Law School Discussion

Nine Years of Discussion

Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Topics - GreedyJD

Pages: [1]
Law Firms / Fist Year Associates: Expected Total Tax Payout (by Market)
« on: October 12, 2008, 05:25:54 PM »
I'm a first year associate with a large firm in New York City am receiving a $160k/yr base salary. Given the high state and city taxes associated with living in New York City, a first year associate can generally expect to pay ~39-41% of his/her income out in the form of taxes depending upon the number of deductions claimed. I have heard that first year associates in CA on the $160k/yr base can expect to pay slightly more out in the form of taxes (40-42%) though am not sure.

I'm curious to hear what fellow first year associates in other markets (that are currently paying $160k/yr) can expect to pay in the form of taxes this year (*note: when I say "tax" I mean fed, social, med, and state - I'm looking for a total % of all reductions taken from your paycheck).

More specifically, I'm looking for data on these markets (and yes, I'm too lazy to look this up myself) :

1) CA
2) TX
3) IL
4) DC

Any input at all will be appreciated!

Pages: [1]