Summary
If you make $74,405 a year living in the region of Michigan, USA, you will be taxed $17,991. That means that your net pay will be $56,414 per year, or $4,701 per month. Your average tax rate is 24.2% and your marginal tax rate is 33.9%. 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 $33.90, hence, your net pay will only increase by $66.10.
Bonus Example
A $1,000 bonus will generate an extra $661 of net incomes. A $5,000 bonus will generate an extra $3,305 of net incomes.