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Capital Gains is a federal concept not a state therefore CA treats capital gains income the same as ordinary income.
Imposes a 12.3% tax rate on taxable income over $500,000 up to $1,000,000--a percentage increase of 32.26% over current policy of 9.3%.
Imposes a 13.3% tax rate on taxable income over $1,000,000--a percentage increase of 29.13% over current "millionaires tax" policy of 10.3%.
Also, Systrom might be from the East Coast but he went to Stanford.
1 year ago on Proposition 30: Yet another way California screws entrepreneurs over