California Taxation Laws and Regulations

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California Taxation Laws and Regulations
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California Income Tax

• Personal Income Tax California imposes a
  progressive income tax ranging from 1 to 12.3
  on individuals, with higher rates for higher
  income levels.
• Corporate Income Tax Corporations operating in
  California are subject to a flat tax rate of
  8.84 on their net income.

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Sales and Use Tax

• Sales Tax California imposes a statewide base
  sales tax rate, and local jurisdictions may
  impose additional district taxes. As of insert
  current year, the statewide base rate is insert
  percentage.
• Use Tax This tax applies to the storage, use, or
  consumption of tangible personal property
  purchased from out-of-state retailers.
  Individuals and businesses are responsible for
  reporting and paying use tax.

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Property Tax
Proposition 13 Enacted in 1978, Proposition 13
limits property tax increases to 2 annually for
residential and commercial properties until there
is a change of ownership. Assessment of Property
Property taxes are assessed based on the assessed
value of real property, which is typically 1 of
the property's full cash value.
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Employment Taxes
Payroll Taxes Employers in California are
subject to payroll taxes, including the State
Disability Insurance (SDI) and Unemployment
Insurance (UI) taxes. Employment Development
Department (EDD) Employers must register with
the EDD for payroll tax purposes.
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Top Accounting Services in California
Call 15596693000
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