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What It Takes To Be In The Top One Percent Of Earners, By US State

What It Takes To Be In The Top One Percent Of Earners, By US State
In some states, you'd need an income of more than $1 million a year to join the one percent club.
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The median household income in the US is around $75,000 a year, but it takes more than ten times that β€” $787,712, to be exact β€” to be in the top one percent of earners nationwide.

SmartAsset wanted to know how that threshold varies around the country, so they used the latest IRS tax return data to rank the US states based on what it takes to join the one percent club in each.

The income floor for one-percenters exceeds $1 million a year in three states: Connecticut ($1.15 million), Massachusetts ($1.11 million) and California ($1.04 million).

Washington ranks fourth on the list, with earners needing an income of $989,649 to be in the one percent.

At the other end of the scale, West Virginia residents making just $420,453 a year are among the state's highest earners. Mississippi ($440,744) and New Mexico ($476,196) have similarly low thresholds.



Via SmartAsset.

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