Business Affairs Office : Employee Services

Net Pay Calculator 

 

  Net Pay Calculator (adjusted for the new federal tax tables)
 

1.  Overview

The net pay calculator is a helpful tool in doing monthly net pay estimates when employees are considering changing Federal and State withholding amounts on their W-4.  It can also be used to track net pay and federal and state withholding changes when enrolling or changing tax deferred investment deduction amounts,  for any type of pay status (promotion, change in FTE) or when receiving supplemental pay such as a bonus, back pay, or vacation payout.

Notes of caution:

  1. This calculator should not be used for foreign national employees. Foreign national employees may contact the Payroll Office directly.
  2. The calculator is easy to use in simple scenarios; it becomes more complex with pre-tax deductions and supplemental rate payments.

Telephone the Payroll Office at 346-3151 if you need assistance when first using the calculator.

2.  Instructions

  • Go to the Tax Worksheet and hit "enter" in the "Password" box or click "Read Only" box.

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  • Next enter your current or new gross pay amount in the "Regular Wages" field.

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  • If you are receiving a bonus, retroactive salary increase, vacation payout or comp payout, which are all taxed at the supplemental rate, enter this amount in the "Supplemental Wages" field, just under the "Regular Wages" field.

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  • Next enter pre-tax deductions (if applicable) from the following list:

-  First $45,000 of employee life insurance (CL2)
-  Parking Permit (JPB)
-  Flexible Spending Accounts (PXM or PXS)
-  Tax Deferred Investments (code begins with an "S")

  • Enter any combination of "Marital Status, Allowances, and Additional Amount" in the Federal and State Tax fields.  (State and Federal information may be different.) If you are married, but withhold at the single higher rate, enter as single.
  • Don't forget to deduct any of your regular out-of-pocket deductions for a closer approximation to net pay.  You will need to enter the total amount in the "Other Deductions - post tax"  field.  Examples of out-of-pocket deductions include:

-  Additional Life Insurances (employee, spouse/partner, dependent)
-  Accidental Death & Dismemberment Insurance
-  Short Term and Long Term Disability Insurance
-  Long Term Care Insurance
-  Workers' Comp Assessment
-  Memberships or Dues
-  Garnishments and Fees
-  Athletic Tickets

 * If you are a new employee, you will not have all of this information until you are enrolled for health coverage and life insurances.

To clear the worksheet (and do other estimates):

  • Delete the gross pay amount and any other fields that still appear and need to be changed.

3. Monthly Deadline (for W-4 submission)

W-4s received in the Payroll Office by mid-month will be processed for the month-end payroll.  W-4s received after that time will be processed on the following month's payroll.

See W-4 Withholding on this website for additional information.

 

 

Updated May 22, 2009