How the tax changes affect you

Sept. 16, 2014 11:44 AM PT

Enter numbers, without dollar signs.

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 total 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 would increase by:
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.
Dependent children tax credit would drop by:
Low-income families with dependent children may not earn enough to have their credit changed by this amount. High-income families may not have their credit changed by this amount since personal and dependent credits phase out under existing law.
Sales tax paid annually would increase by:
Based on averages of household spending on taxable items.
Vehicle license fee would increase by:
Based on a rate of 1.15% of the value of all vehicles, up from the current rate of 0.65%.
Estimated annual total increase:

How the tax changes affect you

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