What you need to make to be in Massachusetts' 1%

You need to earn close to $1 million a year to be in Massachusetts' 1% club.

Driving the news: Bay State workers who make $903,401 or more are considered in the top 1% of earners, according to a new SmartAsset analysis of IRS tax filer data.

• The national average is nearly 28% less — $652,657.
• Massachusetts is the second richest state by this standard. Connecticut's on top at $952,902.

Zoom out: The median household income in Massachusetts is $89,645, per census data.

• It's $79,283 in Boston and $112,764 in Middlesex County.

The intrigue: The poorest 1%-ers in the state probably won't have to pay the new 4% income surtax since it only affects income over $1 million a year.

• Call it that $950k sweet spot.

The big picture: The top 1% of U.S. families had more than one third of the total wealth in the U.S. in 2019. That's up from 27% in 1989, according to the Congressional Budget Office.

• Families in the entire bottom half of the earning spectrum held just 2% of the country's wealth.