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Old 07-10-2008, 12:30 PM
 
74 posts, read 236,434 times
Reputation: 49

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Would someone please tell me what are the taxes like in California? I'm coming from Florida and we don't have 'State Tax'. I work from home with my own business (just started this two months ago).

I'm carefully trying to prepare for the transition; this is not the first time I've moved from state to state, however I'm more concern because California is much more expensive to live...and this would be a first time move while having my own business (LiveOps).

I have planned for this move by the end of the year, if all goes according to plan. I'm thinking of moving to Fremont, Milpitas area. Any advice or suggestions especially in the area of what 'extra things' I need to be weary of...

Thank you in advance.
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Old 07-10-2008, 04:05 PM
 
Location: Baywood Park
1,634 posts, read 6,720,072 times
Reputation: 715
I'm no expert. But I believe that state sales tax is 7.25%? with food being exempt and property tax is 1.25% of assessed value. local gov'ts can raise sales tax, it's probably higher there as it is where I'm at, which is 2.5-3 hrs. south of San Jose. But like I said, I'm no expert.
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Old 07-10-2008, 06:37 PM
 
74 posts, read 236,434 times
Reputation: 49
Thanks, I appreciate the reply.
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Old 07-10-2008, 07:15 PM
 
Location: Angeles City, Philippines
299 posts, read 1,153,454 times
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Default TAXES, What to expect when relocating? (prettyred)

Quote:
Originally Posted by prettyred View Post
Would someone please tell me what are the taxes like in California? I'm coming from Florida and we don't have 'State Tax'. I work from home with my own business (just started this two months ago).
You can find both CA & FL taxes at:
http://www.retirementliving.com/RLstate1.html#CALIFORNIA

jOE
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Old 07-11-2008, 08:36 AM
 
Location: Central NJ, USA
218 posts, read 437,944 times
Reputation: 66
Good link. My experiences living in California for 20 years were that the taxes were pretty much a wash. The income tax in the state is steep if you are a mid-upper and upper earner. Sales taxes vary from county to county but are not exceptionally high. Use "fees" (really, taxes) are HIGH (e.g., for the privilege of registering your car, expect to pay nearly 10x what you do elsewhere). Property taxes as a percentage are VERY LOW. I was *stunned* at the change when I moved from CA to NJ. Our house hear is half the assessment, but the annual tax bill is twice what we paid out there.

All in all, taxes likely will not be a big economic factor.
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Old 07-12-2008, 04:37 PM
 
Location: Las Vegas, NV
2,990 posts, read 8,714,496 times
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My biggest problem when I lived in San Jose was I couldn't afford to own a home. I was a good earner, and I paid up the ******** in taxes because I had no write offs at the time. I know the property taxes are low (percentage wise), but the homes are pretty expensive, so it can cost quite a grip. Sales tax is 8.25% when I was living there and state income tax was also high when you make 100K+
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Old 07-15-2008, 04:36 PM
 
74 posts, read 236,434 times
Reputation: 49
Thanks to all for your input. I will follow up with the links recommended. I've taken income tax classes before and have prepared my own taxes (and others) for the past several years. However, I just wanted an idea of what to expect since I won't be owning a home right away.

Thanks again I really appreciated.
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