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Take-home pay: $148,481 Virginia's state income tax rate is 5.75% regardless of filing status. The net result for $200,000 earners is a well below-average take-home pay rate.
While $200,000 is inarguably a sizable income, that number can be whittled down significantly after you pay taxes — especially depending on the state in which you reside.
A household's income can be calculated in various ways but the US Census as of 2009 measured it in the following manner: the income of every resident of that house that is over the age of 15, including pre-tax wages and salaries, along with any pre-tax personal business, investment, or other recurring sources of income, as well as any kind of ...
It’s no secret that taxes can take a big bite out of your paycheck. Since income tax rates vary from state to state, however, the size of that bite will fluctuate depending on where you live....
The CPS measure of money income is defined as the total pre-tax cash income received by people on a regular basis, excluding certain lump-sum payments and excluding capital gains. The Census Bureau also produces alternative estimates of income and poverty [9] based on broadened definitions of income that include many of these income components ...
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Federal individual tax rates vary from 10% to 37%. [8] Some states and localities impose an income tax at a graduated rate, and some at a flat rate on all taxable income. [9] Individuals are eligible for a reduced rate of federal income tax on capital gains and qualifying dividends.