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Just came across some interesting tax data and the breakdown by state is wild. Turns out the top 1% of earners are basically funding public services in certain states, with their income tax contributions ranging from a few billion to over 100 billion depending on where they live.
What caught my attention is which state has the highest income tax share from top earners. Wyoming takes the crown at 54.7% of all federal income tax coming from just the top 1%, even though the total amount is only about 2.5 billion. Meanwhile, Florida sits at 53.6% and Nevada at 51.1%. The real money though? California, Florida, Texas and New York each see over 50 billion in income tax from their top 1%.
California leads with 122 billion total, Florida with 96 billion, Texas at 81 billion and New York at 79 billion. But here's the thing - California's top 1% only pays 38.6% of the state's income tax despite that massive number. The highest income tax burden percentage comes from smaller states like Wyoming and Florida.
The average tax rate for these top earners hovers around 23-28% across most states. Some interesting patterns emerge when you look at which state has the highest income tax concentration - it's not always the wealthiest states by population.
Makes you think about how wealth distribution and state tax policy really work. The top earners are clearly carrying a huge load, but the actual percentage varies wildly depending on where you look.