.jpg)
California Governor Arnold Schwarzenegger
AP Photo/Rick Bowmer
AB 17 which was enacted by the California legislature and signed by Governor Schwarzenegger, requires the California Franchise Tax Board to adjust the payroll withholding table with an increase. The payroll withholding tables apply to pensions, as well as wages.
AB 17 will increase payroll withholding by 10 percent, effective for wages paid after October 31, 2009. Withholding on supplemental wages increase from 6 percent to 6.6 percent effective for supplemental wages paid after October 31, 2009 and for stock options and bonus payments it will increase from 9.3 percent to 10.2 percent.
To give you an idea what that will mean to you, as an example, if state income tax withholding is $500 a pay period on November 1, it will be adjusted to $550.00
The law also increases the second quarterly estimated tax payment from 30 to 40 percent and the fourth quarterly installment from 20 to 30 percent.
The AB 17 increases the payroll tax withholding and it does not increase California personal income tax rates.
To help offset the extra money taht will be taken out of your paycheck, you can fill out a DE-4 form increasing your exemptions, for example from single 2 to single 3 and it will not change your federal exemptions, just your state exemptions. The form is available on the EDD website. If you would like to adjust your withholding click here to get the form.
.
Comments
California spends too much money, our money.
Yes, California spends our money...and gives it to all the illegal immigrants, crossing the border! Free education (AB540), free medical, free services. I need to change my name and get a tan!
I recently had the "pleasure" of hearing our governor speak and I almost came unglued when he inferred that raising taxes and laying off employees is just a sign of the times. Increased taxes under his regime have driven private industry out of California. This leaves us unemployed, while carrying the tax burdens. At this point, I'm feeling inspired to move out of state as well...the year-round sunshine is not worth the abuse!
BTW, it's not just ILLEGAL IMMIGRANTS that abuse the free system....there are plenty of US CITIZENS WITHOUT TANS that think picking up a welfare check is the equivalent of a job. The "illegal" argument is a diversionary tactic used by politicians to help us lose focus of the greater issue. Abuse of a free system is a abuse, regardless of who is doing it.
This was it... I officially moved my company, as of 2 minutes ago to Arizona. Lots of sun there too. Count me as one more person and company leaving CA. By the way I take 10 jobs with me, and 3 of my employees are moving to Tucson as well, to keep their jobs. Heck, on their salaries, they can affod to actually buy a house in AZ and not rent in CA.
Who gives you permision to TAKE my $$$."Oh gee...I think we need more $$ for "something"...let's just TAKE it from the people." When we get back our refund,I'm sure it will be with interest,correct? How dare our "Government."
Know wonder the Governor was out signing motorcycles at the garage sale while the Tea Party was demostrating at the capitial. He and the whote capitial took off because they do not
want to hear the back-lach from the people. They now think they
run the people vote the whole bunch out this election.
why do people stay in california? What an outrage-- move!! You can always go back and visit!!
Got something to say?
Examiner.com is looking for writers, photographers, and videographers to join the fastest growing group of local insiders. If you are interested in growing your online rep apply to be an Examiner today!