Paycheck Calculator St Louis

Paycheck calculator St Louis estimates the take-home pay after tax for St. Louis city residents.

There are seven Federal income tax brackets, 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The top rate is 37% for taxable income over $523,600 (single) and $628,300 (married, filing jointly). The standard deduction is $12,550 (single) and $25,100 (married filing jointly) for the year 2021.

After gross income less standard deduction, that is taxable income subject to Federal income tax. Therefore if your income is less than $12,550 (single) or $25,100 (married filing jointly) in 2021, there is no tax for you from the IRS, however, you might still need to pay State or City tax based on where you live.

The social security tax rate is 6.2% and the Medicare tax is 1.45% of gross income. The maximum taxable earnings for social security tax is $142,800 for the year 2021. Single filers pay an additional 0.9% in Medicare taxes if income is over $200,000 ($250,000 for married filing jointly).

Take Home Pay Calculator St. Louis

St. Louis has a flat rate of 1% for all taxpayers. There is no standard deduction for St. Louis City, therefore 1% is taxed at gross pay.

For example, if your gross income is $40,000, your local tax will be $40,000 x 0.01 = $400. After gross income less than Federal income tax, Missouri State income tax, FICA (medicare tax and social security tax), and St. Louis income tax, that is take-home pay for St. Louis residents.

Missouri State Income Tax Rate

Missouri State income tax rates are from 1.5% to 5.4%, most taxpayers pay 5.4% because taxable income is over $8,704. The standard deduction for Missouri State matches with the Federal tax standard deduction, it also allows the deduction of tax paid for Federal for up to $5,000 (single) and $10,000 (married filing jointly).

For example, if you have a gross income of $55,000 as a single filer in 2021, your Federal tax will be $5,088, therefore your personal deduction from the state will be $12,550 plus $5,000, which equals $17,550. $55,000-$17,550=$37,450. $37,450 will be the taxable income subject to the Missouri State tax.