Families in the Top 10 Percent of Income Earn at Least
While income inequality is a primal component of the U.S. backer economy, a recent poll conducted by the Pew Research Center establish that 61% of Americans call back that it has gone as well far. Today, the top 1% of earners in the U.s. business relationship for about 20% of the country'due south total income annually. Meanwhile, the everyman-earning quarter of Americans account for just iii.vii% of income every year.
Nationwide, it takes an annual income of $538,926 to be among the acme i%. Amidst the approximately 1.4 million taxpayers who meet this threshold, the average annual income is most $1.7 million – about 20 times the average income of $82,535 among all taxpayers. Wealth, however, is far more than concentrated in certain parts of the state than in others, and as a upshot, the amount it takes to be among the top i% in each land varies considerably.
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Using adjusted gross income percentile data for the 2017 tax year from the IRS, 24/vii Wall St. determined how much you demand to make to be in the one% in every country. All data is derived from federal 1040 individual tax returns and is inflation adapted for 2019. The annual income flooring needed to exist in the ane% ranges from less than $350,000 in some states to well more than double that in others.
Across populations, incomes tend to rise with educational attainment. As a result, incomes tend to be higher in states that are home to a big share of college educated adults. Indeed, many of the all-time-educated states are as well those with the highest income threshold to be amidst the summit 1% of earners. Here is a consummate list of America'due south most and least educated states.
Of course, merely every bit incomes vary nationwide, incomes also vary within states. The income necessary to be among the top one% in each state is ofttimes driven upwards by a scattering of wealthy towns or neighborhoods. Concentrated pockets of wealth drive upwards boilerplate overall incomes in every country. Hither is a look at the richest boondocks in every state.
1. Alabama
• Top 1% earn at least: $390,066 (7th lowest)
• Avg. income of the top i%: $one,011,643 (9th lowest)
• Share of all income earned past the 1%: 15.5% (19th lowest)
• Avg. income among all revenue enhancement filers: $65,249 (fifth lowest)
In Alabama, taxation filers earning $390,066 rank in the top ane% of all earners, the seventh lowest threshold of whatever country. Filers in the 1% in Alabama earn an average of $ane.0 million and pay $265,363 in federal income taxes, the ninth and 10th smallest such figures of any state's top i% of earners.
2. Alaska
• Top 1% earn at least: $433,070 (21st everyman)
• Avg. income of the top 1%: $934,419 (sixth everyman)
• Share of all income earned by the ane%: 11.ix% (2nd lowest)
• Avg. income among all tax filers: $78,641 (18th highest)
In Alaska, residents need to earn at least $433,070 to rank among the meridian 1% of earners. Among the wealthiest 1% of taxpayers in the land, the average income is $934,419 – or about $855,000 more the average income amongst all taxpayers.
3. Arizona
• Top one% earn at least: $448,795 (25th everyman)
• Avg. income of the top 1%: $1,235,517 (22nd highest)
• Share of all income earned by the ane%: 17% (17th highest)
• Avg. income among all tax filers: $72,696 (20th lowest)
The average income across all taxpayers in Arizona is $72,696. Amid the top 1% of earners in the state – those earning at to the lowest degree $448,795 – the boilerplate income is $1.ii million. The roughly 28,000 taxpayers who comprise the land's one% earned nearly 17% of all money made in the state annually.
4. Arkansas
• Summit i% earn at least: $377,895 (5th lowest)
• Avg. income of the top i%: $1,483,488 (13th highest)
• Share of all income earned past the 1%: 21.9% (ninth highest)
• Avg. income amongst all taxation filers: $67,841 (tenth lowest)
In Arkansas, the income threshold for the height 1% is only $377,895, about $161,000 less than the national 1% threshold and the fifth lowest of whatsoever country. While the threshold for the meridian 1% is lower in Arkansas than in the bulk of states, the average filer in the 1% earns $ane.5 million – the 13th highest boilerplate income of the 1% of any state.
5. California
• Top one% earn at to the lowest degree: $659,503 (5th highest)
• Avg. income of the top ane%: $2,195,775 (6th highest)
• Share of all income earned past the ane%: 23% (7th highest)
• Avg. income among all tax filers: $95,494 (5th highest)
With an boilerplate statewide income of about $95,500, California is ane of the wealthiest states in the country. The high boilerplate income in the state is due in part to a loftier concentration of high-wealth individuals. The threshold for being among California'southward ane% is $659,503, higher than in all but four other states. Amid the pinnacle 1% of earners in the state, the average almanac income is $ii.2 million.
6. Colorado
• Height i% earn at least: $563,672 (8th highest)
• Avg. income of the top 1%: $1,554,182 (12th highest)
• Share of all income earned by the 1%: 17.6% (15th highest)
• Avg. income among all tax filers: $88,153 (11th highest)
In Colorado, residents need to earn at to the lowest degree $563,672 a year to rank in the tiptop 1% of earners. The state ane% income threshold is nearly $25,000 more than the national threshold and the 8th highest of any state. One factor pushing incomes higher in Colorado is likely high educational attainment. Among adults in the land, 41.vii% accept at least a bachelor's degree, the second largest share of whatsoever state.
7. Connecticut
• Top 1% earn at least: $827,194 (the highest)
• Avg. income of the pinnacle 1%: $3,060,989 (the highest)
• Share of all income earned by the i%: 27% (4th highest)
• Avg. income amongst all tax filers: $113,570 (the highest)
Connecticut residents must earn at least $827,194 a year to rank in the top 1% of earners, the highest threshold of any state. Connecticut's wealthiest earners as well have the largest tax burden in the land. The boilerplate filer in the tiptop 1% earns $3.1 one thousand thousand and pays $825,611 in federal income taxes, each the largest such effigy of any state.
8. Delaware
• Superlative i% earn at least: $440,228 (23rd everyman)
• Avg. income of the top 1%: $1,069,994 (17th everyman)
• Share of all income earned past the 1%: fourteen.ane% (seventh everyman)
• Avg. income among all revenue enhancement filers: $76,151 (23rd highest)
Delaware residents who earn at least $440,228 a year are amongst the elevation i% of earners in the state. Among the state's wealthiest 1%, the average annual income is $1.1 million. Among the land's wealthiest i%, the average annual income is $1.1 million, 14 times the average annual income across all taxpayers in Delaware of just $76,151.
ix. Florida
• Top 1% earn at least: $581,682 (7th highest)
• Avg. income of the top one%: $2,347,180 (5th highest)
• Share of all income earned by the 1%: 28.iv% (2nd highest)
• Avg. income among all tax filers: $82,535 (14th highest)
Individuals in Florida must earn at least $581,682 a twelvemonth to rank in the top 1%, the seventh highest threshold of whatever state. The peak 1% of earners in Florida account for 28.four% of all income in the state – the second largest such share – and pay 50.3% of all federal income taxes, the largest share in the country.
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ten. Georgia
• Top i% earn at least: $501,914 (15th highest)
• Avg. income of the pinnacle 1%: $1,420,732 (15th highest)
• Share of all income earned by the i%: 19% (12th highest)
• Avg. income amid all tax filers: $74,744 (24th highest)
The threshold to be in the top 1% of earners in Georgia is an almanac income of $501,914, the 15th highest of any land. The height 1% of earners in Georgia account for 19% of all income and 36.3% of all federal income taxes, each the twelfth largest such share of whatever land.
11. Hawaii
• Top 1% earn at least: $414,599 (13th lowest)
• Avg. income of the top 1%: $1,044,728 (14th lowest)
• Share of all income earned past the one%: 14.1% (ninth lowest)
• Avg. income amongst all tax filers: $74,204 (23rd lowest)
The top one per centum in Hawaii earn a cumulative total of about $vi.eight billion annually, or fourteen.1% of all income earned in the state. Every bit is the case across the U.South. as a whole, the top 1% of earners in Hawaii the summit 1% of earners in Hawaii pay a disproportionate share in taxes. The top 1% pay near $1.seven billion in federal income taxed annually, or 28.3% of the total amount collected in the country.
12. Idaho
• Elevation 1% earn at least: $407,393 (tenth everyman)
• Avg. income of the top one%: $1,043,184 (13th lowest)
• Share of all income earned by the ane%: 15.2% (16th lowest)
• Avg. income amongst all tax filers: $68,702 (13th everyman)
Idaho is one of the lower-income states, with an boilerplate annual income amidst taxpayers of $68,702. It does not accept as much money to rank amid the wealthiest 1% in the state compared to much of the rest of the country. I-percenters in Idaho earn at least $407,393. In half of all states, the threshold is at to the lowest degree $450,000.
13. Illinois
• Elevation 1% earn at to the lowest degree: $558,831 (9th highest)
• Avg. income of the superlative 1%: $i,639,367 (11th highest)
• Share of all income earned past the ane%: 19.2% (11th highest)
• Avg. income amongst all taxation filers: $85,544 (13th highest)
Information technology takes more than to rank among the top 1% of earners in Illinois than in nigh other states. The 56,000 taxpayers in the state who comprise the i% earn about $91.8 billion cumulatively per year, or 19.2% of all money made in the land. Illinois's wealthiest residents too pay a unduly loftier share of taxes, accounting for 36.two% of federal income taxes collected in the state.
14. Indiana
• Top 1% earn at least: $394,398 (eighth lowest)
• Avg. income of the top 1%: $1,000,641 (8th lowest)
• Share of all income earned past the ane%: xiv.8% (12th everyman)
• Avg. income amidst all tax filers: $67,732 (9th lowest)
Indiana residents must earn $394,398 annually to rank in the height 1% – the eighth everyman threshold of any state. The average member of the ane% in Indiana earns $1.0 1000000 a year and pays $269,436 in federal income taxes, approximately $694,000 less in income and $186,000 less in federal income taxes than the national average for the ane%.
15. Iowa
• Top 1% earn at to the lowest degree: $402,246 (9th lowest)
• Avg. income of the pinnacle ane%: $978,158 (7th everyman)
• Share of all income earned by the 1%: 13.four% (4th lowest)
• Avg. income among all tax filers: $73,171 (21st lowest)
The minimum income required to rank amid the top 1% of earners in Iowa is $402,246, 1 of the lowest thresholds amid states. Across populations, incomes tend to ascension with educational attainment, and in Iowa, only 29% of adults have a bachelor's caste, below the 32.6% share of adults nationwide. States with higher income thresholds for the wealthiest 1% also tend to have college educational attainment.
sixteen. Kansas
• Acme one% earn at least: $450,606 (25th highest)
• Avg. income of the top 1%: $1,173,583 (24th lowest)
• Share of all income earned by the ane%: 15.viii% (23rd lowest)
• Avg. income among all taxation filers: $74,382 (24th lowest)
The threshold for the meridian 1% of earners in Kansas is $450,606, approximately $88,000 below the national average. The top one% of earners account for xv.viii% of all income in Kansas and 33.i% of all federal income taxes. By comparison, the pinnacle 1% of earners nationwide account for 20.5% of all income and 38.3% of all federal income taxes.
17. Kentucky
• Tiptop 1% earn at least: $377,532 (4th lowest)
• Avg. income of the top 1%: $900,198 (fifth lowest)
• Share of all income earned by the one%: fourteen.1% (8th lowest)
• Avg. income amid all taxation filers: $64,051 (4th lowest)
Kentucky is one of the poorest states in the country, and partially every bit a issue, it does not accept as much money to rank amongst the state'due south 1% than it does in much of the Usa. Kentucky is ane of only viii states where an income of less than $400,000 is enough to exist in the height i%. Information technology is also one of only seven states where the average annual income amidst the 1% is less than $i 1000000.
eighteen. Louisiana
• Top ane% earn at least: $423,138 (17th lowest)
• Avg. income of the top one%: $i,066,004 (15th lowest)
• Share of all income earned by the 1%: sixteen.1% (25th highest)
• Avg. income amidst all tax filers: $66,342 (6th lowest)
Taxation filers in Louisiana demand to brand at to the lowest degree $423,138 a year to exist in the height ane% of earners, about $116,000 beneath the national threshold. The average revenue enhancement filer in the height 1% in Louisiana earns $ane.1 million a year and pays $293,992 in federal income taxes. Past comparison, the average taxation filer in the top 1% nationwide earns $one.7 one thousand thousand a yr and pays $454,943 in federal income taxes.
nineteen. Maine
• Top 1% earn at least: $389,504 (6th lowest)
• Avg. income of the top 1%: $871,388 (fourth lowest)
• Share of all income earned by the 1%: 13% (3rd lowest)
• Avg. income among all tax filers: $66,809 (7th lowest)
Maine is one of only eight states where it takes less than $400,000 to exist in the meridian one% of earners. Cumulatively, the state's i-percenters earn $5.3 billion a year, or 13% of all income, more than than double the amount the bottom 25% in the state earn.
twenty. Maryland
• Summit 1% earn at least: $532,093 (11th highest)
• Avg. income of the summit 1%: $1,355,956 (19th highest)
• Share of all income earned past the one%: 15.iii% (17th lowest)
• Avg. income among all tax filers: $88,763 (9th highest)
Every taxpayer in Maryland who ranks amidst the acme i% of earners makes over half a 1000000 dollars a year. On boilerplate, one-percenters in the state earn nearly $1.4 million annually.
Cumulatively, 1-percenters in Maryland earn 15.3% of all income, and they shoulder a disproportionate share of the state's tax burden, accounting for 29.three% of all federal income taxes paid in the country.
21. Massachusetts
• Summit 1% earn at least: $728,272 (2nd highest)
• Avg. income of the elevation 1%: $two,582,633 (3rd highest)
• Share of all income earned by the 1%: 23.7% (sixth highest)
• Avg. income amongst all tax filers: $109,082 (second highest)
Massachusetts is one of the about flush states in the country, with an average income amidst all taxpayers of $109,082, the 3rd highest of whatever state. To be in the top ane% of earners, a tax filer in 2018 needed to take an income of at least $728,272, a higher threshold than all states only ane. Adults with a higher educational attainment are much more likely to earn higher incomes, and the state has among the highest shares of adults with a bachelor'southward degree, at 44.5% of adults, compared to a national share of 32.six%.
22. Michigan
• Top 1% earn at to the lowest degree: $435,271 (22nd lowest)
• Avg. income of the top 1%: $1,203,724 (25th lowest)
• Share of all income earned by the 1%: 16.vii% (20th highest)
• Avg. income among all tax filers: $72,227 (19th lowest)
In Michigan, the peak ane% of earners account for xvi.7% of all income in the state. Meanwhile, the bottom quarter of all earners account for just 3.vii% of all earnings. The average income amid the wealthiest 1% Michigan residents is $1.2 million – almost 17 times the average income among all taxpayers in the state of $72,227.
23. Minnesota
• Peak 1% earn at least: $522,444 (13th highest)
• Avg. income of the tiptop 1%: $1,399,463 (16th highest)
• Share of all income earned by the 1%: sixteen.three% (23rd highest)
• Avg. income among all tax filers: $85,628 (12th highest)
The income floor for the top i% of earners in Minnesota is $522,444, about in line with the national 1% threshold of $538,926. The tiptop i% of earners in Minnesota account for xvi.three% of all income in the land and 31.5% of all federal income taxes – lower than the corresponding national shares of 20.5% and 38.iii%, respectively.
24. Mississippi
• Top 1% earn at to the lowest degree: $326,182 (second everyman)
• Avg. income of the top 1%: $751,141 (2nd lowest)
• Share of all income earned by the 1%: thirteen.4% (5th lowest)
• Avg. income among all tax filers: $55,999 (the lowest)
In Mississippi, the average annual income among revenue enhancement filers is just $55,999, the lowest of any land and approximately $27,000 lower than the national average. Individuals with an annual income of $326,182 in the country rank in the tiptop 1%, a threshold about $213,000 less than the national threshold and the second lowest income flooring for the ane% of whatever state.
25. Missouri
• Top one% earn at to the lowest degree: $419,752 (16th lowest)
• Avg. income of the top 1%: $1,136,765 (23rd lowest)
• Share of all income earned past the 1%: 16.3% (24th highest)
• Avg. income among all tax filers: $69,882 (16th everyman)
It takes about $420,000 in annual income to be among the highest 1% of earners in Missouri, a lower threshold than in about states. The boilerplate income among one-percenters in the state is $one.1 million, about 16 times the average income of $69,882 among all earners.
26. Montana
• Pinnacle i% earn at least: $416,874 (15th everyman)
• Avg. income of the height 1%: $i,066,180 (16th lowest)
• Share of all income earned past the 1%: 15.6% (20th lowest)
• Avg. income amidst all tax filers: $68,554 (12th lowest)
The threshold for the meridian 1% of income in Montana is $416,874, virtually $122,000 less than the national figure. Taxation filers in the top 1% earn an boilerplate of $one.1 million a year and pay $270,672 in income taxes. By comparing, the superlative 1% of earners nationwide report $ane.seven 1000000 in income and $454,942 in federal income taxes.
27. Nebraska
• Tiptop 1% earn at least: $431,616 (20th lowest)
• Avg. income of the height ane%: $1,123,566 (19th lowest)
• Share of all income earned by the one%: xv.i% (14th lowest)
• Avg. income among all taxation filers: $74,393 (25th lowest)
The acme 1% of earners in Nebraska brand $9.2 billion cumulatively per year, or about 15.one% of all income in the state. Meanwhile, the bottom 25% of earners account for just four.7% of all money earned.
Every bit is the example nationwide, Nebraska'south 1% shoulder a disproportionate share of the taxation burden, paying well-nigh 32.2% of all income federal taxes nerveless a twelvemonth.
28. Nevada
• Top ane% earn at least: $469,328 (18th highest)
• Avg. income of the top i%: $1,864,084 (8th highest)
• Share of all income earned by the one%: 24.iii% (fifth highest)
• Avg. income among all taxation filers: $76,757 (21st highest)
While in Nevada the income threshold for the top 1% is $469,326, beneath the national threshold of $538,926, the average income amidst the meridian 1% of earners is $1.9 million – above the $i.seven million national boilerplate. The peak 1% of earners in Nevada account for 24.3% of all income in the country and 45.6% of all federal income taxes paid, the fifth and fourth largest such shares of whatever state.
29. New Hampshire
• Top one% earn at least: $510,178 (14th highest)
• Avg. income of the top one%: $1,453,974 (14th highest)
• Share of all income earned by the i%: 16.4% (21st highest)
• Avg. income amidst all tax filers: $88,867 (8th highest)
The income threshold to exist among the pinnacle 1% of earners in New Hampshire is $510,178, higher than in the majority of states. The average annual income among i-percenters in the country of $ane.5 million is also higher than in most states. Across populations, incomes tend to rise with educational attainment, and in New Hampshire, 36.8% of adults have a bachelor's degree, compared to the 32.vi% share of adults nationwide.
30. New Jersey
• Top 1% earn at to the lowest degree: $701,005 (4th highest)
• Avg. income of the top 1%: $2,002,544 (7th highest)
• Share of all income earned by the one%: 19.6% (tenth highest)
• Avg. income amidst all tax filers: $102,186 (3rd highest)
New Jersey is one of only three states where the average annual income amidst taxpayers is over $100,000. It takes an annual income of over $700,000 to rank among the country'south top i% of earners. Additionally, the peak ane% cumulatively account for most 20% of all income in the state.
The state's wealthiest residents besides pay more in income taxes, accounting for nearly 35% of all federal income tax payments.
31. New Mexico
• Top 1% earn at to the lowest degree: $341,111 (3rd lowest)
• Avg. income of the top ane%: $840,305 (3rd lowest)
• Share of all income earned by the one%: 14% (6th lowest)
• Avg. income among all tax filers: $lx,109 (3rd lowest)
New United mexican states is one of the lowest-income states in the land, with the average taxpayer earning $60,109 a year. It too has one of the lowest thresholds to be among the top i% of earners among states at $341,111. In the vast majority of states, an annual income of at least $400,000 is needed to exist amidst the height ane%.
32. New York
• Top 1% earn at least: $702,559 (3rd highest)
• Avg. income of the tiptop one%: $2,894,085 (second highest)
• Share of all income earned by the 1%: 29.iii% (the highest)
• Avg. income amid all tax filers: $98,941 (4th highest)
New York is one of only iv states where it takes over $700,000 in annual income to be among the top 1% of earners. The state's high threshold is driven upward by New York City, where many of the globe's wealthiest have homes and there is a concentration of high paying jobs. Ane-percenters in New York earn $2.9 million on average, and their combined earnings account for 29.iii% of all income in the country. Meanwhile, the bottom quarter of earners in the land account for just ii.9% of all income.
33. Northward Carolina
• Top i% earn at least: $453,976 (24th highest)
• Avg. income of the superlative i%: $1,131,863 (22nd lowest)
• Share of all income earned by the one%: 16% (25th lowest)
• Avg. income among all tax filers: $seventy,705 (17th lowest)
The top i% of earners in N Carolina earn at to the lowest degree $453,976, which is nigh the middle of the fifty states. Collectively, the state's height 1% of earners business relationship for about one-3rd of the land's total income, which is also in the heart of all states. Nationwide, the top 1% of earners account for 38.iii% of the national's total income.
34. N Dakota
• Top 1% earn at least: $462,352 (21st highest)
• Avg. income of the peak i%: $1,131,705 (21st lowest)
• Share of all income earned past the 1%: xiv.3% (10th everyman)
• Avg. income among all tax filers: $79,305 (16th highest)
N Dakota has a more even distribution of income compared to other states. The tiptop 25% of earners in North Dakota state business relationship for 78.5% of the land'south total Federal income taxes paid, the lowest share of any state. The state has a lower share of households with incomes of less than $10,000 per year and a lower share of households earning more than $200,000 compared to the comparable national shares of households.
35. Ohio
• Summit 1% earn at least: $412,919 (12th lowest)
• Avg. income of the peak 1%: $ane,020,320 (10th lowest)
• Share of all income earned past the 1%: 14.eight% (13th lowest)
• Avg. income amongst all tax filers: $68,950 (15th lowest)
Information technology takes an annual income of at least $412,919 to be among the top ane% of earners in Ohio, a lower threshold than in most states. Beyond populations, incomes tend to rise with educational attainment, and in Ohio, just 29% of adults accept a bachelor's caste, below the 32.half-dozen% share of adults nationwide. States with a college top 1% income threshold also tend to have college educational attainment.
36. Oklahoma
• Acme 1% earn at least: $424,529 (18th everyman)
• Avg. income of the elevation ane%: $1,117,765 (18th lowest)
• Share of all income earned past the 1%: xvi.4% (22nd highest)
• Avg. income amongst all tax filers: $68,348 (11th lowest)
Among the top 1% of earners in Oklahoma – those earning at to the lowest degree $424,529 per year – the average annual income is $i.one 1000000, about 16 times the average income across all taxpayers in the land. Cumulatively, 1-percenters in Oklahoma account for 16.4% of all income in the state, while the bottom 25% business relationship for merely only iv.2% of income.
37. Oregon
• Summit ane% earn at least: $465,936 (20th highest)
• Avg. income of the top 1%: $1,207,272 (25th highest)
• Share of all income earned past the 1%: 15.7% (21st everyman)
• Avg. income among all tax filers: $76,998 (20th highest)
Oregon residents must earn at least $465,936 to rank in the superlative 1% of earners, approximately $73,000 less than the national threshold for the 1%. The boilerplate earner in the 1% in Oregon has a reported income of $1.ii 1000000, compared to the $ane.vii 1000000 nationwide boilerplate.
38. Pennsylvania
• Height 1% earn at least: $491,997 (16th highest)
• Avg. income of the top i%: $1,329,913 (20th highest)
• Share of all income earned by the 1%: 17% (19th highest)
• Avg. income among all taxation filers: $78,385 (19th highest)
The average annual income among the top 1% of earners in Pennsylvania – those earning at least $465,936 per year – is $1.iii million. Meanwhile, the boilerplate almanac income among all taxpayers in the country is $78,385.
Though i-percenters earn 17% all income in Pennsylvania, they pay over one-third of all federal income taxes in the land.
39. Rhode Island
• Top 1% earn at to the lowest degree: $457,372 (22nd highest)
• Avg. income of the top 1%: $ane,214,783 (24th highest)
• Share of all income earned by the 1%: 15.ix% (24th lowest)
• Avg. income among all tax filers: $76,632 (22nd highest)
In Rhode Island, the income floor for the acme 1% of earners is $457,372, nearly $82,000 less than the national income threshold of $538,926. Rhode Island 1-percenters account for 15.ix% of all income in the state and 31.2% of all federal income taxes paid. Past comparison, the top 1% of earners nationwide account for 20.5% of all income and 38.3% of all federal income tax.
40. South Carolina
• Tiptop 1% earn at to the lowest degree: $415,810 (14th lowest)
• Avg. income of the tiptop 1%: $1,034,585 (12th lowest)
• Share of all income earned by the 1%: 15.4% (18th lowest)
• Avg. income amidst all taxation filers: $67,102 (8th lowest)
To be i of the top i% earners, a South Carolina resident would demand to have an annual income of $415,810, the 14th everyman threshold among states. There is a steep dropoff in income betwixt the land's hyper-wealthy and those who are "just" very wealthy. To be in the top 5% of earners, one needs to have an income of at least $183,102.
41. Southward Dakota
• Pinnacle 1% earn at least: $455,582 (23rd highest)
• Avg. income of the meridian 1%: $ane,263,238 (21st highest)
• Share of all income earned by the ane%: 17% (18th highest)
• Avg. income amidst all taxation filers: $74,418 (25th highest)
South Dakota residents earning $455,582 per year or more are among the highest earning 1% in the state. The one-percenters in the country cumulatively account for 17% of all income. Meanwhile, the bottom 25% of earners account for but 0.6% of all income.
42. Tennessee
• Top 1% earn at to the lowest degree: $441,531 (24th lowest)
• Avg. income of the acme 1%: $1,227,645 (23rd highest)
• Share of all income earned by the 1%: 17.8% (14th highest)
• Avg. income among all tax filers: $68,944 (14th lowest)
Tennessee residents who earn at least $441,531 are among the top 1% of earners in the land. The average income amidst the country's one-percenters is $1.2 one thousand thousand, a higher average than in virtually states. Cumulatively, the country'south ane-percenters earn 17.viii% of all income. Meanwhile, the lesser 25% earn simply 0.3% of all income.
43. Texas
• Superlative 1% earn at least: $550,748 (10th highest)
• Avg. income of the height one%: $1,806,554 (ninth highest)
• Share of all income earned past the one%: 22.i% (8th highest)
• Avg. income amid all tax filers: $81,734 (15th highest)
While the average annual income among all taxation filers in Texas is about the same as the boilerplate nationwide – at $81,734 compared to $82,535, respectively – the height 1% of earners are amid the wealthiest of any land. The income threshold for the top 1% in Texas is $550,748, the 10th highest of any state. The average income of those in the top 1% is $ane.8 million, college than the $one.vii million national average and the ninth highest of any land.
44. Utah
• Top 1% earn at least: $469,198 (19th highest)
• Avg. income of the top 1%: $1,380,676 (18th highest)
• Share of all income earned past the 1%: 17.5% (16th highest)
• Avg. income amidst all revenue enhancement filers: $78,979 (17th highest)
The income threshold to rank in the top i% of earners in Utah is $469,198, well-nigh $70,000 less than the national threshold. The average 1-percenter in Utah earns $1.iv million a twelvemonth, less than the $1.7 million national average.
45. Vermont
• Top 1% earn at least: $407,661 (11th everyman)
• Avg. income of the top ane%: $1,024,754 (11th lowest)
• Share of all income earned by the 1%: 14.four% (11th lowest)
• Avg. income among all revenue enhancement filers: $71,068 (18th lowest)
While Vermont is one of the most educated states – 38.7% of adults have a bachelor's caste, the seventh largest share – incomes in the country are relatively depression. The average tax filer earns $71,068 a year, approximately $11,000 less than the national average. To qualify for the top i%, an private would need to make at least $407,661 a year, about $131,000 less than the national cutoff for the one%.
46. Virginia
• Top 1% earn at least: $529,094 (12th highest)
• Avg. income of the peak one%: $one,390,139 (17th highest)
• Share of all income earned past the i%: fifteen.7% (22nd lowest)
• Avg. income amongst all tax filers: $88,486 (10th highest)
While Virginia is i of the wealthiest states – the average income among tax filers is $88,486 compared to a national average of $82,535 – the threshold for the one% is lower than it is for the United states of america as a whole. The income flooring for the 1% in Virginia is $529,094, approximately $10,000 less than the national figure of $538,926.
47. Washington
• Top i% earn at least: $585,748 (6th highest)
• Avg. income of the top 1%: $1,756,011 (10th highest)
• Share of all income earned by the 1%: eighteen.7% (13th highest)
• Avg. income among all taxation filers: $94,129 (sixth highest)
Washington is ane of the wealthiest states in the country. The boilerplate almanac income among tax filers is $94,129, about $12,000 more the national average income and sixth highest of whatsoever state. To exist considered in the meridian 1% of earners, individuals must have a reported income of at least $585,748 – more than than the national average of $538,926 and the sixth highest threshold of any state.
48. West Virginia
• Top 1% earn at least: $318,831 (the lowest)
• Avg. income of the top 1%: $651,628 (the lowest)
• Share of all income earned by the ane%: eleven.one% (the lowest)
• Avg. income among all tax filers: $58,481 (2d lowest)
West Virginia is i of the poorest states in the country. Some 17.8% of residents alive in poverty, the fourth highest poverty rate nationwide, and the boilerplate tax filer has a reported income of $58,481, the second lowest of any state. To exist considered among the summit one% of earners in W Virginia, individuals need an income of $318,831 – approximately $220,000 less than the national figure and the lowest threshold of whatsoever state.
49. Wisconsin
• Peak 1% earn at least: $428,490 (19th lowest)
• Avg. income of the elevation 1%: $1,125,867 (20th everyman)
• Share of all income earned by the 1%: xv.two% (15th lowest)
• Avg. income among all revenue enhancement filers: $74,199 (22nd lowest)
In Wisconsin, individuals need to earn at $428,490 to rank in the acme 1% of earners, most $110,000 less than the national threshold of $538,926. The boilerplate almanac income among tax filers in the top one% is $1.1 1000000, far less than the $1.7 million national figure.
50. Wyoming
• Top i% earn at least: $478,292 (17th highest)
• Avg. income of the superlative 1%: $ii,501,169 (4th highest)
• Share of all income earned by the 1%: 27.6% (3rd highest)
• Avg. income among all tax filers: $90,663 (7th highest)
To rank in the tiptop 1% of earners in Wisconsin, individuals need to make $478,292 a twelvemonth – approximately $60,000 less than the national threshold of $538,926. While the threshold is lower, the land'southward one-percenters are wealthier than the elevation 1% of earners in most states. The average one-percenter in Wyoming earns $two.v million a year, far more than than the $ane.7 million national average and the fourth most of any land.
Methodology
To determine how much you demand to make to be in the 1% in every state, 24/seven Wall St. reviewed adapted gross income percentile data for the 2017 revenue enhancement year from the IRS. We besides calculated the boilerplate incomes and average income taxes for earners in the top i% using total adapted gross income, total federal income taxes, and number of returns information from the IRS.
All income data was adjusted for inflation using consumer price index information for 2017 and 2019 from the U.Due south. Agency of Labor Statistics.
Supplemental data on median income for all earners 16 and over, the percentage of adults with at to the lowest degree a bachelor's degree, and the poverty charge per unit came from the U.S. Census Bureau'southward 2018 American Community Survey.
24/7 Wall Street is a USA TODAY content partner offering financial news and commentary. Its content is produced independently of USA TODAY.
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Source: https://www.usatoday.com/story/money/2020/07/01/how-much-you-need-to-make-to-be-in-the-1-in-every-state/112002276/
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