South Dakota Ranks Sixth For Earning Potential In The Nation

When it comes to earning money, South Dakota is one of the best places in America to rake in the dough.

According to a new study by Affordable Contractors Insurance, the Mount Rushmore State is the sixth-best state in the nation for the highest earning potential for employees.

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To come to that conclusion, the study looked at each state’s median wages and salaries, as well as the cost of living. It also considered factors like state income tax rates, employment rates, labor force participation, urbanization rate, and the Gini coefficient, which evaluates income equality.

All of these were combined to create an “earning potential” index.

The two biggest factors working in South Dakota's favor were no state income tax and the strongest workforce in the country, with 98.1% of residents employed.

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STATES WITH THE HIGHEST EARNING POTENTIAL FOR EMPLOYEES

1. Florida
2. Colorado
3. Washington
4. North Dakota
5. Texas
6. South Dakota
7. Utah
8. Alaska
9. New Hampshire
10. Montana

In the U.S., workers in the top 10% of states earn nearly twice as much as those in the bottom 10%.