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.
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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.
