Tax,
Government
Sep. 7, 2017
California’s 13.3 percent tax rate can encourage wanderlust
California’s Proposition 55 extended the “temporary” 13.3 percent tax rate. How temporary is it? Just until 2030.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Living in California has many perks, but the state's 13.3 percent rate is the highest marginal tax rate in the nation. With up to 39.6 percent federal taxes, it can hurt a lot, especially for those who cannot deduct their state taxes against their federal ones. The high 13.3 percent was supposed to be only temporary.
However, California's Proposition 55 extended the "temporary" 13.3 percent tax rate. How temporary is it? Just until ...
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