Human Resources says that the bonus for SHARE members at or above their grade maximum will be delivered the same day as the raise to SHARE members' hourly rate. The bonus will be in a separate check, and direct deposited.
Payroll says that the bonus is taxed at the federal "supplemental" flat rate of 25%. That may be higher than your usual federal tax rate. When you add state and other taxes, the total tax rate on the bonus may be around 40%. If that's more than you should owe, it will get adjusted when you file your taxes for the year.
Because of the Columbus Day holiday that week, the raises and bonuses will come on Friday the 18th instead of Thursday the 17th.
For more information about the raise or bonus amount, look here.
Payroll says that the bonus is taxed at the federal "supplemental" flat rate of 25%. That may be higher than your usual federal tax rate. When you add state and other taxes, the total tax rate on the bonus may be around 40%. If that's more than you should owe, it will get adjusted when you file your taxes for the year.
Because of the Columbus Day holiday that week, the raises and bonuses will come on Friday the 18th instead of Thursday the 17th.
For more information about the raise or bonus amount, look here.