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he will have to pay taxes now or later. The only thing in question is how much now or later. 
0
Posted on 10/21/12 at 10:42 am to HurricaneDunc
quote:
I've always heard bonuses get taxed more than regular pay? Do they get taxed the same as normal income?
same box as regular wages
Posted on 10/22/12 at 4:22 pm to TheWhizzinator
If it is an annual incentive your employer should be withholding at the supplemental tax rate which is 25% for federal and depending on what State would determine the State rate. A google search with "Louisiana Supplemental Tax Rate" would return results. If your not looking for Louisiana just put your state in place of Louisiana.
ETA: if this bonus puts you over 1 million for the year then the federal rate is 35%.
ETA: if this bonus puts you over 1 million for the year then the federal rate is 35%.
This post was edited on 10/22/12 at 4:24 pm
Posted on 10/22/12 at 11:14 pm to HurricaneDunc
I had my standard 401k percentage withdrawn and then my company takes a stupid rate for the rest of it 25% or more. A flat rate is taken for everyone in the country regardless of income level -- looks like I will be getting a large refund. 
Posted on 10/22/12 at 11:33 pm to lynxcat
Mine was automatically withheld at 25% + state tax
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