Ohio Paycheck Calculator

Estimate your 2024 Ohio net pay after federal, state, and local taxes. Updated with the latest tax rates.

$

Calculation Results

Gross Pay:$1,600
Federal Tax:$192
Ohio State Tax:$14.15
FICA:$122.4

Net Pay (Per Period)

$1,271.45
Take Home: 88.46%

Where Your Money Goes

Federal
Ohio State
FICA
Take Home

Frequently Asked Questions

What taxes are withheld from my Ohio paycheck?

Your Ohio paycheck will have federal income tax, Social Security (6.2%), Medicare (1.45%), Ohio state income tax, and possibly local taxes withheld.

How accurate is this Ohio paycheck calculator?

This calculator uses the latest 2024 tax rates and brackets for federal, Ohio state, and FICA taxes. However, actual results may vary based on your specific situation and additional deductions.

What is RITA tax in Ohio?

RITA (Regional Income Tax Agency) collects municipal income taxes for many Ohio cities. Local tax rates typically range from 1% to 3%, depending on where you live and work.

Complete Guide to Ohio Paycheck Calculator (2024)

Quick Navigation

Ohio Paycheck Overview

Ohio, a major industrial state in the Midwest, has implemented significant updates to its payroll policies and tax system for 2024. According to recent data, the average household income in Ohio is $67,769 (2023 statistics), showing a 1.16% increase from 2022. Understanding paycheck calculations and tax policies is crucial for anyone working in Ohio.

Key Statistics for 2024

  • Minimum Hourly Wage: $10.45
  • Average Hourly Wage: $27.50
  • Average Annual Salary: $57,200
  • Unemployment Rate: 3.8%

Tax System Explained

Federal Income Tax

Federal tax rates follow a progressive system with seven brackets in 2024, ranging from 10% to 37%. Your applicable rate depends on your taxable income and filing status (single, married filing jointly, etc.).

Ohio State Tax

Ohio employs a tiered tax structure with 2024 rates ranging from 0% to 3.50%. Notably, residents with annual income below $26,050 are exempt from state income tax.

FICA Taxes

FICA taxes consist of Social Security (6.2%) and Medicare (1.45%). Individuals earning over $200,000 annually are subject to an additional 0.9% Medicare surtax.

Paycheck Deductions

Pre-tax Deductions

  • 401(k) Retirement Contributions
  • Health Insurance Premiums
  • Health Savings Account (HSA)
  • Flexible Spending Account (FSA)

Post-tax Deductions

  • Roth IRA Contributions
  • Life Insurance Premiums
  • Union Dues
  • Charitable Contributions

Understanding RITA Local Taxes

The Regional Income Tax Agency (RITA) administers local income taxes for over 300 municipalities in Ohio. Understanding RITA taxes is essential for accurate paycheck calculations.

RITA Tax Key Points

  • Tax Rates: 0.5% - 3% (varies by location)
  • Applies to both workplace and residence cities
  • Potential tax credits for multi-city workers
  • Certain income types may be exempt

2024 Ohio Tax Brackets

Taxable Income RangeTax RateMarginal Tax
$0 - $26,0500.000%$0
$26,051 - $100,0002.750%Up to $2,031
$100,001 and above3.500%3.5% of excess

Paycheck Optimization Tips

Tax Optimization Strategies

  • Maximize pre-tax deductions
  • Understand available tax credits
  • Optimize W-4 withholdings
  • Consider flexible benefit plans

Long-term Financial Planning

  • Maximize 401(k) contributions
  • Utilize HSA/FSA accounts
  • Review insurance needs
  • Monitor tax withholdings

Frequently Asked Questions

How can I reduce my taxable income in Ohio?

Increase pre-tax deductions through 401(k) contributions, HSA contributions, and other eligible benefits. Also, take advantage of available tax credits and deductions to minimize your tax burden.

How do I handle RITA taxes for multiple cities?

If you work or live in multiple cities with RITA taxes, carefully review each city's tax rates and credit policies. Generally, you can receive credit for the higher tax rate between your work and residence locations.

How is overtime pay calculated in Ohio?

Standard overtime pay is 1.5 times your regular hourly rate. Special circumstances (like holidays) may qualify for double pay. All overtime earnings are subject to the same tax withholdings as regular pay.