Wyoming and South Dakota Lead in High-Income Earners Based on 2023 Federal Tax Data

Rapid City, SD, October 12, 2026 — According to a recent analysis of federal tax data from 2023, Wyoming and South Dakota have emerged as states with a significant proportion of residents reporting high annual incomes. The data suggests these two states are among those with the highest likelihood of individuals earning $1 million or more each year.

Wyoming was identified as ranking eighth nationally in the likelihood of its residents reporting an annual income of at least $1 million. This places the state among the top ten in the country for this financial metric.

South Dakota also featured prominently in the analysis, securing the fourteenth position nationally. This ranking indicates a substantial presence of high-income earners within the state’s population as well.

The analysis is based on federal tax filings from the 2023 fiscal year. Specific details regarding the methodology of the analysis, such as the exact number of taxpayers or the precise income thresholds used beyond the $1 million benchmark, were not provided in the summary. Additionally, the report did not specify the exact income figures or the percentage of the population earning $1 million or more in either state, only their relative national rankings.

This trend highlights potential economic indicators for these states, suggesting a concentration of wealth among a segment of their populations. Further details on the demographic or economic factors contributing to these rankings were not included in the available information.

Story summarized from the original created by Tamara Chibe on www.kotatv.com, see more information here.

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