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Messages - GreedyJD

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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!

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