Thread regarding California Resources Corporation layoffs

For those with questions about taxation - 40% is the total of ALL taxes taken out

Those guessing about taxes are wrong. When you add up all the taxes taken out for the bonuses or lump sums, the OVERALL tax rate is around 40% as it always is. The Federal tax rate is 25% (see link below, section 7), CA is from 5-10%, social security and medicare is 7.65%, and then there is CASDI. Companies don't have a choice in how much they tax. And they don't hold onto the money--laws require quick payment to the state.

There is no choice when it comes to taxation. No "lesser amount" they could have taken out.

https://www.irs.gov/publications/p15/ar02.html

by
| 2051 views | | 4 replies (last )
Post ID: @OP+GrXBKYQ

4 replies (most recent on top)

Im almost positive its one of those two.

by
|
Post ID: @8oge+GrXBKYQ

I'm pretty sure it's one of Todd's minions. Alana or Adam

by
|
Post ID: @7xww+GrXBKYQ

F--- you and those motherfuckers

by
|
Post ID: @6kzc+GrXBKYQ

Post a reply

: