The ceiling threshold to be part of Kansas and Missouri’s top one percent earnings group has increased from last year, a recent study shows.
The 2023 edition of Smart Asset’s, What It Takes to Be in the Top 1% by State, shows the corporate ladder for our two neighboring states just got a bit longer to climb.
Kansas now has a threshold of $539K needed earings to break the top 1 percent floor, a 7.6 percent increase from last year’s amount of $501K.
Missouri too showed an increase in its threshold. For 2023, a Missouri resident’s needed income would have to come in at $501.2K to break into the top 1 percent. An increase of about 6.6 percent compared to the 2022 threshold of $470K.
The study also shows thresholds for states top 5 percent as well. The 5 percent floor for Kansas is $231.9K while Missouri’s is $218.6K.
For reference, the state with the highest top 1 percent floor is Connecticut coming in at $955.3K and the lowest floor, West Virginia, comes in at $374.7K.
Posted May 25, 2023