The next step in determining your Idaho paycheck is to determine your hourly and salaried income and pay periods. This page will assist you in calculating your Idaho net pay or take-home pay by inputting your per-period or annual salary and the applicable federal, state, and municipal information. Here is everything you need to know about Idaho Paycheck Calculator.
Idaho’s income tax system is progressive, with six tax brackets ranging from 1% to 6.5%. Those with higher incomes in Idaho should anticipate paying more state and federal taxes. Let’s calculate your paycheck manually with an example.
Suppose your annual salary is $70,000. Your anticipated semimonthly take-home pay is $2,917. Let’s examine your gross wage in greater detail. The federal income tax rate is 14.69 percent, while the state income tax rate is 4.69 percent. Second, FICA and state insurance taxes will be estimated at 7.65%, including approximately 6.20 percent for social security and 1.45% for Medicare. The total amount of your paycheck will be $2,128.
As you can see there are so many variables that you need to consider when you calculate your Idaho Paycheck. But using our Idaho Paycheck Calculator will make things easier for you. Before you use the Idaho Paycheck Calculator, there are still a couple of things you need to know.
In addition, the inclusion of employee benefits like 401(k)s and health insurance may affect the way in which your employee’s payment is calculated.
Lastly, we would like to point you that the paycheck calculator only provides general information regarding the calculation of taxes on salaries for Idaho residents. The Idaho paycheck calculator may not account for all taxes and fees that you or your employer may be liable for at any one moment.