Kentucky Paycheck Calculator

Calculate your take-home pay after federal & Kentucky taxes

Updated for 2024 tax year on Apr 17, 2024

Paycheck calculators by state

Paycheck calculator for Kentucky

Understanding your Kentucky paycheck

Every time you receive your paycheck, you may wonder, “Where does all my money go?” Understanding your Kentucky paycheck is essential to managing your finances effectively. Let’s look at the components that make up your paycheck.

First, let’s talk about federal income taxes and FICA taxes. The federal government imposes income tax on your earnings, which is determined by your annual income and filing status. FICA taxes, including Social Security and Medicare taxes, are deducted from your paycheck to fund these federal programs. Both employers and employees contribute to these taxes, with self-employed individuals paying both the employer and employee portions.

The Form W-4 plays a crucial role in determining how much federal income tax is withheld from your paycheck. When you start a new job or have significant life changes, it’s essential to fill out a new Form W-4 to ensure the appropriate amount of tax is withheld. Additionally, your pay frequency (weekly, bi-weekly, or monthly) can also impact the size of your paycheck.

Your marital status and pre-tax deductions also affect your paycheck. Pre-tax deductions, such as health insurance premiums, retirement contributions, and flexible spending accounts, can lower your taxable income. This will result in less federal income tax withheld from your paycheck.

In Kentucky, the income tax is a flat rate of 5%. There is no state payroll tax or local income tax. The state imposes a flat tax rate on all taxable income. While there is a state standard deduction in Kentucky, personal exemptions are not available.

Finally, post-tax deductions are taken from your paycheck after taxes have been calculated. These deductions may include life insurance premiums, union dues, or charitable contributions. Keeping track of your post-tax deductions can help you better understand your overall financial picture.

Calculate your Kentucky paycheck

Calculating your Kentucky state income tax is similar to the steps we listed on our Federal paycheck calculator:

1. Determine your gross income
   • Annual salary
     Annual salary = Gross income
   • Hourly wage
     Hourly wage × Hours worked per day × Days worked per week × Weeks worked per year = Your weekly paycheck
2. Work out your total federal income tax
   1. Gross income adjusted
      Gross income − Pre-tax deductions = Gross income adjusted
   2. Federal taxable income
      Gross income adjusted − Federal standard/itemized deductions = Federal taxable income
   3. Federal income tax liability
      Federal taxable income × Federal income tax rate = Federal income tax liability
   4. Federal payroll tax liability
      Gross income adjusted × Federal payroll tax rate = Federal payroll tax liability
3. Calculate your total Kentucky state income tax
   1. State taxable income
      Gross income adjusted − State standard/itemized deductions = State taxable income
   2. State income tax liability
      State taxable income × State income tax rate = State income tax liability
4. Figure out your net pay
   Gross income − (Total income tax liability + Total payroll tax liability + Total pre-tax deductions + Total post-tax deductions + Total withholdings) = Your net pay
5. Divide your net pay by your pay frequency
   
   • Daily
     Your net pay / Days worked per week / Weeks worked per year = Your daily paycheck
   • Weekly
     Your net pay / 52 = Your weekly paycheck
   • Bi-weekly
     Your net pay / 26 = Your bi-weekly paycheck
   • Semi-monthly
     Your net pay / 24 = Your semi-monthly paycheck
   • Monthly
     Your net pay / 12 = Your monthly paycheck
   • Quarterly
     Your net pay / 4 = Your quarterly paycheck
   • Semi-annual
     Your net pay / 2 = Your semi-annual paycheck
   • Annual
     Your net pay = Your annual paycheck

State payroll tax

There is no state-level payroll tax.

State income tax brackets

Refer to Tax Foundation for more details.

State standard deduction

State exemptions

There are no state-level exemptions.

FAQs