Community Chat

[wifey2qt]

Sorry, TEXAS is a mess

[wifey2qt]

What do you mean " Boooooooo" .... 

You don't pay state income tax! 

[qvcaddition]

@Linmo 

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@Linmo wrote:

@qvcaddition The amount depends on your 2020 income and filing status.  Here is the chart from the Franchise Tax Board website.  Sorry for the small font!

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I was able to enlarge it, thank you. I get the 350.00.  I am an elderly senior on fixed income. Oh, would it help,

[shoekitty]

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@Linmo wrote:

@hckynutjohn @shoekitty I deliberately left the income levels out of the original post because I thought it would cause a hoopla among non-CA residents.  For married and head of household residents, the AGI needs to be below $500,000.  For single residents, it's below $250,000.  It is being paid by the state due to a budget surplus.  Property tax is not a factor.

Many folks outside of CA don't realize the housing prices and cost of living here.  

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Shoekitty said:   You are correct about the cost of living here!!!  .  Friends and grandkids can't find rentals in this area. Minimum rental for a home w about 4,000@ mo and up. To buy a home it is about a million on up, I don't know how a young  person can come up with down pmt, especially with interest. Gulp. Our home is paid for, I feel so blessed.  

[bikerbabe]

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@hckynutjohn wrote:

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@icezeus wrote:

It's not a bribe. California is a reliably Blue State so there is no one to bribe before an election. 

@icezeus 

I  agree 100% with you that "California is a reliably Blue State". 

Just did some searching and found this article about the California budget.

"The State faces an operating deficit beginning in 2021-2022 and throughout the outlook period, growing to $17 Billion by 2024-2025".

Deficit/Surplus?  Hmmm! Someone isn't doing good math.

hckynut  🇺🇸

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@hckynutjohn 

The CA state Legislative Analyst Office projects a $31 billion surplus for 2022-2023 and surplus through 2025-2026. 

In 2021 there were fears of a deficit due to coronavirus but in fact the state also ended up with a large surplus. The state sent out $600 checks last year. 

[50Mickey]

I just read that California has a $49 billion surplus and that is why they are returning money to the taxpayers. 

[teganslaw]

What does being a blue state have to do with surpluses? Many states, both red and blue, have issued refunds to taxpayers because of surpluses. 

I think someone is trying to insert politics in the message boards.

[Greeneyedlady21]

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@teganslaw wrote:

What does being a blue state have to do with surpluses? Many states, both red and blue, have issued refunds to taxpayers because of surpluses. 

I think someone is trying to insert politics in the message boards.

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This is hardly the only instance of that, if someone said that. Political posts are everywhere here now. I haven't seen any announcements about the code of conduct having been changed. I think it's due to less moderation.

[Another new name Sue]

I don't know if this point was made already, but seniors already taking their IRA required minimum distributions would have a lower income in 2020 because that distribution was not required for that year because of the pandemic.

Interesting post, thanks, @Linmo.

[hckynutjohn]

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@50Mickey wrote:

I just read that California has a $49 billion surplus and that is why they are returning money to the taxpayers. 

@50Mickey 

Highest income tax of the 50 at 13.3%, then throw in maybe county and city. With that kind of surplus one would think!

hckynut  🇺🇸

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