Retroactive CA Income Tax Increase, Effective January 1, 2012

Governor Jerry Brown’s Proposition 30 passed this month, retroactively increasing income taxes effective January 1, 2012. These rates will remain in effect for seven years (through the end of 2018) as follows: New Rates for 2012-2018 10.3% (1% increase) on income of: $250,001–$300,000 for single/MFS; $340,001–$408,000 for HOH; and $500,001–$600,000 for MFJ. 11.3% (2% increase) […]