The payment will be taxed at the supplemental rate, which is 22% for federal, 3.5% for state, Medicare of 1.45% and local tax if you currently have it taken out. Retirement will not come out of the payment.
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The payment will be taxed at the supplemental rate, which is 22% for federal, 3.5% for state, Medicare of 1.45% and local tax if you currently have it taken out. Retirement will not come out of the payment.