Summary
If you make $121,298 a year living in the region of Massachusetts, USA, you will be taxed $35,500. That means that your net pay will be $85,798 per year, or $7,150 per month. Your average tax rate is 29.3% 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.