Want to take home $100K a year? Here’s what you ACTUALLY need to make in each state
- Taxes were highest in Oregon, Maryland, Hawaii, California and Maine
- Florida, Nevada, Tennessee, Texas and Wyoming were among the mildest
There’s a big difference between earning $100,000 before and after taxes – and in some states that difference is greater than others.
In Oregon, a worker would need an annual salary of more than $156,000 to take home $100,000 a year, or about $8,300 a month.
At the other end of the spectrum, in a handful of states where there is no income tax, a salary of just $137,000 would yield a net salary of $100,000.
Residents of Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming will enjoy the most lenient taxation, coming home with 72.8 percent of their pre-tax wages.
Eight states had the lowest taxes: Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. Pictured is the IRS building in Washington
Although Alaska also technically has no state income tax, some regions may impose their own taxes at an average rate of less than 2 percent.
After Oregon, the states with the highest taxes include Maryland, Hawaii, California and Maine – in order.
Surprisingly, about thirteen states impose higher taxes than New York, where earners need an annual salary of about $149,500 to take home $100,000.
Considering all 50 states, the average pre-tax required salary was approximately $146,500. Oklahoma and Colorado were both in that region.
The figures are published in a recent research from GOBankingRateswhich took into account average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes.