Il Paycheck Calculator

How to Use the Illinois Paycheck Calculator

The Illinois Paycheck Calculator is a valuable tool for determining your take-home pay after deductions. Follow this step-by-step guide to enter your details and calculate your net pay effectively.

Step 1: Input Your Pay Frequency

• Select your Pay Frequency from the available options. This indicates how often you receive your paycheck. The options include:
  • Weekly
  • Bi-Weekly
  • Semi-Monthly
  • Monthly

Step 2: Enter Your Gross Pay

Enter your Gross Pay Per Period. This is your earnings before any deductions are applied. Ensure the amount is a positive number. You can enter amounts in increments as small as $0.01.

Step 3: Select Your Filing Status

• Choose your Filing Status from these options:
  • Single
  • Married
  • Head of Household

Step 4: Specify Federal Allowances

Enter the number of Federal Allowances you are claiming. These allowances can reduce your taxable income. The value must be a whole number and cannot be negative.

Step 5: Include Additional Tax Withholding

If you wish to have extra tax withheld from your paycheck, enter the amount under Additional Tax Withholding. This step is optional, and the amount should be a non-negative value, specified in increments of $0.01.

Step 6: Calculate Deductions and Net Pay

Once all input fields are completed, the calculator will automatically compute the following:

• Federal Income Tax: This is calculated using the entered gross pay, filing status, federal allowances, pay frequency, and any additional withholding.
• Illinois State Tax (4.95%): This is 4.95% of your gross pay.
• Social Security Tax (6.2%): This is 6.2% of your gross pay.
• Medicare Tax (1.45%): This is 1.45% of your gross pay.
• Total Deductions: The sum of all taxes calculated above.
• Net Pay: Calculated as your gross pay minus total deductions.

Step 7: Review Your Annual Pay

The calculator will also display your Annual Gross Pay and Annual Net Pay, estimated based on the pay frequency and calculated net pay.

By following these steps and entering accurate information, you can efficiently calculate your paycheck and understand the effects of various deductions on your net pay.