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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: prybior who wrote (112463)	5/24/2000 4:37:00 PM
From: Joe NYC	Respond to of 1571102

Andre, Florida does not have income tax, California does. You have sales taxes in most states ranging from 0% to 8.25%. Then you have real estate taxes if you own a house or a condominium. These are local taxes that vary from location to location. The federal taxes are the same everywhere, and with 200k of income, the last few dollars of this income will be taxed at the highest marginal rate of 39.6%. (This is the new Clinton's millionaire tax that falls on income starting around 180k). The marginal rates are 0, 15, 28, 31 36 and 39.6. I don't know the tresholds off the top of my head, but count on average federal tax rate of about 30% or less. The next we have the social security tax, and as a self employed person you will pay 12.4% of your income up to about $75,000 (the limit changes annually). The next is the Medicare tax which is 2.9%. So add it up. Joe