The $100,000 Salary Analysis for Bennington CDP, VT

This guide assumes a $100,000 annual gross salary for a single filer with standard deduction. Figures are estimates; consult a CPA for precise filing.

1. The Verification Test

Breaking down your gross salary reveals what actually hits your bank account.

• Federal Tax: ~$14,000 (12% marginal bracket, effective ~14%).
• FICA (SS/Medicare): $7,650 (7.65% flat).
• Vermont State Tax: ~$4,800 (Top marginal rate of 6.6% kicks in early; effective ~5.5%).
• Net Pay (Annual): ~$73,550
• Net Pay (Monthly): ~$6,129

2. Smart Budget (50/30/20)

Based on a monthly net of $6,129.

• Needs (50% / $3,064):
  • Rent (1BR): $950 - $1,100 (Market average).
  • Utilities (Heat/Elec/Internet): $250 - $350 (Winter heating costs are high).
  • Car Insurance/Gas: $300 (Rural area; car is mandatory).
  • Groceries: $400.
• Wants (30% / $1,838): Discretionary spending.
• Savings (20% / $1,225): Retirement or emergency fund.

3. Bennington CDP Tax Context

Vermont is a high-tax state compared to the national average.

• Vs. Low-Tax (Texas/Florida):
  • No state income tax.
  • Savings: You would keep an extra $4,800/year.
  • Trade-off: Property taxes in VT are generally lower than in TX/FL to offset this.
• Vs. High-Tax (California/NY):
  • Top marginal rates exceed 10%.
  • Loss: You would pay ~$3,000 - $5,000 more in state tax for the same income.

4. FAQ

"Is $100k good here?"
Yes, but not "wealthy." It is ~1.6x the median household income for Bennington CDP. You will live comfortably, own a car, and afford a decent apartment, but high utility costs and state income tax erode the nominal amount.

"Local income tax?"
No. Bennington CDP does not levy a local income tax. You only pay Federal and Vermont state taxes.