Summary
If you make $320,000 a year living in the region of Iowa, USA, you will be taxed $114,143. That means that your net pay will be $205,857 per year, or $17,155 per month. Your average tax rate is 35.7% and your marginal tax rate is 42.9%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of $100 in your salary will be taxed $42.89, hence, your net pay will only increase by $57.11.
Bonus Example
A $1,000 bonus will generate an extra $571 of net incomes. A $5,000 bonus will generate an extra $2,856 of net incomes.