TikTok Video Reveals $100K Salary Breakdown After Maine Taxes

You know the old saying, “The only two things you can count on are death and taxes.” It was Benjamin Franklin who popularized this phrase in a letter he wrote in 1789 to physicist Jean-Baptiste Le Roy:

Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.

Truth!

Those of us who live in Maine know all about taxes. But have you ever wondered just how much of a cut is taken from your salary each year?

The Next Gen Business account on TikTok has quick videos that run the numbers on the impact of taxes for each state, as well as many countries across the globe.

When it comes to Maine, the account started with a nice round number of $100,000 for a salary. Let’s be honest, not a lot of individuals in Maine make over $100,000. Even the median income for married couples with children in Maine is a little less than $70,000. So these numbers likely won’t fit a lot of people’s salaries, but it gives you an idea of how much you’d have left if you had an annual salary of $100,000.

28.18% of your $100,000 salary goes to taxes. We all know that the government takes a lot, but when you see it in the numbers, it’s kind of ridiculous. For the record, the current state tax rate in Maine ranges from 5.8%-7.15%, depending on your income.

Source: Next Gen Business, TikTok