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That's just state tax. It's on top of federal tax, which at programmer wages is 32%-37%. At the top end you're paying close to 50% total.
by bananaface 6y ago
That's just state tax. It's on top of federal tax, which at programmer wages is 32%-37%. At the top end you're paying close to 50% total.
- benhurmarcel 6y agoThat's for salary, not capital gain, no?
- joshe 6y agoKind of. The federal rate is 25% for long term holding. But it’s at that higher income tax rate for holding less than a year. In the best case for a CA resident it will be 25% + 13%. But the worst case is as described.
- deleted 6y ago[deleted]