scaredyclassic wrote:so how

[ocrenter]

[quote=scaredyclassic]so how does that work?

i give $100 to cal grant.

i get a 50 state tax credit so im out of pocket 50.

then i get to deduct 100 on fed taxes?

say thats worth 35 to me. so for 100 i get 85 in tax breaks. im out 15$.

or i could kerp the 100 pay the full tax burden and keep about 55. im out 45?

is that it?[/quote]

Best scenario is state sets up a charity for you to donate in lieu of state income tax. And you simply get to write off 100% of that donation for the fed government.

Maybe state treasurer Chiang can set this up.