Originally Posted by
Xelectro
Even if I subtract the NY State and NYC taxes, it's still taxed at 34%. Thought I read somewhere that it's taxed at 25%?
Is this your first job? They categorized it as a pay not a bonus so it comes out at a lower rate. The feds have that function. If your state elects not to then youll get it back when u file your taxes.
Welcome to the progressive tax system.