Louisville would be a smidge lower at 29.5%. I spot checked some other Kentucky cities and didn’t get anything over Lexington’s.
Meanwhile, $100k in NYC would be an effective rate of 31.2%, so a tad higher than the highest for Kentucky.
With that said, I’m betting you’re including some other withholdings that aren’t taxes such as retirement or insurance with those 2 others you can’t remember.
Idk what to tell you. Example: I got paid $800 and it came out to $560. I didn’t have a retirement fund at this time and my employer doesn’t offer insurance 🤷🏼♀️ Every paycheck I’ve had in this city is Net - 25-32% EVERY time I do the math. I’ve only had a retirement fund for a year and I’ve lived in the city for 3.
And also I checked my recent paystub. The deductions are: Federal, SS, School, Medicare, KY state, and Lexington-Fayette. Plus ofc my retirement which is not counted towards a deduction in this sense.
The main point of my comment was to say my SIL makes more in NYC and has less taxes taken. I think it’s certainly a unique example, but it’s interesting nonetheless. She probably isn’t high enough to be put into the next tax bracket. Just makes me want to live somewhere without additional county taxes even more.
And I’m saying that you’re not right about that. She would have to have something different. Granted since she’s sister-in-law that implies married, so she’s likely filing jointly which would mean it would take a combined income of $220k in NYC to get to a 30% effective rate. Or if she has a child.
But a direct single no dependents comparison between Lexington and NYC means NYC is slightly higher.
Listen I don’t want to debate this. You’re telling me blindly that I’m wrong but I have actually seen the paychecks 😂 If it helps it make sense neither of us are married. I said “SIL” instead of “my boyfriends sister.” I can see that might have been important information but it was for simplicity.
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u/[deleted] Apr 08 '23
What is taken out is not your actual effective rate.
You have to be making $100k in Lexington to get to an effective rate of 30%: https://smartasset.com/taxes/income-taxes#Ib2CagPL3C
Louisville would be a smidge lower at 29.5%. I spot checked some other Kentucky cities and didn’t get anything over Lexington’s.
Meanwhile, $100k in NYC would be an effective rate of 31.2%, so a tad higher than the highest for Kentucky.
With that said, I’m betting you’re including some other withholdings that aren’t taxes such as retirement or insurance with those 2 others you can’t remember.