It depends on many, many things...not the least of which is what you consider tax. Many people group all their withholdings as a type of tax, but many may not be. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax.
The amount (or percentage) of income tax withheld also depends on many other things...obviously which state (or even city) your in (although that may be a surprisingly small variable), the amount of income your projected on earning over the year (because that helps determine your tax bracket and the percent that may be needed), as well as your filing status, number of dependents and other deductions. And other possible income. And some things are taken out as a straight percentage up to a certain amount of income being earned in a year, and then stop (like FICA). All these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to.
Finally, there are a number of different legal ways for the payroll provider to calculate certain aspects of the amount to withhold...but overall they make only a small difference.
Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty). Again, adjusting your W-4 is the way to correct for any of these circumstances.
IN SUMMARY, THERE I NO SET AMOUNT - 2 PEOPLE WORKING AT THE SAME JOB CAN & FREQUENTLY DO HAVE VERY DIFFERENT AMOUNTS WITHHELD....IT IS TOTALLY IN YOUR CONTROL.
The percentage of taxes taken out of a paycheck depends on the number of exemptions you are allowed to claim. The average amount taken out is 15% or more for deductions including social security and income tax.
Alot
No
it would depend on the state
I won a lottery ticket in Wisconsin, worth $10,000, how much federal and state tax will be taken out?
The percentage of taxes taken out of a paycheck depends on the number of exemptions you are allowed to claim. The average amount taken out is 15% or more for deductions including social security and income tax.
mississippi
Alot
Those are amounts taken out of your paycheck that do not reduce the amount of tax you have to pay on your salary.
No
That depends on which state you live in, as well as other variables such as gross income, number of exemptions claimed, local or municipal taxes, etc.
Enough. This ain't Texas. But looking at my latest paycheck, 4.65 percent went to city and state. That's with 2 allowances. Then there's the 8.875 percent sales tax.
it would depend on the state
I won a lottery ticket in Wisconsin, worth $10,000, how much federal and state tax will be taken out?
The percentage that is taken out of your paycheck depends on your exemptions and the amount of money you make. Generally, around 15% is taken out of each paycheck and held for taxes, social security and other fees.
What is percentage of federal taxes in texas?
A tax that is paid directly to the British government is called a direct tax. An example are the taxes that are taken out of your weekly paycheck.