Net Pay Calculator
Estimate your take-home pay after federal income tax, FICA (Social Security & Medicare), and optional state income tax deductions.
Formulas Used
Federal Taxable Wages (per period)
= Gross Pay − Pre-Tax Deductions − (Allowances × $4,300 / Pay Periods)
Federal Income Tax (per period)
= Annualised Wage Method tax from 2024 IRS Pub 15-T brackets ÷ Pay Periods + Additional Withholding
Brackets (Single): 10% ≤$11,600 | 12% ≤$44,725 | 22% ≤$95,375 | 24% ≤$100,525 | 32% ≤$191,950 | 35% ≤$243,725 | 37% above
Social Security Tax
= min(Annual Gross, $168,600) × 6.2% ÷ Pay Periods
Medicare Tax
= Annual Gross × 1.45% + max(0, Annual Gross − Threshold) × 0.9% ÷ Pay Periods
(Threshold: $200,000 Single / $250,000 MFJ)
State Income Tax (per period)
= (Gross Pay − Pre-Tax Deductions) × State Rate %
Net Pay (per period)
= Gross Pay − Federal Tax − Social Security − Medicare − State Tax − Pre-Tax Deductions − Post-Tax Deductions
Assumptions & References
- Uses 2024 IRS Publication 15-T Percentage Method (Annualised Wage Bracket) for federal withholding.
- Federal allowance value: $4,300 per allowance per year (2024 IRS Pub 15-T, Table 1).
- Social Security wage base: $168,600 (2024, IRS Notice 2023-75).
- Social Security employee rate: 6.2%; Medicare: 1.45%; Additional Medicare: 0.9% above threshold.
- State tax is applied as a flat rate on post-pre-tax wages. Actual state taxes may use progressive brackets.
- Does not include local/city taxes, SDI, SUI, or employer-side FICA contributions.
- Pre-tax deductions (401k, HSA, FSA) reduce both federal and state taxable income in this model.
- Post-tax deductions (Roth 401k, wage garnishments) do not reduce taxable income.
- Results are estimates only. Consult a payroll professional or tax advisor for precise calculations.
- References: IRS Pub 15-T (2024), SSA Wage Base.