Description: California voters approved the extension of the temporary tax increase on individuals, which was due to expire in 2018. Proposition 55:

• Extends the tax rates instituted by Proposition 30 through 2030
• Didn’t extend the temporary sales tax rate increase that expires in 2017

Our Alert highlights the current margin tax rates for single and joint filers as well as heads of households. 

 

Read more here: http://www.mossadams.com/articles/2016/november/california-voters-extend-individual-tax-increase