Summary
If you make $988,000 a year living in the region of New York, USA, you will be taxed $426,363. That means that your net pay will be $561,637 per year, or $46,803 per month. Your average tax rate is 43.2% and your marginal tax rate is 46.7%. 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 $46.70, hence, your net pay will only increase by $53.30.
Bonus Example
A $1,000 bonus will generate an extra $533 of net incomes. A $5,000 bonus will generate an extra $2,665 of net incomes.