1. What is the Salary Calculator?

This calculator helps Illinois government employees estimate their net pay after accounting for federal tax, Illinois state tax, and FICA deductions from their gross pay.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• \( Gross\ Pay \) — Total salary before deductions (USD/year)
• \( Federal\ Tax \) — Federal income tax amount (USD)
• \( Illinois\ State\ Tax \) — State income tax amount (USD)
• \( FICA \) — Social Security and Medicare taxes (USD)

Explanation: The equation subtracts all mandatory deductions from the gross salary to determine the employee's take-home pay.

3. Importance of Net Pay Calculation

Details: Understanding net pay helps employees budget effectively and understand their true compensation after all deductions.

4. Using the Calculator

Tips: Enter your gross annual salary and all deduction amounts in USD. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is included in FICA?
A: FICA includes Social Security (6.2%) and Medicare (1.45%) taxes, totaling 7.65% of gross pay.

Q2: How is Illinois state tax calculated?
A: Illinois has a flat income tax rate of 4.95% of taxable income as of 2023.

Q3: Are there other deductions not included here?
A: Yes, this calculator doesn't account for retirement contributions, health insurance, or other voluntary deductions.

Q4: How often should I calculate my net pay?
A: It's good practice to recalculate whenever your gross pay changes or tax laws are updated.

Q5: Is this calculator specific to Illinois government employees?
A: While designed for Illinois government workers, the basic calculation applies to most employees, though tax rates may differ.