Vermont Weather (2851 replies) Latest news from Albany, VT collected exclusively by city-data.com from local newspapers, TV, and radio stations. Ancestries: English (35.7%), French (19.0%), German (11.0%), French Canadian (7.1%), Italian (7.1%), Scottish (7.1%). Current Local Time: EST time zone. Incorporated in 1915.
Related QuestionsMore Answers Below. 1  Why do people complain about the cost of living in the Bay Area so much when it seems like two successful software engineers (with a realistic... 2  How realistic is asking for a 175k base salary, 20% bonus, and 100K in stock per year at a very successful software corporation in the Bay Are...
Federal Tax Withholding. Employers have the option on bonus payments of withholding tax at the same rate as your regular paychecks or at a flat 25 percent. Many employers chose the 25 percent option. This choice makes the calculation easy and avoids trying to find out if the bonus puts the employee into another tax bracket. The 25 percent withholding rate can be used on bonus payments up to $1 million. Above $1 million, the amount of bonus above that level is withheld at 35 percent. Social Security and Medicare. Social Security and Medicare taxes will also be withheld from your bonus check.