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| *Ostroff, Fair and Company>>>Other Taxes |
What % of money do thay take out of your paycheck for taxes? ( I dont know if it matters but I live in MN)? |
What % of money do thay take out of your paycheck for taxes? ( I dont know if it matters but I live in MN)? The only things that are the same in every state is Social Security 6.20% (there is maximum I think my husband hit around $96,000 - somewhere around there) & Medicare 1.45%, Fedearal is total based on how musch you make The maximimum is around 33% usually the average is about 13.2% (income of $51,000)- states vary MN average is 11.2%. So all together it is 32.05% is the average in MN, could be worse, you state is ranked 10th in nation for taxes.99% The state does matter. Average about 25% 5 It does matter, but it will depend on how much you make. Both US and Minnesota taxes (if I remember correctly) are graduated, in that the more you make, the more they take out. For estimation purposes you can estimate that the govt will take about 33%. -Duo However, I use a diff method. Take your check. Look at the amount, put that amount in your taxes owed box. Add this number to the number you had on your last paycheck. Add $3000. This is the taxes you owe. |
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