is 401k contribution exempt from CA state income tax?

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is 401k contribution exempt from CA state income tax?

2006-11-03 16:57:30 · 4 answers · asked by Vincent C 2 in Business & Finance ➔ Taxes ➔ United States

4 answers

Yes...I know because I have both a paycheck before and after contribution.

2006-11-03 17:01:37 · answer #1 · answered by feanor 7 · 1⤊ 0⤋

Your 401k contribution is taken out before taxes are taken out.

2006-11-03 17:17:43 · answer #2 · answered by Vince 6 · 0⤊ 0⤋

401(k) defers federal income tax, but not social security and medicare tax. You still have to those taxes. Also, there is a maximum limit of $14,000/year to contribute to your 401(k), you can't put in more than that.

2016-05-21 22:23:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋

Yes until you start to collect from your 401k.

2006-11-04 02:12:21 · answer #4 · answered by Fly Boy 4 · 0⤊ 0⤋