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Normally the tax rate is a certain % of your income with the State charges and it is flat % of your income and it varies on your income levels and your filing status.
For 2013, --- California Income Tax Rates as of 2013 for single and married filing separately taxpayers:
1% on the first $7,455 of taxable income.2% on taxable income between $7,456 and $17,676.4% on taxable income between $17,677 and $27,897.6% on taxable income between $27,898 and $38,726.8% on taxable income between $38,727 and $48,942.9.3% on taxable income between $48,943 and 250,000.10.3% on taxable income between $250,001 and 300,000.11.3% on taxable income between $300,001 and $500,000.12.3% on taxable income between $500,001 and $1,000,000.13.3% on taxable income of $1,000,001 and above.
You will arrive at your taxable income and then apply the above % to it as CA State Tax.
What is your annual "taxable" income ?
Sorry, I didn't tell you I am married and we file jointly.
So, your CPA is correct. The following rate would apply.9.3% on taxable income between $48,943 and 250,000.
I agree that it is awfully high, but CA has one of the highest rates for State tax.
Is there much of a difference if I file jointly with my husband and our combined income is roughly $130K?
No, there wont be much difference. The rate would remain same.
Do you read my reply ? I had lost connectivity for a while...!
Hello are you there ? Can you read my reply ?
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