Florida paycheck calculation overview
Calculating paychecks involves a few simple but crucial steps. We take an employee’s gross pay, subtract all deductions from taxes and employee benefits, and factor in requested allowances. The resulting number is their net pay, also known as take-home income.
In Florida, payroll processing involves:
- Federal tax withholding
- Overtime
- Commission
- Bonuses
- Additional withholdings
How to calculate your employee’s paycheck
Our hourly and salary calculator for Florida relies on a few key details. Whether businesses use our calculator or do their own payroll, accurate information is essential. To estimate how much you owe an employee per pay period, follow these steps:
1. Input employee information
First, enter your employee’s name and state of residence.
2. Fill in payroll details
Enter payroll details in the fields labeled Pay Type, Pay Rate, Hours Worked, Pay Date, and Pay Period. Be sure to start with Pay Type, since hourly and salaried workers calculate their income differently.
Enter a worker’s hourly wage under Pay Rate, and specify the number of hours they put in under Hours Worked. If they clocked in for over 40 hours, keep the amount of overtime in mind for the next section.
Entering salaried pay is simple. Because the Pay Rate and Hours Worked fields will disappear, you only have to enter their income for a pay period under the section labeled Amount.
For hourly and salaried employees, finish this step by setting the pay date and pay frequency.
3. Include additional payments
Four fields will populate if your employee is hourly: Overtime Hours, Commission, Bonuses, and Salary. Additional pay related to these categories will affect take-home income.
Salaried employees will only generate fields for Bonuses and Commissions. If applicable, fill in those amounts.
4. Provide your employee’s federal tax information
Next, provide the employee’s number of allowances, filing status, and additional withholdings. You can find all of this information on their W-4. If you haven’t received their W-4 yet, our calculator will fill in tax rates and provide an estimate.
5. Input the employee’s state tax information
Here, you’ll enter the same information on allowances, filing status, and additional withholdings. Since Florida has no state income tax, this section won’t bear as much on net pay.
6. Calculate the paycheck
Select Calculate Check, and we’ll estimate your employee’s earnings for the pay period entered.
How much is taken out for taxes in Florida?
The amount deducted from a paycheck depends on the employee’s income, tax bracket, and filing status. Florida tax withholdings only include federal and pre-tax deductions. Because Floridians don’t pay any state income tax, their take-home pay may be higher than workers in other states.
Federal tax withholdings
Even though Florida has no state withholdings, employers still have to consider Federal tax withholdings. This deducted income goes toward federal income taxes, Social Security, and Medicare. The tax bracket an employee falls into depends on their annual income.