Mississippi Paycheck Calculator

Calculate your take-home pay after federal & Mississippi taxes

Updated for 2023 tax year on Sep 19, 2023

Paycheck calculators by state

Paycheck calculator for Mississippi

Understanding your Mississippi paycheck

In the land of your Mississippi paycheck, two mighty forces hold sway: federal income taxes and FICA taxes. Federal income tax withholding hinges on factors like income, filing status, and state exemptions. FICA taxes, also known as payroll tax, finance Social Security and Medicare. The employees and employers each shoulder half the 15.3% total tax (7.65% each).

The W-4 form acts as a key, allowing your employer to determine the proper amount of federal income tax to withhold from your paycheck. Considering your filing status, income, and dependents, the Form W-4 is a vital tool in managing your tax obligations. Remember to update it whenever your financial situation shifts, such as when you marry or have a child.

When plotting your financial blueprint, it’s essential to consider your marital status and the pre-tax deductions you can leverage. Pre-tax deductions like retirement fund deposits are taken from your gross pay before taxes, reducing your taxable income and easing your tax burden.

In Mississippi, state income tax rates are progressive, with various tax brackets depending on your earnings. As your income climbs, so too does your tax rate. The lowest rate is 0% and the highest is 5%.

On the local tax terrain, Mississippi features state standard deductions and exemptions that vary based on your filing status. These deductions and exemptions can lower your taxable income, reducing your overall tax liability. Familiarize yourself with these provisions to better navigate Mississippi’s tax landscape.

The last leg of your paycheck odyssey brings us to post-tax deductions. After calculating taxes, these deductions are taken from your pay and may encompass union dues, charitable donations, wage garnishments, or after-tax retirement account contributions. Understanding these deductions empowers you to assess your take-home pay and make informed financial choices accurately.

Calculate your Mississippi paycheck

Mississippi 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 Mississippi 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 + Exemptions) = 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

Each filer type has different progressive tax rates. Refer to Tax Foundation for more details.

State standard deduction

State exemptions

There are state-level exemptions for all types of filers and dependents. Refer to Tax Foundation for more details.

FAQs