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In the paragraph below, it says that "A person earning the average tech salart in Silicon Valley would save $42,919 in just five years living in a state like Fl
by DougBTX 14y ago
In the paragraph below, it says that "A person earning the average tech salart in Silicon Valley would save $42,919 in just five years living in a state like Florida where there is no income tax."
The median salary from the chart is $90,000, so I suspect the calculation they did was along the lines of 90000 * 9.3/100 * 5 = $41,850. (Perhaps they used a different average than the chart.)
So, I don't think they know how marginal tax works either.
- forrestthewoods 14y agoActual taxes paid would be $29,866 for single filers. Effective tax rate at 90k works out to 6.64%. https://www.ftb.ca.gov/forms/2012_California_Tax_Rates_and_Exemptions.shtml https://www.ftb.ca.gov/forms/2012_California_Tax_Rates_and_E...