Net Pay Formula:
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This calculator helps Washington state residents determine their net hourly pay after accounting for federal taxes and FICA contributions. Washington has no state income tax, so only federal deductions are considered.
The calculator uses the following formula:
Where:
Explanation: The calculation subtracts all mandatory federal deductions from your gross pay to determine your take-home pay.
Details: Understanding your net pay helps with budgeting, financial planning, and comparing job offers. In Washington, workers benefit from no state income tax.
Tips: Enter your gross hourly wage, estimated federal tax per hour, and FICA contributions. All values must be positive numbers.
Q1: Why doesn't this include Washington state tax?
A: Washington is one of few states with no personal income tax, so only federal deductions apply.
Q2: How do I estimate my federal tax per hour?
A: Divide your estimated annual federal tax by the number of working hours in a year (typically 2080 for full-time).
Q3: What's included in FICA?
A: FICA includes Social Security (6.2%) and Medicare (1.45%) taxes.
Q4: Are there other deductions not included?
A: This calculator doesn't account for voluntary deductions like health insurance or retirement contributions.
Q5: How accurate is this calculator?
A: It provides a basic estimate. For precise calculations, consult a tax professional or payroll specialist.