Colorado last year had the 8th highest per capita personal income in the nation, according to a new report.

Per capita personal income in the state was $39,186, a 4.5 percent increase from the prior year when the state ranked 7th, the Bureau of Economic Analysis said in its report.

The BEA calculates the figure by taking the sum of all Colorado income and dividing it by the population. Income includes everything from salaries to dividend, interest and rental income.