Summary
If you make $474,000 a year living in the region of Minnesota, USA, you will be taxed $195,069. That means that your net pay will be $278,932 per year, or $23,244 per month. Your average tax rate is 41.2% and your marginal tax rate is 47.2%. 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 $47.20, hence, your net pay will only increase by $52.80.
Bonus Example
A $1,000 bonus will generate an extra $528 of net incomes. A $5,000 bonus will generate an extra $2,640 of net incomes.