> So let's assume you live in the Bay Area (California). New Federal income tax is 35% for that salary range then add 13% coming from beautiful and sunny California. We're at a 48 % tax rate. Let's round that up to 50% to simplify our maths.
What's unclear about that? 35% + 13% = 48% = about 50%. After that, it's just a matter of removing 50% from 300k to arrive at 150k.
What's unclear about that? 35% + 13% = 48% = about 50%. After that, it's just a matter of removing 50% from 300k to arrive at 150k.