Summary
If you make $47,979 a year living in the region of Iowa, USA, you will be taxed $9,665. That means that your net pay will be $38,314 per year, or $3,193 per month. Your average tax rate is 20.1% and your marginal tax rate is 25.2%. 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 $25.15, hence, your net pay will only increase by $74.85.
Bonus Example
A $1,000 bonus will generate an extra $749 of net incomes. A $5,000 bonus will generate an extra $3,743 of net incomes.