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 Floridawith free, real-time updates from Patch.
What happens to paychecks in Florida?
Orlando, Florida downtown city skyline on Eola Lake.
In tax-friendly Florida, you have more money to save and invest because you take home an estimated **$76,096** from a $100,000 salary
The Sunshine State doesn't have a state income tax, which is one of the reasons Florida is one of the top states for retirement. (Of course, the sun, warmth and beaches are all high on the list, too.)
Find out what's happening in Across Floridawith free, real-time updates from Patch.
The state has other taxes and fees to fund services, including a 6% state sales tax and local sales taxes that can tack on another 2.5%. And when you run your air conditioning, you pay Florida's 6.95% tax on electricity.
See the complete story on MoneyWise.com and find out how workers fare in other states.
