Enter your annual salary, pay frequency, and state tax rate into the calculator to determine your net pay.
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Paycheck Calculation Formula
The following formula is used to calculate the net pay from your salary.
Net Pay = Gross Pay * (1 - State Tax Rate / 100)
Variables:
- Net Pay is the net amount you take home ($)
- Gross Pay is your salary before deductions ($)
- State Tax Rate is the percentage of tax deducted from your salary (%)
To calculate the net pay, multiply the gross pay by the state tax rate and subtract the result from the gross pay.
What is Paycheck Calculation?
Paycheck calculation refers to the process of determining the net amount you take home after deductions such as state taxes. This involves understanding your gross pay, the frequency of your paycheck, and the applicable tax rates. Proper paycheck calculation ensures accurate budgeting and financial planning