How Much Money Gets Taken Out of Paychecks in Every State
See where you can keep most of your paycheck thanks to fewer tax withholdings.
by Andrew DePietro, GoBankingRates, February 20, 2017 (excerpt)
Taxes can take a major bite out of your hard-earned money when payday comes, especially if you live in a state where tax withholdings go beyond the usual salary deductions such as federal taxes, state income tax, Medicare and the like. Depending on where you live, you could be taking home a lot more money per paycheck. But what are the best states for living richer?
GOBankingRates examined all 50 U.S. states and Washington, D.C., to determine how much you can expect to earn per paycheck based on a $50,000 salary and a $100,000 salary. From Federal Insurance Contributions Act taxes (FICA) to Family Leave Insurance (FLI), find out how much of your paycheck gets taxed so you can be smarter about how you use it.
States That Take the Most Out of Your Paycheck
The top-five states that take the most money out of your paycheck with a $50,000 salary are:
- Hawaii ($542.24 withholding)
- Oregon
- Idaho
- South Carolina
- Minnesota
If you're earning a salary of $100,000, however, the top-five list has a slightly different line-up:
- Oregon
- California
- Hawaii ($1,324.69 withholding)
- Idaho
- Washington, D.C.
If you earn $50,000, then based on a biweekly pay cycle, you earn $1,923.08 per paycheck before taxes. If you earn $100,000, then you make $3,846.15 per paycheck. Bear that in mind and take a look at the most taxing and least taxing states on your paycheck.
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