Summary
If you make $2,976 a year living in the region of Iowa, USA, you will be taxed $230. That means that your net pay will be $2,746 per year, or $229 per month. Your average tax rate is 7.7% and your marginal tax rate is 8.0%. 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 $7.98, hence, your net pay will only increase by $92.02.
Bonus Example
A $1,000 bonus will generate an extra $920 of net incomes. A $5,000 bonus will generate an extra $4,601 of net incomes.