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    What does a $100K salary look like after taxes in Missouri?

    By Joey Schneider,

    2024-08-17

    https://img.particlenews.com/image.php?url=156twb_0v1g8BQU00

    ST. LOUIS – A six-figure salary is widely considered a standard of comfortable living in the Midwest, but after taxes, the amount that hits your bank account can vary significantly.

    The Next Gen Business , a digital finance education platform, has shared a series of videos on TikTok addressing what a $100,000 salary looks like in several U.S. states after taxes. In some cases, workers will take home tens of thousands less than their gross income.

    For most taxpayers, SmartAsset’s Income Tax Calculator offers an idea of what taxes will look like based on your salary and home state. Many of these same variables are considered in Next Gen Business’s calculations.

    Missouri

    In Missouri, all taxpayers are responsible for federal income, FICA and state income taxes. That’s what is owed before accounting for any municipal income taxes.

    Next-Gen Business offered the following breakdown.

    • Your hypothetical salary is $100,000.
    • The federal tax owed is $15,009.
    • The FICA tax owed is $7,650.
    • The state income tax owed is $4,264.
    • The combined taxes owed (federal, FICA and state income) is $26,923.

    Your net income, salary minus the taxes owed, is $73,077 .

    The calculations are only based on those three taxes, however, and could differ from person-to-person based on deductions, dependents and exemptions.

    Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

    For the latest news, weather, sports, and streaming video, head to FOX 4 Kansas City WDAF-TV | News, Weather, Sports.

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    Comments / 4
    Add a Comment
    chico
    08-18
    taxes are a rip-off
    Timothy Ogle
    08-18
    well if you take out your benefits then you are down to $60k , then you have property tax/real estate tax and takes on every dime you spend, now you are down to $45k
    View all comments
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