Conductors raises are in. When's the backpay?
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I did find out that bonuses are a flat 22% tax rate below $1 million (then its 37%). That's the Fed part, add tier 1/2 and state and yeah...
There is no 42% supplemental income tax rate. They will take out Federal, state , Tier 1 , Tier 2 and Medicare taxes…which will add up to roughly 40%…just like every paycheck NS ever gave you.
They won’t take out healthcare, union dues, or 401k though. So you’ll probably come out a little better percentage wise than on a regular check.
Yup throw a number your way in hopes you don't go through and check it.
Don’t get too excited…you’re only going to see a little more than half of whatever you think you might have coming to you because of the 42% supplemental income tax rate that gets applied to things like bonuses and retroactive pay.
What’s more, you’d almost need to hire a forensic accountant to go through every one of your work assignments over the last two and half years and recalculate the appropriate raise percentage into the basic day, overtime, etc to know if you’re truly getting what you’re owed.
Would it really surprise anybody to learn that the railroad purposefully shorted everyone a little?