Summary
If you make $29,960 a year living in the region of Minnesota, USA, you will be taxed $5,517. That means that your net pay will be $24,444 per year, or $2,037 per month. Your average tax rate is 18.4% and your marginal tax rate is 25.5%. 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 $25.51, hence, your net pay will only increase by $74.49.
Bonus Example
A $1,000 bonus will generate an extra $745 of net incomes. A $5,000 bonus will generate an extra $3,725 of net incomes.