Just using rough numbers:
33% federal income tax
6.2% on the first 113K for Social Security
1.45% for Medicare
9.3% for CA state income tax
Plus any local taxes?
Gets to about 50% there.
I know in NYC when the company I was with sold, my total tax rate was 52% on it.
right, i would expect 50% to go to the tax man, unless waiting long enough to get into long term capital gain. His 63% threw me off there, sounds like France!
