Residents of California are well aware of just how far their economy has fallen. Only a few short years ago (pre 2008 housing collapse), Cali was one of the world's strongest economies. Today, however, the state is billions of dollars in debt and austerity measures are crippling schools and public facilities around the area.
Taxes are also continuously fluctuating in order to find the right balance. If you're about to file your taxes, you better be exactly sure of what the california state tax rate is.
As the IRS has told many people before auditing them and ultimately putting them in jail, ignorance of a tax rate is no excuse not to pay your full share. And you better believe the government wants its full share. A failure to pay your full state tax rate to the California government can and will invite federal charges upon you.
So make sure that you focus on this year's state tax rate and other information before filing any paperwork.
Comments on this entry are closed.