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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 (FY08)
- General Revenue, Own-Source (GROS): $270 billion
- General Revenue as a Share of Income: 17%
- Tax Revenue: $186 billion
- Tax Revenue as Share of income: 11.7%
- Personal Income Tax (Share of Tax Revenue): 30% (11 out of 51)
- Corporate Income Tax (Share of Tax Revenue): 6.4% (8 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 28.8% (37 out of 51)
- Property Tax (Share of Tax Revenue): 28.4% (30 out of 51)
- Other Taxes (Share of Tax Revenue): 5.1% (9 out of 51)
Personal Income Tax Features (2011)
- Range of Tax Rates: 1% - 10.3%
- Standard Deduction: $3,724 ($7,449 for Married Couples)
- Personal Exemption: Credit=approx. $99/filer
- Dependent Exemption: Credit=approx. $309/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 (2011)
- 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 (2011)
- 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
- State sales tax applies to gasoline
Property Tax Features (2011)
- Property taxes capped at 1% of assessed value.
- Assessment increases capped at 2% per year.
Other Tax & Revenue Features (2011)
- Gasoline Tax Rate (per gallon): $0.505
- Diesel Tax Rate (per gallon): $0.608
- Cigarette Tax Rate (per pack): $0.87
- Estate or Inheritance Tax: No
- Net Lottery Sales Per Capita: $91
Tax Policy Oversight
- Tax Expenditure Report: Yes
- Tax Incidence Analysis Capability: Personal income tax only
Last Updated August 25, 2011
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