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Old 06-14-2011, 01:31 PM
 
Location: NY
161 posts, read 227,560 times
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How does California's state income tax generally compare to New York's?
Higher or lower? Significant or insignificant?
I file as a single.
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Old 06-14-2011, 02:14 PM
 
Location: South Bay
7,141 posts, read 19,551,289 times
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the rate is progressive up to around $45k taxable income where it tops out at ~9%.
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Old 06-14-2011, 09:53 PM
hsw
 
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IIRC, Manhattan inc tx rate is ~13% vs ~10% for CA (at top of income scheme for both)

Rents for comparable new, upscale condos in Manhattan cost abt 100% more than same stuff on LA's Westside or in SF

And in LA or SF, anyone more easily drives own new Mercedes 65 from undgd garage at home to garage at office, to valet pkg in front of restaurants, with a generally fast commute to key offices (or restaurants) from upscale homes (stuff not poss in Luddite Manhattan)

Always joke with colleagues that either PaloAlto or BH is awfully cheap vs Manhattan when one calcs income potential (esp for a 19yo smart engineer in tech industry) and civilized QOL for any >$1MM/yr engineer or financier, vs counterparts in Manhattan (even assuming equal incomes at same age)
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