To people focused on the marginal error in nyc (or California) where practically all the big numbers are you pay state taxes. Here you go— BowTiedBull - Read Pinned Tweet or NGMI (@BowTiedBull) May 31, 2023
$1M is $536,391 point is the same about half to tax. https://t.co/IcxrZMpbRc pic.twitter.com/su5Cav19ka
It's the same in the biggest province of Canada. A million dollar salary is only $506,381 in your bank account. Of course, you'll have to pay property tax and sales taxes with that income. So, really, it's close to an effective 60% tax rate.