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New Member
posted Jun 4, 2019 12:07:42 PM

I get paid 60k a yearin NYC.My bi weekly check is for $2,307. I have 1 allowance. I received $1542. How is over a third of my check being taxed when I thought it was 25%?

0 3 2303
3 Replies
Level 15
Jun 4, 2019 12:07:44 PM

FICA (social security) 6.2%

OASDI (medicare) 1.45%

Federal tax, 10% on first $300 after allowances, 15% on next $400, 25% over that

NY state tax, about 6.5% after allowances

NYC tax, about 3.5%

The federal withholding calculations are here https://www.irs.gov/pub/irs-pdf/p15a.pdf

The state withholding calculations are here https://www.tax.ny.gov/pdf/publications/withholding/nys50_t_nys.pdf

Level 15
Jun 4, 2019 12:07:45 PM

You may also have employee benefit premiums, etc withheld.

Level 15
Jun 4, 2019 12:07:46 PM

Look at your paystub and at all the deductions.  Ask your employer if you don't understand something.