Idaho Salary Paycheck Calculator
Our Idaho Salary Paycheck Calculator helps you calculate your take-home pay while ensuring you take every tax consideration into account. This tool provides quick and reliable net income estimates after accounting for federal, state and local taxes.
Discover how the Idaho paycheck breaks down with just a few clicks.
Gross To Net Calculator
The amount that remains after these deductions are considered your net pay.
Idaho taxes: What You Need to Know
Understanding Idaho’s tax landscape is crucial for accurate paycheck calculations. Let’s break down the key components.
Idaho employs a flat income tax rate of 5.695% for all taxpayers, effective from January 1, 2024. This rate applies to taxable income over $2,500 for single filers and $5,000 for joint filers. Local taxes in Idaho are minimal, with only a few municipalities imposing additional levies.
Like all US workers, Idahoans contribute to Social Security and Medicare through FICA taxes. These federal programs ensure retirement and health benefits. Idaho doesn’t impose additional state-specific insurance taxes, simplifying your paycheck calculations.
Smart financial planning often involves pre-tax deductions. Common examples include contributions to 401(k) retirement plans and health insurance premiums. These deductions lower your taxable income, potentially reducing your overall tax burden.
| Tax Type | Rate | Notes |
| Idaho State Income Tax | 5.695% | Flat rate on income above $2,500 (single) or $5,000 (joint) |
| Federal Income Tax | Varies | Progressive rates from 10% to 37% based on income brackets |
| Social Security tax | 6.2% | On first $160,200 of earnings |
| Medicare Tax | 1.45% | No income limit; additional 0.9% on earnings over $200,000 |
| States Sales Tax | 6% | Average combined state and local rate: 6.03% |
Idaho’s tax system ranks 16th on the 2024 State Business Tax Climate Index, reflecting its competitive stance. With no estate or inheritance tax and relatively low property tax (0.47% effective rate on owner-occupied housing), Idaho offers a balanced tax environment for residents and businesses alike.
Median Household Income in Idaho
Understanding Idaho’s median household income provides crucial context for the state’s tax structure and overall economic health.
The median household income in Idaho for 2023 amounted to $73,910. Let’s examine how it compares to the national figures.
| Year | Idaho Median Household Income | National Rank |
| 2022 | $75,624 | 23rd |
| 1999 | $68,717 | Not available |
| 1989 | $62,063 | Not available |
The median household income has steadily grown over the decades, reaching $75,624 in 2022. This places the state squarely in the middle of national rankings at 23rd out of 50 states. While not among the highest-income states, Idaho’s position reflects a balance between economic opportunity and cost of living.
It’s important to note that these figures are adjusted for inflation, providing a more accurate picture of purchasing power over time.
As we discuss Idaho’s tax brackets for 2024, keep in mind how these income levels interact with the state’s flat tax rate.
Idaho Tax Brackets 2024
Idaho’s tax system has undergone significant changes in recent years, culminating in a simplified tax structure for 2024. The state has moved to a flat tax rate, making calculations more straightforward for residents and businesses alike. This change reflects Idaho’s commitment to creating a competitive tax environment while maintaining necessary revenue for state services.
Here’s a breakdown of Idaho’s tax brackets for 2024:
| Filing Status | Taxable Income | Tax Rate |
| Single | $0 – $2,499 | 0% |
| Single | $2,500 and above | 5.695% |
| Married Filing Jointly | $0 – $4,999 | 0% |
| Married Filing Jointly | $5,000 and above | 5.695% |
A few key points to remember:
- The flat tax rate of 5.695% applies to taxable income above the threshold amounts.
- These thresholds ($2,500 for single filers and $5,000 for joint filers) are indexed for inflation annually.
- This new structure, implemented by House Bill 521, is effective retroactively from January 1, 2024.
It’s worth noting that while Idaho has simplified its state income tax, other taxes and credits still apply. For instance, the state maintains a 6% sales tax rate, and various deductions and credits are available to eligible taxpayers.
Wrapping It Up
As we conclude our exploration of Idaho’s paycheck landscape for 2024, it’s clear that the Gem State has taken significant steps to simplify its tax structure.
Understanding them is critical for accurate paycheck calculations and efficient financial planning. As Idaho continues to evolve its tax policies, staying informed about these changes will help you make the most of your hard-earned income and contribute to the state’s thriving economy.
Frequently Asked Questions
Our Idaho Paycheck Calculator primarily focuses on state and federal taxes. Unlike some states, Idaho has very few local income taxes. For the most accurate calculation, check with your local government or employer about any city-specific taxes that might apply to your paycheck.
Yes, Idaho offers several state-specific deductions and credits. Some notable ones include:
- The Grocery Tax Credit, which offsets sales tax paid on food items
- The Child Tax Credit, worth up to $205 per eligible child
- The Maintaining-a-Home Tax Credit for those caring for elderly or disabled family members
Yes, our Idaho Paycheck Calculator is regularly updated to reflect the most current tax laws. For 2024, it incorporates the new flat tax rate of 5.695% for taxable income above the specified thresholds.
Idaho’s state tax is generally simpler than federal taxes due to its flat rate structure. While federal taxes use a progressive bracket system, Idaho applies a single rate of 5.695% above certain income thresholds. However, Idaho generally conforms to federal tax laws for many deductions and credits.
Simply add the total gross income from all your jobs in the “Gross Income” field. Keep in mind that this might affect your overall tax bracket, especially for federal taxes. Consider calculating each job separately and then combining the results for the most accurate results
The Idaho Paycheck Calculator includes fields for common pre-tax deductions such as health insurance premiums and 401(k) contributions. Enter these amounts in the appropriate fields, and the calculator will adjust your taxable income accordingly before calculating state and federal taxes. This ensures a more accurate estimate of your take-home pay.
To calculate your joint income using the Idaho Paycheck Calculator, follow these steps:
- Select “Married Filing Jointly” as your filing status.
- Enter your combined gross income from both spouses.
- Input any joint pre-tax deductions or contributions.
- The calculator will automatically apply the appropriate tax rates and deductions for joint filers, including the higher income threshold for Idaho’s flat tax rate.
