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Calif. To Take 10 Percent More In Income Taxes

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Nov 2, 2009 12:27 pm US/Pacific

Calif. To Take 10 Percent More In Income Taxes

SACRAMENTO (AP) ― California wage earners may notice a little less in their paychecks starting this month.

Starting Nov. 1, California employers are required to withhold 10 percent more in state income taxes to help ease the state's budget problems.

It's part of a scheme to accelerate tax collections so the state gets the money sooner. It is expected to artificially inflate state revenues by $1.7 billion through next June.

Brenda Voet, a spokeswoman for the state Franchise Tax Board, says it's technically not a tax increase since wage earners will get their money back after April 15.

Still, it might feel like one.

For example, a single wage earner making $51,000 a year with no dependents will get about $4 less a week.

(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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