What Does a $100,000 Salary Actually Look Like in Louisiana?
$100,000 dollars seems like it would be a great salary. For a lot of people in Louisiana not only would be considered a great salary it represents a number that is over three times the average annual income earned by workers in the state.
For reference purposes, a Google search of "What is the average income in Louisiana" returned this number, $27,139.00. That figure is based on an individual salary. For households in the state, the number is slightly over $50,000. So, that's an income for two people and it still doesn't reach the $100,000 threshold.
But what does "earning $100,000 a year" really mean if you're earning that figure in your job in Louisiana? As you have probably figured out by just looking at your own paycheck what your compensation is and what you actually get paid are two very different numbers.
As you might imagine the biggest chunk of your check that doesn't come home with you goes to state and federal tax coffers. In Louisiana, the rate for single tax filers is about 3.67% however, the collective tax burden on single filers works out to be about 25.58%, if you file jointly your collective tax burden drops to about 18.98%.
So how does that affect a $100,000 salary? Well, you don't have to be too good at math to figure out that if the government is taking roughly 25% of your money you're going to be left with 3/4 of $100,000 or about $75,000. The actual number according to GoBankingRates.com is $74,420.
That number does jump up to $81,026 for those who are married filers, again the figures we are using can be attributed to GoBankingRates.com. Basically, for every dollar you earn, you're giving "the government" .20 to .25 cents.
While that might seem a bit out of line, it really isn't when you compare the same salary with tax rates in states like Mississippi, Alabama, Arkansas, and even Texas. I guess, it is what it is. And if you're fortunate enough to have an annual salary of $100,000 or more consider yourself lucky. You're earning three times the annual income in Louisiana but you're at least close to being at the top of what is considered to be middle class.
19 Straight Up Facts You Can't Argue with About Louisiana