Facts About California State Taxes
The taxes of California fall in three different categories such as taxes on property, taxes on income and taxes on sales. The first one to be put in focus is the income tax as is paid on personal income and varies depending on the size of property. There are six different tax bands and for the first $6,622 dollars of income one percent of tax will be deducted, and this rate goes up by about two percent when the new tax bands are between $6,000 and $15,000 dollars.
The third due bracket is the one that is in the range of $15,000 to $24,000 dollars and the rate for this is four percent. And as the brackets go up so does the percentage by two percent and when it reaches about nine to ten percent it is then payable. For the incomes which are over a million dollars a surcharge of one percent is applied, thus making the highest income margin tax rate in the state of California? The submission of your tax returns should be done by April fifteen each year, they should be made on these following forms form 540A, form 540, form 540EZ and also form 540-ADS.
If couples are going to file there due returns together the levy brackets will be doubled, the issue of sales tax is very different throughout California. In the year 2002 the rate was about 7.24 percent and it included state taxes, local taxes and also county taxes, and the state component is roughly 6.25 percent and can vary depending on the state.