Here's how much you need to earn to be in the top 1% in your state and nationwide
Have you ever wondered where your income ranks in your state or how to be in the top 1% of annual income?
In the USA, a family must earn an income of $597,815 to be in the top 1% of earners, according to a study by Smart Asset. But the income and rankings vary per state.
In Connecticut, a family needs almost $900,000 to be in the top 1%, while in West Virginia a family needs $350,000.
Smart Asset analyzed income data from the Internal Revenue Service and Bureau of Labor Statistics. The analysis found coastal states have the highest 1% income threshold, and Connecticut holds the highest income requirement to earn in the top 1%.
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Here's how the top 1% income varies per state:
Highest top 1% income
Connecticut. To earn your spot among the top 1% in the state, you’ll need to make at least $896,490.
Massachusetts. These Bay State residents need to earn $810,256 annually.
New York. To rank among the top 1%, you must earn $777,126.
New Jersey. One-percenters earn $760,462.
California. In this state, the top 1% earn about $745,314 annually.
Lowest top 1% income
West Virginia. To make it into the top 1%, you need to earn $350,212.
Mississippi. You need to earn $361,462 annually.
New Mexico. Residents must make $384,427.
Arkansas. To make it into the top 1%, you must earn $411,633.
Kentucky. In this state, the top 1% earns $412,836.
Follow Gabriela Miranda on Twitter: @itsgabbymiranda
This article originally appeared on USA TODAY: What you need to earn to make it in the top 1% in your state