[quote=UCGal][quote=ctr70]
There is no way paying a little extra sales tax is equivalent to paying 10.3% state income tax on say $350k AGI! For someone who makes $350k a year that is $35k+ out the door to the mental midgets in Sacramento that you wouldn’t have to pay in WA State! I’m a frugal guy and I don’t buy a lot of shit so sales tax wouldn’t affect me much. I would save huge by moving my business to WA State.[/quote]
I don’t think that’s how it works. The higher rate is tiered. So you pay the same taxes as always on your first $250k of AGI. Then a higher rate on the amount ABOVE $250k.
I could be wrong – but that’s how I read it.[/quote]
CA income tax is very progressive. By the time you hit $47k, you’re already paying 9.3%. So, although it might not be $35k+, it should definitely be $30k+.
