In Jiangsu Nantong, if the social security base is 16,300 yuan, the tax deduction calculation is as follows:
- Determine taxable income:
- First, calculate social security deductions. Generally:
- Pension insurance: The individual contribution rate is usually 8%, so the pension insurance deduction is yuan.×8%=
- Medical insurance: The individual contribution rate is about 2%, so the medical insurance deduction is yuan.×2%=
- Unemployment insurance: The individual contribution rate is about 0.5% (the rate may vary slightly in different regions), so the unemployment insurance deduction is yuan.×0.5%=81.5
- The total social security deduction for individuals is approximately yuan.++81.5=1711.5
- Then, calculate taxable income. The formula is: Taxable income = Monthly income - 5000 yuan (tax threshold) - Special deductions (social security, etc.) - Special additional deductions - Other deductions determined in accordance with the law. Assuming no special additional deductions and other deductions, the taxable income is yuan.−−1711.5=9588.5
- Determine tax rate and quick - calculation deduction:
- According to the personal income tax rate table for comprehensive income:
- When the taxable income is between 3000 - 12000 yuan, the applicable tax rate is 10%, and the quick - calculation deduction is 210 yuan.
- Calculate personal income tax:
- Use the formula: Tax payable = Taxable income × Applicable tax rate - Quick - calculation deduction.
- Substitute the values: Tax payable = yuan.9588.5×10%−=958.85−=748.85
It should be noted that the above calculation is based on general situations. In actual situations, special additional deductions (such as for children's education, housing loan interest, etc.) and possible adjustments in social security rates may affect the final tax amount.
