Special Report

How Much You Need to Make to Be in the 1% in Every State

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41. South Dakota
> Top 1% earn at least: $455,582 (23rd highest)
> Avg. income of the top 1%: $1,263,238 (21st highest)
> Share of all income earned by the 1%: 17.0% (18th highest)
> Avg. income among all tax 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 state cumulatively account for 17% of all income. Meanwhile, the bottom 25% of earners account for just 0.6% of all income.

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42. Tennessee
> Top 1% earn at least: $441,531 (24th lowest)
> Avg. income of the top 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 state. The average income among the state’s one-percenters is $1.2 million, a higher average than in most states. Cumulatively, the state’s one-percenters earn 17.8% of all income. Meanwhile, the bottom 25% earn just 0.3% of all income.

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43. Texas
> Top 1% earn at least: $550,748 (10th highest)
> Avg. income of the top 1%: $1,806,554 (9th highest)
> Share of all income earned by the 1%: 22.1% (8th highest)
> Avg. income among all tax filers: $81,734 (15th highest)

While the average annual income among all tax filers in Texas is about the same as the average nationwide — at $81,734 compared to $82,535, respectively — the top 1% of earners are among the wealthiest of any state. 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 $1.8 million, higher than the $1.7 million national average and the ninth highest of any state.

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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 by the 1%: 17.5% (16th highest)
> Avg. income among all tax filers: $78,979 (17th highest)

The income threshold to rank in the top 1% of earners in Utah is $469,198, about $70,000 less than the national threshold. The average one-percenter in Utah earns $1.4 million a year, less than the $1.7 million national average.

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45. Vermont
> Top 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 1%: 14.4% (11th lowest)
> Avg. income among all tax filers: $71,068 (18th lowest)

While Vermont is one of the most educated states — 38.7% of adults have a bachelor’s degree, the seventh largest share — incomes in the state are relatively low. The average tax filer earns $71,068 a year, approximately $11,000 less than the national average. To qualify for the top 1%, an individual would need to make at least $407,661 a year, about $131,000 less than the national cutoff for the 1%.

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