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10% is unreasonable? Are you saying there should be no penalty? I’m arguing it’s low. Every Californian (or anyone living in a state with high income tax) pays
by randomacct3847 8y ago
10% is unreasonable? Are you saying there should be no penalty? I’m arguing it’s low.
Every Californian (or anyone living in a state with high income tax) pays a 10% penalty just to live in that state.
Put another way, withdrawing from a 401k in a state with no income tax would probably amount to the same amount of tax any Californian pays on their normal income.