Summary
If you make $166,842 a year living in the region of Iowa, USA, you will be taxed $51,630. That means that your net pay will be $115,212 per year, or $9,601 per month. Your average tax rate is 31.0% and your marginal tax rate is 31.9%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of $100 in your salary will be taxed $31.93, hence, your net pay will only increase by $68.07.
Bonus Example
A $1,000 bonus will generate an extra $681 of net incomes. A $5,000 bonus will generate an extra $3,404 of net incomes.