Tax
May 20, 2021
Bill could make California tax rates could go higher… again
California taxes are high, and if you are a very high income earner, they could go up. California legislators have proposed tax hikes, reprising two tax bills introduced in 2020 that failed to pass. With the economy improving and the state hungry for money, perhaps this year will be different. One tax bill would raise the state’s already stratospheric top income tax rate by up to 3.5% for very high incomes. The other is a controversial wealth tax.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
California taxes are high, and if you are a very high income earner, they could go up. California legislators have proposed tax hikes, reprising two tax bills introduced in 2020 that failed to pass. With the economy improving and the state hungry for money, perhaps this year will be different. One tax bill would raise the state's already stratospheric top income tax rate by up to 3.5% for very high incomes. The other is a controversial wealth tax.
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