Resources – SmallBusiness.com https://smallbusiness.com Small business information, insight and resources | SmallBusiness.com Sun, 04 Jul 2021 22:32:53 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.2 PayPal Launches its Feature-Rich, Small Business Friendly ‘PayPal Zettle’ | July 2021 https://smallbusiness.com/payments/paypals-zettle-a-digital/ Wed, 30 Jun 2021 18:42:23 +0000 https://smallbusiness.com/?p=42020 Today, PayPal announced the U.S. launch of PayPal Zettle, a digital point-of-sale solution that enables small businesses to sell across in-person and online channels. The latest addition to PayPal’s growing suite of omnichannel payment and commerce solutions helps small businesses adapt to meet these new customer needs, providing an integrated solution that not only helps them accept a range of payments in-person, but also helps them manage sales, inventory, reporting, and payments across channels, all in one place.

According to PayPal, PayPal Zettle, small businesses will have an integrated solution that enables them to accept a range of payments in-person with the Zettle card reader, helps them start selling online, and also helps them manage sales, inventory, reporting, and payments across channels, all in one place. PayPal Zettle will also enable businesses to leverage PayPal’s suite of payment and commerce solutions – from invoicing to PayPal’s Business Debit Mastercard. 

Partnering with PayPal for both in-person and online commerce, small businesses can offer their customers increased payment options, including credit and debit cards, PayPal and Venmo QR Codes, popular digital wallets and access to PayPal’s business lending solutions. All in-person and online sales can be easily viewed and managed through a business’s PayPal business account, and businesses will have access to their funds typically within one day. 

PayPal Zettle also offers interoperability through PayPal’s vast partner network, so businesses can easily link their PayPal Zettle accounts with their preferred e-commerce, accounting, and point-of-sale partners. PayPal Zettle is already integrated with a range of partners including BigCommerce, Lightspeed, QuickBooks Online and SalesVu, and will be integrating with additional partners in the coming weeks and months.  

“Consumers want seamless and integrated digital experiences no matter where they shop. As a result, small businesses need access to omnichannel payment and commerce tools to help them effectively compete and meet their customers wherever they are – in-person, online, and in-between,” said “We believe in the power of small businesses, and we will leverage PayPal Zettle to better serve in-person businesses and enable them to go digital seamlessly.” 

Jim Magats, SVP, Omni Payments, PayPal

PayPal Zettle is available to small businesses across the U.S. beginning today. Businesses can purchase their first PayPal Zettle card reader for $29, with additional readers available for $79. The transaction rate in the U.S. for card processing is 2.29% + $0.09 cents* at launch, and PayPal and Venmo QR Code transactions will be 1.9% + $0.10 cents* via PayPal Zettle.

*Fees are subject to change. 

]]> SBA | More Information About the Paycheck Protection Program (2) https://smallbusiness.com/covid-19/sba-more-information-about-the-paycheck-protection-program-2/ Mon, 25 Jan 2021 23:09:08 +0000 https://smallbusiness.com/?p=41663 The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Here are some of the resources and information the SBA is providing …

First Draw PPP Loans for first-time program participants

Second Draw PPP Loans began January 13, 2021 for certain businesses who have previously received a PPP loan

First Draw PPP Loans

An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
Learn more

Second Draw PPP Loans

Eligible businesses may apply for a Second Draw PPP loan.
Learn more

PPP Loan Forgiveness

Borrowers may be eligible for loan forgiveness.
Learn more

PPP Lender Information

Information and resources for lenders participating in the Paycheck Protection Program.
Learn more

PPP Data

Data and reports related to the Paycheck Protection Program.
Learn more

Apply for the Paycheck Protection Program

Find an eligible lender to apply for the Paycheck Protection Program.
FIND A LENDER
Use this SBA map

These links were supplied by the SBA. Before borrowing money from any source, seek advice from a trusted advisor with experience — preferably with the first round PPP.

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]]> SBA Adds 20 More Women’s Business Centers Across the USA https://smallbusiness.com/resources/sba-adds-20-more-womens-business-centers-across-the-usa/ Wed, 06 Jan 2021 17:57:24 +0000 https://smallbusiness.com/?p=41609

Earlier this week, (January 4, 2021), the  U.S. Small Business Administration announced the launch of 20 new Women’s Business Centers (WBC) across America.

  • The WBCs will be hosted in rural and underserved markets
  • The expansion will widen the footprint and partnership with Historically Black Colleges and Universities (HBCUs).
  • The opening of the 20 new WBCs is the largest expansion of WBCs 30-year history

“Over the past several months, we have seen Women’s Business Centers provide aid to our nation’s innovative and determined entrepreneurs, allowing countless small business owners to pivot with confidence to stay afloat during the pandemic,” said SBA Administrator Jovita Carranza. “Adding these new Women’s Business Centers to the already existing network of centers across America will boost timely resources to our nation’s female economic drivers, providing them with local training and counseling.”

The SBA WBCs is a national network of 136 centers that offers one-on-one counseling, training, networking, workshops, technical assistance, and mentoring to women entrepreneurs on numerous business development topics, including business startup, financial management, marketing, and procurement. 

The 20 new WBCs began opening on January 1, 2021, in the following states:

Alabama
Regional Economic Assistance for Communicating Hope (REACH) Catalyst Women’s Business Center – Clanton, Alabama

Arizona
Chicanos Pro La Causa, Inc. (CPLC’s) Women’s Business Center – Phoenix, Arizona

California

  • El Pajaro Regional Women’s Business Center – Monterey, Californi
  • Mission Community Women’s Business Center serving Kern County – Bakersfield, California

Georgia
Access to Capital for Entrepreneurs (ACE) Savannah Women’s Business Center – Savannah, Georgia

Maine
Coastal Enterprises, Inc. (CEI) WBC South – Portland, Maine

Mississippi
Women’s Business Center at Jackson State University (HBCU) – Jackson, Mississippi – Hinds County

Missouri
New Growth Women’s Business Center, West Central – Springfield, Missouri

Montana
Missoula Women’s Business Center – Missoula, Montana

Nebraska
GROW Nebraska Women’s Business Center (GNWBC) – Omaha, Nebraska

New York
Women’s Enterprise Development Center, WEDC Mid-Hudson Women’s Business Center – Poughkeepsie, New York

North Carolina
Winston Salem State University (WSSU) Women’s Business Center (HBCU) – Winston Salem, North Carolina

Ohio
Women’s Business Center of Central Appalachia – Portsmouth, Ohio

Pennsylvania
Women’s eBusiness Center of Excellence – Erie, Pennsylvania

Tennessee
The Women’s Business Center South – Memphis, Tennessee

South Carolina
South Carolina Women’s Business Center – Charleston, South Carolina

South Dakota
South Dakota Women’s Business Center (East) – Sioux Falls, South Dakota

Texas
Women’s Business Center of Montgomery County, East Harris County, and West Chambers County – Houston, Texas

Virginia
Women’s Business Center of Richmond – Richmond, Virginia

Wisconsin
Wisconsin Women’s Business Initiative Corporation Southwest – La Crosse, Wisconsin

To learn more about SBA’s programs and services for women entrepreneurs, visit online at www.sba.gov/women, and to find other WBC locations and SBA resources, visit www.sba.gov/local-assistance

Also on SmallBusiness.com | “U.S. Resources for Women Business Owners”

Credit: Thomas Barwick Creative GettyImages

]]> U.S. Small Business Resources for Military Veterans https://smallbusiness.com/resources/military-veterans-and-small-business/ Tue, 10 Nov 2020 11:23:00 +0000 http://smallbusiness.com/?p=12330 This is a round-up of information shared previously on SmallBusiness.com for  military veterans related to starting and running a small business. These links include resources for veterans who want to start a business or who are currently operating one. Also included is information (and encouragement) about hiring veterans as employees for your business.

8 SBA Resources to Help Veterans Start and Run a Small Business

A list of three Small Business Administration (SBA) financing programs and five other SBA resources that encourage the creation and support of veteran-owned businesses. (…)

State Government Agencies That Encourage Business Ownership by Military Veterans

In addition to federal government and private programs related to supporting military veterans who are business owners, most states have offices or agencies that help veterans access their benefits, run programs related to the employment of veterans, and encourage business ownership by military veterans. Here is a list to links to those state agencies.(…)

5 Reasons Small Businesses Should Hire 1 Million Veterans

If every small business in America that has between 10 and 99 employees were to make it a priority to look for a veteran when filling their next position, every veteran would have a job and businesses would have great employees. (…)

Resources That Help Small Businesses Find and Hire Veterans

These resources and initiatives–governmental, non-profits, and even a veteran-run startup company–can help you learn more about hiring veterans, and even help you find a perfect one for your company.(…)

These 10 Fastest-Growing Military Towns Are Helping Grow Small Businesses

Throughout the United States, veterans and active-duty military personnel play an important role in stimulating local economies. But for some cities, the military can be the biggest employer in town. Here are the 10 fastest-growing military towns in America, the home to many small businesses that serve those who serve the nation. (…)

]]> State-by-State Listing of COVID-19 Resources https://smallbusiness.com/covid-19/state-by-state-listing-of-covid-19-resources/ Tue, 16 Jun 2020 15:50:17 +0000 https://smallbusiness.com/?p=41081

Each state has its own unique listing of COVID-19 rules, policies, resources, and state-by-state news and information. Note: This list is not definitive, official, or endorsed by SmallBusiness.com. (Last updated on June 16, 2020.)

Alabama 

Alaska 

Arizona 

Arkansas 

California 

Colorado 

Connecticut 

Delaware 

Florida 

Georgia 

Hawaii 

Idaho 

Illinois 

Indiana 

Iowa 

Kansas 

Kentucky 

Louisiana 

Maine 

Maryland 

Massachusetts 

Michigan 

Minnesota 

Mississippi 

Missouri 

Montana 

Nebraska 

Nevada 

New Hampshire 

New Jersey 

New Mexico 

New York

North Carolina 

North Dakota 

Ohio 

Oklahoma 

  • Oklahoma State Department of Health – sign up for e-mail updates at: 
    https://coronavirus.health.ok.gov/ 
  • COVID-19 Call Center operating 24/7:  Telephone Numner:877-215-8336 or dial 2-1-1 
  • Accessibility Questions: If you need alternate formats of the website to meet your accessibility needs, or you have difficulty viewing any content on the OSDH Web site with assistive technology, please send your request to webmaster@health.ok.gov. 

Oregon 

Pennsylvania 

Puerto Rico 

Rhode Island 

South Carolina 

South Dakota 

Tennessee 

Texas 

US Virgin Islands 

Utah 

Vermont

Virginia 

Washington 

West Virginia 

Wisconsin 

Wyoming

Note: This list is not definitive, official, or endorsed by SmallBusiness.com.

These lists can change as information is added or removed. (Last updated June 16, 2020)

]]> What the IRS Wants You to Know About Excise Taxes https://smallbusiness.com/resources/excise-tax-information/ Fri, 01 Nov 2019 03:11:11 +0000 https://smallbusiness.com/?p=40452

Businesses providing certain goods and services that are subject to excise taxes must file a federal Form 720 quarterly. Here is information provided by the IRS that relates to excise taxes.

What are excise taxes?

Excise taxes are taxes made on a specific good, such as gasoline, rather than a tax on your income or sales tax. They are often included in the price of the product you are purchasing. For example, excise taxes (or highway taxes, in this example) are part of the price per gallon charged for gasoline. They can also be taxes on activities, such as wagering (gambling), indoor tanning, airline tickets, and tires.

Excise taxes may be imposed at the time of:..

  • Import
  • Sale by the manufacturer
  • Sale by the retailer
  • Use by the consumer

Often, the collected excise tax will go into trust funds earmarked for related capital projects, such as highway and airport improvements.

Since the taxes are typically blended into the price of a product, the seller or manufacturer of the item or service is responsible for filing these tax payments to the IRS — and filing Form 720.

When should an excise a tax be file?

Businesses must file the form for each quarter of the calendar year. Here are the due dates:

  • Quarter 1 – January, February, March: Deadline = April 30
  • Quarter 2 – April, May, June: Deadline = July 31
  • Quarter 3 – July, August, September: Deadline = October 31
  • Quarter 4 – October, November, December: Deadline = January 31

If the due date for filing a return falls on a Saturday, Sunday or legal holiday, the due date is the next business day.

How to file

While the IRS still accepts paper Forms 720, they encourage businesses to file electronically. To help excise taxpayers do this, the IRS posts the contact information on IRS.gov of all approved e-file transmitters for excise forms. Businesses can submit forms online 24 hours a day.

However, not all excise forms can be filed electronically. Here are the forms you can file electronically.

  • Form 720, Quarterly Federal Excise Tax.
  • Form 2290, Heavy Highway Vehicle Use Tax.
  • Form 8849, Claim for Refund of Excise Taxes, Schedules 1, 2, 3, 5, 6 and 8.

When businesses file a Form 720 electronically, it reduces processing time and errors. However, the business taxpayer’s provider will typically charge a filing fee. In other words, there’s an excise tax on filing an excise tax.

More information:

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]]> U.S. Resources for Women Business Owners https://smallbusiness.com/resources/resources-women-business-owners/ Fri, 08 Mar 2019 11:25:02 +0000 http://smallbusiness.com/?p=19422

The vast majority of information and resources for starting and operating a business is helpful for any type of potential or existing small business owner, regardless of how we’re different. Yet, as we’re exploring the U.S. resources for various types of small business owners, we are reminded of the ways we need to break down historic barriers and encourage business development where opportunities have not always existed. Recognizing those needs exist, the United States has created a network of resources to address the unique needs, challenges and opportunities of emerging entrepreneurs. These resources seek to “level the playing field” for women business owners, who still face unique obstacles.

As part of our recognition of International Women’s Day, March 8, 2019, we’re sharing this directory of U.S. resources for women business owners.

SBA Office of Women’s Business Ownership

The mission of the Small Business Administration’s (SBA) Office of Women’s Business Ownership is to enable and empower women entrepreneurs through advocacy, outreach, education and support.

On the web: Office of Women’s Business Ownership 

Women’s Business Centers

Supported by the SBA, Women’s Business Centers (WBCs) represent a national network of more than 100 educational centers throughout the United States and its territories. These centers are designed to assist women in starting and growing small businesses. The SBA’s Office of Women’s Business Ownership (OWBO) oversees the WBC network, which provides women business owners (especially women who are economically or socially disadvantaged) comprehensive training and counseling on a variety of topics in several languages.

Directory of Local Business Centers

 National Women’s Business Council

The National Women’s Business Council (NWBC) is a federal advisory council created to serve as an independent source of advice and counsel to the President, Congress and the U.S. Small Business Administration on economic issues of importance to women business owners. The council’s mission is to promote bold initiatives, policies and programs designed to support women’s business enterprises at all stages of development in the public and private sector—from start-up to success to significance.

On the web: National Women’s Business Council

Related Organizations

These non-government organizations extend the network and resources of the SBA through idea-exchange and the support of volunteers and the private sector.

Association of Women’s Business Centers

Provides women business owners and entrepreneurs with a variety of support and services, including help in securing rounds of venture capital.

National Association of Women Business Owners

Provides information on an association committed to helping women entrepreneurs become effective in economic, social and political spheres of power.

Score

Free and confidential business advice from mentors, both online and in-person.

]]> By the Numbers: U.S. Veteran-Owned Businesses | 2020 https://smallbusiness.com/resources/military-owned-businesses/ Thu, 08 Nov 2018 14:36:01 +0000 https://smallbusiness.com/?p=29807

As we’ve  often shared, military veterans can be great employees–and great owners–of small businesses. The following statistics related to U.S military veterans who own businesses were issued by the U.S. Small Business Administration’s Office of Advocacy in April 2017. The source of the data is the most recent U.S. Census Bureau’s Survey of Business Owners conducted in 2012. That survey had 80 sets of data containing veteran-related information released in December 2015 and February 2016. The complete study and sources can be found in this PDF.

Overview of  veteran-owned businesses

2.52 million |  Businesses in the U.S. that are majority-owned by veterans

442,485 | Veteran-owned businesses with employees
2.08 million | Self-employed veteran businesses (no employees)

9.1% | Percentage of all U.S. businesses that are majority-owned by veterans

$1.14 trillion | Total annual revenues of veteran-owned businesses
5.03 million | Total number of employees of veteran-owned businesses
$195 billion | Annual payroll of veteran-owned businesses

Ranking of industries for veteran-owned businesses

The top seven industries for veteran-owned firms as a percentage of all veteran-owned businesses.

16.6% | Professional, scientific, and technical services
12.2% | Construction
11.8% | Other services
8.6%  | Real estate
8.1% | Retail trade
8.1% | Retail trade
8.0% | Administrative and support

Industries with the highest percentage of veteran-owned businesses

While 9.1 percent of all U.S. businesses are veteran-owned, the percentage of veteran-owned businesses varies by industry.

12.8% | Finance and insurance (Percentage of industry businesses owned by veterans)
12.1% | Transportation and warehousing
11.4% | Construction
11.3% | Agriculture, forestry and fishing
10.9% | Utilities
10.8% | Professional, scientific, and technical services
10.2% | Manufacturing

video via YouTube

Veteran-owned firms by gender

84.3% | Male veteran-owned businesses
15.2% | Female veteran-owned businesses

Veteran-owned firms by owners’ race or ethnicity

Multiple categories could be chosen. Self-identified answer.

85.1% | White
10.7% | African American
7% | Hispanic
2.1% | Asian American
1.3% | American Indian or Alaska Native
.3% | Native Hawaiian or other Pacific Islander

States with most veteran-owned businesses

252,377 | California
213,590 |  Texas
185,756 | Florida
137,532 | New York
97,969 | Pennsylvania

States where the highest percentage of all businesses are veteran-owned 

13% | South Carolina
12.2% |  New Hampshire
11.7% | Virginia
11.7% | Alaska
11.4% | Mississippi

Who are the major customers of veteran-owned small businesses?

Major customers are those who account for 10 percent or more of a firm’s sales.

67.6% | Consumers
37.9% | Businesses
5.1% | State and local governments
3.2% | Federal government

Age

Veteran business owners are older than business owners in general.

74% | 55 years old and over (veteran-owned business)
41% | 55 years old and over (“all owners”)

11.7% | Under 45 years old (veteran-owned business)
32.5% | Under 45 years old (“all owners”)

3.4% | Under 35 years old (veteran-owned business)
13.5% | Under 35 years old (“all owners”)

 

Method of  veteran-owned business startup

85.3%  | Founded (not purchased or inherited) their self-employed business
74.3% | Founded (not purchased or inherited) their business with employees

10.8% | Owners who purchased their businesses
2.7% | Inherited their businesses
2.8% | Acquired their ownership by transfer or as gift

Full Report (PDF) | Veteran-Owned Businesses and Their Owners, Data from the U.S. Census Bureau’s Survey of Business Owners

Photo: istock

]]> Native American Small Business Resources https://smallbusiness.com/resources/native-american-small-business-resources/ Mon, 08 Oct 2018 10:00:59 +0000 http://smallbusiness.com/?p=12003

In addition to the U.S. federal holiday Columbus Day, some U.S. cities are beginning to use today to observe “Indigenous People’s Day,” according to CNN. Because at SmallBusiness.com, every day is Small Business Day, we’re happy also to point to these resources for native American small business owners and those who are considering starting a business. (Update, October 8, 2018)

The Office of Native American Affairs

Housed within the U.S. Small Business Administration, its mission is to ensure that American Indians, Native Alaskans and Native Hawaiians seeking to create, develop and expand small businesses have full access to the necessary business development and expansion tools available through the Agency’s entrepreneurial development, lending and procurement programs.

National Center for American Indian Enterprise Development

The National Center for American Indian Enterprise Development (NCAIED) is a 501(c)(3) non-profit organization. Its mission is “to develop and expand an American Indian private sector which employs Indian labor, increases the number of viable tribal and individual Indian businesses, and positively impacts and involves reservation communities, by establishing business relationships between Indian enterprises and private industry.”

SBA Learning Center: Native American Business Primer

An online course designed to assist Native peoples who’re thinking about starting a business, or who’re in the early stages of starting a business.

First Nations Development Institute

The First Nations Development Institute is a non-profit organization that “invests in and creates innovative institutions and models that strengthen asset control and support economic development for American Indian people and their communities.”

American Indian Business Leaders

The AIBL is a non-profit organization dedicated to empowering business students. Its programs are designed to engage students in activities that stimulate, enhance, and expand educational experiences beyond traditional academic methods.

]]> Ranking of States With Highest Percentage of Millionaire Households | 2018 https://smallbusiness.com/marketing/millionaire/ Thu, 26 Jul 2018 14:47:25 +0000 https://smallbusiness.com/?p=32286  

Inflation has lowered the value of a million dollars over the past several decades. Still, only 5.8% of American households qualify as millionaires, according to Kiplinger and Phoenix Marketing International. Their ranking of states with the highest percentage of millionaire residents per thousand households (see below) is measured by the number of people with investable assets of $1 million or more, excluding the value of real estate, employer-sponsored retirement plans and business partnerships.

Sources:

  • Household income and home value from U.S. Census Bureau.
  • Living costs based on the Council for Community, Economic Research’s Cost of Living Index.
  • Tax information is from 2017.

Percentage of millionaire households per thousand.

Ranking of states’ density of millionaires (lowest to highest).

51 | Mississippi

Millionaire households | 45,771
Total households | 1,134,578
Concentration of millionaires | 4.03%
Median income for all households | $40,528 (U.S. median: $55,322)
Median home value | $105,700 (U.S. median: $184,700)

50 | West Virginia

Millionaire households | 32,082
Total households | 763,797
Concentration of millionaires | 4.20%
Median income for all households | $42,644
Median home value | $107,400

49 | Arkansas

Millionaire households |  50,106
Total households | 1,178,438
Concentration of millionaires | 4.25%
Median income for all households | $42,336
Median home value | $114,700

48 | Kentucky

Millionaire households | 79,205
Total households | 1,768,852
Concentration of millionaires | 4.48%
Median income for all households | $44,811
Median home value | $126,100

47 | Alabama

Millionaire households | 88,880
Total households | 1,928,669
Concentration of millionaires | 4.61%
Median income for all households | $44,758
Median home value | $128,500

46 | Tennessee

Millionaire households | 122,585
Total households | 2,625,681
Concentration of millionaires | 4.67%
Median income for all households | $46,574
Median home value | $146,000

45 | Idaho

Millionaire households | 30,110
Total households | 625,834
Concentration of millionaires | 4.81%
Median income for all households | $49,174
Median home value | $167,900

44 | South Carolina

Millionaire households | 94,675
Total households | 1,960,255
Concentration of millionaires | 4.83%
Median income for all households | $46,898
Median home value | $143,600

43 | Louisiana

Millionaire households | 88,371
Total households | 1,818,504
Concentration of millionaires | 4.86%
Median income for all households | $45,652
Median home value | $148,300

42 | North Carolina

Millionaire households | 196,094
Total households | 4,019,126
Concentration of millionaires | 4.88%
Median income for all households | $48,256
Median home value | $157,100

41 | New Mexico

Millionaire households | 40,031
Total households | 810,609
Concentration of millionaires | 4.94%
Median income for all households | $45,674
Median home value | $161,600

40 | Montana

Millionaire households | 21,953
Total households | 441,222
Concentration of millionaires | 4.98%
Median income for all households | $48,380
Median home value | $199,700

39 | Oklahoma

Millionaire households | 76,819
Total households | 1,543,599
Concentration of millionaires | 4.98%
Median income for all households | $48,038
Median home value | $121,300

38 | Indiana

Millionaire households | 128,600
Total households | 2,575,466
Concentration of millionaires | 4.99%
Median income for all households | $50,433
Median home value | $126,500

37 | Missouri

Millionaire households | 122,323
Total households | 2,439,229
Concentration of millionaires | 5.01%
Median income for all households | $49,593
Median home value | $141,200

36 | South Dakota

Millionaire households | 17,772
Total households | 349,397
Concentration of millionaires | 5.09%
Median income for all households | $52,078
Median home value | $146,700

35 | Nevada

Millionaire households | 56,452
Total households | 1,096,916
Concentration of millionaires | 5.15%
Median income for all households | $53,094
Median home value | $191,600

34 | Maine

Millionaire households | 29,301
Total households | 565,293
Concentration of millionaires | 5.18%
Median income for all households | $50,826
Median home value | $176,000

33 | Ohio

Millionaire households | 243,118
Total households | 4,685,647
Concentration of millionaires | 5.19%
Median income for all households | $50,674
Median home value | $131,900

32 | Georgia

Millionaire households | 200,395
Total households | 3,854,460
Concentration of millionaires | 5.20%
Median income for all households | $51,037
Median home value | $152,400

31 | Florida

Millionaire households | 427,824
Total households | 8,173,428
Concentration of millionaires | 5.23%
Median income for all households | $48,900
Median home value | $166,800

30 | Arizona

Millionaire households | 137,359
Total households | 2,595,635
Concentration of millionaires | 5.29%
Median income for all households | $51,340
Median home value | $176,900

29 | Michigan

Millionaire households | 210,957
Total households | 3,939,976
Concentration of millionaires | 5.35%
Median income for all households | $50,803
Median home value | $127,800

28 | Wisconsin

Millionaire households | 127,260
Total households | 2,354,510
Concentration of millionaires | 5.40%
Median income for all households | $167,000
Median home value | $54,610

27 | Kansas

Millionaire households | 62,168
Total households | 1,144,287
Concentration of millionaires | 5.43%
Median income for all households | $53,571
Median home value | $135,300

26 | Nebraska

Millionaire households | 41,348
Total households | 760,510
Concentration of millionaires | 5.44%
Median income for all households | $54,384
Median home value | $137,300

25 | Oregon

Millionaire households | 89,383
Total households | 1,639,493
Concentration of millionaires | 5.45%
Median income for all households | $53,270
Median home value | $247,200

24 | Iowa

Millionaire households | 71,212
Total households | 1,270,566
Concentration of millionaires | 5.60%
Median income for all households | $54,570
Median home value | $132,800

23 | Texas

Millionaire households | 566,578
Total households | 10,005,417
Concentration of millionaires | 5.66%
Median income for all households | $54,727
Median home value | $142,700

22 | Pennsylvania

Millionaire households | 294,002
Total households | 5,099,166
Concentration of millionaires | 5.77%
Median income for all households | $54,895
Median home value | $167,700

21 | Vermont

Millionaire households | 15,363
Total households | 261,095
Concentration of millionaires | 5.88%
Median income for all households | $56,104
Median home value | $218,900

20 | North Dakota

Millionaire households | 19,662
Total households | 327,536
Concentration of millionaires | 6.0%
Median income for all households | $59,114
Median home value | $164,000

19 | Utah

Millionaire households | 59,390
Total households | 978,826
Concentration of millionaires | 6.07%
Median income for all households | $62,518
Median home value | $224,600

18 | Illinois

Millionaire households | 300,142
Total households | 4,886,159
Concentration of millionaires | 6.14%
Median income for all households | $59,196
Median home value | $174,800

17 | New York

Millionaire households | 465,479
Total households | 7,568,120
Concentration of millionaires | 6.15%
Median income for all households | $60,741
Median home value | $286,300

16 | Rhode Island

Millionaire households | 26,032
Total households | 418,815
Concentration of millionaires | 6.22%
Median income for all households | $58,387
Median home value | $238,200

15 | Wyoming

Millionaire households | 14,989
Total households | 240,378
Concentration of millionaires | 6.24%
Median income for all households | $59,143
Median home value | $199,900

14 | Colorado

Millionaire households | 143,564
Total households | 2,217,977
Concentration of millionaires | 6.47%
Median income for all households | $62,520
Median home value | $264,600

13 | Washington

Millionaire households | 186,396
Total households | 2,865,392
Concentration of millionaires | 6.51%
Median income for all households | $62,848
Median home value | $269,300

12 | Minnesota

Millionaire households | 144,944
Total households | 2,206,236
Concentration of millionaires | 6.57%
Median income for all households | $63,217
Median home value | $191,500

11 | District of Colombia

Millionaire households | 20,534
Total households | 312,546
Concentration of millionaires | 6.57%
Median income for all households | $72,935
Median home value | $506,100

10 | California

Millionaire households | 885,225
Total households | 13,384,483
Concentration of millionaires | 6.61%
Median income for all households | $63,783
Median home value | $409,300

9 | Delaware

Millionaire households | 24,212
Total households | 365,666
Concentration of millionaires | 6.62%
Median income for all households | $61,017
Median home value | $233,100

8 | Virginia

Millionaire households | 226,167
Total households | 3,242,493
Concentration of millionaires | 6.98%
Median income for all households | $66,149
Median home value | $248,400

7 | New Hampshire

Millionaire households | 39,209
Total households | 532,376
Concentration of millionaires | 7.36%
Median income for all households | $68,485
Median home value | $239,700

6 | Massachusetts

Millionaire households | 198,750
Total households | 2,682,402
Concentration of millionaires | 7.41%
Median income for all households | $70,954
Median home value | $341,000

5 | Alaska

Millionaire households | 20,444
Total households | 272,496
Concentration of millionaires | 7.50%
Median income for all households | $74,444
Median home value | $257,100

4 | Hawaii

Millionaire households | 36,903
Total households | 487,708
Concentration of millionaires | 7.57%
Median income for all households | $71,977
Median home value | $538,400

3 | Connecticut

Millionaire households | 106,892
Total households | 1,379,979
Concentration of millionaires | 7.75%
Median income for all households | $71,755
Median home value | $269,300

2 | New Jersey

Millionaire households | 258,988
Total households | 3,294,365
Concentration of millionaires | 7.86%
Median income for all households | $73,702
Median home value | $316,400

1 | Maryland

Millionaire households | 178,003
Total households | 2,263,021
Concentration of millionaires | 7.87%
Median income for all households | $76,067
Median home value | $290,400

Sources:

  • Household income and home value from U.S. Census Bureau.
  • Living costs based on the Council for Community, Economic Research’s Cost of Living Index.
  • Tax information is from 2017.

 

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