Summary
If you make $6,970 a year living in the region of Mississippi, USA, you will be taxed $533. That means that your net pay will be $6,437 per year, or $536 per month. Your average tax rate is 7.7% and your marginal tax rate is 9.6%. 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 $9.61, hence, your net pay will only increase by $90.39.
Bonus Example
A $1,000 bonus will generate an extra $904 of net incomes. A $5,000 bonus will generate an extra $4,520 of net incomes.