What is the current:
1. U.S. federal income tax?
2. California income tax?
2007-02-27 08:51:13 · 4 answers · asked by bpark73 1 in Business & Finance ➔ Taxes ➔ United States
what is the max income tax for:
1. Federal max income tax?
2. California max income tax
2007-02-27 09:30:02 · update #1
federal - 35%
http://www.irs.gov/formspubs/article/0,,id=150856,00.html
ca - 9.3%
http://www.ftb.ca.gov/forms/06_forms/06_540tt.pdf
2007-02-27 11:03:20 · answer #1 · answered by tma 6 · 0⤊ 0⤋
There is no maximum income. The more you make the more they charge. Some deductions are phased out at higher incomes. Once all your deductions and credits are phased out, the highest Federal tax rate is 35%. If I'm reading the rate schedule correctly, California taxes top out at 9.3%.
2007-02-27 19:02:52 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
It varies by income amount.
2007-02-27 16:55:41 · answer #3 · answered by Wayne Z 7 · 1⤊ 0⤋
It varies by your income and your deductions.
2007-02-27 16:57:59 · answer #4 · answered by Anonymous · 1⤊ 0⤋