Estimated Calif. tax increase

April 3, 2013 8:02 PM PT

How California’s tax changes affect you
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For estimation purposes only. Calculations are based on statewide medians and averages and does not fully take into account taxes on purchases of big-ticket items, specific tax deductions such as large mortgages, etc. Federal tax implications are not taken into consideration. Married classification assumes married couples and registered domestic partnerships filing jointly. Single with children assumes head of household status.

Sources: California Legislature; Tax Foundation; Census Bureau; State of California Franchise Tax Board

Los Angeles Times

Marriage classification:	Single Married
Annual income:	$
Number of dependent children:
Estimated value of car(s) licensed:	$
The Department of Motor Vehicles has its own depreciation formula, but the blue book value will provide a reasonable estimate.

State income tax increase
Based on a 0.25 percentage point increase across all brackets. That increase may be reduced to 0.125 percentage point depending on federal funding.
Tax credit reduction
Low-income families with dependent children may not earn enough to lose this credit. Personal and dependent credits phase out under existing law for high-income families.
Annual sales tax increase
Based on averages of household spending on taxable items.
Vehicle license fee increase
Based on a rate of 1.15% of the value of all vehicles, up from the current rate of 0.65%.
Est. annual increase:

Estimated Calif. tax increase

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