What Percent of American Families Make Over 1,000,000
While income inequality is a fundamental component of the U.S. backer economy, a recent poll conducted by the Pew Research Center found that 61% of Americans think that it has gone too far. Today, the height ane% of earners in the United States account for nearly 20% of the country's total income annually. Meanwhile, the lowest-earning quarter of Americans business relationship for just 3.vii% of income every year.
Nationwide, information technology takes an annual income of $538,926 to be amongst the superlative 1%. Amidst the approximately 1.4 million taxpayers who meet this threshold, the average annual income is nigh $i.seven million – near 20 times the average income of $82,535 amongst all taxpayers. Wealth, however, is far more than full-bodied in certain parts of the country than in others, and as a result, the amount information technology takes to be amidst the height 1% in each land varies considerably.
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Using adapted gross income percentile data for the 2017 tax twelvemonth from the IRS, 24/vii Wall St. adamant how much you demand to make to be in the i% in every state. All information is derived from federal 1040 private tax returns and is aggrandizement adjusted for 2019. The annual income floor needed to be in the 1% ranges from less than $350,000 in some states to well more than than double that in others.
Across populations, incomes tend to rise with educational attainment. Every bit a result, incomes tend to exist higher in states that are home to a large share of college educated adults. Indeed, many of the best-educated states are as well those with the highest income threshold to exist amid the top 1% of earners. Hither is a complete list of America's most and least educated states.
Of class, just as incomes vary nationwide, incomes as well vary within states. The income necessary to be amidst the top 1% in each country is often driven up by a handful of wealthy towns or neighborhoods. Concentrated pockets of wealth drive upwards average overall incomes in every state. Hither is a look at the richest town in every state.
one. Alabama
• Top 1% earn at least: $390,066 (7th everyman)
• Avg. income of the meridian 1%: $1,011,643 (ninth lowest)
• Share of all income earned past the 1%: fifteen.5% (19th lowest)
• Avg. income among all taxation filers: $65,249 (5th lowest)
In Alabama, tax filers earning $390,066 rank in the top 1% of all earners, the seventh lowest threshold of any state. Filers in the 1% in Alabama earn an average of $1.0 million and pay $265,363 in federal income taxes, the ninth and 10th smallest such figures of any country's top 1% of earners.
2. Alaska
• Top 1% earn at least: $433,070 (21st lowest)
• Avg. income of the top 1%: $934,419 (sixth lowest)
• Share of all income earned past the one%: 11.9% (2nd lowest)
• Avg. income amidst all tax filers: $78,641 (18th highest)
In Alaska, residents demand to earn at least $433,070 to rank among the elevation ane% of earners. Amidst the wealthiest 1% of taxpayers in the country, the average income is $934,419 – or about $855,000 more than the average income amid all taxpayers.
3. Arizona
• Summit 1% earn at to the lowest degree: $448,795 (25th everyman)
• Avg. income of the top 1%: $i,235,517 (22nd highest)
• Share of all income earned by the 1%: 17% (17th highest)
• Avg. income amongst all tax filers: $72,696 (20th lowest)
The average income across all taxpayers in Arizona is $72,696. Amidst the top 1% of earners in the state – those earning at least $448,795 – the average income is $1.two million. The roughly 28,000 taxpayers who comprise the state's 1% earned about 17% of all money made in the state annually.
4. Arkansas
• Acme 1% earn at least: $377,895 (5th lowest)
• Avg. income of the tiptop 1%: $1,483,488 (13th highest)
• Share of all income earned past the 1%: 21.ix% (9th highest)
• Avg. income amongst all tax filers: $67,841 (10th lowest)
In Arkansas, the income threshold for the tiptop 1% is but $377,895, about $161,000 less than the national i% threshold and the fifth lowest of any land. While the threshold for the top 1% is lower in Arkansas than in the majority of states, the boilerplate filer in the ane% earns $one.5 meg – the 13th highest average income of the 1% of any state.
5. California
• Top 1% earn at least: $659,503 (5th highest)
• Avg. income of the top i%: $2,195,775 (6th highest)
• Share of all income earned by the one%: 23% (7th highest)
• Avg. income among all tax filers: $95,494 (fifth highest)
With an average statewide income of about $95,500, California is one of the wealthiest states in the country. The high average income in the state is due in part to a high concentration of loftier-wealth individuals. The threshold for being amid California'due south 1% is $659,503, higher than in all only four other states. Among the tiptop 1% of earners in the state, the boilerplate annual income is $2.2 meg.
six. Colorado
• Top 1% earn at least: $563,672 (8th highest)
• Avg. income of the top i%: $ane,554,182 (twelfth highest)
• Share of all income earned by the 1%: 17.six% (15th highest)
• Avg. income amid all tax filers: $88,153 (11th highest)
In Colorado, residents demand to earn at least $563,672 a twelvemonth to rank in the elevation 1% of earners. The state ane% income threshold is nearly $25,000 more than the national threshold and the eighth highest of whatever state. I factor pushing incomes higher in Colorado is likely high educational attainment. Amongst adults in the state, 41.7% have at least a bachelor's degree, the 2nd largest share of any state.
7. Connecticut
• Meridian 1% earn at least: $827,194 (the highest)
• Avg. income of the top one%: $three,060,989 (the highest)
• Share of all income earned by the 1%: 27% (fourth highest)
• Avg. income among all taxation filers: $113,570 (the highest)
Connecticut residents must earn at least $827,194 a twelvemonth to rank in the top i% of earners, the highest threshold of any country. Connecticut'south wealthiest earners also accept the largest taxation burden in the land. The boilerplate filer in the elevation 1% earns $iii.1 million and pays $825,611 in federal income taxes, each the largest such figure of any state.
viii. Delaware
• Top 1% earn at to the lowest degree: $440,228 (23rd everyman)
• Avg. income of the acme i%: $i,069,994 (17th lowest)
• Share of all income earned past the 1%: 14.1% (7th lowest)
• Avg. income among all tax filers: $76,151 (23rd highest)
Delaware residents who earn at least $440,228 a year are among the top 1% of earners in the country. Among the country'due south wealthiest one%, the boilerplate annual income is $1.one million. Among the land's wealthiest i%, the average almanac income is $1.1 1000000, 14 times the average annual income across all taxpayers in Delaware of simply $76,151.
ix. Florida
• Superlative 1% earn at least: $581,682 (7th highest)
• Avg. income of the height i%: $ii,347,180 (fifth highest)
• Share of all income earned by the ane%: 28.iv% (second highest)
• Avg. income among all tax filers: $82,535 (14th highest)
Individuals in Florida must earn at least $581,682 a year to rank in the top i%, the seventh highest threshold of whatever state. The elevation ane% of earners in Florida account for 28.4% of all income in the state – the 2d largest such share – and pay l.3% of all federal income taxes, the largest share in the land.
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10. Georgia
• Top i% earn at least: $501,914 (15th highest)
• Avg. income of the peak 1%: $1,420,732 (15th highest)
• Share of all income earned by the 1%: 19% (12th highest)
• Avg. income among all tax filers: $74,744 (24th highest)
The threshold to be in the top 1% of earners in Georgia is an annual income of $501,914, the 15th highest of any state. The pinnacle 1% of earners in Georgia business relationship for xix% of all income and 36.3% of all federal income taxes, each the 12th largest such share of any land.
eleven. Hawaii
• Top 1% earn at least: $414,599 (13th lowest)
• Avg. income of the superlative 1%: $i,044,728 (14th everyman)
• Share of all income earned past the 1%: xiv.ane% (ninth lowest)
• Avg. income among all revenue enhancement filers: $74,204 (23rd lowest)
The top one percent in Hawaii earn a cumulative total of almost $half dozen.8 billion annually, or fourteen.ane% of all income earned in the state. Equally is the case across the U.Southward. as a whole, the top 1% of earners in Hawaii the top 1% of earners in Hawaii pay a disproportionate share in taxes. The top 1% pay nigh $one.vii billion in federal income taxed annually, or 28.3% of the full amount collected in the state.
12. Idaho
• Tiptop ane% earn at least: $407,393 (10th lowest)
• Avg. income of the height 1%: $1,043,184 (13th lowest)
• Share of all income earned past the one%: 15.2% (16th everyman)
• Avg. income amidst all tax filers: $68,702 (13th lowest)
Idaho is one of the lower-income states, with an average almanac income among taxpayers of $68,702. It does not take as much money to rank among the wealthiest i% in the country compared to much of the rest of the country. One-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
• Top 1% earn at least: $558,831 (9th highest)
• Avg. income of the top 1%: $1,639,367 (11th highest)
• Share of all income earned by the i%: xix.2% (11th highest)
• Avg. income amidst all tax filers: $85,544 (13th highest)
It takes more to rank amidst the top ane% of earners in Illinois than in well-nigh other states. The 56,000 taxpayers in the state who comprise the 1% earn about $91.8 billion cumulatively per year, or 19.two% of all money made in the state. Illinois's wealthiest residents also pay a disproportionately high share of taxes, accounting for 36.ii% of federal income taxes collected in the state.
14. Indiana
• Pinnacle 1% earn at least: $394,398 (eighth lowest)
• Avg. income of the pinnacle one%: $one,000,641 (8th lowest)
• Share of all income earned by the 1%: xiv.viii% (12th lowest)
• Avg. income among all tax filers: $67,732 (9th everyman)
Indiana residents must earn $394,398 annually to rank in the top 1% – the eighth lowest threshold of any state. The average member of the i% in Indiana earns $i.0 one thousand thousand a twelvemonth 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 boilerplate for the 1%.
15. Iowa
• Top 1% earn at least: $402,246 (9th lowest)
• Avg. income of the summit i%: $978,158 (7th lowest)
• Share of all income earned by the ane%: 13.4% (4th lowest)
• Avg. income amidst all tax filers: $73,171 (21st lowest)
The minimum income required to rank among the top 1% of earners in Iowa is $402,246, one of the lowest thresholds amidst states. Across populations, incomes tend to ascension with educational attainment, and in Iowa, just 29% of adults accept a bachelor's degree, below the 32.vi% share of adults nationwide. States with higher income thresholds for the wealthiest 1% also tend to have higher educational attainment.
sixteen. Kansas
• Pinnacle i% earn at least: $450,606 (25th highest)
• Avg. income of the top 1%: $one,173,583 (24th lowest)
• Share of all income earned by the 1%: 15.8% (23rd everyman)
• Avg. income amongst all tax filers: $74,382 (24th everyman)
The threshold for the top 1% of earners in Kansas is $450,606, approximately $88,000 below the national boilerplate. The acme 1% of earners account for fifteen.8% of all income in Kansas and 33.i% of all federal income taxes. Past comparison, the pinnacle i% of earners nationwide account for 20.five% of all income and 38.3% of all federal income taxes.
17. Kentucky
• Top one% earn at least: $377,532 (4th lowest)
• Avg. income of the top 1%: $900,198 (5th lowest)
• Share of all income earned by the 1%: xiv.1% (8th everyman)
• Avg. income among all tax filers: $64,051 (4th everyman)
Kentucky is one of the poorest states in the country, and partially every bit a event, it does not accept as much coin to rank among the state's ane% than it does in much of the U.s.. Kentucky is one of only eight states where an income of less than $400,000 is enough to be in the tiptop one%. Information technology is also one of only seven states where the average annual income amidst the 1% is less than $1 meg.
18. Louisiana
• Pinnacle 1% earn at to the lowest degree: $423,138 (17th everyman)
• Avg. income of the tiptop 1%: $1,066,004 (15th lowest)
• Share of all income earned past the ane%: 16.1% (25th highest)
• Avg. income among all taxation filers: $66,342 (6th everyman)
Revenue enhancement filers in Louisiana need to make at to the lowest degree $423,138 a year to be in the summit 1% of earners, about $116,000 beneath the national threshold. The boilerplate tax filer in the peak 1% in Louisiana earns $i.1 million a year and pays $293,992 in federal income taxes. Past comparing, the boilerplate tax filer in the summit 1% nationwide earns $i.vii million a year and pays $454,943 in federal income taxes.
xix. Maine
• Superlative 1% earn at to the lowest degree: $389,504 (sixth everyman)
• Avg. income of the peak one%: $871,388 (4th lowest)
• Share of all income earned by the ane%: xiii% (tertiary lowest)
• Avg. income among all tax filers: $66,809 (seventh everyman)
Maine is one of only eight states where information technology takes less than $400,000 to be in the top 1% of earners. Cumulatively, the state's one-percenters earn $5.three billion a year, or xiii% of all income, more than double the amount the lesser 25% in the state earn.
20. Maryland
• Height one% earn at least: $532,093 (11th highest)
• Avg. income of the summit 1%: $1,355,956 (19th highest)
• Share of all income earned by the one%: 15.3% (17th lowest)
• Avg. income among all tax filers: $88,763 (9th highest)
Every taxpayer in Maryland who ranks among the top 1% of earners makes over half a meg dollars a year. On average, i-percenters in the country earn nearly $1.4 million annually.
Cumulatively, one-percenters in Maryland earn xv.3% of all income, and they shoulder a disproportionate share of the land'southward taxation burden, accounting for 29.3% of all federal income taxes paid in the state.
21. Massachusetts
• Meridian one% earn at to the lowest degree: $728,272 (2nd highest)
• Avg. income of the top 1%: $ii,582,633 (3rd highest)
• Share of all income earned by the 1%: 23.7% (6th highest)
• Avg. income among all tax filers: $109,082 (2nd highest)
Massachusetts is 1 of the virtually affluent states in the state, with an average income among all taxpayers of $109,082, the third highest of any land. To be in the top 1% of earners, a tax filer in 2018 needed to have an income of at least $728,272, a college threshold than all states but one. 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 available's degree, at 44.5% of adults, compared to a national share of 32.6%.
22. Michigan
• Top i% earn at least: $435,271 (22nd lowest)
• Avg. income of the top 1%: $ane,203,724 (25th lowest)
• Share of all income earned by the 1%: 16.7% (20th highest)
• Avg. income among all taxation filers: $72,227 (19th lowest)
In Michigan, the superlative 1% of earners business relationship for xvi.7% of all income in the state. Meanwhile, the bottom quarter of all earners business relationship for but 3.7% of all earnings. The average income among the wealthiest ane% Michigan residents is $one.2 million – nearly 17 times the average income among all taxpayers in the state of $72,227.
23. Minnesota
• Top ane% earn at least: $522,444 (13th highest)
• Avg. income of the top ane%: $1,399,463 (16th highest)
• Share of all income earned by the one%: 16.3% (23rd highest)
• Avg. income among all tax filers: $85,628 (12th highest)
The income flooring for the superlative 1% of earners in Minnesota is $522,444, nearly in line with the national 1% threshold of $538,926. The peak 1% of earners in Minnesota business relationship for 16.3% of all income in the state and 31.five% of all federal income taxes – lower than the corresponding national shares of 20.five% and 38.3%, respectively.
24. Mississippi
• Top 1% earn at least: $326,182 (2nd everyman)
• Avg. income of the tiptop i%: $751,141 (2nd lowest)
• Share of all income earned by the ane%: 13.4% (fifth lowest)
• Avg. income amid all taxation filers: $55,999 (the everyman)
In Mississippi, the average annual income amongst tax filers is just $55,999, the lowest of any state and approximately $27,000 lower than the national average. Individuals with an almanac income of $326,182 in the country rank in the top 1%, a threshold nigh $213,000 less than the national threshold and the 2nd lowest income floor for the ane% of whatsoever state.
25. Missouri
• Top 1% earn at least: $419,752 (16th lowest)
• Avg. income of the peak 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 lowest)
It takes about $420,000 in almanac income to be among the highest 1% of earners in Missouri, a lower threshold than in nigh states. The average income among one-percenters in the state is $1.1 million, almost sixteen times the boilerplate income of $69,882 among all earners.
26. Montana
• Top i% earn at least: $416,874 (15th lowest)
• Avg. income of the top 1%: $1,066,180 (16th everyman)
• Share of all income earned by the 1%: 15.6% (20th lowest)
• Avg. income among all taxation filers: $68,554 (12th lowest)
The threshold for the acme 1% of income in Montana is $416,874, near $122,000 less than the national figure. Tax filers in the top 1% earn an average of $i.1 million a yr and pay $270,672 in income taxes. By comparison, the top i% of earners nationwide report $i.vii million in income and $454,942 in federal income taxes.
27. Nebraska
• Top i% earn at least: $431,616 (20th lowest)
• Avg. income of the top 1%: $1,123,566 (19th lowest)
• Share of all income earned past the one%: xv.1% (14th lowest)
• Avg. income amidst all tax filers: $74,393 (25th lowest)
The peak 1% of earners in Nebraska make $ix.two billion cumulatively per year, or most xv.1% of all income in the state. Meanwhile, the bottom 25% of earners business relationship for just four.7% of all money earned.
As is the example nationwide, Nebraska's 1% shoulder a disproportionate share of the tax brunt, paying about 32.2% of all income federal taxes collected a yr.
28. Nevada
• Top 1% earn at least: $469,328 (18th highest)
• Avg. income of the acme 1%: $1,864,084 (8th highest)
• Share of all income earned by the 1%: 24.3% (5th highest)
• Avg. income amid all tax filers: $76,757 (21st highest)
While in Nevada the income threshold for the top 1% is $469,326, below the national threshold of $538,926, the boilerplate income among the top one% of earners is $ane.nine meg – above the $i.7 1000000 national boilerplate. The top i% of earners in Nevada business relationship for 24.3% of all income in the state and 45.vi% of all federal income taxes paid, the fifth and 4th largest such shares of any land.
29. New Hampshire
• Elevation ane% earn at to the lowest degree: $510,178 (14th highest)
• Avg. income of the summit 1%: $1,453,974 (14th highest)
• Share of all income earned past the 1%: 16.4% (21st highest)
• Avg. income among all tax filers: $88,867 (8th highest)
The income threshold to be amidst the tiptop ane% of earners in New Hampshire is $510,178, higher than in the bulk of states. The average annual income among i-percenters in the state of $i.5 million is likewise higher than in most states. Beyond populations, incomes tend to rise with educational attainment, and in New Hampshire, 36.8% of adults have a bachelor'due south degree, compared to the 32.vi% share of adults nationwide.
thirty. New Jersey
• Tiptop 1% earn at least: $701,005 (4th highest)
• Avg. income of the top 1%: $2,002,544 (7th highest)
• Share of all income earned past the 1%: xix.six% (10th highest)
• Avg. income among all tax filers: $102,186 (third highest)
New Jersey is one of simply iii states where the average annual income among taxpayers is over $100,000. It takes an annual income of over $700,000 to rank amidst the country's top one% of earners. Additionally, the superlative ane% cumulatively account for nearly 20% of all income in the country.
The land's wealthiest residents besides pay more in income taxes, accounting for most 35% of all federal income tax payments.
31. New United mexican states
• Tiptop 1% earn at least: $341,111 (tertiary everyman)
• Avg. income of the superlative i%: $840,305 (3rd lowest)
• Share of all income earned past the 1%: xiv% (6th lowest)
• Avg. income among all tax filers: $60,109 (3rd everyman)
New United mexican states is one of the everyman-income states in the country, with the average taxpayer earning $lx,109 a year. It too has 1 of the lowest thresholds to exist among the meridian 1% of earners among states at $341,111. In the vast bulk of states, an annual income of at least $400,000 is needed to be among the top 1%.
32. New York
• Acme 1% earn at least: $702,559 (3rd highest)
• Avg. income of the top 1%: $2,894,085 (2nd highest)
• Share of all income earned past the 1%: 29.3% (the highest)
• Avg. income amid all revenue enhancement filers: $98,941 (4th highest)
New York is one of just four states where information technology takes over $700,000 in almanac income to be amid the top one% of earners. The country's loftier threshold is driven upward by New York City, where many of the earth's wealthiest have homes and there is a concentration of high paying jobs. One-percenters in New York earn $2.9 one thousand thousand on average, and their combined earnings account for 29.3% of all income in the state. Meanwhile, the bottom quarter of earners in the country account for just 2.9% of all income.
33. North Carolina
• Top one% earn at least: $453,976 (24th highest)
• Avg. income of the top i%: $1,131,863 (22nd lowest)
• Share of all income earned past the i%: 16% (25th lowest)
• Avg. income among all revenue enhancement filers: $70,705 (17th lowest)
The elevation 1% of earners in North Carolina earn at least $453,976, which is nearly the centre of the 50 states. Collectively, the land'south top ane% of earners account for about one-third of the state's full income, which is also in the middle of all states. Nationwide, the top 1% of earners account for 38.3% of the national's full income.
34. N Dakota
• Top ane% earn at least: $462,352 (21st highest)
• Avg. income of the height 1%: $one,131,705 (21st everyman)
• Share of all income earned by the 1%: 14.3% (10th lowest)
• Avg. income amongst all tax filers: $79,305 (16th highest)
Due north Dakota has a more even distribution of income compared to other states. The peak 25% of earners in North Dakota state business relationship for 78.5% of the land'south full Federal income taxes paid, the everyman share of any land. The land 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
• Superlative i% earn at least: $412,919 (12th lowest)
• Avg. income of the top ane%: $i,020,320 (10th everyman)
• Share of all income earned by the 1%: 14.eight% (13th lowest)
• Avg. income amidst all tax filers: $68,950 (15th lowest)
It takes an almanac income of at to the lowest degree $412,919 to be among the summit 1% of earners in Ohio, a lower threshold than in most states. Across populations, incomes tend to rising with educational attainment, and in Ohio, just 29% of adults have a available's caste, beneath the 32.6% share of adults nationwide. States with a higher peak 1% income threshold as well tend to have higher educational attainment.
36. Oklahoma
• Height i% earn at least: $424,529 (18th lowest)
• Avg. income of the top 1%: $1,117,765 (18th lowest)
• Share of all income earned by the 1%: xvi.4% (22nd highest)
• Avg. income among all revenue enhancement 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 boilerplate almanac income is $1.i million, most 16 times the average income beyond all taxpayers in the state. Cumulatively, ane-percenters in Oklahoma account for 16.four% of all income in the country, while the bottom 25% account for simply simply four.ii% of income.
37. Oregon
• Top 1% earn at least: $465,936 (20th highest)
• Avg. income of the top 1%: $1,207,272 (25th highest)
• Share of all income earned by the 1%: 15.vii% (21st everyman)
• Avg. income among all taxation 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 one%. The average earner in the ane% in Oregon has a reported income of $one.2 million, compared to the $ane.7 1000000 nationwide average.
38. Pennsylvania
• Tiptop 1% earn at least: $491,997 (16th highest)
• Avg. income of the summit ane%: $one,329,913 (20th highest)
• Share of all income earned by the 1%: 17% (19th highest)
• Avg. income among all tax filers: $78,385 (19th highest)
The average almanac income among the top 1% of earners in Pennsylvania – those earning at least $465,936 per twelvemonth – is $1.three one thousand thousand. Meanwhile, the average almanac income amid all taxpayers in the state is $78,385.
Though one-percenters earn 17% all income in Pennsylvania, they pay over ane-third of all federal income taxes in the state.
39. Rhode Isle
• Pinnacle ane% earn at to the lowest degree: $457,372 (22nd highest)
• Avg. income of the top 1%: $i,214,783 (24th highest)
• Share of all income earned past the ane%: 15.ix% (24th lowest)
• Avg. income amidst all tax filers: $76,632 (22nd highest)
In Rhode Isle, the income floor for the height 1% of earners is $457,372, nearly $82,000 less than the national income threshold of $538,926. Rhode Island i-percenters account for fifteen.ix% of all income in the state and 31.2% of all federal income taxes paid. By comparison, the top one% of earners nationwide business relationship for twenty.5% of all income and 38.3% of all federal income tax.
40. Southward Carolina
• Top 1% earn at least: $415,810 (14th lowest)
• Avg. income of the height 1%: $one,034,585 (12th lowest)
• Share of all income earned by the 1%: 15.four% (18th lowest)
• Avg. income among all tax filers: $67,102 (eighth lowest)
To be one of the top 1% earners, a South Carolina resident would need to have an almanac income of $415,810, the 14th lowest threshold among states. There is a steep dropoff in income between the state's hyper-wealthy and those who are "just" very wealthy. To be in the top 5% of earners, i needs to accept an income of at to the lowest degree $183,102.
41. South Dakota
• Acme 1% earn at least: $455,582 (23rd highest)
• Avg. income of the pinnacle ane%: $1,263,238 (21st highest)
• Share of all income earned by the 1%: 17% (18th highest)
• Avg. income among all tax filers: $74,418 (25th highest)
South Dakota residents earning $455,582 per year or more are amidst 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 business relationship for but 0.six% of all income.
42. Tennessee
• Height 1% earn at least: $441,531 (24th lowest)
• Avg. income of the peak 1%: $1,227,645 (23rd highest)
• Share of all income earned by the 1%: 17.8% (14th highest)
• Avg. income amid all revenue enhancement filers: $68,944 (14th lowest)
Tennessee residents who earn at to the lowest degree $441,531 are among the top one% of earners in the state. The boilerplate income among the state's one-percenters is $1.2 one thousand thousand, a higher average than in most states. Cumulatively, the country's ane-percenters earn 17.8% of all income. Meanwhile, the lesser 25% earn just 0.3% of all income.
43. Texas
• Top 1% earn at least: $550,748 (tenth highest)
• Avg. income of the top 1%: $ane,806,554 (9th highest)
• Share of all income earned by the 1%: 22.1% (eighth highest)
• Avg. income amid all taxation filers: $81,734 (15th highest)
While the boilerplate almanac income amid all tax filers in Texas is about the same equally the average nationwide – at $81,734 compared to $82,535, respectively – the top 1% of earners are amid the wealthiest of any state. The income threshold for the superlative 1% in Texas is $550,748, the 10th highest of any state. The average income of those in the top ane% is $one.8 million, higher than the $1.seven million national average and the ninth highest of whatever state.
44. Utah
• Top ane% earn at least: $469,198 (19th highest)
• Avg. income of the summit 1%: $1,380,676 (18th highest)
• Share of all income earned by the i%: 17.5% (16th highest)
• Avg. income among all tax filers: $78,979 (17th highest)
The income threshold to rank in the summit 1% of earners in Utah is $469,198, about $70,000 less than the national threshold. The boilerplate one-percenter in Utah earns $1.iv million a year, less than the $1.7 1000000 national average.
45. Vermont
• Meridian 1% earn at least: $407,661 (11th lowest)
• Avg. income of the top 1%: $1,024,754 (11th lowest)
• Share of all income earned by the i%: 14.iv% (11th everyman)
• Avg. income among all tax filers: $71,068 (18th lowest)
While Vermont is ane of the most educated states – 38.seven% of adults accept a available's caste, the 7th largest share – incomes in the country are relatively low. The average revenue enhancement filer earns $71,068 a yr, approximately $11,000 less than the national average. To authorize for the summit 1%, an individual would need to brand at least $407,661 a twelvemonth, about $131,000 less than the national cutoff for the 1%.
46. Virginia
• Top 1% earn at least: $529,094 (twelfth highest)
• Avg. income of the top 1%: $1,390,139 (17th highest)
• Share of all income earned by the i%: 15.vii% (22nd lowest)
• Avg. income among all tax filers: $88,486 (tenth highest)
While Virginia is one of the wealthiest states – the average income among taxation filers is $88,486 compared to a national average of $82,535 – the threshold for the 1% is lower than it is for the United States equally a whole. The income flooring for the ane% in Virginia is $529,094, approximately $x,000 less than the national figure of $538,926.
47. Washington
• Top 1% earn at least: $585,748 (6th highest)
• Avg. income of the top 1%: $1,756,011 (tenth highest)
• Share of all income earned by the 1%: 18.7% (13th highest)
• Avg. income among all revenue enhancement filers: $94,129 (6th highest)
Washington is i of the wealthiest states in the country. The average annual income amongst tax filers is $94,129, nigh $12,000 more the national average income and sixth highest of any land. To be considered in the meridian 1% of earners, individuals must accept a reported income of at to the lowest degree $585,748 – more than the national boilerplate of $538,926 and the sixth highest threshold of any land.
48. W Virginia
• Top 1% earn at least: $318,831 (the everyman)
• Avg. income of the top 1%: $651,628 (the everyman)
• Share of all income earned by the 1%: 11.1% (the lowest)
• Avg. income among all tax filers: $58,481 (2nd lowest)
Westward Virginia is one of the poorest states in the country. Some 17.viii% of residents alive in poverty, the fourth highest poverty rate nationwide, and the average taxation filer has a reported income of $58,481, the 2d lowest of any state. To be considered amongst the top 1% of earners in West Virginia, individuals need an income of $318,831 – approximately $220,000 less than the national figure and the everyman threshold of whatsoever country.
49. Wisconsin
• Summit i% earn at least: $428,490 (19th lowest)
• Avg. income of the tiptop i%: $ane,125,867 (20th lowest)
• Share of all income earned by the one%: 15.2% (15th lowest)
• Avg. income among all taxation filers: $74,199 (22nd everyman)
In Wisconsin, individuals demand to earn at $428,490 to rank in the top one% of earners, about $110,000 less than the national threshold of $538,926. The average annual income among tax filers in the top 1% is $one.1 million, far less than the $i.7 million national figure.
fifty. Wyoming
• Top one% earn at least: $478,292 (17th highest)
• Avg. income of the superlative 1%: $2,501,169 (fourth highest)
• Share of all income earned by the 1%: 27.6% (3rd highest)
• Avg. income among all tax filers: $xc,663 (7th highest)
To rank in the superlative 1% of earners in Wisconsin, individuals demand to brand $478,292 a year – approximately $60,000 less than the national threshold of $538,926. While the threshold is lower, the state's ane-percenters are wealthier than the superlative 1% of earners in almost states. The average one-percenter in Wyoming earns $2.v million a year, far more than the $i.7 million national average and the fourth most of any land.
Methodology
To determine how much you need to make to be in the 1% in every state, 24/7 Wall St. reviewed adjusted gross income percentile information for the 2017 taxation twelvemonth from the IRS. We also calculated the boilerplate incomes and boilerplate income taxes for earners in the top 1% using total adjusted gross income, total federal income taxes, and number of returns information from the IRS.
All income data was adjusted for inflation using consumer price alphabetize data for 2017 and 2019 from the U.S. Bureau of Labor Statistics.
Supplemental data on median income for all earners xvi and over, the percentage of adults with at least a bachelor's caste, and the poverty rate came from the U.Due south. Census Bureau's 2018 American Community Survey.
24/vii Wall Street is a USA TODAY content partner offering financial news and commentary. Its content is produced independently of USA TODAY.
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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