Tax Rate In California
The tax rate in California in terms of individual income tax is considered as the second highest tax rate in the US which is at 10.3 percent if you have earnings that exceed $1 million. Under California law, S corporations, such as sole proprietorship and small businesses, pay the same rate as individual tax payers. The tax rate in California is based on the rate of inflation between July 1 and June 30 and has three schedules – Schedule Y, Schedule X, and Schedule Z. Schedule X is for single taxpayers or married couples who file their income return separately; while Schedule Y is for married couples who file jointly and widows or widowers with dependents. However, if you are single and the head of the family, you fall under Schedule Z. On the other hand, the sales tax rate in California has special jurisdictions which range between 0.10 percent and 1.00 percent per district in addition to the 7.25 percent state-wide rate.