Missouri Paycheck Calculator
Federal Withholding
Missouri State Withholding
Deductions
Your Paycheck Summary:
Enter your details and click "Calculate Paycheck" to see your results.
Understanding Your Missouri Paycheck
Navigating your paycheck can sometimes feel like deciphering a secret code. This Missouri Paycheck Calculator is designed to help you understand how your gross earnings are reduced by federal and state taxes, as well as other deductions, to arrive at your net pay.
How Your Paycheck is Calculated
Your net pay (the amount you actually take home) is determined by subtracting various taxes and deductions from your gross pay. Here's a breakdown of the key components:
1. Gross Pay
This is your total earnings before any deductions. It includes your regular wages, salary, commissions, bonuses, and any other taxable income.
2. Pre-Tax Deductions
These are deductions taken from your gross pay before taxes are calculated. Common examples include contributions to a 401(k) or 403(b) retirement plan, health insurance premiums, and Flexible Spending Account (FSA) contributions. Pre-tax deductions reduce your taxable income, meaning you pay less in federal and state income taxes.
3. Federal Taxes
- Federal Income Tax: This is withheld based on the information you provide on your W-4 form (filing status, dependents, other income/deductions, and extra withholding). The calculator uses a simplified method based on 2024 tax brackets and standard deductions to estimate this amount.
- Social Security (FICA – SS): This is a flat 6.2% of your gross pay, up to an annual wage base limit ($168,600 for 2024). This tax funds retirement, disability, and survivor benefits.
- Medicare (FICA – Med): This is a flat 1.45% of all your gross pay, with no wage limit. It funds hospital insurance for the elderly and disabled. An additional 0.9% Medicare tax applies to wages over $200,000 (single) or $250,000 (married filing jointly).
4. Missouri State Income Tax
Missouri has a progressive income tax system. For 2024, the state's tax structure includes a 0% rate on the first $1,000 of taxable income, with a top rate of 4.8% on income exceeding that threshold, after accounting for deductions and exemptions. Your MO filing status and the number of exemptions you claim on your MO W-4 form (Form MO W-4) determine your state tax withholding.
- MO Standard Deduction (2024): $14,600 for single filers, $29,200 for married filing jointly.
- MO Exemptions (2024): Each exemption claimed reduces your taxable income by $2,100.
5. Post-Tax Deductions
These deductions are taken from your pay after all applicable taxes have been calculated and withheld. Examples include Roth 401(k) contributions, union dues, garnishments, or certain charitable contributions.
6. Net Pay
This is your final take-home pay after all federal taxes, state taxes, and pre-tax/post-tax deductions have been subtracted from your gross pay.
Example Calculation
Let's consider an example for a bi-weekly paid employee in Missouri:
- Gross Pay per Pay Period: $2,000
- Pay Frequency: Bi-Weekly (26 pay periods/year)
- Federal Filing Status: Single, 0 Dependents, 0 Other Income/Deductions, 0 Extra Withholding
- MO Filing Status: Single, 1 Exemption, 0 Extra Withholding
- Pre-Tax Deductions: $100 per pay period (e.g., health insurance)
- Post-Tax Deductions: $20 per pay period (e.g., union dues)
Using the calculator with these inputs, you would see a detailed breakdown of federal income tax, FICA taxes, Missouri state tax, and finally, your net pay.
This calculator provides an estimate. For precise figures, always consult your employer's payroll department or a tax professional.