By Leada Gore, al.com (TNS)
Most people would snap up a job with pay of $100,000 a year. But bringing that amount home will require good deal more income, according to a recent analysis.
GoBankingRates.com looked at how much you need to earn in each state to actually bring home $100,000 a year. The analysis accounts for average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes.
All those deductions combined can turn a six-figure salary into a take-home pay of five figures, the analysis showed.
In Alabama, the analysis showed you will bring home just under 69% of your salary, after taxes. That means you’d need to earn $145,515 a year to bring home $100,000. That’s considerably more than U.S. Census Bureau data that showed the median household income in Alabama in 2022 was $59,609.
The top five states with the highest salaries needed to take home $100,000 after taxes were:
- Oregon – $156,280
- California – $153,700
- Maryland – $154,850
- Hawaii – $154,165
- Maine – $151,640
Eight states tie for the lowest salary needed to take home $100,000 after taxes—about $137,290, GoBankingRates.com reported. The eight states are Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.
You can see every state’s data here.
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©2024 Advance Local Media LLC. Visit al.com. Distributed by Tribune Content Agency LLC.
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