Bring in at least $501,914 in yearly income, and you’ll be among the top 1 percent of earners in Georgia, according to a 24/7 Wall St. analysis of the ultra wealthy in every state.
The $501,914 threshold was the 15th highest among the 50 states, according to the analysis. The average income for the top 1 percent in the state is $1,420,732, and the share of all income in the state earned by the top 1 percent is 19 percent, 24/7 Wall St. reported.
24/7 Wall St. examined data published by the Internal Revenue Service for the 2017 tax year to calculate the minimum income level to be in the top 1 percent of earners in each state. States that have large shares of college-educated adults tend to have higher income thresholds to reach the top 1 percent, the analysis said.
Nationwide, in order to be in the top 1 percent of income earners, a person has to earn $538,926 annually, according to 24/7 Wall St. A total of 1.4 million taxpayers meet this threshold, the study says, and their average yearly income is $1.7 million, or 20 times the average earned by all U.S. taxpayers, according to the website.
—
State-by-State: Minimum Income to Reach Top 1 Percent
Rank State Earnings Threshold to Reach Top 1% Average Income for Top 1% Share of All Income Earned by Top 1% Average Income Among All Tax Filers in State 1 Connecticut $827,194 $3,060,989 27.0% $113,570 2 Massachusetts $728,272 $2,582,633 23.7% $109,082 3 New York $702,559 $2,894,085 29.3% $98,941 4 New Jersey $701,005 $2,002,544 19.6% $102,186 5 California $659,503 $2,195,775 23.0% $95,494 6 Washington $585,748 $1,756,011 18.7% $94,129 7 Florida $581,682 $2,347,180 28.4% $82,535 8 Colorado $563,672 $1,554,182 17.6% $88,153 9 Illinois $558,831 $1,639,367 19.2% $85,544 10 Texas $550,748 $1,806,554 22.1% $81,734 11 Maryland $532,093 $1,355,956 15.3% $88,763 12 Virginia $529,094 $1,390,139 15.7% $88,486 13 Minnesota $522,444 $1,399,463 16.3% $85,628 14 New Hampshire $510,178 $1,453,974 16.4% $88,867 15 Georgia $501,914 $1,420,732 19.0% $74,744 16 Pennsylvania $491,997 $1,329,913 17.0% $78,385 17 Wyoming $478,292 $2,501,169 27.6% $90,663 18 Nevada $469,328 $1,864,084 24.3% $76,757 19 Utah $469,198 $1,380,676 17.5% $78,979 20 Oregon $465,936 $1,207,272 15.7% $76,998 21 North Dakota $462,352 $1,131,705 14.3% $79,305 22 Rhode Island $457,372 $1,214,783 15.9% $76,632 23 South Dakota $455,582 $1,263,238 17.0% $74,418 24 North Carolina $453,976 $1,131,863 16.0% $70,705 25 Kansas $450,606 $1,173,583 15.8% $74,382 26 Arizona $448,795 $1,235,517 17.0% $72,696 27 Tennessee $441,531 $1,227,645 17.8% $68,944 28 Delaware $440,228 $1,069,994 14.1% $76,151 29 Michigan $435,271 $1,203,724 16.7% $72,227 30 Alaska $433,070 $934,419 11.9% $78,641 31 Nebraska $431,616 $1,123,566 15.1% $74,393 32 Wisconsin $428,490 $1,125,867 15.2% $74,199 33 Oklahoma $424,529 $1,117,765 16.4% $68,348 34 Louisiana $423,138 $1,066,004 16.1% $66,342 35 Missouri $419,752 $1,136,765 16.3% $69,882 36 Montana $416,874 $1,066,180 15.6% $68,554 37 South Carolina $415,810 $1,034,585 15.4% $67,102 38 Hawaii $414,599 $1,044,728 14.1% $74,204 39 Ohio $412,919 $1,020,320 14.8% $68,950 40 Vermont $407,661 $1,024,754 14.4% $71,068 41 Idaho $407,393 $1,043,184 15.2% $68,702 42 Iowa $402,246 $978,158 13.4% $73,171 43 Indiana $394,398 $1,000,641 14.8% $67,732 44 Alabama $390,066 $1,011,643 15.5% $65,249 45 Maine $389,504 $871,388 13.0% $66,809 46 Arkansas $377,895 $1,483,488 21.9% $67,841 47 New Mexico $341,111 $840,305 14.0% $60,109 48 Kentucky $337,532 $900,198 14.1% $64,051 49 Mississippi $326,182 $751,141 13.4% $55,999 50 West Virginia $318,831 $651,628 11.1% $58,481
Source: 24/7 Wall St.
