Montana has for a few decades become a rich persons playground. There is no shortage of stories in the last few years about the wealthy coming in and buying a huge tracts of land. It might surprise you to learn then that there really aren't that many millionaires living in Montana.

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One reason that Montana ranks so low on the list of millionaires in each state, is I would assume, they don't claim Montana as their primary residence. That means they aren't filing their taxes in the state.

That's how Stacker came up with the list of how many millionaires live in each state. They went through tax return data from the Internal Revenue Service to see how many people had an adjustable gross income of over 1 million dollars in 2019, which was the latest data available.


When it comes to actual people living and working in Montana that make the millionaires list, there really isn't that many. A majority of the people that come and buy ranches and vacation homes, don't actually make their living here. They may live here more than they don't, but they file taxes in another state.

Across America just above 500,000 people had an adjustable gross income of more than 1 million dollars. That accounts for only 0.35% of the population that had to file taxes. The gallery below lists all 50 states along with Washington DC as far as how many millionaires you'll find there. West Virginia ranks last while Washington DC ranks first. So scroll through and see where Montana ranks when it comes to millionaires living in the Big Sky.

LOOK: States with the most people earning $1 million or more

Stacker examined Internal Revenue Service tax return data to see which states had the highest share of people who earned $1 million or more in 2019.

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Stacker compiled a list of the 25 wealthiest people in the country and how they've maintained their fortune.

LOOK: 25 richest families in America

To find out which clans hold the most wealth, Stacker compiled a list of the 25 richest families in America using 2020 data from Forbes.

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