Summary
If you make $24,960 a year living in the region of Minnesota, USA, you will be taxed $4,268. That means that your net pay will be $20,692 per year, or $1,724 per month. Your average tax rate is 17.1% and your marginal tax rate is 24.5%. 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 $24.48, hence, your net pay will only increase by $75.52.
Bonus Example
A $1,000 bonus will generate an extra $755 of net incomes. A $5,000 bonus will generate an extra $3,776 of net incomes.