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That's state income tax on your second million and above in a given year. The rate on your first million every year is less. Like first-world problems, I gues
by muzz 8y ago
That's state income tax on your second million and above in a given year. The rate on your first million every year is less. Like first-world problems, I guess the tax rate on income over $1MM/yr can be called a California problem.
- leereeves 8y ago> The rate on your first million every year is less. Not much less. It works out to 10.8%, according to CA's tax calculator. https://webapp.ftb.ca.gov/taxcalc/calculator.aspx?Submit=2018+Tax+Calculator&Lang=english https://webapp.ftb.ca.gov/taxcalc/calculator.aspx?Submit=201...