1. What is the Salary Calculator?

This calculator helps determine your net pay in Virginia Beach by subtracting federal tax, Virginia state tax, and FICA contributions from your gross pay. It follows ADP calculation standards for accurate results.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• \( Gross\ Pay \) — Total earnings before deductions
• \( Federal\ Tax \) — Federal income tax amount
• \( Virginia\ State\ Tax \) — Virginia state income tax (2% up to $3,000, etc.)
• \( FICA \) — Social Security and Medicare taxes

Explanation: The calculation accounts for all major mandatory deductions to provide an accurate net pay amount.

3. Importance of Net Pay Calculation

Details: Understanding your net pay helps with budgeting, financial planning, and verifying paycheck accuracy. Virginia Beach residents should account for state-specific tax rates.

4. Using the Calculator

Tips: Enter your annual gross pay and all deduction amounts. For Virginia state tax, remember the progressive rate structure (2% up to $3,000, etc.).

5. Frequently Asked Questions (FAQ)

Q1: How is Virginia state tax calculated?
A: Virginia uses progressive tax rates (2% up to $3,000, 3% from $3,001-$5,000, 5% from $5,001-$17,000, and 5.75% above $17,000).

Q2: What's included in FICA?
A: FICA includes 6.2% for Social Security (up to wage base limit) and 1.45% for Medicare (plus 0.9% additional Medicare tax for high earners).

Q3: Are there local taxes in Virginia Beach?
A: Virginia Beach doesn't have local income taxes, but there may be other local taxes like personal property tax.

Q4: How accurate is this calculator?
A: This provides an estimate. For exact figures, consult your payroll department or ADP statements.

Q5: Can I use this for hourly wages?
A: Yes, but convert your hourly wage to annual gross pay first (hourly rate × hours per week × 52 weeks).