Mississippi Paycheck Calculator

Curious about how much of your paycheck you’ll actually take home in Mississippi? Our Mississippi Paycheck Calculator is the perfect tool to help you quickly and accurately estimate your net income after taxes and deductions. Whether you’re an employee, employer, or self-employed, this tool offers a straightforward way to understand your earnings in Mississippi.

How It Works

1. Enter Your Earnings: Input your salary, hourly wage, or other sources of income.
2. Include Deductions: Add details such as pre-tax benefits, retirement contributions, and any other relevant deductions.
3. Get Your Results: Instantly view your net pay after all taxes, deductions, and withholdings.

Who Can Benefit?

• Employees: Get an accurate estimate of your paycheck.
• Employers: Easily calculate payroll and understand employee take-home pay.
• Freelancers & Contractors: Estimate your post-tax income to manage your finances better.

Mississippi Paycheck Calculator 

• Mississippi payroll taxes begin with employees filling out Form 89-350.
• If an employee does not finish this form, you can withhold taxes as no exemptions have been claimed.
• Employees need to update Form 89-350 in case of life events like marriage or divorce, which may impact their taxes.
• The personal income tax rate in Mississippi is 5%.
• Mississippi does not have reciprocity with other states.

Mississippi Unemployment Tax Rate 

• Employers pay the Mississippi unemployment tax rate on the first $14,000 of an employee’s wages.
• The new employer’s pay rate is 1.0%.
• Experienced employers’ pay rate is 0-5.4%.

Mississippi Wage Calculator 

Mississippi lacks state legislation on overtime compensation, thereby necessitating the application of federal regulations outlined in the Fair Labor Standards Act. In essence, hourly workers are entitled to receive one and a half times their regular pay for any hours worked beyond 40 hours per week.

Important Note: Stubbuilder 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.

Mississippi Payroll Calculator 

Regardless of the state in which you are employed, FICA taxes, comprising Social Security and Medicare taxes, are mandatory. These taxes entail your employer deducting 6.2% of your earnings for Social Security and 1.45% for Medicare from each paycheck. Additionally, your employer matches these amounts, effectively doubling the contributions. If you’re self-employed, you’re responsible for paying the complete 12.4% for Social Security and 2.9% for Medicare, albeit you can later claim half of these self-employment taxes as deductions.

For individuals filing as single, heads of household, and qualifying widows (er)s, any income exceeding $200,000 is subject to a 0.9% Medicare surtax, not matched by employers. Married couples filing jointly face this surtax on income exceeding $250,000, while those filing separately incur it on earnings surpassing $125,000.

Why Use the Mississippi Paycheck Calculator?

1. Mississippi-Specific Calculations: Our calculator is explicitly tailored for Mississippi residents, accounting for state income tax rates, local taxes, and other relevant deductions. This ensures that you get the most accurate results customized to Mississippi’s tax structure.

2. Easy and Efficient: With a user-friendly interface, our calculator allows you to input your gross income, select your filing status, and add any deductions, such as health insurance or retirement contributions. The tool then instantly provides an estimate of your take-home pay.

3. Always Up to Date: We keep our calculator updated with the latest tax laws and rates in Mississippi so you can trust that your calculations are accurate and reflect current information.

4. Financial Planning Made Simple: Understanding your take-home pay is essential for effective budgeting and financial planning. Our calculator gives you a clear view of your earnings, helping you plan for taxes, savings, and other financial goals.