how much money is taken out of my paycheck in massachusetts?
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Massachusetts is a flat tax state that charges a tax rate of 5.05%. That goes for both earned income (wages, salary, commissions) and unearned income (interest and dividends). No Massachusetts cities charge their own local income tax.
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The amount of FICA tax is 15.3% of the employee's gross pay. Half of the total (7.65%) is withheld from the employee's paycheck, and half is paid by the employer. For the employee above, with $1500 in weekly pay, the calculation is $1500 x 7.65% (. 0765) for a total of $114.75.
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How Long Do I Have to Work For to Collect Unemployment in Massachusetts? Massachusetts defines an employer as having paid at least $1,500 in wages during any quarter of the base period or having had an employee/employees for at least 13 weeks out of the base period.
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The 2018 average total monthly premium in Massachusetts was $617 for single coverage and $1,687 for family coverage, according to a report released Wednesday by the Center for Health Information and Analysis. The 2016 average monthly premium was $538 for single coverage and $1,487 for family coverage.
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Maine generally imposes an income tax on all individuals that have Maine-source income. The income tax rates are graduated, with rates ranging from 5.8% to 7.15% for tax years beginning after 2015. The rates ranged from 0% to 7.95% for tax years beginning after December 31, 2012 but before January 1, 2016.
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11.16% on the portion of your taxable income that is more than $87,813 but not more than $150,000 plus. 12.16% on the portion of your taxable income that is more than $150,000 but not more than $220,000, plus. 13.16% on the portion of your taxable income that is more than $220,000.
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That means you pay a total of $9,057.50 in income tax. $40,942.50 is yours to keep. Now, if you got a raise and made $60,000 in taxable income, then $7,550 is taxed at 10%, $23,100 is taxed at 15%, and the rest, $29,350, is taxed at 25%.
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['New Jersey: $8,780.', 'Connecticut: $7,222.', 'New York: $6,947.', 'New Hampshire: $6,253.', 'Massachusetts: $6,019.', 'District of Columbia: $5,480.', 'Rhode Island: $5,368.', 'California: $5,354.']
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If you make $60,000 a year living in the region of Maryland, USA, you will be taxed $13,503. That means that your net pay will be $46,497 per year, or $3,875 per month. Your average tax rate is 22.51% and your marginal tax rate is 34.40%.
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Massachusetts law allows employers to claim a tip credit. In 2020, employers must pay tipped employees at least $4.95 an hour. This means employers may take a tip credit of up to $7.80, as long as the employee's tips bring the total hourly wage up to $12.75.
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Clothing and footwear priced $175 or less per item/pair are generally exempt from Massachusetts sales tax use tax. Sales tax applies to any individual clothing item or pair of shoes priced above $175.
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Massachusetts Property Taxes Tax rates are set locally by cities and towns in Massachusetts, with total rates generally ranging from 1% to 2% (10 to 20 mills). Incorporating all areas, the state's average effective tax rate is 1.22%. This is above the national average, which is 1.08%.
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When calculating your take-home pay, the first thing to come out of your earnings are FICA taxes for Social Security and Medicare. Your employer withholds a 6.2% Social Security tax and a 1.45% Medicare tax from your earnings after each pay period. If you earn over $200,000, you'll also pay a 0.9% Medicare surtax.
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Under Ohio law, a creditor seeking to garnish your wages may not take your entire paycheck. The maximum amount that may be deducted from each paycheck is 25 percent of your net take home (what is left after paying taxes and other deductions).
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When calculating your take-home pay, the first thing to come out of your earnings are FICA taxes for Social Security and Medicare. Your employer withholds a 6.2% Social Security tax and a 1.45% Medicare tax from your earnings after each pay period.
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The amount of FICA tax is 15.3% of the employee's gross pay. Half of the total (7.65%) is withheld from the employee's paycheck, and half is paid by the employer. For the employee above, with $1500 in weekly pay, the calculation is $1500 x 7.65% (.
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Reinstatement fees are determined by Massachusetts General Laws, Chapter 90, Section 33. They range from $100.00 to $1200.00.