In NYC and SF, You Need a $300,000 Salary to Take Home $100,000 After Taxes

April 16, 2023

(Bloomberg) -- It’s tax season in the US, and nowhere is that felt more acutely than in three cities — New York, San Francisco and Honolulu — where you need a salary of over $300,000 to bring home $100,000 after taxes and adjustments for the cost of living. And since high-earners are taxed upwards of 40% in those cities, they need to command top dollar for their take-home pay to actually feel like six figures. In cities like El Paso, Corpus Christi and Lubbock, salaries can be as low as $122,000 and still feel like a true $100,000. After two years of red-hot inflation, many are taking the uneven landscape of taxes and cost of living across the country into serious consideration. In New York, State Comptroller Thomas DiNapoli has cautioned against raising taxes that may prompt more wealthy residents to leave and further erode the state’s revenue base.