Summary
If you make $118,831 a year living in the region of New Jersey, USA, you will be taxed $33,038. That means that your net pay will be $85,793 per year, or $7,149 per month. Your average tax rate is 27.8% and your marginal tax rate is 38.0%. 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 $38.03, hence, your net pay will only increase by $61.97.
Bonus Example
A $1,000 bonus will generate an extra $620 of net incomes. A $5,000 bonus will generate an extra $3,099 of net incomes.