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How much you really need to earn to take home $100,000 in each state

Posted on 3/26/18 at 9:04 am
Posted by stout
Porte du Lafitte
Member since Sep 2006
182339 posts
Posted on 3/26/18 at 9:04 am
quote:

For many American workers, earning a six-figure income is an impressive milestone. But it might not mean as much after accounting for state and local taxes, particularly in places like New York, California and Maryland.

To see how much you really need to take home $100,000, personal finance site GOBankingRates determined the exact salary, weighing federal, state and local taxes plus withholdings. (With the Tax Cuts and Jobs Act, now is also a good time to take a look at your tax withholding at work.)

In Oregon, that comes out to $152,810. Since the Beaver State doesn't have a sales tax, high income taxes make up the difference.

Alternatively, residents of Nevada and New Hampshire need only to earn $134,629 on paper to take home $100,000 — that's largely because those states have no income tax on wages and salaries. (New Hampshire does tax income from dividends and interest but Nevada is one of seven states with no personal income taxes on wages, earnings or investment income.)






LINK
Posted by TH03
Mogadishu
Member since Dec 2008
172004 posts
Posted on 3/26/18 at 9:05 am to
Texas wins again.
Posted by stout
Porte du Lafitte
Member since Sep 2006
182339 posts
Posted on 3/26/18 at 9:06 am to
quote:

Texas wins again.



Too bad the ridiculous property taxes eat into that $100K
Posted by GEAUXT
Member since Nov 2007
30515 posts
Posted on 3/26/18 at 9:06 am to
quote:

How much you really need to earn to take home $100,000 in each state


Posted by GreatLakesTiger24
Member since May 2012
60664 posts
Posted on 3/26/18 at 9:07 am to
At least you can see the impact (decent public schools, good roads, etc.), unlike the ridiculous state income and sales tax in some states.
Posted by ThatMakesSense
Fort Lauderdale
Member since Aug 2015
15281 posts
Posted on 3/26/18 at 9:08 am to
What's up with Oregon?
Posted by TH03
Mogadishu
Member since Dec 2008
172004 posts
Posted on 3/26/18 at 9:09 am to
Evens out when you have a nice area to live in and you don’t have to pay for private school.
Posted by stout
Porte du Lafitte
Member since Sep 2006
182339 posts
Posted on 3/26/18 at 9:10 am to
quote:

At least you can see the impact (decent public schools, good roads, etc.), unlike the ridiculous state income and sales tax in some states.



I agree but frick the ever going road projects in Texas. I don't think I have ever made a trip from LC to Houston and there wasn't some road construction at some point.
Posted by L S Usetheforce
Member since Jun 2004
23282 posts
Posted on 3/26/18 at 9:11 am to
Stout..enjoy your post

Just a disclaimer on ridiculous property taxes in Texas. When one is taking in incomes that high, it is much more advantageous to the high earner to pay higher property taxes and not be taxed on their income....

Trust me, we come out ahead!
Posted by stout
Porte du Lafitte
Member since Sep 2006
182339 posts
Posted on 3/26/18 at 9:11 am to
quote:

and you don’t have to pay for private school.




No kids so the school part wouldn't matter to me and there are nice areas to live in across every city.
This post was edited on 3/26/18 at 9:12 am
Posted by Upperdecker
St. George, LA
Member since Nov 2014
33510 posts
Posted on 3/26/18 at 9:12 am to
frick taxes
Posted by stout
Porte du Lafitte
Member since Sep 2006
182339 posts
Posted on 3/26/18 at 9:12 am to
quote:

Just a disclaimer on ridiculous property taxes in Texas. When one is taking in incomes that high, it is much more advantageous to the high earner to pay higher property taxes and not be taxed on their income....

Trust me, we come out ahead!



I know. I just like to shite on TH's constant Texas felatio he performs on here.
Posted by Sterling Archer
Member since Aug 2012
8380 posts
Posted on 3/26/18 at 9:13 am to
quote:

What's up with Oregon?



Yeah, I didn't know they had the highest taxes?
Posted by TH03
Mogadishu
Member since Dec 2008
172004 posts
Posted on 3/26/18 at 9:13 am to
So you admit you know I’m right
Posted by L S Usetheforce
Member since Jun 2004
23282 posts
Posted on 3/26/18 at 9:14 am to
You have to accept it...other than no LSU, access to festivals and New Orleans and family....Texas is winning.
Posted by TH03
Mogadishu
Member since Dec 2008
172004 posts
Posted on 3/26/18 at 9:14 am to
Stouts in sunny SoCal
Posted by Powerman
Member since Jan 2004
173660 posts
Posted on 3/26/18 at 9:15 am to
quote:



Too bad the ridiculous property taxes eat into that $100K


Works out to your benefit if you leave below your means though

If still come out ahead about 2500 a year compared to LA state income taxes
Posted by L S Usetheforce
Member since Jun 2004
23282 posts
Posted on 3/26/18 at 9:15 am to
I consult in San Deigo and go 4-6 times per year. Cousin lives there....it’s cool to visit, couldn’t live there.
Posted by stout
Porte du Lafitte
Member since Sep 2006
182339 posts
Posted on 3/26/18 at 9:23 am to
quote:

Stouts in sunny SoCal



For now.
Posted by DarthRebel
Tier Five is Alive
Member since Feb 2013
25822 posts
Posted on 3/26/18 at 9:26 am to
quote:


Too bad the ridiculous property taxes eat into that $100K


I guess we can live with our nationally ranked schools to help ease the pain
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