Idaho Paycheck Calculator

How Idaho Paycheck Tax Calculator Works?

• Gross Pay is the total amount of money you earn before any deductions are taken. It is based on several factors, including hourly wages, bonuses, and commissions.

• Federal Income Tax: The federal government imposes income tax on your earnings. Your employer withholds a small portion of your paycheck earnings to hide this tax, which is based on your filing status and the information you provide on your W-4 form.

• Social Security and Medicare Taxes: FICA taxes fund Social Security and Medicare Programs. The current rate is 6.2% for Social Security and 1.45% for Medicare.

• State Income Tax: Idaho also imposes income tax on your earnings. Like federal income tax, your employer withholds a portion of your paycheck to cover this tax. The amount depends on your filing status and the information you provided on your Idaho withholding form.

• Net Pay: This is the amount of money you take back home after all the deductions have been subtracted.

Idaho Paystub Generator

If you earn a gross pay of $66,000.00 annually in Idaho, your net pay, or take-home pay, will amount to $49,835 after deducting taxes at a rate of 24.49% (equivalent to $16,165.10). These deductions include 11.04% (or $7,288.10) for federal income tax, 5.80% (or $3,828.00) for state income tax, 6.20% (or $4,092.00) for social security tax, and 1.45% (or $957.00) for Medicare.

Important Note: The Stubcreator provides a paycheck calculator designed to provide essential guidance. This should not be relied upon to calculate exact taxes, payroll, or other financial data. You should seek a professional accountant regarding any particular requirement.

Taxable Base Wage

Taxable Base Wage for Idaho are as follows:

SUTA Rates

The 2024 adjusted range of SUI rates for experience-rated employers is 0.281% to 5.4%, which is less than the range of 0.352% to 5.4% originally allotted, following the implementation of the lower multiplier under H.B. 428. The range of rates for 2023, which was 0.207% to 5.4%, is marginally higher than the modified SUI rates for 2024.

FUTA Rates

Paying SUI is your responsibility as an employer. Keep in mind that you will receive a 90% tax credit on FUTA if you pay your state’s SUI in full and on time. The SUI rates in Idaho vary from 5.4% to 0.306%. Each employee’s taxable wage base will be $53,500 in 2024. For the first six quarters, at least, new employers pay 0.97%.

FICA Rates

In Idaho, the FICA tax rates for 2024 are as follows:

For Employees and Employers:

• Social Security Tax: 6.2%
• Medicare Tax: 1.45%

Additional Medicare Taxes

• Employees: 1.45%

Other Taxes

For all taxpayers in Idaho, the current tax rate is 5.695%. If you file as a single, the rate is applicable to taxable income over $2,500.

• In Idaho, the ETT Rate for 2024 is 5.695%
• In Idaho, the SDI Withholding Rate for 2024 is 5.8% to 5.695%

Idaho Payroll Tax Withholding:

Employers are required by Idaho law to deduct income tax from their workers’ paychecks. Your employer most likely deducts income tax from your paycheck if you are an employee. Withholding may also be observed in some other types of income, such as commissions, bonuses, pensions, and profits from gaming.

Idaho State Payroll Taxes

Below mentioned are the details of Idaho:

• Idaho employees are required to complete Form ID W-4 to initiate payroll taxes. This crucial information aids in calculating the appropriate amount to be withheld.
• If an employee does not finish this form, you will need to withhold tax as though no exemptions were mentioned.
• The personal Income Tax rate in Idaho is 5.8%.
• Employees are required to revise their Form ID W-4 in the event of significant life occurrences, such as marriage, divorce, the birth or adoption of a child, and other similar events, as these may have an impact on their tax obligations.