Question

If 10% of your paycheck was withheld for federal income taxes and another 6% for state income taxes, how much would your net (or take-home) pay be?

Answer 1

Your net income/take-home would be 84.6 percent of the gross amount.

What is net income?

Your net income is the amount of money left after payroll deductions in the form of taxes and other charges on the gross amount of your paycheck.

If we deduct federal and state taxes, 10 percent and 6 percent respectively, we would charge 10 percent and 6 percent of 100 and have 84.6 percent of your original(gross) income left.

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