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Below is a snapshot of key features of California's tax system. (Scroll Down)
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State & Local Revenue (FY10)
- General Revenue, Own-Source (GROS): $252.1 billion
- General Revenue as a Share of Income: 16.4%
- Tax Revenue: $172.6 billion
- Tax Revenue as Share of income: 11.2%
- Personal Income Tax (Share of Tax Revenue): 26.4% (11 out of 51)
- Corporate Income Tax (Share of Tax Revenue): 5.3 % ( 6 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 30.1 % ( 35 out of 51)
- Property Tax (Share of Tax Revenue): 31.2 % ( 30 out of 51)
- Other Taxes (Share of Tax Revenue): 5.2 % (26 out of 51)
Personal Income Tax Features (2012)
- Range of Tax Rates: 1% - 10.3%
- Standard Deduction: $3,841 ($7,682 for Married Couples)
- Personal Exemption: Credit=$104/filer
- Dependent Exemption: Credit=$321/dependent
- Earned Income Tax Credit (EITC): None
- Personal exemption credit phases out for high income levels
- Personal exemption is available as a credit
- Stand-alone itemized deduction disallowance for high income levels
Corporate Income Tax Features (2012)
- Range of Tax Rates: 8.84%
- Income Level at Which Top Rate Applies: All
- Combined Reporting: Yes
- Apportionment Factor (Payroll): 25%
- Apportionment Factor (Property): 25%
- Apportionment Factor (Sales): 50%
- Apportionment Note: Corporations can elect to use single sales formula
Sales Tax Features (2012)
- State Sales Tax Rate: 6.25%
- Average Local Sales Tax Rate: 1.95%
- Average Combined State & Local Sales Tax Rate: 8.20%
- State Sales Tax Treatment of Groceries: Exempt
- Local Sales Tax Treatment of Groceries: Exempt
- Number of Services Taxed: 21 out of 168 surveyed
- Streamlined Sales Tax Membership: No
- Tax rate may be adjusted annually according to general and school fund balances
- State sales tax includes 1% statewide local tax
- "Amazon law" in effect
Property Tax Features (2012)
- Property taxes capped at 1% of assessed value.
- Assessment increases capped at 2% per year.
Other Tax & Revenue Features (2012)
- Gasoline Tax Rate (per gallon): $0.493
- Diesel Tax Rate (per gallon): $0.475
- Cigarette Tax Rate (per pack): $0.87
- Estate or Inheritance Tax: No
- Net Lottery Sales Per Capita: $76
Tax Policy Oversight
- Tax Expenditure Report: Yes
- Tax Incidence Analysis Capability: Personal income tax only
Last Updated October 4, 2012
Sources & Glossary
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