Who makes up your data for you? Tell them to do a better job.

The California state income tax has brackets, starting at 2% and topping out at 12.3% for income over $508K. See http://www.tax-brackets.org/californiataxtable

A single person with no dependents would, according to the tax calculator on that page, pay $4170 in states tax on an income of $75,000. That works out to 5.6%. Not 20%.

It's not about the employees and their taxes anyways. Toyota would locate in Massachusetts, if it was somehow to corporates advantage. Nobody gives a hoot about the employee. Figure it out, guys.

Besides, Don. IIRC, he has made comments about how "people" pay 50% federal tax, the corporate tax is 50%, now "people" pay 20% state tax.

As they say here in the Old Dominion, "He's talkin' out his ass.". Just ignore the troll.

Dave

Not to mention that property taxes in Texas are about double, so if you sold a home in California for 300K and bought one in Texas for 200K, you are still going to be paying higher property taxes in Texas. Texas would still probably have a slight tax benefit to the moving employee, but it won't be as great as it looks if he buys his own home.

They don't give a shit about the employee. It's not about the employee.

Precisely what I was trying to point out. Not a simple cost reduction but a bidding process. Once again governments giving away money that they do not have or cannot afford to in the long run. Hate to be a cynic.

Property taxes are frozen in CA from the time of purchase (Prop 101). So if some one has lived in their home for several years, their effective property tax will be relatively low. So it may not just be a simple comparison of house cost and tax rates.

The Reverse-Joads of California - http://online.wsj.com/news/articles/...26402863024028

True dat.