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Also, it's worth noting that effective tax rates in California are some of the highest in the first world. Your effective tax rate (on income) in San Jose (if
by rsync 11y ago
Also, it's worth noting that effective tax rates in California are some of the highest in the first world.
Your effective tax rate (on income) in San Jose (if you are someone who is a net tax-payer) is 50%, give or take[1].
That's more than even the nordic darling utopia countries.
[1] 39%, plus either 11.x or 12.x or 13.x, depending on your tax bracket.
- danans 11y agoWhile it's true Californians pay high effective tax rates, the specific rates you are referring to are the top marginal fed and california rates, not effective rates: http://www.investopedia.com/terms/e/effectivetaxrate.asp http://www.investopedia.com/terms/e/effectivetaxrate.asp