how much are bonuses taxed in california

When it comes to bonuses in California, they are taxed at a supplemental tax rate of 10.23%. This means that when you receive a bonus, your employer will withhold 10.23% of the bonus amount for state taxes. Additionally, the federal supplemental tax rate on bonuses is 22%.

Keep in mind that these rates are just the initial withholding amounts. When you file your tax return, the actual tax rate on your bonus will depend on your total income and tax bracket for the year. If the initial withholding was too high, you may receive a refund. On the other hand, if it was too low, you may owe additional taxes.

It's important to be aware of these tax rates when budgeting for your bonus and planning for your tax liabilities. If you have any specific questions about your individual tax situation, it's always best to consult with a tax professional.

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Hello,My name is Aparna Patel,I’m a Travel Blogger and Photographer who travel the world full-time with my hubby.I like to share my travel experience.

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