And don't forget that between living costs and taxes, a million dollars goes much further in some states than others. In 2010, after dozens of major companies failed and America landed in one of the worst recessions in its history, Georgia had 156,94 millionaire households, for a ratio to total households of 4.31 percent. The Palmetto State extends some real Southern hospitality, offering a charming collection of income tax breaks. Wherever they have traveled, they have made an impact. All rights reserved. Although Virginia's D.C. suburbs are among the more expensive places to live in the U.S., the state as a whole isn't unaffordable. The Volunteer State has no broad-based income tax. Also like Connecticut, the Garden State is pricey and taxes are high. Here are nine of the best stocks for rising interest rates. Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University. Indeed, North Carolina's 3,490 chief executives have an average salary of $206,390, according to the Bureau of Labor Statistics. Millionaires in America 2020: All 50 States Ranked - Yahoo Finance Once upon a time before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. Illinois has a higher concentration of millionaires than the national average, and a million bucks goes a bit farther in the Prairie State than it does in much of the rest of the country. It's one of five states without a general sales tax, and it has relatively low property taxes. Less sunny is the fact that the North Star State hits hard with income tax. 1. And thanks to abundant revenue that the state collects from oil and mineral rights, Wyoming millionaires shoulder one of the lowest tax burdens in the U.S. With no income tax, it's No. Property taxes are low and sales taxes average. Cathy is theson of Truett Cathy, the founder of Chick-fil-A. Georgian Billionaires Forbes Georgia While many of its residents are moderately wealthy, the Bay State is also home to some of the richest people in America, including billionaires Abigail Johnson, the CEO of mutual fund corporation Fidelity Investments, and Robert Kraft, CEO of Kraft Group and the owner of the New England Patriots NFL team. Indeed, Maine is one of Kiplinger's least tax-friendly states. It's one of just a handful of U.S. states with a flat tax, but 23 cities levy income taxes as well. Living costs are based on the Council for Community and Economic Researchs Cost of Living Index and the U.S. Bureau of Economic Analysis.

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