Announcement

Collapse
No announcement yet.

bonus tax Connecticut

Collapse
This topic is closed.
X
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • bonus tax Connecticut

    I have a question regarding the taxnig of a "bonus." We have an incentive program at work - supervisors can give points on an incentive card. 1 point = 1 dollar. The card can only be used through the website or at select stores and if the points aren't used in a certain amount of time, they are lost. I was given 100 points and taxed just over 60% - I paid $61 and change. A coworker was taxed over $245 on 400 points. Is this correct- meaning the percentage? I am not taxed that high when I get the 3% company bonus. I am a single mother NOT in the high tax bracket . . .
    Last edited by lizzybell; 12-01-2007, 12:28 PM. Reason: added info

  • #2
    I don't know.

    The Federal tax rate, for income taxes alone on a supplemental payment, is 25% of the pay. Add to that state income taxes and FICA.
    Senior Professional in Human Resources and Certified Staffing Professional with over 30 years experience. Any advice provided is based upon experience and education, but does not constitute legal advice.

    Comment

    Working...
    X