Suppose someone has a TC of 300K that they earned in a year, 150K of which were part of stock grants, and the other as part of your salary. Assume that the value of those stocks are relatively the same for this scenario (I.e. they didn’t increase by much), and that they were sold and completely cashed out. Now suppose one invested personally in other stocks with 100K and earned 150K in profit for that year, and that was also completely cashed out. What would be the total difference in net pay (I.e. amount of cash in your bank account) between the two cities? Google’s giving me different results so I thought I might ask someone here who might be more experienced.
10%... ca income tax is 10%, WA is 0
Looks like the taxes of a young single techie with no dependents. Marking this bug as Working as Intended.
Californias tax has to feed, house, and pay all them illegals
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Assuming you are single and all of the stock is sold for short term gains... you would save ~40k in state taxes. You also have to spend twice as much for a house 850k vs 1.4mm for something similar in the Bay Area.
You would have a little over 300k take home if you go off of my assumptions. Honestly though, if you are making that much money, don’t be cheap and get a good CPA
Damn that’s a lot of money. By the way, for long term capital gains it would be 15 in both states including federal, yes? On the Internet and on the calculator, I see that there’s something called a marginal capital gains tax in California, and it’s giving me different results based on that.