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Old 10-02-2013, 09:29 AM
Roger Roger is online now
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Join Date: Dec 1999
Location: McMurray, PA
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Quote:
Originally Posted by Kelly's Landscaping View Post
http://www.tax-brackets.org/californiataxtable the sites I'm looking at are showing many rates this was not my first look and they are coming up consistent.
You are right, I was wrong. I did more checking, and confirmed that CA is a bracketed system, not the straight 12% as I suggested.

Not only is it a bracketed system (with typically higher rates on the lower end than most states that do have an income tax), but includes an uptick on rates for those in high income ranges. One has to be over the $1M mark for the 9.3% "standard" bracket to be in effect, but also a 3% uptick, making the top range 12.3%. Prop 30 was sold as a "tax on the rich" but it successfully dragged in everybody, including those in lower income ranges.

Good catch,... thanks.
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