To calculate your net pay or take-home pay in West Virginia, enter your period or annual income and the required federal, state, and local W4 information into our free paycheck calculator. West Virginia has a five-bracket progressive state income tax system with rates ranging between 3.00% and 6.50%. In addition, four cities levy City Service User Fees.
West Virginia, a wild and wonderful state situated in the Appalachian region of the Southern United States. It shares its border with Maryland to the east and northeast, Kentucky to the southwest, Ohio to the northwest, Pennsylvania to the north, and Virginia to the southeast.
The state ranks 38th in population and 41st largest state by area. Charleston is the largest and the capital of the state, besides Huntington-Ashland Tri-State Area is the state's largest metro.
West Virginia, also known as the Mountain State, gives countless reasons to settle, including unbelievably low cost of living, beautiful nature, and lack of crowds. So if you have finally realized that no state is better than West Virginia to start a new life with a new job or business, you must continue reading.
Our Finance and travel experts have joined hands, shared their expertise, surfed every corner of the Internet and pored over endless travel brochures to bring you one-of-its-kind West Virginia guide that covers the following topics:
We hope this guide will ensure you feel right at home with your family in Ol' Westie from day one. So let's get started!
If you are mulling over to relocate to West Virginia, you must about know all the intricacies of life in the Wild and Wonderful state:
WV has an unbelievably low cost of living. As reported by bestplaces.net, the cost of living index in West Virginia is 78.1, which is significantly lower than the national average of 100 points. Housing in West Virginia is ridiculously cheap, resulting in an overall lower cost of living. Whereas other factors like grocery, health, utilities, transportation, and miscellaneous expenses are somewhat similar to the national average.
As discussed earlier, the house is pleasantly affordable to buy or rent in West Virginia. The median home value on WV is $96,400, which is significantly lower than the nationwide median home value of $231,200. Moreover, the Median rental expense in the state for a single bedroom is $600, while for a double bedroom is $729. However, if you are planning to rent a house in the state's capital, Charleston, then you can rent a single bedroom apartment for around $1,172/month.
Although housing is cheaper throughout the state, still the most affordable places to live in West Virginia include Weirton, Grafton, Clarksburg, and Bluefield.
West Virginia has the 3rd highest high-school graduation rate and is ranked on 37th spot among 50 states with 50 schools, according to USA Today. So it neither good nor bad overall.
Some of the renowned schools, colleges, and universities include West Virginia University (Morgantown), West Virginia State University (Institute), Ohio County Schools (Wheeling), and Monongalia County Schools (Morgantown).
West Virginia has plenty of fun places to keep you entertained, including natural attractions like Heritage Farm Museum & Village, Harpers Ferry, The Greenbrier, New River Gorge National River, and West Virginia Botanic Garden. Moreover, you can also enjoy your time in State parks like Grandview State Park and Blackwater Falls State Park. Additionally, the Mountain State also has plenty of museums, amusement parks, and places for delicious Food & Drinks.
Living in West Virginia, you will experience warm to hot, humid summers and chilly winters, which obviously increases in severity with elevation. The state overall has a humid subtropical climate. Moreover, the state also has risks and threats of natural disasters, especially flooding, but fortunately, the WV state is ranked on #4 out of all 50 states on Gold Eagle's state natural disaster preparedness list.
The current unemployment rate in West Virginia is 5.4%, and the current minimum wage rate is $8.75. Moreover, the state secures the 50th spot for the economy, which is obviously not too appealing. However, there is still hope for you. The fastest-growing job here includes physical therapists, nurse practitioners, home health aide, and industrial mechanic. Moreover, the highest-paying jobs in the state contain physicians, surgeons, and nurse anesthetists.
Moreover, if you are looking for opportunities in WV as an entrepreneur than you are suggested to look for it in industries like Mining (coal, natural gas, etc.), Healthcare, Chemicals, and Biotech.
Here is the quick round-up of all the likes and dislikes about West Virginia:
As we are done with relocation to West Virginia and its payroll facts, now it's time to calculate paycheck.
The very first step to calculating the paycheck amount is to determine Gross Pay. It is a wage that an employee earned in the last pay period.
Gross Pay is calculated differently for both hourly and salary-based employees, which is discussed in detail as follow:
Hourly Employees are paid at a mutually agreed pay rate for each hour they work in a pay period. Usually, Pay periods for Hourly employees are Hourly, Daily, Weekly, and Bi-Weekly. However, the Federal, State, and Local Wage law requires the employers to set the pay rate equals to or more than the defined Minimum Wage Law for the non-exempted employees.
Hourly employees are also entitled to receive overtime, for each excess hour worked after regular hours in a workday or a workweek. Remember, like Minimum wage, the employers are also required to follow Overtime wage law provided by the federal, state, and local authorities.
To calculate gross wage for an hourly employee:
Salaried Employees are paid at the flat amount rather than on an hourly basis. The amount is usually mutually agreed as an Annual Salary, which is then paid in Semi-monthly or Monthly Pay periods.
Salaried employees are mostly exempted from overtime law. However, their salaries must be according to Federal and State Minimum Wage law.
To calculate Gross Pay for Salaried Employees:
Don't forget that Supplemental Wages like Bonuses, commissions, tips, paid leaves, fringe benefits, or other taxable wages earned by the employee must be added into the Gross wages.
Once you are done with Gross Wages, it's time to subtract any Pre-Tax deductions from the gross wage to get taxable wages as Pre-tax deductions are not taxable for federal payroll taxes.
Pre-tax deductions are offered to the employees as benefits like fringe benefits, HSA plans, etc., to reduce their taxable income, hence, increasing their take-home pay amount. Remember, not all benefits are exempted from taxes, so choose the pre-tax deductions wisely.
Some of the common pre-tax deductible benefits are:
Many Taxpayers find it hard to itemize their deductions to calculate taxable wages, for which they go for standard deductions, that varies according to the filing status, as shown in the table below:
Filing Status | Standard Deduction Amount |
---|---|
Single Filers | $12,200 |
Married, Filing Jointly | $24,400 |
Married, Filing Separately | $12,200 |
Head of Household | $18,350 |
Once you have determined the taxable wages, it's time to deduct Federal Income taxes for the taxable wages.
IRS requires the employers to withhold federal income tax from the employee's paycheck, according to the details provided by the employee on Form W-4. The employee fills this form at the start of the job. The form includes all the necessary information, including income, number of allowances to claim, number of dependents, amount of additional taxes to deduct, and much more.
The employees are required to keep their Form W-4 up to date with all their current information, especially marriage, divorce, or child's birth.
The federal income tax is charged according to the tax brackets in which the taxpayer's income falls. The latest income tax brackets and rates are as follow:
Taxable Income | Rate |
---|---|
$0 - $9,700 | 10% |
$9,700 - $39,475 | 12% |
$39,475 - $84,200 | 22% |
$84,200 - $160,725 | 24% |
$160,725 - $204,100 | 32% |
$204,100 - $510,300 | 35% |
$510,300+ | 37% |
Taxable Income | Rate |
---|---|
$0 - $19,400 | 10% |
$19,400 - $78,950 | 12% |
$78,950 - $168,400 | 22% |
$168,400 - $321,450 | 24% |
$321,450 - $408,200 | 32% |
$408,200 - $612,350 | 35% |
$612,350+ | 37% |
Taxable Income | Rate |
---|---|
$0 - $9,700 | 10% |
$9,700 - $39,475 | 12% |
$39,475 - $84,200 | 22% |
$84,200 - $160,725 | 24% |
$160,725 - $204,100 | 32% |
$204,100 - $306,175 | 35% |
$306,175+ | 37% |
Taxable Income | Rate |
---|---|
$0 - $13,850 | 10% |
$13,850 - $52,850 | 12% |
$52,850 - $84,200 | 22% |
$84,200 - $160,700 | 24% |
$160,700 - $204,100 | 32% |
$204,100 - $510,300 | 35% |
$510,300+ | 37% |
Besides, Federal Income Tax, the IRS also requires the employer to withhold FICA tax (15.3%) for the employee's paycheck and also requires the employer to pay an equal amount for each employee.
Federal Insurance Contributions Act (FICA) Taxes comprises of two types of taxes which are as follow:
A total of 12.4% of social security tax is charged from which 6.2% is withheld from the employee's gross, and the employer pays the matching 6.2%. However, Social Security is only charged on the maximum taxable earnings of $137,700 for 2023.
A total of 2.9% of Medicare is charged, from which 1.45% is withheld from the employee's gross, and the employer pays the matching 1.45%. Unlike Social Security, there is no maximum table earning limit for this tax. However, an additional surtax of 0.9% is charged as Additional Medicare Surtax on the employees having income over the specified level along with filing status, which is as follow:
Income Over | Filing Status |
---|---|
$250,000 | Married Filing Jointly |
$125,000 | Married Filing Separately |
$200,000 | Single |
IRS requires the employer to pay another tax, known as The Federal Unemployment Tax Act (FUTA) Tax. This tax is paid at the rate of 6% on the first $7000 earned by each employee in a year. However, the IRS doesn't require the employees to contribute to it.
The employers who pay State Unemployment Insurance (SUI) tax in full and on time are given relieving FUTA tax credit of up to 5.4%, which saves a whopping 90% from FUTA Tax.
Post-tax deductions (after-tax deductions) is an amount the employer takes out from the employee's paycheck after taxes. Therefore, it does not affect taxable wages and the amount of tax payable.
Here are some of the types of post-tax deductions that employee may voluntarily choose:
As you are done with Federal Payroll Taxes, now it's time to discuss State Payroll Taxes. The West Virginia State charges State Income Tax on employees, and State Unemployment Insurance (SUI) Tax on the employers.
West Virginia State levies State income tax from employee's paycheck according to the progressive income tax system, at the rate ranging between 3% and 6.5%, distributed in five tax brackets determined by income level and filing status. Moreover, Supplemental wages and bonuses are to be charged at the same rates.
The employer withholds this tax from the employee's paycheck according to the details provided by the employee in the Form WV/IT-104. This form is filled by the employee while joining the job. Employees are required to keep the form updated with any significant life events like marriage, child's birth, and divorce.
West Virginia Taxable Income | Rate |
---|---|
$0 - $10,000 | 3.00% |
$10,000 - $25,000 | 4.00% |
$25,000 - $40,000 | 4.50% |
$40,000 - $60,000 | 6.00% |
$60,000+ | 6.50% |
West Virginia Taxable Income | Rate |
---|---|
$0 - $10,000 | 3.00% |
$10,000 - $25,000 | 4.00% |
$25,000 - $40,000 | 4.50% |
$40,000 - $60,000 | 6.00% |
$60,000+ | 6.50% |
|
|
---|---|
West Virginia Taxable Income | Rate |
$0 - $5,000 | 3.00% |
$5,000 - $12,500 | 4.00% |
$12,500 - $20,000 | 4.50% |
$20,000 - $30,000 | 6.00% |
$30,000+ | 6.50% |
West Virginia Taxable Income | Rate |
---|---|
$0 - $10,000 | 3.00% |
$10,000 - $25,000 | 4.00% |
$25,000 - $40,000 | 4.50% |
$40,000 - $60,000 | 6.00% |
$60,000+ | 6.50% |
The State Unemployment Insurance (SUI) Tax is an employer-funded program that provides temporary income to unemployed workers who have lost their job without fault of their own.
The state doesn't charge in West Virginia State Disability Insurance (SDI) tax on employers. However, it does require the employers to pay West Virginia State Unemployment Insurance (SUI) tax, at the rate ranging from 1.5% to 8.5% on a first $12,000 earned in wages by each employee in a year. However, new employers are given relief as they have to pay a flat rate of 2.7%.
No city or county in West Virginia levies Local Income Tax. However, many cities in the state charge a City Service Fee. Details are as follow:
City | Rate |
---|---|
Montgomery | $1 per week |
Fairmont | $2 per calendar week (for weekly employees) |
Weirton | $2 per calendar week (for weekly employees) |
Parkersburg | $2.50 per calendar week |
Madison | $2.50 per calendar week |
Morgantown | $2.50 per calendar week |
Charleston | $2.50 per calendar week |
Huntington | $5 per calendar week |
Now that you are done with all payroll taxes and calculated the net take-home pay of an employee, it's time to cut the paycheck. Moreover, you, as an employer, must pay your portion of FICA tax along with FUTA and SUI tax in full and on time regularly.
Answer: Following are the Payroll taxes taken out of an employee's paycheck in West Virginia:
Answer: Following are the WV state Income tax percentages and tax brackets:
For "Single" and "Married, filing jointly" and ""Head of Household" filers:
For and "Married, filing separately" filers:
Answer: The average salary in West Virginia for a Male is $58,198 and for Female is $40,275, according to Datausa.io.