Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$42,123
Federal Income Tax
- $3,295
State Income Tax
- $2,006
Social Security
- $2,612
Medicare
- $611
FLI (Family Leave Insurance)
- $145
Total tax
- $8,669
Net pay
* $33,454
Marginal tax rate
25.0%
Average tax rate
20.6%
79.4%
Net pay
20.6%
Total tax
Total tax
Net pay
Summary
If you make $42,123 a year living in the region of Massachusetts, USA, you will be taxed $8,669. That means that your net pay will be $33,454 per year, or $2,788 per month. Your average tax rate is 20.6% and your marginal tax rate is 25.0%. 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 $25, hence, your net pay will only increase by $75.
Bonus Example
A $1,000 bonus will generate an extra $750 of net incomes. A $5,000 bonus will generate an extra $3,750 of net incomes.
NOTE* Withholding is calculated based on the Massachusetts tables of USA, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.