Maximize Your 401k Contributions in 2024: A Guide with Calculator
New updates to the 2023 and 2024 401k contribution limits. Use a free paycheck calculator to gain insights to your 401k and financial future.
Maine Bonus Tax Calculator - Percent Results
Below are your Maine salary paycheck results. The results are broken up into three sections: "Paycheck Results" is your gross pay and specific deductions from your paycheck, "Net Pay" is your take-home pay, and "Calculation Based On" is the information entered into the calculator.
To understand how to calculate federal, state and local taxes, check the paycheck FAQs below the results.
Employee Paycheck Results
Bonus Amount
$0.00
Federal Withholding
$0.00
Social Security
$0.00
Medicare
$0.00
State Tax Withholding
$0.00
Take home pay (net pay)
$0.00
Employer Taxes
For complete employer tax calculations, run payroll with PaycheckCity Payroll
Calculation Based On
Check Date
12/7/2023
Gross Pay
$0.00
Gross Salary Year to Date
$0.00
Additional Federal Withholding
$0.00
Round Federal Withholding
Yes
Exempt from Federal Withholding
No
Exempt from Social Security
No
Exempt from Medicare
No
What is the percentage method for bonuses?
The percentage method is used if your bonus comes in a separate check from your regular paycheck. Your employer withholds a flat 22% (or if over $1 million, 37% which is the highest rate of income tax). This percentage method is also used for other supplemental income such as severance pay, commissions, overtime, etc. Supplemental wages are still taxed Social Security, Medicare, and FUTA taxes.
Will my bonus be taxed even if I claim exempt in my W4?
Yes, the flat 37% rate applies even if an employee claims exemption in their federal Form W-4 from federal income tax withholding.
What is Maine’s supplemental/bonus tax rate?
Some states tax bonuses, which are also called supplemental earnings. Find Maine’s supplemental rate in our Payroll Resources under “Withholding Requirements”.
The calculators on this website are provided by Symmetry Software and are designed to provide general guidance and estimates. These calculators should not be relied upon for accuracy, such as to calculate exact taxes, payroll or other financial data. Neither these calculators nor the providers and affiliates thereof are providing tax or legal advice. You should refer to a professional adviser or accountant regarding any specific requirements or concerns.
Check out more Maine payroll resources
Lastest Insights
Still Waiting on Your 2023 Bonus?
Unlock the secrets of your 2023 bonus taxes with our guide, and use our Bonus Pay Percent Calculator for an instant breakdown of your take-home pay.
How Much of Your Bonus Will You Take Home?
It’s the 2023 holiday season, and for fortunate employees, that means an end-of-year bonus! Yet many employees are disappointed when their bonus lands in their bank – usually a lower amount than anticipated. Here's a quick guide to help workers understand how bonuses are taxed.