News Story

Number of Michigan Millionaires Grows 25-Fold

In 2005, just 573 of Michigan's personal income tax returns reported more than $1 million in adjusted gross income. Income taxes paid by the millionaires were 0.3 percent of the total income tax paid in the state. In 2014, there were 14,428 returns reporting more than $1 million in adjusted gross income, and together, they paid 9.1 percent of the total state income tax.

Michigan Capitol Confidential is the news source produced by the Mackinac Center for Public Policy. Michigan Capitol Confidential reports with a free-market news perspective.