TaxWatch: California takes bite out of taxpayers' paychecks
Few Californians took note in July when lawmakers passed a budget item raising the state's income-tax withholding rate, but plenty of people are noticing now that their paychecks are smaller. Lawmakers hiked the withholding rates by 10% effective Nov. 1, thereby accelerating $1.7 billion into state...
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- News Source: MarketWatch | 18 days agoBut for those of us living in California, that's exactly what started happening a few days ago. As of Nov. 1, the state tax withholding rates are 10% higher than they were before. That means the state is taking more out of each paycheck, though...
- News Source: The Mercury News | 19 days agoBut if you got a paycheck this week, here's one more thing you may notice: As of Nov. 1, more state tax is being withheld from your income with every check. Here's an explanation, with help from the Franchise Tax Board and local tax preparers, of...
- News Source: MarketWatch | 19 days agoFew Californians took note in July when lawmakers passed a budget item raising the state's income-tax withholding rate, but plenty of people are noticing now that their paychecks are smaller. Lawmakers hiked the withholding rates by 10% effective Nov.
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- Blog Source: meganmcardle.theatlantic.comCalifornia has come up with a novel way to close this year's budget gaps: it's increasing withholding from the paychecks of its citizens. No, the government didn't actually increase taxes; it just raised the withholding. .... Yes, but withholding is
- Blog Source: www.walletpop.comAs of November 1, California is withholding 10% more in income taxes from residents' paychecks. The move is expected to reap $1.7 billion that will be used to plug the holes in the state deficit and keep some money in its ... (The Sacramento Bee has
- Blog Source: radioviceonline.comI looked up the current tax withholding tables for California. If you earn between 25000 and 35000 they currently hold 6% of your income. So a 10% increase on that 6% would mean you are now withholding 6.6% of your paycheck. .... Speak Your Mind.
- Blog Source: blogs.redding.comFor those feeling the pinch of recession and living paycheck to paycheck, that penalty will hurt. "Of course, the government is obliged to return this money next spring when workers get their tax refunds, so this is the ultimate budget gimmick. It
- Blog Source: orangejuiceblog.comAs part of the budget deal negotiated last May, Californians will see an additional 10% in income tax withheld from their paychecks in November and December. “This is a real 'bah humbug' to California taxpayers, who are already ... “The
- Blog Source: proteinwisdom.comKaren Bass, Speaker of the House, “Ol' Cabbage Head,” has consistently had only one solution for the revenue shortfall: raise taxes. No belt tightening. No cutbacks. Just raise taxes and keep handing the money over to fat-ass unionized ...
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Video Source: www.truveo.comLegislature Faces Midnight ...Video Source: www.truveo.comLegislature Faces Midnight Budget Deadline
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