Row Level Formula using a picklist

I am trying to create a row level formula using a picklist. I can get the formula below to work when using text only field, but not a picklist. 

IF(Account.ShippingState = 'Indiana',100,

IF(Account.ShippingState = 'Florida', 75,

0))

Eventually I would need this formula to work for all of the states, but started with just two to try to make it work. The goal is to get this formula to work to accurate show quarterly goals compared to record count by state as shown in this screenshot. I cannot use the text only field (shipping state/province text only) as that is not a field we use regularly. 

#Formulas