Summary
If you make $118,796 a year living in the region of Massachusetts, USA, you will be taxed $34,575. That means that your net pay will be $84,221 per year, or $7,018 per month. Your average tax rate is 29.1% and your marginal tax rate is 37.0%. 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 $37, hence, your net pay will only increase by $63.
Bonus Example
A $1,000 bonus will generate an extra $630 of net incomes. A $5,000 bonus will generate an extra $3,150 of net incomes.