The Long Run Blog

Critical Thinking on Money, Finance, and Economics

The future is California – without the great weather.

California is the most heavily taxed state by most measures according to a recent L.A. Times story. According to the article, the marginal rate on taxable income over $1 million will rise to 10.55% from 10.3%.  The next-highest tax rate, which starts at $94,110 for a married couple filing jointly, will rise to 9.55% from 9.3%. Sales taxes were just increased a full point from 7.25% to 8.25% plus whatever the local municipality tacks on. Here in Santa Clara County the sales tax is 9.25%. Continue reading

May 10, 2009 Posted by | Credit Crisis, Death and Taxes, Uncategorized | 1 Comment

   

Follow

Get every new post delivered to your Inbox.