Calculate Net Pay | Federal and State Income Tax Activity Sheets | 2023 Tax Year

Taxes... am I right? It's a traditionally hard topic to teach where students can get lost in the math and calculations of our federal and state tax bracket system. This resource is here to help! Students will be given a salary (gross pay), filing status, state of residence, paycheck frequency, and 401k contribution (Traditional and Roth!) which they will have to use to determine how much money they can expect to get in their paychecks.

This hands-on activity allows students to see how FICA taxes are calculated, what happens in the bracket system at the federal and state level, and how Traditional or Roth retirement (401k, IRA, 403b, 457, TSP) contributions impact taxable income as well as paycheck amounts.

Full walk-through of the resource and how it works for students

Compared to the 2022 version, updates this year include:

• Tax tables updated for the 2023 filing year.
• Updated video walk-throughs of a federal and state income tax example calculation linked on each worksheet. (See example)
• Video visual explanation of how federal income tax brackets work using 2022 numbers.

The resource also includes:

• 13 different activity sheets for students to complete.
• 2023 tax tables for federal and 6 states.
• Answer Key

This activity is for the 2023 tax year only. If you would like to own this plus all updates in future tax years included, click here.

For related activities check out my Income Tax Bundle and:

Parts of a Paycheck Definitions Crossword Activity

Federal Income Tax Visualization Activity for 2023 Filing Year

Income Tax Monopoly

Federal and State Income Tax Guided Worksheets

Absolutely loved this purchase. My students thought the instructions were easy to understand and the activities were explained in a way that made it easy for them to complete the assignments.

— Salina D. (Rated 5 out of 5)

This is an outstanding resource for my students, one of the best I have purchased on this site (and I have purchased over 250!).

— Stephanie York [TPT Seller] (Rated 5 out of 5)