Being in the top 1% of earners in D.C. requires $161,141 more than it did five years ago.
That’s according to data from the Internal Revenue Service, which shows the cutoff for each adjusted gross income by percentile in each state. The data is based on the 2020 tax year and percentiles are based on total tax filers, so they don’t distinguish by marital or household status.
In D.C., the cutoff for being in the top 1% of earners was $871,923 in 2020. That ranks the District at the top of the list of 50 states and D.C. — and it’s a 22.7% jump from five years ago, when the cutoff was $710,782.
In Virginia, ranked No. 13, you needed to earn $553,800 in 2020 to be in the top 1%. Maryland, ranked just behind Virginia, had a minimum salary of $544,756. Those numbers are up 17.1% and 12.8%, respectively, since 2015.
Nationally, the cutoff to be in the top 1% of earners is $561,351 which is up 16.5% from 2015’s cutoff of $482,050. The cutoff for the top 25% of earners nationally was $87,946 in 2020, which was up 9% from 2015.