1. What is the Salary Tax Calculator?

The Salary Tax Calculator estimates your total tax burden for 2023 based on your income, filing status, and state of residence. It calculates Federal Income Tax, State Income Tax (where applicable), and FICA taxes (Social Security and Medicare).

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Federal Tax — Calculated using 2023 IRS tax brackets
• State Tax — Varies by state (some states have no income tax)
• FICA — Social Security (6.2% up to wage base) + Medicare (1.45% + 0.9% for high earners)

3. Understanding Tax Components

Federal Tax: Progressive tax system with rates from 10% to 37% based on income and filing status.

State Tax: Varies significantly by state - some have no income tax, others have progressive or flat rates.

FICA: Mandatory payroll taxes that fund Social Security and Medicare programs.

4. Using the Calculator

Tips: Enter your gross annual salary, select your state and filing status. The calculator provides estimates for each tax component and the total tax burden.

5. Frequently Asked Questions (FAQ)

Q1: Are these calculations exact?
A: These are estimates. Actual taxes may vary based on deductions, credits, and other factors not considered here.

Q2: Which states have no income tax?
A: As of 2023: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.

Q3: What's the Social Security wage base?
A: For 2023, Social Security tax applies only to the first $160,200 of earnings.

Q4: Are there additional Medicare taxes?
A: Yes, high earners pay an additional 0.9% on income above $200,000 (single) or $250,000 (married).

Q5: How often are tax brackets adjusted?
A: Tax brackets are typically adjusted annually for inflation.