November 16, 2009

The California T Party (T Is for Tax)

By Brian Stomski
Californians love to party. They always have. There are beach parties, Super Bowl parties, American Idol parties, poker parties, lingerie parties, bachelor and bachelorette parties, even parties for television shows with the same names, and a wide variety of other parties, both legal and illegal. The latest craze is the T party. No, it's not the Tea Party. In fact, it's nothing at all like that Tea Party. T is for tax.  The California T party is going to be a wild one! Everyone in California is invited. Before you load up the truck and move to Beverly, though, there is a catch. For every Californian on a payroll, attendance is mandatory. No one said this would be a fun party. With an official unemployment rate of 12.2% in California, it's time to get this party started before there's no one left to force.Effective November 1, California's state income tax withholding rates were increased by 10% for wages, supplemental wages, stock options, and bonuses. Faced with dwindling tax...(Read Full Article)