Kentucky Paycheck Calculator

Calculate your take-home pay after federal & Kentucky taxes

Updated for 2023 tax year on Mar 15, 2023

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

Kentucky tax year starts from July 01 the year before to June 30 the current year. So the tax year 2022 will start from July 01 2021 to June 30 2022.

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

1. figure out your filing status
2. work out your adjusted gross income [Net income – Adjustments = Adjusted gross income]
3. calculate your taxable income [Adjusted gross income – Standard/Itemized deductions = Taxable income]
4. understand your income tax liability [Taxable income × Income tax rate = Income tax liability]
5. minus any tax liability, deductions, withholdings [Net income – (Income tax liability + Pre-tax deductions + Post-tax deductions + Withholdings) = Your 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.

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