Q. How much is usually received after taxes on a $25,000 Voluntary Separation Incentive Pay buyout? Also, how is my lump-sum annual leave payment taxed? Is it based on my current exemptions?
A. Taxes, including federal, state, Social Security and Medicare, as appropriate, will be taken from your VSIP and annual leave lump-sum payment. Your payroll office can give you a more accurate picture of what you’ll net from each of those payments.
