How much do the top 1% earn in California?

LOS ANGELES - Are you a 1 percenter?

If you live in California, you'll need to earn a minimum income of $745,314 to be considered among the top 1% of earners, according to SmartAsset.com. 

Data from SmartAsset reveals the nation's top 1% earners can be found on the coasts - both East and West - where America's major cities are located.

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But if you're thinking California is home to the top 1% earners, think again! 

The state with the highest threshold for 1% earners is Connecticut, where you'd need to make $896,490. Massachusetts comes in second at $810,256, New York at $777,126, and then New Jersey at $760,462.

The study is based on IRS income data from 2018, with numbers adjusted to 2021 dollars using the Consumer Price Index from the Bureau of Labor Statistics.

Here's how much you would need to make the top 1% in the bottom five states: West Virginia ($350,212), Mississippi ($361,462), New Mexico ($384,427), Arkansas ($411,633) and Kentucky ($412,836).

Top earners pay a share of at least 25% of the total income tax in their states.

For more on the study, tap or click here. 

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