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    • How much do the top 1% pay in Ohio in taxes? See where the state ranks
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    How much do the top 1% pay in Ohio in taxes? See where the state ranks

    Madoc Meredith Posted on

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    If you’re anxious about looking at your income tax bracket, you’re probably not alone.

    The top 1% of earners in the United States pay 45% of all income tax collected, more than most Americans. However, the amount is not the same in every state.

    According to a SmartAsset study, some states may be more dependent on this population than on other taxpayers.

    So how much do the top 1% pay in taxes in each state? Where does Ohio rank in this list? Let’s take a look.

    Ohio ranks 12th in the amount of taxes paid by the top 1%

    SmartAsset examined 2021 IRS tax return data to determine the amount of taxes the top 1% of income earners paid in each state. The study provided results in four categories: total income tax collected by the top 1%, average tax rate for the top 1%, share of total income tax paid by the top 1%, and income tax rate of the average taxpayer.

    Ohio ranks 12th in the U.S. in the amount of taxes paid by the top 1%, with nearly $22 billion in taxes collected from top earners in 2021.

    Here are the five states with the highest taxes paid by the top 1%:

    1. California: 165 billion US dollars
    2. new York: 99.1 billion US dollars
    3. Florida: 91.9 billion US dollars
    4. Texas: 81.4 billion US dollars
    5. Illinois: 40.2 billion US dollars

    Ohio’s tax rate for the top 1% is one of the highest in the U.S.

    Ohio’s tax rate for the top 1% is 25.4%, which ranks 10th in the nation. According to SmartAsset, North Carolina and Tennessee have the same average tax rate for the top 1%.

    Meanwhile, the study finds that the average taxpayer in Ohio pays an income tax rate of 12.8%, one of the lowest rates in the country.

    Overall, the top 1% of Ohio taxpayers pay 39.1% of the state’s total income taxes.

    The 15 states that receive the most income tax revenue from the top 1%

    Here are the top 15 states by the amount of taxes the top 1% pays, according to SmartAsset. Michigan and Pennsylvania, Ohio’s neighbors to the north and east, respectively, are also in the top 15:

    1. California
    2. new York
    3. Florida
    4. Texas
    5. Illinois
    6. Massachusetts
    7. Pennsylvania
    8. New Jersey
    9. Washington
    10. Georgia
    11. Virginia
    12. Ohio
    13. North Carolina
    14. Connecticut
    15. Michigan
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    Madoc Meredith
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