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For a couple making 500K and maxing out their 401Ks, the effective tax rate (state+federal) is 24% in Florida and 31.2% in San Francisco, CA. Which results in
by medvezhenok 4y ago
For a couple making 500K and maxing out their 401Ks, the effective tax rate (state+federal) is 24% in Florida and 31.2% in San Francisco, CA.
Which results in post tax (and post 401K) incomes of 340K (FL) and 305K (SF), or around a 10% difference in post-tax salary.
You can verify this yourself on SmartAsset: https://smartasset.com/taxes/income-taxes https://smartasset.com/taxes/income-taxes