How Much Do '1 Percenters' Make In Minnesota?

MINNESOTA — If you want to be a part of the "1 percent" of Minnesota, you'll need to make at least $625,000 a year.

That's according to a SmartAsset analysis of IRS tax data, which found that Minnesota's 1 percent ranks No. 16th in the nation.

South and North Dakota aren't far behind, ranking 18th and 20th, respectively. The one percent of both states earn at least $585,000.

Minnesota's eastern neighbor of Wisconsin ranks 34th, with $517,321 needed to be in the top percent of earnings. Iowa lands at 41st, with $483,985 needed to be in the 1 percent.

Minnesota has a 25.53 percent tax rate for the 1 percenters, the highest of its immediate neighbors. South Dakota has the lowest among them, at 22.99 percent.

Connecticut is home to the nation's highest 1 percent threshold of $952,902. One percenters there face a tax rate of 28.40 percent.

According to a separate SmartAsset analysis, a single Minneapolis resident needs to make at least $93,000 to simply "live comfortably."