Have a Tax Question? Ask a Tax Expert
Hi and welcome to out site!Several issues to discuss.First of all - the gross amount will be reported as your taxable income and added to other taxable income.
Your tax liability would be based on your marginal tax rate.
With 80-100k gross taxable income - most likely you are in 15% or 25% tax bracket - dependuing on your deductions.See tax rate schedule here
Massachusetts state income taxes are extra 5.2%.The amount withheld will be credited toward your tax liability - very similar to withholding from wages.
So - if withholding is more than your total tax liability - you will be entitled for a refund.