Friday, November 6, 2009

CA increase the tax withhold

Look at this link:
http://www.mercurynews.com/top-stories/ci_13723534?nclick_check=1

Essentially, from Nov 1st, CA will increase state tax by 10%. This is not a real tax incease. Meaning that, if this 10% increase ends up more than the tax as of current tax bracket, the state will refund the extra money back to you next year. But the state may have IOU again.

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