Have you ever wondered how much it would take to be considered the 1% in Arizona?
A new study by SmartAsset shows how much the richest people in each state filed on their 2022 taxes, revealing what the richest Arizonans make each year.
Using the 2022 IRS tax return data, SmartAsset estimated what it takes to be the richest Arizonan and how many residents have met that threshold by evaluating the 2022 tax returns and using personal income growth data to estimate what the 1% looks like in 2026.
The study shows what the minimum income is to be considered the 1%, 5% and 10% in Arizona and across the U.S. and how many people are actually in those 1% categories.
What does the top 1% look like in Arizona?
According to SmartAsset, you would have to make $705,747 a year to be among Arizona's top 1%
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Only 31,872 tax returns filed in Arizona push their filers into that top 1% category. Although $705,747 a year seems like a lot, 24 other U.S. states have a higher-earning 1% population.
Arizona's top 5% makes at least $287,644 a year and the top 10% makes at least $199,573 a year.
Who has the richest 1% in the country?
According to SmartAsset, the area with the highest threshold to be in the top 1% is Washington, D.C. You must make at least $1,156,664.
Here's how much you'd have to make to be in the 1% of the top ten richest 1% states:
District of Colombia: $1,156,664
Connecticut: $1,147,898
Massachusetts: $1,006,921
California: $987,325
New Jersey: $969,976
New York: $959,562
Florida: $956,449
Washington: $903,303
Colorado: $828,772
Wyoming: $819,014
