By PBN Staff
WASHINGTON – The number of high-income taxpayers in Rhode Island grew 63 percent from 1999 to 2009, according to a new report from the Tax Foundation.
The number of Rhode Island taxpayers earning over $200,000 – minus the percentage growth of all taxpayers – grew from 7,616 in 1999 to 12,416 in 2009.
Rhode Island ranked 18th in the country for its increase in high-income taxpayers.
Comparatively, North Dakota took the top spot with an increase of 144.53 percent and Michigan ranked last with an increase of only 17.6 percent.
Massachusetts ranked 24th for growth nationally, with a 58.5 percent increase in high-income taxpayers over the 10-year period.
Overall, Rhode Island saw a 4.2 percent growth in all tax returns filed between 1999 and 2009. In 2009, 501,586 Rhode Islanders filed tax returns, up from 481,564 in 1999.
To view the full report, visittaxfoundation.org.