Personal Finance
How Income Taxes Shrink a $100,000 Salary in All 50 States
See how a six-figure salary is reduced to teeny-tiny take-home pay where you live.
Not happy when you look closely at your paycheck and compare the gross amount with the far more puny net? It sure seems like a lot is lost to taxes — but do you have any idea just how much? You might be surprised. Using a SmartAsset paycheck calculator, we determined how income taxes shrink a hypothetical $100,000 salary in all 50 states and the District of Columbia.
See how a good-sized salary is reduced to teeny-tiny take-home pay where you live.
No wonder it's so tough to save money. (But you can do it!)
Find out what's happening in Across Marylandwith free, real-time updates from Patch.
What happens to paychecks in Maryland?
Maryland packs so much into a small space: mountains, an ocean beach, a major city (Baltimore), tons of history --- and all the crabs, crabs, crabs you can eat.
It also loads on the income taxes. Federal and state taxes cut down a $100,000 salary to **$71,593**, with the state's income tax biting off 4.5% of that income. And then, county taxes or the Baltimore city tax take as much as 3.2% more.
Find out what's happening in Across Marylandwith free, real-time updates from Patch.
No wonder Maryland is one of the worst states for retirees. People here also pay a 6% state sales tax, but there are no local sales taxes.
See the complete story on MoneyWise.com and find out how workers fare in other states.