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California to withhold a bigger chunk of paychecks
Tuesday, November 3, 2009
Reporting from Los Angeles and Sacramento - Starting Sunday, cash-strapped California will dig deeper into the pocketbooks of wage earners -- holding back 10% more than it already does in state income taxes just as the biggest shopping season of the year kicks into gear.
Technically, it's not a tax increase, even though it may feel like one when your next paycheck arrives. As part of a bundle of budget patches adopted in the summer, the state is taking more money now in withholding, even though workers' annual tax bills won't change.
Continue reading story @ Los Angeles Times - http://www.latimes.com/business/la-fi-state-tax31-2009oct31,0,2028140.story
Labels: California, Employees, Employers
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