multi-millionaire rich states like New York (160,000) and Florida (155,000)

Eight of the states with the highest number of multi-millionaires are also among the ten most populated states. Thus, high overall population seems to be indicative of high numbers of multi-millionaires.

Here are the ten states with the highest population of multi-millionaires:

1. California – 329,000 (or 1.2% of total adult population)

2. New York – 160,000 (or 1.1% of the adult population

3. Florida – 155,000 (or 1.2% of total adult population)

4. Texas – 100,000 (or 0.6% of total adult population)

5. Illinois – 83,000 (or 0.6% total adult population)

6. New Jersey – 71,000 (or 1.1% of total adult population)

7. Pennsylvania – 57,000 (or 0.6% of total adult population)

8. Massachusetts  – 51,000 (or 1% of total adult population)

9. Ohio – 50,000 (or 0.6% of total adult population)

10. Virginia – 49,000 (or 0.8% of total adult population)

Source: Elite Choice

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