To Join California’s Top 1 Percent, a Household Must Earn More Than $1 Million per Year

To rank in the upper echelon of income earners in California, individuals need to bring home more than $1 million annually, a study released July 17 by financial website Go Banking Rates found.
With a population of slightly more than 39 million people, and nearly 20 million income tax returns filed in 2022 for the 2021 tax year, about 200,000 California households make more than $1 million per year, according to the study—which adjusted the amounts earned to 2024 dollars to account for inflation.
Researchers expected the West Coast to rank the highest, but said that “surprisingly,” two Northeast states had a higher threshold for reaching the top 1 percent: Connecticut and Massachusetts….